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Quote:

Originally Posted by Sooner or later (Post 9909700)

That guy making the extra twenty cents still isn't making squat.

I'm not debating that....just the oft repeated narrative. I enjoy arguing with you...

....and Sammy ;)

Gas prices up? A butterfly farted in Zambezi again?

Dollar has been on a steady decline for the last year against the loonie, pound and euro. Would that effect gas prices here in the US?

Quote:

Originally Posted by Shaun @ Tru6 (Post 9909919)

Dollar has been on a steady decline for the last year against the loonie, pound and euro. Would that effect gas prices here in the US?

I ain't seen anything profound in Ohio as to swings.

The other day it was 2.19 today it's 2.39.

There are variation among station locations as well.

Am I missing something?

Quote:

Originally Posted by KC911 (Post 9909558)

My beef is the obvious manipulation and gouging at the local level...it's the American way, but just don't try to sell me the "we barely break even on gas" when I'm being bent over....I rarely bend over....except on the Interstate...

But I drive by stations all the time charging .20 more than their sister station I use just a few miles away....and that's the bigly truth.

Y'all think it takes $35 to process a bounced check or $5 to use an ATM...same, same.

Because they can....

Over 90% of all stations in the US are owned or operated (leased) by individuals or private companies, not big oil.

They charge what the market will bear. Doesn't matter tho, IT'S ALWAYS the oil companies. ............. :rolleyes:

Near my house is an ARCO that has the lowest prices around. No convenience story, just some candy and sodas etc.
They are so busy there is often a traffic jam trying to get in there.
Their marketing strategy is to make a little per gallon but move a huge volume. And they do.

Across the intersection is a shell station where gas is typically 35 to 40 cents per gallon higher. They move a fraction of the volume of the ARCO station.
Their marketing strategy is to sell doritos and marlboros in the convenience store, they are OK with only selling a little bit of gas. The market limits what they can do.
The more they jack up the price, the less they sell.

Funny thing is, they both sell the same top tier gas from the same refinery.
And some people are dumb enough to pay for it.

If they jacked up the price much more they probably wouldn't sell very much at all.

Quote:

Oil rises as OPEC compliance eclipses boom in U.S. output
Reuters February 1, 2018
By Scott DiSavino

NEW YORK (Reuters) - Oil rose on Thursday after a survey showed OPEC's commitment to its supply cuts remains in place, even as U.S. production topped 10 million barrels per day (bpd) for the first time since 1970.

On its first day as the front-month, Brent futures for April delivery gained 76 cents, or 1.1 percent, to settle at $69.65 a barrel, while U.S. West Texas Intermediate (WTI) crude for March delivery jumped $1.07, or 1.7 percent, to settle at $65.80.

That put both crude futures contracts close to their highest levels since December 2014.

In January, both benchmarks rose for a fifth month in a row with Brent up 3.3 percent and WTI up 7.1 percent, marking the strongest start to a year for Brent in five years and WTI in 12 years.

"Oil is up today because of OPEC’s reinforced commitment for 2018," said Brian Kessens, a portfolio manager and managing director at Tortoise in Leawood, Kansas.

Oil output in the Organization of the Petroleum Exporting Countries (OPEC) rose in January from eight-month lows as higher output from Nigeria and Saudi Arabia offset declines in Venezuela and strong compliance with the OPEC-led supply pact, according to a Reuters survey. [OPEC/O]

"The OPEC compliance for January was elevated but there are real questions going forward given the outsized participation of Venezuela," John Kilduff, partner at energy hedge fund Again Capital LLC in New York, said.

Oil output in Venezuela has been declining amid an economic crisis. The country produced about 1.6 million bpd in January, according to the Reuters survey, putting its output well below what it pledged to cut.

While OPEC complies with its production cut agreement, U.S. crude output surpassed 10 million bpd in November for the first time since 1970, the Energy Information Administration said on Wednesday.

"We expect U.S. crude oil output to grow in 2018 at nearly a million bpd more than last year. Buckle up, because the United States is on track to become the largest oil producer in the world by the end of this year," Kessens at Tortoise said.

Also supporting Thursday's crude market was a note from Goldman Sachs boosting their oil price target.

Goldman Sachs raised its three-month forecast for Brent to $75 from $62 and its six-month forecast to $82.50 from $75.

Oil prices, however, are unlikely to advance much above $70 a barrel in 2018, given the tug of war between OPEC and the U.S. shale industry, a Reuters poll showed on Wednesday

.

If we did not open up the production in the US and central canadia, the OPEC cuts would have us paying $5 a gallon by now.

Come on ..keystone pipeline!

Quote:

Originally Posted by GWN7 (Post 9909879)

Gas prices up? A butterfly farted in Zambezi again?

No, folks haven't caught on. Well yet.

I'll let you do da calculations, but in broad strokes: 1 battery operated pump, 1 s****-beeter car bought on craigslist and registered by a homeless dude that you can bail if in a pinch.

Here's the KEY: office parks, malls, pubs, n commuter lots but don't get greedy per 'donor'! Never leave them empty, just enough left for them to get to a gas station.

You'll find gas price volatility to be much lower.

Quote:

Originally Posted by sammyg2 (Post 9909966)

Over 90% of all stations in the US are owned or operated (leased) by individuals or private companies, not big oil. ..

Yep, that's always been the case here and where the shennanigans, and "because they can" appear. Sheetz has changed that for the better imo. Local entities, owning a few (or dozen) stations could collude and charge whatever. You boaters know what I mean....gas at a marina pump is gonna be whatever the hell they want to charge....and most do....no REAL competition. That's my only point....some are indeed making more than pennies/gal...a LOT more.