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Veteran Advisor

Hey! What's up with gas besides price??

Why is gasoline going through the roof all of a sudden?  I know a holiday season is rapidly approaching but it has already gone up 13 cents in about 10 days with even higher forecast AFTER the holidays.

18 Replies
Senior Contributor

Re: Hey! What's up with gas besides price??

Senior Contributor

Re: Hey! What's up with gas besides price??


@schnurrbart wrote:

Why is gasoline going through the roof all of a sudden?  I know a holiday season is rapidly approaching but it has already gone up 13 cents in about 10 days with even higher forecast AFTER the holidays.


Refineries have switched over to heating oil and looks like there will be a lot of demand this winter. More heating oil equals less RBOB.

Veteran Advisor

Re: Hey! What's up with gas besides price??

Phooey.

 

QE 2 and specs chasing the comms.

 

That is why Benny B should have sayed at Princeton and taken a nice pension (assuming it payed out, they're probably invested in commodities).

 

At the margin, specs destroy the benefit that (generously pre-announced) stimulus is supposed to induce. Do you think that $3+ gas before Christmas has anybody in a spending mood?

 

fwiw, h

Frequent Contributor

Re: Hey! What's up with gas besides price??

It couldn't possibly be that oil companies see another opportunity to increase their meager profits could it??
Senior Contributor

Re: Hey! What's up with gas besides price??

it appears it is the typical dumocrat price increase ---i guess they own stock in oil companies ---remember the gw act you put on ---now little man explain your way out of this one

Veteran Contributor

Re: Hey! What's up with gas besides price??

Someone told me this morning that the price of a gallon of gasoline was higher now than it was 10 days ago because of some new federal tax of 15 cents per gallon.  I have done no research on this whatsoever so take it for what it's worth.  Second hand info

Veteran Advisor

Re: Hey! What's up with gas besides price??

I can't find anything about a tax hike that has already gone into effect.  The last time it was raised was 1993 and all the taxes combined stand at about $0.48 per gal.  That gives the oil company over $2.50 per gal.  And I wondered how they made a per quarter profit like they have been!  Silly me!  The president wants a very large infrastructure project on the roads and bridges in this country but intends to pay for by closing the tax loopholes on the oil companies instead of raising the gas tax.  I seriously doubt that he will get that passed.  The repubs won't stand for that.  Just like they wouldn't allow the tax bill to be changed and held the middle and poor in this country hostage to protect some 3500 estates out of over 2.5 million estates expected to file next year.

Senior Contributor

Re: Hey! What's up with gas besides price??

Isn't it odd, when it comes to tax breaks for their fat cat buddies, deficit be da*ned!? Isn't that what they suckered their voters that they were going to to do? WHERE'S THE JOBS?? The lyin' ba**ards.

Frequent Contributor

Re: Hey! What's up with gas besides price??

It really does not take a lot of figuring why the price of fuel is going up.   It is based on the price of Crude on the World market.    And that is because of the demand for Crude oil from developing nations, China,India, etc and why is that, because the stupid people in the developed countries have bought consumer goods from these countries at the expense of their own manufacturing.       Sure, winter demand has made things worse ,  BTW a gal of Gas in Europe is around $7.50.         V8 4x4's death of the dinosaurs.