State gasoline price passes $3 mark again

"Alan" higher

Isn't that strange? I've seen that myself too. I haven't been out today yet, but I'm in Oshawa, and yesterday it was $1.03, so we'll see how much it goes up due to "the weekend". Though, there was a time when (a few years ago) gas was over .90 in one part of Oshawa, and .70 in another part (just a few km's apart). Now a days though, I can drive all through Durham, and not see much of a price difference. In Bowmanville, usually the prices are exact, right down to the decimal (IE: 103.2). I'm actually surprised it was cheaper in Coburg, as opposed to more expensive.

Then we would see prices drop again. That does not challenge the assertion that this is just the normal summer time price increases at work. We have seen this work both ways in the past. We've seen prices rise for the summer, consumers cut back on their driving, and prices start coming down again. Then, we've seen where the prices do not come back down until after Labor Day. And, we've seen where consumers seem unaffected by the price increase. It remains that the prices always go up this time of year.

-Mike-

N> "Alan" > higher

N> Isn't that strange? I've seen that myself too. I haven't been out N> today N> yet, but I'm in Oshawa, and yesterday it was $1.03, so we'll see how N> much it N> goes up due to "the weekend". Though, there was a time when (a few N> years N> ago) gas was over .90 in one part of Oshawa, and .70 in another part N> (just a N> few km's apart). Now a days though, I can drive all through Durham, N> and not N> see much of a price difference. In Bowmanville, usually the prices N> are N> exact, right down to the decimal (IE: 103.2). I'm actually surprised N> it was N> cheaper in Coburg, as opposed to more expensive.

$1.04 in Sudbury.

A curious feature of prices here is that they move in a sawtooth pattern. There will be a sudden leap of $0.08 followed by a slow decline over the next couple of weeks. At some point, usuallly before the price has declined to the previous low, the price will spike again by about $0.06 to $0.08. Repeat, ad nauseum.

As others have noted, there is minimal variation in price among most gas stations in town.

Cheers,

Indrek Aavisto

Probably won't see prices drop a lot from here. Ever. I'd be very surprised. Once the economy returns to more normal levels prices will easily surpass what we have seen before. Watch out for taxes to boot. BO needs to raise money somewhere for his spending spree, the huge injections of liquidity and given the Dems bent it makes a perfect target. Actually gas isn't all that expensive when you consider prices over 40-50 years. I remember paying 0.35 gal and making $1.50/hr. Today's ratio is not a lot different. And the gov't takes a far greater slice.

Maybe not as much in the US, but in Canada it is pretty safe to say at least

I believe that's a close approximation. Perhaps someone will research that for us.

Premium was $3.26 last week in Chicago

harryface

The problem with all that rational thinking is you ignore the new Obama math that supersedes even the laws of nature. With OM 57 + 1 + 2 = 50. With OM you double the budget to balance the budget. With OM you save the taxpayer's money by going out on the town all the time. With OM you even change history!

What is the big deal? In CA you pay over $1,000/month on lot rent. In CA you pay $250,000 for an old, tiny home to just bulldoze it to the ground and put up a new home. Who cares about a minor thing like $3 a gallon gas?

On the day your gas went up OURS went down and is still going down a penny or 2 a day. Now THERE is a curiosity worth investigating. Crude goes up and gas goes up 10 cents a day. Crude goes down and gas goes down 1-3 cents every 2-3 days. Does not compute!

When you say crude oil "goes up," I believe you are referring to the FUTURES prices that are published, not the price that the refineries are paying for crude today.

The futures price is the price speculators are currently willing to pay for crude, that will not be becoming to the refineries for at least five or six months, not the current price paid by the refiners today.

The current price for crude coming to the refineries today is around $90 a barrel. That is crude that the speculators paid for at around $130 a barrel five or sis months ago.

The reason gas is going up are two fold. The government has raised the fee domestic companies must pay, to remove domestic crude from the ground, around 10% on the first of June. The other reason is home heating oil demand is now way down the oil companies now have thousands more tanks in which to store gasoline now that they do not need tanks for hearing oil. Thus they need not reduce the wholesale price as much to get ride of it because demand for gasoline is rising as summer travel increases.

Gasoline is not like some other commodes that can be held to the price goes up, like bricks or lumber. Gasoline is basically a byproduct of refining crude to get to the carbon stocks and heavy distillates, the parts that are worth the most money, if they can't store or get ride of gasoline the big money is lost.

Gas prices will have to come down once some of the future that were bid at $30 to $50 start to arrive at the refineries, if demand does not go up even further in the near future.

Search the Petroleum Institute wed site for information on the subject

It is worse than many realize! The FED is buying US BONDS with printed money. It is unbelievable, BO is monetizing the debt by using current debt to pay future debt with interest.

BO is a disaster, who will make Jimmy Carter look like a economist. We will have double digit inflation interest rates and unemployment at the end of his only term like we have not seen since WWII.

The Dims better start contacting your Senators and Congressmen.

The reason the feds are buying US bonds with printed money is that the government can't borrow any more money including bonds. No one will lend government money. Crazy to if you do.

BO is a big monthed promise a lot and find excuses later type of politician. Modern day snake-oil saleman. Obama sings a good line of bullshit.

But realistically, I don't expect America will change. Too many money for nothing, too many debt welchers, too many jive talking politicians....

When Obama looked like he was going to win, the markets tanked. When he did get elected, I will always remember the slud that said Obama will take car of my car mortgage.... signifies what is wrong in the USA. Too many low life stupid and selfish losers with a vote.