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The Official Gas Thread


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Paid $3.35 this morning, got only 5 gallons with $20

I'm no math person but I'd guess that you were just a hair under 6 gallons... $3.33 would have given you 6 full ones... just trying to be a little optimistic here

 

Yes, you are correct...5.94 to be exact....I just wanted a reason to complain.

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Good to see prices are still cheap over in the states! We'll be visiting in just under 4 weeks time, and doing a fair bit of driving, so was glad when I saw you all saying it was still under $3.00 a gallon Over in Britain, we're currenly paying 95p a litre, which works out to $7.30 for a US gallon I filled up my Audi A3 diesel the other day, and it cost me £48 (about $92)!

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They say this every year. Refinery problems, supply issues, possible terror attacks. There is only one group of people responsible for the high prices at the highest level. The market traders. There is a refinery down in indiana, but when a trader sees this, they raise prices up, even if it won't matter that much. Then when the traders raise prices, refineries raise prices, so gas stations raise prices. And Oil companies are making billions in profits. I could see if they were only making millions, but billions is a whole other story.

 

What the oil companies don't see is the min. to low wage job people working two jobs just to make it and the 50 cents they raise it, can kill them to the point of choosing food or gas. I am lucky enough to have a descent gas mileage car. But others drive older cars that get crappy mileage. The Federal gov't is getting hit hard too. Someone told me that the USPS has the largest fleet of vehicles in the world. And for every penny raise gas price, it cost them hundreds of thousands of dollars.

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There is only one group of people responsible for the high prices at the highest level. The market traders.

actually, the market price of a barrel of oil is only one of several factors that set gas prices you see at the pumps. Heck sometimes gas retailers take a loss on every gallon, its rare, but it happens. There are really several different markets that set the price you pay per gallon.

 

 

And Oil companies are making billions in profits. I could see if they were only making millions, but billions is a whole other story.

Yeah, but take it in context. Numbers are fun and all, but percentages are best. Marginally they just do ok, if you want ridiculous marginal profits, look at pharmaceuticals and banking. You gotta remember that five of the top ten companies based on revenue are in the petroleum industry (I think Exxon actually tops Wal-Mart in revenue) - if they weren't making billions in profits, the marginal profit would be very weak, they wouldn't have money to invest in the future, and stockholders wouldn't be too happy.

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if the price of oil per barrel sets the price, then why was gas prices going up when oil prices were going down or staying steady. I look at oil prices every day. and prices were at 63 a barrel to now, less than that when I last looked.

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