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jato
Moderator
Joined: Aug 14, 2004
Posts: 2066
Location: San Diego, Ca.
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 Posted: Tue Mar 27, 2007 5:42 pm Post subject: Re: Another Gasoline Record |
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| Quote: | | Zardoz, jato, and others, could you let us know when you've hit new records? It will be interesting to see the reaction to high prices. |
I can tell you my Mark I Eyball indicates vehicle traffic is not letting up one bit. There has been so much growth here in the past 5 years! Traffic is a mess and getting worse each year.
I highest I can remember was somewhere inbetween the $3.30 to $3.40 range at the corner pump.
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eastbay
Moderator
Joined: Dec 18, 2004
Posts: 4412
Location: One Mile From the Columbia River
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| Posted: Tue Mar 27, 2007 5:49 pm Post subject: Re: Another Gasoline Record |
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$2.73 for regular unleaded at the station closest to my house near Portland. A few others higher and a few lower.
Interesting... last June it was about the same here as it was in the Bay Area. Now it's about 40 cents cheaper. Interesting. Maybe it just hasn't hit us yet.
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DantesPeak
Expert
Joined: Oct 23, 2004
Posts: 5899
Location: New Jersey
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| Posted: Tue Mar 27, 2007 6:22 pm Post subject: Re: Another Gasoline Record |
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Thanks all. 
Refinery problems blamed for higher gasoline prices:
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March 27, 2007 6:14 PM ET
Gasoline Prices Soar on Refinery Trouble
NEW YORK (AP) - On a tear since mid-January, U.S. gasoline futures show no sign of slowing down, with refinery outages and low imports keeping supplies tight and traders gearing up for looming strong demand with the onset of the summer driving season.
Supply concerns are behind the rally, with some refineries around the country out of action due to technical or safety problems at a time when many are, in any case, undergoing seasonal maintenance. U.S. refinery utilization was at 86.3 percent of capacity as of March 16, the lowest for this time of the year since 2002, according to government data.
"At this time of the year, we should be in the low 90s. It looks like gasoline prices will run higher," said Edward Meir, an analyst with brokerage Man Financial in New York. "We're seeing draws in gasoline stockpiles week after week, and there are still refinery concerns -- every time one comes back on, another seems to go down."
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AP/MSN
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TreebeardsUncle
Intermediate Crude
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Joined: Jun 15, 2006
Posts: 574
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| Posted: Tue Mar 27, 2007 6:31 pm Post subject: Re: Another Gasoline Record |
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Well, refinery problems are generally fleeting and insignificant. However, one wonders what is responsible for low imports.
G |
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pea-jay
Light Sweet Crude
Joined: Jul 17, 2004
Posts: 1600
Location: NorCal
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| Posted: Wed Mar 28, 2007 2:43 am Post subject: Re: Another Gasoline Record |
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Its 320 for the cheapest up here in Mendo. Remember fellow CA folks, our prices are 7.5-8.5% higher than the actual fuel cost due to sales taxes. So if you are paying 320 in normal sales tax county, the actual gas cost is only 296 a gallon. Many other states exempt gas from sales tax.
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Tanada
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Joined: Apr 28, 2005
Posts: 3647
Location: West shore Lake Eire, MI, USA
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| Posted: Wed Mar 28, 2007 5:09 am Post subject: Re: Another Gasoline Record |
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| pea-jay wrote: | | Its 320 for the cheapest up here in Mendo. Remember fellow CA folks, our prices are 7.5-8.5% higher than the actual fuel cost due to sales taxes. So if you are paying 320 in normal sales tax county, the actual gas cost is only 296 a gallon. Many other states exempt gas from sales tax. |
Sadly Michigan is not one of them, we pay federal and state fuel tax, a spill site remediation fee, and then sales tax on all of the above combined with the gasoline price itself. In effect our gasoline tax goes up the higher the price of gasoline is from the 6% sales tax. .198 state fuel tax, .18x Fedral fuel tax, total taxes and fees at $3.00 at the pump 57 cents. I know the Europeans are laughing themselves sick at this point, but they do not have to travle on my roads that are wall to wall potholes or poorly gravled and sea of mud style in the spring thaw.
Due to the sales tax at anything over 3.25 per gallon the state makes more on the sales tax than the road tax on a gallon of gasoline.
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DantesPeak
Expert
Joined: Oct 23, 2004
Posts: 5899
Location: New Jersey
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| Posted: Wed Mar 28, 2007 5:51 am Post subject: Re: Another Gasoline Record |
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| TreebeardsUncle wrote: | Well, refinery problems are generally fleeting and insignificant. However, one wonders what is responsible for low imports.
G |
Europe is not going to rescue US gasoline supplies like it did after Katrina.
| Quote: | Oil Rises a Seventh Day on Threat to Supplies of Iran Conflict
By Grant Smith and Christian Schmollinger
March 28 (Bloomberg)
In France, workers agreed yesterday to continue a two-week old strike at the port of Marseille that has left 51 vessels stranded outside the Fos and Lavera oil terminals. Total SA's Feyzin refinery has cut output by about a third, according to the company.
``Clearly, the strike is not helping, because it reduces the potential for gasoline imports to the U.S.,'' said CFC Seymour's Kowalczyk. ``We really need an increase in U.S. capacity utilization which is not happening very fast.'' |
Bloomberg
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Jester
Heavy Crude
Joined: Mar 16, 2006
Posts: 154
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| Posted: Wed Mar 28, 2007 10:30 am Post subject: Re: Another Gasoline Record |
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Burnaby BC. $1.161 per litre this morning.
Haven't seen a price like since last year when we were around $1.192.
But that was with war and hurricanes pushing the prices... |
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Troyboy1208
Intermediate Crude
Joined: Apr 26, 2006
Posts: 513
Location: Orlando FL
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| Posted: Wed Mar 28, 2007 10:39 am Post subject: Re: Another Gasoline Record |
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| 2.64 a gallon here in Orlando Florida...The local stations are starting to do reports on where the cheap gas is at again. We saw this last summer to as people started "bargain hunting" for gas. |
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strider3700
Fission
Joined: Apr 17, 2005
Posts: 2722
Location: Vancouver Island
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| Posted: Wed Mar 28, 2007 11:48 am Post subject: Re: Another Gasoline Record |
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Thanks jester. We've been lagging by about 8 hours from your price increases so I will fill up at lunch. How much was the jump?
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Jester
Heavy Crude
Joined: Mar 16, 2006
Posts: 154
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| Posted: Wed Mar 28, 2007 12:24 pm Post subject: Re: Another Gasoline Record |
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| The prices had been up and down like crazy the last few days. From saturday to now, I've seen as low as $1.091 and with stops around $1.131 and $1.141. I'm pretty sure it was around $1.109 last I saw yesterday, though I may be mistaken it's fluctuated so much the past few days. |
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DantesPeak
Expert
Joined: Oct 23, 2004
Posts: 5899
Location: New Jersey
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| Posted: Thu Mar 29, 2007 7:12 am Post subject: Re: Another Gasoline Record |
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The critical gasoline situation in California is confirmed by EIA figures released yesterday. It appears that the main drivers pushing the price there well above the rest of the country are strong demand and lack of refining capacity to produce more. Simmons was right. In his January speech, he said California would suffer because it was a stranded market.
Depsite some small increases in production and imports in the West Coast District, inventory levels are still falling. The gasoline situation for California this summer is ominous.
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Troyboy1208
Intermediate Crude
Joined: Apr 26, 2006
Posts: 513
Location: Orlando FL
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| Posted: Thu Mar 29, 2007 7:19 am Post subject: Re: Another Gasoline Record |
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| This sucks...im going to california for 10 days in July and renting a car. Maybe they have a prius at the rental car agency. |
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whatpeak
Heavy Crude
Joined: Jul 07, 2005
Posts: 129
Location: San Diego, California
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| Posted: Thu Mar 29, 2007 7:42 am Post subject: Re: Another Gasoline Record |
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| Troyboy1208 wrote: | | This sucks...im going to california for 10 days in July and renting a car. Maybe they have a prius at the rental car agency. |
It could be worse. Consider the fuel shortages in Nigeria.
BBC linky
There was another report from BBC on the radio where some poor souls were burned to death trying to get fuel from tipped over fuel tanker truck that caught on fire. |
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basil_hayden
Intermediate Crude
Joined: Aug 08, 2005
Posts: 902
Location: CT, USA
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| Posted: Thu Mar 29, 2007 8:11 am Post subject: Re: Another Gasoline Record |
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It's switchover time from winter boutique fuel to summer boutique fuel, so that may be a contributor also.
Here in CT, gasoline has been $2.69-2.79 per gallon for the past 3 weeks, with super unleaded full serve over $3 at most stations.
After Katrina the state renewed its interest in improving rail service.
All that was backburnered when prices shrank and this week it's right back in the headlines, LOL. Boil that frog! |
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