OT: Energy prices continue to fall

Yes, but isn't that collusion and price fixing? I thought that was in violation of 15 USC?

Charles

Right on point. The real profit makers on gasoline, to the point of gouging, are the various governments. Taxes account for the largest portion of a delivered barrel of crude. Gasoline alone on the federal level is $.185c. The average state tax is $.30c. Some states even add sales taxes of up to 7% to the price per gallon. Nobody in any part of the oil business makes that kind of profit. Most producers make is less than $.20c a gallon. The average station makes $.05c a gallon. Many high volume stations sell gasoline for $.01c more than the pay to get you into their store to buy high profit items, like bottled water that has a 1,000% profit margin. Funny how one hears people at a convenience store complaining about the price of gas yet will gladly pay over a dollar for 16oz of water. Water sells in volume at $1.35 per thousand gallons. ;)

mike hunt

My sister used to work for the water company. Did you know water in bottles has to be tested WAY less than the stuff that comes out of your tap? We use a filter to trap the old sediment that comes though after the plant and it's probably better than the expensive stuff.

I was going to sell dehydrated water for Y2K survival kits. . . . I'm sure someone would have bought it. They bought pet rocks, didn't they?

Charles of Kankakee

I've seen the SUVs lined up out to the street at a local independent, to save a couple of pennies. People do strange things. I like your bottled water to gas comparison.

Gas falling hard again today... down almost 11 cents this afternoon.

Down to $2.55 here, this morning. Might be lower again this afternoon.

"Mike Hunter" wrote in news: snipped-for-privacy@ptd.net:

Nooooo kidding there!

"Charles @ Kankakee" wrote in news: snipped-for-privacy@comcast.com:

See, Nat was smart. In encouraging me to put it that way, I can now say "I didn't mean *you*!"

(I'm in a better mood today. The Prozac has kicked in) :)

No, it's responding to competition. Price fixing is when sellers get together and say "let's fix our prices". There's no communication between the sellers when gas stations do it.

Actually, there was a case a while back whereby airlines would "communicate" by putting up a very low price for a few minutes in a market. That was supposedly a signal to other airlines to raise prices or else. I think the FTC or whatever sued them on that one.

$2.53 this afternoon.

"TeGGeR®" <

Thanks for the affirmation

A tad...

:-)

Natalie

"TeGGeR®"

:-)

Better living through chemistry

Natalie

Truely an engrained behavior that defies reality. When gasoline was 50 cents a gallon, 5 cents a gallon difference between grades or stations was quite a bit. But now ... when you're already paying THREE DOLLARS per gallon, there is no logical explanation for trying to save a few cents. I heard today that Brits are paying $8 to $10 per gallon.

_Philip

You must be a youngster. Why back in the good old days I remember gas when it was .28/gal. Gas wars brought it down into the teens. I worked the gas pumps when I was 16 at a Phillips 66 station. Back when the gas station attendant washed the windshield and checked the oil. Nowdays you're lucky to get a thankyou for your credit card purchase.

I remember the last gas war. We were having a Gas War in Danville when the Arab Oil Embargo started. Gas shot up from 24.9 to 40.9 and stayed there until they fixed the pumps so they could go over 40.9! We got the last tankful at the last gas station to have 24.9 gas.

Charles of Kankakee

Wall Street Journal (or was it business week?) said recently that world oil production will historically peak at thanksgiving this year and will (decline) never be as high again. It went on to state that recent exploration (discoveries) for new oil is coming up empty in most cases.

Because of the added and increasing demand China is placing on the worlds resources, we may be in dire straits in the 'very' near future (it said) . And it said most experts are agreeing.

Fewer 'other' experts are countering and saying we have another generation worth of oil.

I don't think another generation ( best case scenario - 2 or 3 decades) is a long time (not long enough to be still dickering with the internal combustion engine). One thing I agree with Al Gore on- "The internal combustion engine is the scourge of the 20th century".

CP

Dbu. Do you recall using gas rationing coupons? I do. I was about 10.

-Philip

Were you driving at age 10? LOL

No, I was between 0 and 3 when they last used ration coupons, although I do remember them and the sticker on the windshield, this was much later and a few of the coupons were still laying around. I wish I had a few, they are perhaps collectors items of interest.

You didn't think their FREE medical care was actually free did you?

mike