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Author Topic: Oil down $16 bucks and yet gas price is stable. Back to Topics
kylesmail333

Rookie Author
Akron

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Joined:Aug 2008
Message Posted: May 25, 2012 12:04:09 PM

A couple weeks ago oil was at $106 a barrel and it was steady around that mark for a week or two. Speculators started talking and gas prices jumped while oil stayed at around $106 as usual. Now it has lowered to $90 a barrel and yet we still see the usual $.30 spikes once a week and cant seem to break the barrier to getting gas below 3.50 in canton, oh. I just dont understand because its not like anything new has come up in the news to keep the prices as high as they are while the oil prices have been lowering. I know people say we need to do something about gas prices, but no one is. Why do we put restrictions on banks now, but keep letting speculators words rule the cost of gas while the numbers show it should be around $2.00 a gallon? I admit i don't know a lot about the price of oil, but I do understand ways the producers manipulate production/news to keep prices up.
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wornoutWV
Sophomore Author West Virginia

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Message Posted: May 26, 2012 11:44:43 AM

Bowler:

"It's been going down about 10 cents a week or so in Huntingdon, PA. We're down to $3.599 now. Pennsylvania isn't a Speedway State, so we don't see 30-cent price spikes; the most our gas usually goes up at one time is 10-14 cents, and lately we've been in a downward trend."

So it's your opinion that it's mostly Speedway that leads the spikes when they occur?

I can certainly say that they were the first to raise prices last week.
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Texacoguy
Champion Author Tampa

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Message Posted: May 26, 2012 10:27:01 AM

How do you figure the price is stable?
Rack price in Tampa is down 70 cents in the past 60 days
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PatAZ
Champion Author Tucson

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Message Posted: May 26, 2012 9:09:03 AM

Not stable here,it has been working lower for almost two months.
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MertieMan
Champion Author Lexington

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Message Posted: May 26, 2012 7:41:37 AM

As I have said repeatedly, it is crooked, cut throat stealing at its best.
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Banjoe
Champion Author Winnipeg

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Message Posted: May 26, 2012 7:01:19 AM

Imagine what the pump prices would be now if the barrel had increased by $16?

We'd be all screaming zombies over the gouging that would be going on.
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WES03
Champion Author Maryland

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Message Posted: May 26, 2012 6:53:41 AM

Gas prices around here have been falling for over a month now.
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bowler93
All-Star Author Pennsylvania

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Message Posted: May 26, 2012 6:28:17 AM

It's been going down about 10 cents a week or so in Huntingdon, PA. We're down to $3.599 now. Pennsylvania isn't a Speedway State, so we don't see 30-cent price spikes; the most our gas usually goes up at one time is 10-14 cents, and lately we've been in a downward trend.

[Edited by: bowler93 at 5/26/2012 7:30:01 AM EST]
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AFOS
Champion Author Chicago

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Message Posted: May 25, 2012 6:55:17 PM

$90 oil and gas should be around $2.00 a gallon? What kind of math are you using? The cost of oil that goes into a gallon of gas at $90 per barrel would be around $2.05,** then there's taxes, refiner profits, distributor profits, dealer profits and various fees

**how many gallons per barrel



[Edited by: AFOS at 5/25/2012 7:55:46 PM EST]
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shaun_smith10
Rookie Author Texas

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Message Posted: May 25, 2012 5:50:25 PM

sucks dont it
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ZZZoop
Champion Author Virginia

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Message Posted: May 25, 2012 5:16:27 PM

>>Now it has lowered to $90 a barrel and yet we still see the usual $.30 spikes once a week and cant seem to break the barrier to getting gas below 3.50 in canton, oh.<<

Local phenomenon. We don't see any price spikes here in Virginia. Nationwide over the last month, the average price of gas has dropped from $3.83 to $3.67. Check the gas price charts on this website.
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PatAZ
Champion Author Tucson

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Message Posted: May 25, 2012 4:38:13 PM

Still going down here.
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grampi47
Champion Author Illinois

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Message Posted: May 25, 2012 1:26:02 PM

That's how things work in a cartel market...
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