Gas prices raised by katerina

[stdave1]

I see the oil companies have raised prices again and say it's caused by katernia. Talk about making money out of peoples misery! I guess some compaines will do anything or use any excuse to make money. Any thoughts on this?

 

[Sarusuke]

Katrina knocked out a lot of gasoline and jet fuel production ability for the US. There's no power in a lot of those areas, so moving the fuel that is there through normal methods in made more difficult and costly. There are also different fuel standards throughout the country that usually prevent other places in the country from relieving any disruptions in supply and those regulation were only temporarily lifted yesterday (I think the regulations are restored on 9/15). Talk of fuel shortages caused a run on the gas stations so the equilibrium price rose. The prices are higher because the quantity demanded would outstrip the quantity supplied at a lower price point. The high price means people will only fill their tanks to what they can afford, meaning there will be enough fuel for most people to partially fill their tanks. Anything closer to the old prices and all the fuel would be purchased by the first few people who showed up.

 

[BigNorm]

i went to go get gas an hour ago, and they were in the middle of price changing, before katrina: $2.30 or $2.60 something like that. now, the cheapest place in town has gas at $2.72 while everyone else is $2.99. the $2.72 a gallon place is Sam's Warehouse, a store by the makers of wal-mart. the lines there was enormous. 6-10 people in line per pump, and there are like 10-15 pumps. waited an hour to get gas.

 

[Hungarian21]

Georgia was hit the hardest.

regular: 5.87
silver: 5.97
ultimate: 6.07

And I thought paying 3 bucks was a pain... 🙄

 

[AphroditeRabbit]

It's about 3.20 here right now and climbing. I'll play hermit for now!

 

[Cbarton]

I see the oil companies have raised prices again and say it's caused by katernia. Talk about making money out of peoples misery! I guess some compaines will do anything or use any excuse to make money. Any thoughts on this?

(1) Oldest law in Economics 101: supply and demand. Everyone is panicking over the what should be a temp shutdown in shipping that their actions to stock up is lowering supplies....therefore the cost goes up...self-fullfilling prophesies.

(2) New Orleans is a MAJOR arrival site for oil in the US. The damage done there alone will cause shipping delays

(3) Many refineries were hit and knocked out. No refineries=no gas, deisel, etc production at those sites. Since refinery sites are low due to all the environemental protection laws (over 10 years since a new one was built in the US), production will be slowed even more. If we had more refineries, this would be less of a problem (and gas prices would be lower due to higher supplies)

(4) US laws prohibit the shipping of oil and gas from US port to US port on NON-US ships, driving shipping costs up even higher. We have a limited amount of ships available. Lucky for us, PRes. Bush lifted that sanction today and that should help out emmensly to get supplies out.

If you listened to all the santions and regualtions that Pres. Bush lifted yesterday and today, you'd see why they were so high in the first place. Plus that fact that (before Katrina hit) about 65% of the price of gas is actually local, state, and/or federal taxes, imagine how low prices could really get...

So, before blaming the oil companies, look at the root causes...

***DISCLAIMER: I DO NOT WORK FOR AN OIL COMPANY, OR OWN STOCK IN ONE***

 

[chode]

Since i moved to cincy last october my cost to fill up my 4 banger dodge stratus went from 20 bucks to 40 bucks. GOOD LORD!

 

[BigNorm]

damn, then i guess $2.79 a gallon is awesome here. if anyone near the border of florida in georgia wants to, yall should cross the border to get gas for dollars cheaper.

btw, anyone else watch that special on FX network called Oil Storm, where it predicts the future is low on oil in the form of a fictional documentary. seems alot of that's coming true, cause it predicted the destruction of the Oil business in New Orleans, or something like that, but it seems a little eery.

 

[-Kunoke-]

(1) Oldest law in Economics 101: supply and demand. Everyone is panicking over the what should be a temp shutdown in shipping that their actions to stock up is lowering supplies....therefore the cost goes up...self-fullfilling prophesies.

(2) New Orleans is a MAJOR arrival site for oil in the US. The damage done there alone will cause shipping delays

(3) Many refineries were hit and knocked out. No refineries=no gas, deisel, etc production at those sites. Since refinery sites are low due to all the environemental protection laws (over 10 years since a new one was built in the US), production will be slowed even more. If we had more refineries, this would be less of a problem (and gas prices would be lower due to higher supplies)

(4) US laws prohibit the shipping of oil and gas from US port to US port on NON-US ships, driving shipping costs up even higher. We have a limited amount of ships available. Lucky for us, PRes. Bush lifted that sanction today and that should help out emmensly to get supplies out.

If you listened to all the santions and regualtions that Pres. Bush lifted yesterday and today, you'd see why they were so high in the first place. Plus that fact that (before Katrina hit) about 65% of the price of gas is actually local, state, and/or federal taxes, imagine how low prices could really get...

So, before blaming the oil companies, look at the root causes...

***DISCLAIMER: I DO NOT WORK FOR AN OIL COMPANY, OR OWN STOCK IN ONE***

That aside, not every state in the US gets oil from New Orleans, some, like Washington, get their oil from pumps in Montana, and yet, our gas prices just broke 3 dollars as well. Explain that please?

 

[Sarusuke]

That aside, not every state in the US gets oil from New Orleans, some, like Washington, get their oil from pumps in Montana, and yet, our gas prices just broke 3 dollars as well. Explain that please?

Your state's gasoline is going to fill in the shortages in the southeast leaving your state with less gasoline until your state brings in oil or gasoline from another location. No matter where the oil comes from, it essentially enters one market that everyone in the world draws from. It's why Chinese oil buying can affect US prices.

The United States' ability to refine enough gasoline for the size of the US market is ridiculously poor.

 

[Dude'sonfire]

3 dollars? Wow. We pay around £3.50 in the uk for a gallon, if my conversion is correct, and that's almost $7 at the moment. I mean i realize we're a much smaller country, but really...

 

[Hungarian21]

Gas prices are a killer in Europe. In hungary, you will find the average of 8 bucks a gallon. Sucks, but what to do? 😛

 

[Venom3602]

Who cares, gas cost more. We're just starting to pay what the Europeans have paid for years. Thousands of people are homeless and hundreds are dieing. Just because it costs you more to drive to the grocery store now doesn't mean you've suffered any. I've never been a Bush supporter to even a minor degree but it amazed me how many people are blaming everything on him since Katrina.

 

[coloman]

Leave it to the oil companies to raise prices and blame the worst natural disaster in US History for doing it. I also am growing very tired of everyone blaming President Bush for the slow response by FEMA, and the US Military in providing aid to New Orleans, Gulfport MS, Biloxi MS. and other cities that were badly damaged or wiped off the map. The help is there now and will remain there too in spite of the fact that a lot of greedy bastards helped themselves to whatever they wanted that had nothing to do with the food, water and medicine that many people needed and took so they could survive. Gangs of youths also ran wild in the streets of New Orleans robbing and raping people. They should have let the police and National Guard troops shoot these worthless people dead on sight from the beginning but human compassion provented them from doing so until it was too late. I feel sorry for how much all of you people in Europe have to pay for gas but I think it's rather a moot point on your parts to mention this since this disaster did not effect what you pay for gas in your countries.
It will take years to recover from this natural disaster but the US will recover from it you may rest assured of that. We have always met adverse conditions head on and come out the winner and this time won't be any different regardless of the huge loss of life and personal property that Hurricane Katerina caused.

 

[terino]

I see the oil companies have raised prices again and say it's caused by katernia. Talk about making money out of peoples misery! I guess some compaines will do anything or use any excuse to make money. Any thoughts on this?

Actually that seems the most likely. They will charge whatever the market will bear. You will not be surprised to hear that London hotels raised their prices to make a quick profit on the recent London bombings. Transport was disrupted so people needed rooms. They made a lot out of that anyway filling normally empty rooms but the icing on the cake was a hike in prices of up to 50 percent.

Nice people to do business with.

 

[Faramir]

Georgia was hit the hardest.

regular: 5.87
silver: 5.97
ultimate: 6.07

And I thought paying 3 bucks was a pain... 🙄

you just got ... GOUGED ...!!!

 

[Faramir]

That aside, not every state in the US gets oil from New Orleans, some, like Washington, get their oil from pumps in Montana, and yet, our gas prices just broke 3 dollars as well. Explain that please?

that would be a west coast thing ... !!

 

[Faramir]

I blame China ... they finally gave cars to their citizens ... real cars ... not cardboard ones ... hence, they wanna go for a drive ... !! 😀

joking aside, I just put US $20.00 in my car (which was running on fumes atm), and got a whopping 7 gallons of petrol. Considering I have a 50 mile round trip to work and back home tomorrow, not including the "easy off, easy on" rest stop to the pub on the way back home, and the US $20.00 I refuel myself with there, I figure I'm pretty well fooked either way I go, so might as well go down in flames either way!!! 😀

 

[Faramir]

Actually that seems the most likely. They will charge whatever the market will bear. You will not be surprised to hear that London hotels raised their prices to make a quick profit on the recent London bombings. Transport was disrupted so people needed rooms. They made a lot out of that anyway filling normally empty rooms but the icing on the cake was a hike in prices of up to 50 percent.

Nice people to do business with.

brings to mind Metallica's "Kill 'em All" !!~

edit: the gougers, that is.

 

[HOLLYWOOD]

these evil ooil companies are really sticking it to the hollywood brother. this is terrible and it needs to stop