Just got gas. Fun, fun, fun.

[TerryBPP]

[tabs]

HOW MUCH WAS IT A GALLON??????????????

[TerryBPP]

$3.00 for regular. Not to bad.

[Ronbo]

Memories of 1973

[JavaBrewer]

I filled the bike this morning at Shell, $3.19 for premium. Doing my part to save gas I have not seen any gas pump queues in CA yet.

[Groesbeck Hurricane]

$2.43 per gallon for diesel on Monday, $2.68 per gallon today. $2.75 for regular.

[Shuie]

I dont know if its because of all of the people we have here from New Orleans or if its a fear that were are going to run out, but every station here is either out or has a line out into the traffic lanes. Prices are actually lower here today ($2.56 for regular) than they were before the storm.

[TerryBPP]

Originally posted by Shuie
I dont know if its because of all of the people we have here from New Orleans or if its a fear that were are going to run out, but every station here is either out or has a line out into the traffic lanes. Prices are actually lower here today ($2.56 for regular) than they were before the storm.

I forgot you were from Baton Rouge. How did you come out? Glad to hear your ok.

[artplumber]

Terry,
Did they show a news report down your way?

Reporter to Gas station owner: You've raised your prices 30cents over the last 24 hrs? Is that because supply is tight? Do you have no gas?

Owner: Oh no! I've got plenty of gas. Another shipment coming in next week!

POS.

[Shuie]

Thanks Terry. We were without power since early Monday until this afternoon but everything is fine.

[Jamie79SC]

A friend of mine who was in the gasoline business in the early 70's once told me that if cars in a given town go from having 1/2 a tank of fuel on average to 3/4 of a tank of fuel on average, you WILL have lines and a shortage. People get worried that there won't be fuel, go out and top off the car and create the shortage they were worried about.

That's not to say don't take care of you and yours, just understand that these shortages are almost inevitable.

As for dealers raising the prices just because people will pay it – well we call that capitalism.

[artplumber]

Originally posted by Jamie79SC

As for dealers raising the prices just because people will pay it – well we call that capitalism.

When people do that to capitalize on the misfortunes of others, and the resultant mass hysteria, I call that looting. I would guess that all the people who are taking things in NO also think of themselves as capitalists - they weathered the storm, and now new resources are available to be exploited.

[Jamie79SC]

On the contrary Art. If you regulate gas prices (by moral imperative or by law), you limit the amount of resources that will be brought to bear in relieving the shortage that caused the high price to begin with.

Hoarding fouls up this formula temporarily (fortunately, people can generally only store the gas that fits in their gas tanks), but eventually, the lure of high prices brings in more product and the market returns to its pre-event status. If you keep prices low despite increased transportation costs and increased product costs (to the dealer), there isn’t as much of an incentive to bring in more product. Ergo: gas lines.

Now, wanting to keep the good will of your customers after the event might moderate the instinct to raise prices too much, but don't bet on that ;-)

[KNS]

If there is one good thing that can come from these higher gas prices (trying to put a positive spin on this), it is less dependence on foreign oil. If high gas prices stick around long enough for people to get out of their large vehicles and find alternative means of tranportation, this could happen in the long run. It happened in 1973 but it took about 20 years for americans to forget.

[Shuie]

I really want to see E85 stations popping up everywhere

[Jamie79SC]

E85? You gotta be kidding. That's a scam to keep Iowa corn farmers in $$$. Doesn't save a drop of petrolium product as far as I've ever seen.

[Shuie]

okay. pray tell. or point me to a website that explains why 100+ octane E85 is a scam. If I had the choice Id rather put money in a corn farmers pocket. Its not just Iowa either. There's a lot of corn in this country.

[Jamie79SC]

Took three minutes. Here you go: http://www.news.cornell.edu/releases/Aug01/corn-basedethanol.hrs.html

[notfarnow]

Linky says...

"Ethanol fuel from corn faulted as 'unsustainable subsidized food burning' in analysis by Cornell scientist".

I like to cook with my fuel, then drive.

Cripes, I can buy new canola oil for less than diesel right now. Bizarre... didn't think I'd see that for a while.

[JohnC]

two minutes http://www.mikebrownsolutions.com/ethanol.htm