Gas Prices

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Bullbuyer

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Is it just us hillbillies or is everybody gettin' beat up with gas prices these last few days? We're up to $2.43 for regular unleaded - I'm afraid to look at the diesel price.
 
Yes we are...I filled up my wife's jeep on Sunday night(@2.06/gal.), and when I went to fill up my truck Monday morning, it had gone up to 2.14/gal! Probably 12 hrs later.
 
I can't figure out the why's in the oil market. The market closed today with the March contract for oil down $1.32 to settle at $58.07. Heating oil was down $.03 to settle at $1.645, but the contract price of gasoline was up "marginally" to settle at $1.6491. Makes no sense, the gasoline stock has been rising.

Jack
 
This is not rocket science the speculators are starting to stockpile inventories for the summer season.
This is a commodites market buy low sell high.

Secondly diesel is going to heating oil in the midwest and not being converted to gasoline.
 
Campground Cattle":3jar3q68 said:
This is a commodites market buy low sell high.

Heck yes. No different than cattle or anything else.

Water prices still have me steaming. I remember when you could pull into a "Service Station" and there was a water fountain. Drinking water was free. You could fill your glass. Now a 16 ounce bottle is $1.19. Cokes are usually cheaper than water, which doesn't make any sense at all.
 
There is a little bit of difference in commodities. These contracts expire at the end of the month. If you buy a gasoline contract for April which is the current contract month at present, you are expected to take delivery of same. And you can purchase contracts further out in the year. However, the current pump price of gasoline is based on the current month's contract price, not the price of a contract for June or July.

Jack
 
backhoeboogie":3i2e3auy said:
Campground Cattle":3i2e3auy said:
This is a commodites market buy low sell high.

Heck yes. No different than cattle or anything else.

Water prices still have me steaming. I remember when you could pull into a "Service Station" and there was a water fountain. Drinking water was free. You could fill your glass. Now a 16 ounce bottle is $1.19. Cokes are usually cheaper than water, which doesn't make any sense at all.

Ain't that the truth! We buy generic soft drinks by the case for usually around .25 to .35 cents each. We buy water from our well...lol...probably costs .25 cents for 500 gallons or so for the electricity to pump.

"Designer Bottled Water" costs too much because the bottlers CAN charge that much.

I've been drinking well water and city water (in the past) for 68 years and haven't died or gotten sick yet from the water...lol.
 
jack.diamond":219kxtty said:
There is a little bit of difference in commodities. These contracts expire at the end of the month. If you buy a gasoline contract for April which is the current contract month at present, you are expected to take delivery of same. And you can purchase contracts further out in the year. However, the current pump price of gasoline is based on the current month's contract price, not the price of a contract for June or July.

Jack

Not exactly as we are buying crude three to four month out and selling gasoline that far out also. The commodities traders have huge tank farms located in different PADD districts.
 
hurleyjd":2oz42c9h said:
Still cheaper than bottled water or soda pop.

I had that thought driving home last night. Can you imagine the uproar if a 2 liter of soda cost $2 - on sale. There'd be rioting and looting in the big cities.
 

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