Ob boy! Gas Prices!

Matt McGrain · **Posted:** Sat Sep 13, 2008 11:21 am

ChristineAllen wrote:

I should have filled up in VA yesterday 3.50 for Prem!!!

VA gas prices FTW!!!

Matthew Fortner · **Joined:** Sun Mar 21, 2004 12:21 am **Posts:** 384

Anyone know of any stations that have sold out? Or sold all of 87 or 89 octane?

Chuck Branscomb · **Posted:** Mon Sep 15, 2008 7:42 am

Well anyone betting on a rise in gas prices Friday is going to be burned today. Unleaded regular is trading down 23 cents/gallon (more than 8%...i.e. this is a HUGE move down for one day (so far)) this morning at its lowest price since January. Crude last this morning is 94.70 down $6.50/barrel. Interesting, isn't it?

MarekRozanski · **Posted:** Mon Sep 15, 2008 8:10 am

Matthew Fortner wrote:

Anyone know of any stations that have sold out? Or sold all of 87 or 89 octane?

Citgo on the corner of Alston Ave and 54 was completely out when I drove by Friday evening.

Keith Vail · **Posted:** Mon Sep 15, 2008 8:47 am

Chuck Branscomb wrote:

Well anyone betting on a rise in gas prices Friday is going to be burned today. Unleaded regular is trading down 23 cents/gallon (more than 8%...i.e. this is a HUGE move down for one day (so far)) this morning at its lowest price since January. Crude last this morning is 94.70 down $6.50/barrel. Interesting, isn't it?

Here is hoping prices fall before Thursday when I have to drive to NY. FWIW gas is up atleast $0.30 per gallon at all the local stations near me from Friday morning.

Chuck Branscomb · **Posted:** Mon Sep 15, 2008 9:52 am

It must simply be a local panic buying since the wholesale market for October delivery (contracts must be closed prior to end of Sept unless you want to take/make delivery), which is the nearest delivery date, are down more than 20 cents/gallon from before Ike hit.

Aaron Buckley · **Posted:** Mon Sep 15, 2008 11:21 am

Chuck Branscomb wrote:

Well anyone betting on a rise in gas prices Friday is going to be burned today. Unleaded regular is trading down 23 cents/gallon (more than 8%...i.e. this is a HUGE move down for one day (so far)) this morning at its lowest price since January. Crude last this morning is 94.70 down $6.50/barrel. Interesting, isn't it?

The big issue for us Chuck is that NC gets all of it's deliveries from the refineries in Louisiana and Texas. Since those have shut down for the last 4 days and won't be operational for another 2-3 days, gas is becoming sparse in the state. Down here in Charlotte, if you can find gas, it's easily up $.60 a gallon, and some stations have regular priced at $5.39/gallon.

Granted, this is all just temporary. With our tax basis, and with crude and refined gas prices down a lot, we should be nearing $3.15 or so for regular.

Fortunately, I filled up on Saturday at Costco for $3.62 for 93 octane

They were out of regular, but selling the 93 at the regular price. That's a well run operation! - AB

Graham Jagger · **Joined:** Fri Aug 29, 2003 12:53 am **Posts:** 1718

Chuck Branscomb wrote:

It must simply be a local panic buying since the wholesale market for October delivery (contracts must be closed prior to end of Sept unless you want to take/make delivery), which is the nearest delivery date, are down more than 20 cents/gallon from before Ike hit.

Panic buying and/or just plain old greed and gouging...

Todd Breakey · **Posted:** Mon Sep 15, 2008 11:26 am

Here's your maps of the pipelines...

Plantation Pipeline, originates in NOLA...

Colonial Pipeline, originates in Houston...

BriceJohnson · **Joined:** Thu Apr 13, 2006 7:33 am **Posts:** 2230

filled up in southern pines @ 4.03 for premium on the way back from Laurinburg. They were out of regular. My car doesn't need premium (the mini does though), but if I have to pay $4 a gallon, it might as well be premium.

MikeWhitney · **Joined:** Wed Aug 20, 2003 9:15 pm **Posts:** 4724

Todd Breakey wrote:

Here's your maps of the pipelines...

Todd - thanks for those -- I had been wondering about that. Where'd you find the link to those images?

Todd Breakey · **Posted:** Mon Sep 15, 2008 12:56 pm

I found them on their websites.

http://www.colpipe.com/

http://www.plantation-ppl.com/

Chuck Branscomb · **Posted:** Mon Sep 15, 2008 4:05 pm

No issues here in South Carolina or all along I-95 from Raleigh yesterday. Regular is well under $4...paid 4.19 for 93 octane. No problems with supply that I have seen. I agree with Graham. There is plenty of supply in the system. It is not run like an electrical line as there is massive storage available all over the system (i.e. huge "capacitors" that are fully charged) with just a very short term issue with tankers getting filled and out to stations. This is not a pipeline supply problem imo. However, I guess the best way to stop the panic demand is higher prices if you can't get the very short term supply in place.

MikeWhitney · **Joined:** Wed Aug 20, 2003 9:15 pm **Posts:** 4724

Hey, can someone let me know when gas is cheap again? The 540i is down to fumes and I'm just not going to go anywhere until the insanity is over.

THSCC Forums

Ob boy! Gas Prices!

Who is online