Under 100.00 a Barrel

[StinkerBell]

I am listening to the news and Fox news just reported (hopefully I heard correctly) that a barrel of crude oil just dipped under 100.00.

[ScottA]

Then why is gas here back up to $3.69 a gallon? Got all the way down to $3.29 three weeks ago.

[StinkerBell]

Interesting how it hit this number with Ike on the way.

[Daddymem]

Could be the fact that Saudi Arabia pulled out of OPEC:
http://www.shortnews.com/start.cfm?id=73331

[apaknad]

well, just to show how helpless we are to the whims of big oil(read slaves, sorry muldoon) up here in south central michigan, two hours ago i went into my small town to get a head of lettuce for tacos and at the one gas station there was lines in both directions 1/4 mile long for gas with police cars/lights flashing and cops directing traffic. i asked the guy in the grocery store what was going on and he said that gas stations to the east and west had raised prices from $5.05 to $5.90 a gal. THIS IS MICHIGAN!!! and the hurricane hasn't done anything in texas yet to any degree! big oil should be broken up(it is a virtual monopoly) like they did to standard oil and these execs should be charged with treason along with mac&may execs! before you vote in nov. check to see who has ties to big oil(including their advisors).

[ScottA]

That big a jump is price gouging. It's illegal in some states. You guys are getting robbed if gas is $5.90 there.

[apaknad]

i will try to follow up on this by A: going to town tomorrow and B: checking gas buddy! again to reiterate today's scene... panic in the streets.

[peternap]

That big a jump is price gouging. It's illegal in some states. You guys are getting robbed if gas is $5.90 there.

BOY....ain't that the truth!

Gas went from 3.40 something to 3.80ish today.
And I thought that was bad.

[desdawg]

I filled up at $3.539 yesterday but that station is 25 miles away so I won't be checking it today. I guess I could call them on the phone and ask the price. No one has posted it on www.azgasrpices.com which is gas buddy for this area. Two other stations in Casa Grande are posted one at $3.51 and one at $3.64.

[apaknad]

how strange... you remember my post yesterday on gas spiking to between $5 and $6/gal. according to what they told me in the grocery store. well it seems that gas is $3.91/3.99 here according to gas buddy.com. after seeing the panic at the gas station with hundreds of cars it makes me wonder how all those people thought gas was going to go that high at the same time?

[benevolance]

$3.39 to $4.79 in less than 24 hours here in the low lands of South Carolina.. This was on friday before anything had even happened...

Went to get my wife from work late thursday and there were lines at gas stations here on thurdsay night.

What makes me mad is when stations jack up the price instantly like that... the gas that is in the tanks in the ground was bought cheaper than what they are charging for it....And they are ripping us off...we get mad at the big oil companies... but individual stations are just as guilty

Another thing that makes me angry is that consumption was way down because of the price of oil... So the refineries in America all cut back production to just barely meet demand....They do this on purpose that way if there is ever a crisis they can double their profits... heaven forbid they stockpile a little finished product every year to get us through hurricane season without  gasoline spiking in price...

There needs to be a law saying that oil refineries must have the capacity to produce 40-50% more than we can consume (which it cannot right now...That way if there is a problem in one region of the country we will not suffer shortages....Also there needs to be a law that we have to have enough finished product to run the country on indefinately so if there is a hurricane or tornado and things shut down for a week or even a month... things can resume as normal without the price gouging and fuel rationing.

[desdawg]

I asgree with you Peter. I have seen stations that don't relent on their high prices until all of the nearby competition has almost forced them to do so. That is one of the reasons I like the gas buddy site. Other consumers report those prices and give us the opportunity to avoid the worst offenders hopefully without taking us out of the way so far we lose any savings by traveling. Some definitely deserve to be avoided.

[glenn kangiser]

We have one that filled his tanks when it was high and diesel there is still $5.39 a gallon.  Last time he waited for it to come back up ---

[benevolance]

There are some stations here that ran out of gas on Friday when people went mad and made a run at all the local stations... They shut it down after they sold out of their really expensive gas and they have not bought more at the high price...They have sat without gas and have the islands barricaded off with yellow plastic tape thinger ma do...those are the worst offenders to me... They instantly raise the price and sell off all their gas at the high price but refuse t obuy expensive gas if they think the price will drop in a couple days...because they will have to make less money or lose on the fuel when the price drops

Those stations need to burn