WOW! Gas is $2.99 I'm Tuscon!

[EarlyPorsche]

Originally Posted by sammyg2

I expect oil prices to hit $140/bbl this summer and gas prices to hit $4.50 in so Cal by May and get near $5/gallon by mid june.

We'll see how accurate my magic 8 ball is since I got it out of the shop.

Why do you "expect" this phenomenon and what do you have to back it up?

[Jim Richards]

Originally Posted by motion

The local gas station here in Dana Point has 87 for 3.75 a gallon. What a deal.

It's cheaper at the new Costco on Doheny Park Rd.

[pwd72s]

Originally Posted by EarlyPorsche

Why do you "expect" this phenomenon and what do you have to back it up?

Probably part of his thinking is the Hormuz (sp?) passage...

[motion]

Originally Posted by Jim Richards

It's cheaper at the new Costco on Doheny Park Rd.

True..... but I could never understand why people will sit in a hellacious Costco gas station line to save 3 cents a gallon. Could be because they all use the Costco Amex card to save 5%, but I don't have one...

[Jim Richards]

It's all timing, I guess. I have never been there sitting in a long line. I do have their AMEX card.

[H.G.P.]

Originally Posted by pwd72s

Probably part of his thinking is the Hormuz (sp?) passage...

Propaganda deflection tactic of the Non-producer 15 Trillion-Qe3 Exempt Ones.

15 Trillion+coming Qe3 is causing 100.00-150.00+/barrel, despite demand down.

[strupgolf]

In Indiana last week, $3.09, this week, $3.59. Thanks Obama, and don't let the door hit you on the way out.

[Embraer]

Strup, are you in northern indiana? if so, you can thank the Lassus Brothers. They have a completely monopoly of gas prices north of indianapolis.

[strupgolf]

No, I've never heard of the Lassus Brothers. I'm in central Indiana. But now, If somone coughs in the Middle east, or blows their nose, we pay through the nose for gas.

[EarlyPorsche]

Originally Posted by strupgolf

No, I've never heard of the Lassus Brothers. I'm in central Indiana. But now, If somone coughs in the Middle east, or blows their nose, we pay through the nose for gas.

Has it been fluctuating that much for you? I feel like its been pretty level if not cheaper in the past year or so.

[sammyg2]

Originally Posted by EarlyPorsche

Why do you "expect" this phenomenon and what do you have to back it up?

I have absolutely no insider knowledge, absolutely nothing to back it up, except a hunch.

I've been watching these commodity markets very closely for decades.
Oil has been held down over the past few years due to the global economy, and yet it's been trying to climb and recover in spite of that.
It went from 70 to over 100 for no particular reason over the past few months, except that the investors and speculators wanted it to. The supply is fine, it isn't tied to the Iran thing, the price just rose because the market feels it is undervalued.

Plus a dollar is worth much less than it used to be, I just feel that oil is like a race horse tugging at the reins and wants to run. As as soon as economies start to recover, I figure oil is gonna take off and knock us all back down, possibly into another recession.

Take it with a grain of salt and wait.
By summer you can say I was right or that I'm FOS, either way doesn't matter.

[strupgolf]

Originally Posted by EarlyPorsche

Has it been fluctuating that much for you? I feel like its been pretty level if not cheaper in the past year or so.

It's been up and down for most of the year. Just early Dec. it was $2.99 in Indy. I see it all the time as I drive around. It comes down ever so slowly, 3.40 -3.20-3.10-3.05 for a few days, the bango, up to 3.29, then 3.39, now today 3.49. It's a game played by all the major oil companies.It used to be you would see cheap prices in different areas of the country, not now, it's all the same. I drive all over and see it. Years ago, there were so many oil companies, thus different prices, now only a few, so just a few cents difference.

[chocolatelab]

I took the motorhome to mammoth before christmas. I did back flips at the gas station. Under 4 bucks for gas.

I guess its a perspective.

[Aurel]

Last time I filled was $2.78/gallon here in Albuquerque. That and a 15 minutes commute and half real estate taxes for a bigger house makes me not miss NJ at all .

[azasadny]

I paid $3.65 for a gallon of premium unleaded (93 octane) today...

[strupgolf]

Originally Posted by sammyg2

I have absolutely no insider knowledge, absolutely nothing to back it up, except a hunch.

I've been watching these commodity markets very closely for decades.
Oil has been held down over the past few years due to the global economy, and yet it's been trying to climb and recover in spite of that.
It went from 70 to over 100 for no particular reason over the past few months, except that the investors and speculators wanted it to. The supply is fine, it isn't tied to the Iran thing, the price just rose because the market feels it is undervalued.

Plus a dollar is worth much less than it used to be, I just feel that oil is like a race horse tugging at the reins and wants to run. As as soon as economies start to recover, I figure oil is gonna take off and knock us all back down, possibly into another recession.

Take it with a grain of salt and wait.
By summer you can say I was right or that I'm FOS, either way doesn't matter.

You're right there Sammy, there has been NO reason for the global market to go from $70 to $100 in just 3 months. Speculators is all there is, no reason. Bad dollar, big demand, soon, $4-5/gallon. We will all be in a pinch.

[red-beard]

Cheapest regular in town is $2.87. Cheapest Diesel is $3.37.

[sammyg2]

Originally Posted by strupgolf

It's been up and down for most of the year. Just early Dec. it was $2.99 in Indy. I see it all the time as I drive around. It comes down ever so slowly, 3.40 -3.20-3.10-3.05 for a few days, the bango, up to 3.29, then 3.39, now today 3.49. It's a game played by all the major oil companies.It used to be you would see cheap prices in different areas of the country, not now, it's all the same. I drive all over and see it. Years ago, there were so many oil companies, thus different prices, now only a few, so just a few cents difference.

In most cases the major oil companies have little control over the price at the pumps. Over 90% of all gas stations are independently owned or operated.
The owner/manager sets the price depending on what joe blow down the street is charging. They charge as much as they can while maintaining a certain volume of sales that they've contracted.

[creaturecat]

$6 / US gallon for premium here, western Canuckistan.

[pwd72s]

Originally Posted by creaturecat

$6 / us gallon for premium here, western canuckistan.

taxes!