Gas Price

[o3jeff]

So should I wait a few days before I fill my car up?

 

[tjf67]

So, today is an interesting start of the day for the NYMEX. I mostly trade equities but dabble in the commotities arena. The price of crude has dropped to $99 but gasoline(RBOB) is higher. As mentioned in the other gas price threads in the past the price of crude does have a direct relationship to the price at the pump. If your that worried about the price at the pump you need to follow the price of gasoline not the price of crude.

When a barrel of crude arrives at a refinery in the US it can be made into unleaded gas, heating oil, deisel or white gas. This changes seasonally. Right now refineries are doing their seasonal transistion away from heating oil. They all trade separetly on the NYMEX.

A large chunk of the rise in crude in the last few months is the fear factor regarding the Middle East. It's extimated by the experts I listen to be at around 40% of the price. Sometimes the future possibility of a severe problem in the supply chain overrides supply and demand as the main driver of the price.

Remember 2 years ago? When the price at the pump got into the $4 range you start getting demand destruction. When the price hit $4 two years ago many started talking about $5 at the pump. A few of you guys even posted predicting $8/gallon. That will never happen. Crude suppliers, like the Saudis will take steps to reduce the price. They know and you should know that most will reduce their consumption if the price at the pump is too high. In the end demand does have an effect but right now it's the political unrest in the middle east oil patch driving the price so high.

Umm you may want to take a look at the dollar.

 

[deadheadskier]

$3.79 today

Exit 23 off of 93 in NH. Station has consistently been the cheapest I've seen in New England over the past three years. Caught it on the way back from Jay Peak today

So 93 corridor skiers, be sure to fill up at the Irving at Exit 23. Best deal in the state if not New England.

 

[dmc]

Going to gas up in jerzy today.... mmmmmm.. sweet sweet jerzy gas..

 

[Nick]

I paid $4.29 for premium this morning. Ouch.

 

[RootDKJ]

I would love nothing more then to have a train near my house..

I do. 10 minute walk. I hardly have reason to travel by train though. Best way to go to Yankee games through.

 

[hammer]

I paid $4.29 for premium this morning. Ouch.

Same here...:sad:

Are we on the summer fuel? I've noticed slightly better gas mileage lately...

 

[o3jeff]

Pretty shady if it's true.

http://www.autoblog.com/2011/05/31/are-chevy-dealers-gaming-the-system-to-keep-volts-7-500-consum/

 

[Glenn]

Those rebates are a bad idea anyways. If the cars won't sell without a rebate, the demand isn't there. And they give those rebates out for the $100k+ Fiskars. How the hell does that makes sense?

 

[deadheadskier]

$3.72 locally today

 

[hammer]

$3.72 locally today

Pretty bad when we are excited about that price...:roll:

(but at least it's in the right direction)

 

[deadheadskier]

yeah, definitely nothing to get too excited about, but when it was $3.94 locally and on the rise two weeks ago, it's a great thing to see it going in the opposite direction. A buck more and I'll be happy.

 

[bvibert]

It was up to $4.099 here, maybe higher. It's down below $4 now at least...

 

[o3jeff]

$3.94 this morning

 

[RootDKJ]

$3.69 credit price (found a place that's only $0.04 higher).

 

[mondeo]

Haven't been to a gas station in a few weeks.

 

[bvibert]

Same for cash or credit around here.

 

[bigbog]

The poll is only for one method only...HA, Shell produces the best performance for my vehicles = cash, two gas cards for the other brands...one of which is in greater numbers around Maine(and everywhere), essentially for when I'm away from Shell stations.

 

[riverc0il]

Pretty shady if it's true.

http://www.autoblog.com/2011/05/31/are-chevy-dealers-gaming-the-system-to-keep-volts-7-500-consum/

But 100% legal, right? If true, this is brilliant and genius... Chevy could make more in profits on the tax rebate than on the actual sales, wowzers. And buying the Volts as borrowing/rental vehicles A) gets more people into them for marketing purposes and B) fulfills their need for borrowing/rental cars short term with long term used sales opportunities, even if done in a "flipping" style.

What is shady is the entire tax rebate for "green" cars. I don't think diesel is included in that program and neither are unleaded gas cars getting 40 MPG. If the government took away the green car tax credit, part of the hybrid/electric market would likely falter, especially with the new econo cars coming out this year. I think gas price increases are a more important incentive for higher MPG cars than tax breaks. I guess I should stop there to keep it on topic and politics free.

 

[ctenidae]

www.eia.gov- tons of interesting stuff.