POST up your GAS PRICES

[90EX]

Diesel is getting too expensive. My dad is a trucker so he definitely feels the pinch.

Time to get a motorcycle.

[SpdJnky93]

$3.93 Supreme
$3.80 Mid-Grade
$3.69 Regular

[4CYLPOWER92]

He does know what is going on. It was political posturing on the part of the Saudi's.

Clearly, demand is outstripping supply, or prices would not be going up.

Paid $3.71 for Premium today.

Possible. But there are several locations of demand. One is at the pump. Ofcource that doesn't have to do with the cost per barrel which is at an all time high. I'm wondering what reasons the Saudi's would have to lie. They have the ability to increase as much production as they want to.
What politial posturing are they doing?

[4CYLPOWER92]

Diesel is getting too expensive. My dad is a trucker so he definitely feels the pinch.

Time to get a motorcycle.

Thats another mind boggling situation. I few years back diesel used to be a dollar cheeper than gas. And before that it was always cheaper than gas. Every time diesel goes up, it stays up. It might level off but it never fluctuates back down. Diesel is less refined than gas, so in theory it should be cheaper.

[Dark_Accord]

highest place in town
$4.09
$4.19
$4.29
cheapest place in town
$3.95
$4.05
$4.15

[owequitit]

Possible. But there are several locations of demand. One is at the pump. Ofcource that doesn't have to do with the cost per barrel which is at an all time high. I'm wondering what reasons the Saudi's would have to lie. They have the ability to increase as much production as they want to.
What politial posturing are they doing?

1) It is widely believed that their wells have already peaked. There is some creedance to this based on some information about how much water they are pumping in to get the oil out. That would indicate that they can't just up production to whatever level they want. You can only squeeze so much juice from a turnip.

On that end, Bush is 100% accurate, whether you personally care for him or not. Either demand goes down, or supply goes up. Those are the ONLY two ways to reduce the price of gasoline.

2) There are two ways to alleviate prices. Simple economics 101. You can either reduce demand and keep supply the same, or you can increase supply and keep demand the same. You can't however, have it both ways. The fact that world demand is increasing by ~20% per year, and production has stayed roughly the same, indicates to me that Saudi Arabia is not telling the whole truth, when they say they are pumping as much oil as is needed to fill demand. If that were the case, production would ALSO increase 20% per year, but it isn't.

3) It is political posturing because A) they can't pump more B) they can't admit that they can't pump more, because that would highlight the fact that their economic future is limited under their current system (oil revenue), and that crude is indeed a finite resource C) They are part of OPEC, who has recently decided that they need more $$ (because everyone knows that ONLY Americans are greedy ). If you look at the way the Saudi economy is setup, they are in a position where they need to increase income in order to support the increase in subsidies they provide to the citizens. Guess what a good way to do that is? Yup. Increase profit margin. Now, I don't personally think that they are saying "hey, let's make the US pay more." They are simply putting a commodity out there for purchase, and selling it to the highest bidder. More demand=higher bids.

4) Also, it should be noted that much of the current pricing issues are a result of speculation on the part of investors.

I am sorry, but when Saudi Arabia says what they did under the REAL market conditions they said it in, I am skeptical.

[nine_deuce]

Gas here is 3.99 a gallon for 87 octane... Thank you George W. Bush!

[4CYLPOWER92]

1) It is widely believed that their wells have already peaked. There is some creedance to this based on some information about how much water they are pumping in to get the oil out. That would indicate that they can't just up production to whatever level they want. You can only squeeze so much juice from a turnip.

On that end, Bush is 100% accurate, whether you personally care for him or not. Either demand goes down, or supply goes up. Those are the ONLY two ways to reduce the price of gasoline.

2) There are two ways to alleviate prices. Simple economics 101. You can either reduce demand and keep supply the same, or you can increase supply and keep demand the same. You can't however, have it both ways. The fact that world demand is increasing by ~20% per year, and production has stayed roughly the same, indicates to me that Saudi Arabia is not telling the whole truth, when they say they are pumping as much oil as is needed to fill demand. If that were the case, production would ALSO increase 20% per year, but it isn't.

3) It is political posturing because A) they can't pump more B) they can't admit that they can't pump more, because that would highlight the fact that their economic future is limited under their current system (oil revenue), and that crude is indeed a finite resource C) They are part of OPEC, who has recently decided that they need more $$ (because everyone knows that ONLY Americans are greedy ). If you look at the way the Saudi economy is setup, they are in a position where they need to increase income in order to support the increase in subsidies they provide to the citizens. Guess what a good way to do that is? Yup. Increase profit margin. Now, I don't personally think that they are saying "hey, let's make the US pay more." They are simply putting a commodity out there for purchase, and selling it to the highest bidder. More demand=higher bids.

4) Also, it should be noted that much of the current pricing issues are a result of speculation on the part of investors.

I am sorry, but when Saudi Arabia says what they did under the REAL market conditions they said it in, I am skeptical.

Well you are right about oil being a limited resource. And with all the technology there is today, they should accurately know how much oil is left. They could produce the oil at a faster rate, assuming the equipment is much more advanced than say, 20 years ago. That is what I was was implying when I said they have the ability to increase supply.
But it seems that no one is talking about how much is left, or they are keeping it secret like you said.
A scary thought would be to imply the Saudi's are intentionally trying to hurt our economy, which is already strained from the downed housing market, and probably war costs. Our economy and well being is based in large part on oil. Our public transportation system is very inadequate compared to Europe. A lot of Americans drive 50 to 100 miles to get to work and then back. All of our food and other products are transported using oil based fuel of some sort.
In addition to the demand overseas, there are middle men that buy and sell the oil again to our refineries over here which, I would like to know more about that. One never hears about how the entire system or process works from the original location of purchase, all the way to the pump.
Now if Bush knows they are not capable of increasing supply, it doesn't make sense that he would ask them to do so.
But it appears that whatever the reason, or whatever the theory or opinion, we are screwed. Hopefully the hydrogen fuel cell technology, or whatever technology, can get us out of this mess before we are burried in it.

[skilzz]

$3.89 for regular at the pump this morning... DUDE WTF? and my corolla gets worst gas mileage than a v8 dragster

[AccordWarrior]

$3.99 for V-power this weekend.

$40 gets me 3/4th a tank, and 20 mpg drains it way fast. I walk to the train as much as possible now

[mozzandherb]

$5.36 for 93 octane...anyone beat that?

[skilzz]

i got a 230 mile drive to make in the morning and i think its gonna cost me like $100. but i just changed the oil so hopefully that helps

[Otto]

in the $3.7x US range last time I saw it a couple days ago. Driving like grandma is gonna be the new hip fab haha

[js593]

1.30 a L here.... 74 bucks was my last fill... /cry

[tn_accord]

3.68 here in nashville