Don’t worry, just a little bump - $70 is just around the corner. Short traders just keep making those margin calls, mortgage the house if you have to. Fortunes await you! PO is for pansies and doomers. At $70 short some more ..... it is going back to $22 .... the world is awash with oil ........ reality has nothing to do with it, its all in those charts!!!!!!!!!!
Posted: Mon Jul 07, 2008 8:01 am Post subject: Price Increases / Inflation Thread
I am starting a Price Increases / Inflation thread and will be regularly posting any consumer goods price increase news articles I run across. This thread being related to energy news because a large part of these price increases are being caused by rocketing oil prices. Everyone please post any significant price increases you may notice when shopping or eating out. Here's the first one:
Michelin / BFGoodrich / Uniroyal to increase tire prices
Quote:
Michelin North America has announced that, as a result of continuing increases in raw material, energy and transportation costs, it will increase the prices of passenger and light truck replacement tire prices by 12% on Michelin, BFGoodrich, Uniroyal, private and associate brand tires sold in the US, effective September 1, 2008
The company has also announced that the commercial truck tire prices will increase by up to 8% on Michelin and BFGoodrich brand commercial truck replacement tires sold in US. This price increase will also apply to Michelin Retread Technologies retreads.
Michelin North America will also increase the prices of motorcycle, scooter and bicycle tire and tube prices by 15% on Michelin brand products sold in Canada, Mexico and the US, effective September 1, 2008. All two-wheel products delivered after August 31, 2008, will be invoiced with the new price.
A 12% tire price hike is fairly large. This is going to affect a lot of tires sold in the US sold under the three different brands. Not to mention all the bicycle and motorcycle tubes and tires.
Last edited by Hogan on Mon Jul 07, 2008 8:50 am; edited 2 times in total
Posted: Mon Jul 07, 2008 8:44 am Post subject: Re: Price Increases / Inflation Thread
Rising fuel costs hurting Canadian dairy farmers, who ask for product price increase
Quote:
The rising cost of fuel is hitting dairy farmers hard, their organization said Thursday, and it could have Canadians paying more for things like cheese, butter and ice cream.
Cost increases for dairy farmers normally go through each Feb. 1, but they say the situation is so dire they are seeking an off-schedule hike now.
"Usually we look at it once a year, but now the price of feed, fuel and fertilizer has escalated so much," said Jacques Laforge, the chairman of the Dairy Farmers of Canada.
They have asked the Canadian Dairy Commission for an increase of 3.5 cents per litre on industrial milk, which is used to make products such as cheese, butter, yogurt and ice cream, but doesn't include table milk.
Laforge said the increase - which could represent about a four-per-cent increase in prices for consumers - may come into effect on Sept. 1, if approved.
Posted: Mon Jul 07, 2008 8:55 am Post subject: Re: Price Increases / Inflation Thread
BHP, China's Baosteel agree iron ore price hike
Quote:
BHP Billiton Ltd. said Friday that China's Baosteel, negotiating on behalf of the Chinese steel industry, agreed to price hikes of up to 96.5 percent for iron ore supplies this year following protracted negotiations.
Quote:
Prices will rise 79.88 percent for iron ore fines and 96.5 percent for iron ore lump and are retroactive to April 1, BHP Billiton said.
Posted: Mon Jul 07, 2008 9:01 am Post subject: Re: Price Increases / Inflation Thread
Starbucks Japan to Raise Coffee Prices
Quote:
Starbucks Coffee Japan Ltd. said Monday that it will raise the prices of some 20 coffee beverages and five coffee bean products on July 16.
The drink prices will be raised by 10 to 30 yen, the second hike in about one year and a half, while the coffee bean prices will go up by 100 yen for a 250-gram pack in the first price increase in about six years.
The price of a small caffe latte, for example, will go up from 310 yen to 320 yen.
Posted: Mon Jul 07, 2008 9:06 am Post subject: Re: Price Increases / Inflation Thread
inflation is a big lie
the dilution of the money supply is essentially why everything ends up costing more. Also because there is more money in circulation, people can get paid more. Think about it, how much is £ or $ worth today. How much was it worth 100 years ago ?
Where as, if oil gets expensive, there is the same amount of money in circulation, it's just been allocated elsewhere, ie to energy.
But you'll never ever hear this on tv.
The retard f.ucks will just go, oh look, inflation, let's raise interest rates. Yeah dude, that'll fix everything... lol. It fixed things before because it actually slowed down the money creation process. But oil 'inflation' is something totally different. Same deal with food.
Posted: Mon Jul 07, 2008 9:06 am Post subject: Re: Price Increases / Inflation Thread
European carmakers to raise prices
Quote:
Four European carmakers are raising sticker prices for their new cars amid rising costs for raw materials, manufacturers say.
Renault, Fiat, Volkswagen and Nissan, which has an alliance with Renault, have said they are raising their prices, and more price hikes are likely, Fiat group Chief Executive Officer Sergio Marchionne told Automotive News Europe.
Increasing raw material prices are forcing the industry to continuously review its pricing policy. That's why we are considering another increase of Fiat Group Automobiles list prices of some percentage points from September, Marchionne said.
The average cost of raw materials in a car rose to about $1,400 in April from about $157 in April 1999, a cost analysis by Global Insight found.
Posted: Mon Jul 07, 2008 9:11 am Post subject: Re: Price Increases / Inflation Thread
US Airways matches United fare hike; all majors aboard
Quote:
US Airways joined rivals in climbing aboard the industry's latest attempt to raise prices over the weekend, marking the 15th successful airfare hike of the year, Rick Seaney of farecompare.com reported Monday.
The airline matched United Airlines' $20 roundtrip fuel surcharge, Seaney said in an email message. United increased its fuel surcharge Wednesday.
"I expect pricing to be very volatile in the next few weeks as airlines attempt to keep planes full for the last wave of summer air travel before kids head back to school," Seaney said.
Posted: Mon Jul 07, 2008 9:37 am Post subject: Re: Price Increases / Inflation Thread
Minerals Technologies Inc. Announces Price Increases for Talc Products
Quote:
Minerals Technologies Inc. announced today has decided to increase prices for Barretts, Montana, talc by 8 percent to 10 percent depending on product. This increase will be effective August 1, or as permitted by contract.
The price adjustments for talc products are necessary due to continuous cost increases in energy and fuel necessary to operate the Barretts, Montana, facility that mines, processes, packages and transports the talc.
Talc has many uses. The most commonly known application would be in cosmetics and dusting, body and baby powders, where the oleophilic (oil-loving, hydrophobic) nature of the mineral helps to absorb natural oils, and the slippery nature presents a pleasant feel. While this usage is well known it is a minor segment of the talc industry as a whole.
The paper industry is the largest consumer of talc, where it is used as a filler to enhance opacity and improve printing properties. It is also used as a pitch control agent in the production of wood pulp to remove resinous, sticky remains of wood, which otherwise would create dark or thin spots in the paper. In the ceramic industry, which is also a large consumer, talc prevents delayed glaze crazing, lowers firing temperatures, and reduces fired shrinkage. Ceramic wall tile contains up to 65 percent talc in the formulation. Another important application is in paint and coatings. Talc improves exterior durability, controls viscosity, brushing, and gloss properties. It also reduces paint formulation costs, by extending or replacing more expensive resins and solvents.
Posted: Mon Jul 07, 2008 9:43 am Post subject: Re: Price Increases / Inflation Thread
Reichhold Announces Price Increase on Unsaturated Polyester Resins and Vinyl Ester Resins Sold in North America
Quote:
Reichhold, Inc. announced price increases today of $ 0.08 per pound on all unsaturated polyester and vinyl ester resins sold in North America for the composites industry. This increase is effective for all orders shipped on or after August 1. Reichhold will also complete the implementation of the $0.04 per pound price increase for unsaturated polyester and vinyl ester resins sold in steel drums which was previously announced on May 30, 2008.
"Raw material, steel, transportation, and energy costs have continued to escalate to unprecedented levels with no relief in sight," said Al Naser, Reichhold vice president of sales, Composites North America.
Quote:
Reichhold is the world's largest manufacturer of unsaturated polyester resins and a leading supplier of coating resins for the industrial, transportation, building and construction, marine, consumer and graphic arts markets
Posted: Mon Jul 07, 2008 9:52 am Post subject: Re: Price Increases / Inflation Thread
Celanese Announces Emulsion Polymers Price Increase in North America
Quote:
Celanese, a global leader in emulsion polymers, announced today that it will increase the price of all vinyl-based and acrylic-based emulsions sold in North America according to the following schedule:
Celanese cited continued, rapid increases in raw materials, feedstocks, energy, and transportation costs as the primary drivers of this announcement. This increase applies to all applications and will be effective for shipments on or after July 15, 2008, or as contracts allow. This announcement is in addition to the one previously released on May 14, 2008.
According to Wikipedia, emulsion polymers are basically synthetic rubbers and plastics. Another huge company that supplies materials to a large number of product manufacturers.
Posted: Mon Jul 07, 2008 9:59 am Post subject: Re: Price Increases / Inflation Thread
Hyundai Raises Car Prices in U.S. on Material Costs
Quote:
Hyundai Motor Co., South Korea's largest automaker, raised prices for its Elantra and Accent small cars exported to the U.S. to cover the rising cost of steel and other materials.
Hyundai boosted basic prices for the Elantra by $300 and for the Accent by $200 as of July 1, Hyundai's Seoul-based spokesman Jake Jang said in a phone interview today. The starting retail price for the Accent is $10,775 and $13,625 for the Elantra, according to Hyundai's Web site. Yonhap News agency earlier reported the price increase.
Posted: Mon Jul 07, 2008 10:04 am Post subject: Re: Price Increases / Inflation Thread
Milk prices rise above $4 a gallon for first time (New York)
Quote:
Milk is about as expensive as gasoline nowadays.
The monthly threshold price for milk - the highest amount retailers can charge in stores - shows a large increase for the month of July.
For Upstate counties, retailers can charge $4.16 for a gallon, $2.13 for a half-gallon and $1.10 for a quart of whole, lowfat or skim milk. These prices are up 45 cents per gallon and 22 cents per half gallon from June.
That puts milk in the $4 or more a gallon area for the first time.
Joined: Sep 08, 2005 Posts: 572 Location: Atlanta, GA
Posted: Mon Jul 07, 2008 10:05 am Post subject: Re: Price Increases / Inflation Thread
In Econ 101, they teach you that as demand falls (like in a recession / depression), prices will fall as well, to follow demand down the curve, so to speak. But with the cost of oil being the cause of this current round of inflation, does that mean prices will rise endlessly even as demand falls?
Looks like to me that these companies are going to be pricing themselves right out of the game, and they sure are in a hurry about it, too.
Guess it's time to rewrite the economics textbooks...hehe. _________________ Nowhere to run, nowhere to hide...
Posted: Mon Jul 07, 2008 10:11 am Post subject: Re: Price Increases / Inflation Thread
Rock-Tenn Company Announces Price Increase on all Recycled Paperboard Grades
Quote:
Rock-Tenn's Paperboard Division will increase all coated and uncoated recycled paperboard prices $50 per ton. Unprecedented increases in the cost of manufacturing makes this short notice of implementation necessary.
Rock-Tenn Company is one of North America's leading manufacturers of paperboard, containerboard, packaging and merchandising displays
Caraustar Announces Price Increase on All Grades of Uncoated Recycled Paperboard
Quote:
Caraustar Industries, Inc. announced that it will increase prices by at least $40 per ton for all uncoated recycled paperboard grades as well as make certain adjustments for freight allowances effective with shipments on and after July 17, 2008.
Greg A. Bartlett, vice president sales, Mill Group, stated, "These increases are driven by escalating input costs that have established a significantly higher cost operating environment."
Caraustar Industries, Inc. is one of North America's largest integrated manufacturers of 100% recycled paperboard and converted paperboard products.
Posted: Mon Jul 07, 2008 10:13 am Post subject: Re: Price Increases / Inflation Thread
Byron100 wrote:
In Econ 101, they teach you that as demand falls (like in a recession / depression), prices will fall as well, to follow demand down the curve, so to speak. But with the cost of oil being the cause of this current round of inflation, does that mean prices will rise endlessly even as demand falls?
Looks like to me that these companies are going to be pricing themselves right out of the game, and they sure are in a hurry about it, too.
Guess it's time to rewrite the economics textbooks...hehe.
Hehe. I've noticed first-hand that all these frequent price increases are really starting to scare the sh*t out of a lot of people.
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