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Fill your tanks now!

muleman

Gone But Not Forgotten
GOLD Site Supporter
Gas prices will be spiking over $4 a gallon with Refiners shutting down ahead of the hurricane. 80% of the wells in the gulf are shut down till the storm passes. With normal shutdowns and several fires at refineries out west prices are predicted to soar to records never before seen.
 

bilbo

New member
The biggest difference I saw today was .45 jump in gas prices, yet on the drive home I heard the barrel of oil closed at $96......... same as the last week worth of trading.

I feel raped..

Someone Hold Me!
 

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
The hurricane will only cause a very SHORT TERM interruption and spike in the price.

HOWEVER, the largest refinery in Venezuala just blew up (about 36 hours ago) and that will boost the demand for export of refined products from the USA to South America to fill that void. That will be a LONG TERM issue as it may take more than a year before that refinery is back in production.
 

bilbo

New member
The hurricane will only cause a very SHORT TERM interruption and spike in the price.

HOWEVER, the largest refinery in Venezuala just blew up (about 36 hours ago) and that will boost the demand for export of refined products from the USA to South America to fill that void. That will be a LONG TERM issue as it may take more than a year before that refinery is back in production.


Would that not have made the price of a barrel close today at a higher price?
I submit there is NO ryhme or reason to the rapeage
 

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
Would that not have made the price of a barrel close today at a higher price?
I submit there is NO ryhme or reason to the rapeage
The barrel price is based on OIL. Oil prices are based on supply and demand of the product. The demand has not gone up for oil because of the accident.

We are talking about REFINED GASOLINE. The demand for gasoline is fairly stable, with seasonal adjustments. But there is now a supply interruption for parts of South America. That should, ultimately drive up the demand for gasoline that is refined in the USA. I have no idea at what capacity our refineries are running, but if they cannot handle the increased demand then we will have some pricing pressures at our pumps.
 

tiredretired

The Old Salt
SUPER Site Supporter
Isaac is a CAT1 storm. I would think all of the offshore wells in the gulf are designed to withstand much stronger than that. They should be back up and running in a few days I would think.
 

squerly

Supported Ben Carson
GOLD Site Supporter
The barrel price is based on OIL. Oil prices are based on supply and demand of the product. The demand has not gone up for oil because of the accident.

We are talking about REFINED GASOLINE. The demand for gasoline is fairly stable, with seasonal adjustments. But there is now a supply interruption for parts of South America. That should, ultimately drive up the demand for gasoline that is refined in the USA. I have no idea at what capacity our refineries are running, but if they cannot handle the increased demand then we will have some pricing pressures at our pumps.

What about diesel?
 

bilbo

New member
What about diesel?


NO ryhme or reason to the rapeage.... They don't even give us an excuse any more on the radio. Just the price has increased a national average of .12, now for what is happening to Tim Tebow.....

I would accept this nonsense better if they would at least give me an excuse to bitch about!!

I would not, could not, with a fox,,, in a box!

SOMETHING!!!!!!!!!!!!!!
 

muleman

Gone But Not Forgotten
GOLD Site Supporter
Right now there are 2 refineries in California damaged by fires. One large one in Delaware has shut down and 3 others are doing seasonal maintenance and changeover to winter fuels. This will last longer than this storm. The ones shutdown can be brought online quicker than normal but it will still be a few weeks. This is the normal slowdown time for refiners as the tank farms use up their summer product and switch to winter blends. Diesel is being driven by exports to Central America who have become big customers in the last 5 years. They will also be a major LNG customer when the terminal under construction on the lower Mississippi comes online. Several LNG tankers that were built to import gas into the northeast before the Marcellus plays took off will be running across the Caribbean.
 

DaveNay

Klaatu barada nikto
SUPER Site Supporter
It has nothing to do with storms or refinery fires.

I leave on a 2600 mile trip on Friday, so they are jacking the price just to fuck with me.
 

muleman

Gone But Not Forgotten
GOLD Site Supporter
Neighbor just called and said our local place jumped up to $3.89. Better go fill up the empty 5 gallon cans for the mower.
 

muleman

Gone But Not Forgotten
GOLD Site Supporter
Went down to fill up cans and the suburban. They rolled the price back to $3.84 to match the next closest station.:clap:Still took $107 for 2 five gallon cans and 1/2 tank in the suburban.:hammer:
 

muleman

Gone But Not Forgotten
GOLD Site Supporter
They will all go up with the next tanker load. My old boss told me over the weekend that he will only deliver gas at rack plus 20 cents. That is only for old customers or he would not even do gas right now.
 

bczoom

Super Moderator
Staff member
GOLD Site Supporter
They will all go up with the next tanker load. My old boss told me over the weekend that he will only deliver gas at rack plus 20 cents. That is only for old customers or he would not even do gas right now.
What's "gas at rack"? Pump price?

Around here, delivered fuel costs the same as at the stations give or take a penny. A bit more for under 250 gallons.
 

muleman

Gone But Not Forgotten
GOLD Site Supporter
Rack is the price when you load at the terminal. Then he charges 20 cents to haul it and is probably losing money doing it. He delivers gas to some old accounts that he has had for 30+ years. He had quit taking new gas customers a few years back as it was a losing proposition then. He is seriously wanting to get out of the fuel business totally. Too volatile of price swings. Some of the big hedge firms even took a beating this past winter.
 

bilbo

New member
I'm still pissed and I'll NEVER believe that crap about how the stations only make one penney or two a gallon............ when they gouge us for over $.45 in one day.

It takes more money now to fill my lawnmower than it used to take to fill my Dodge Charger. Per min. wage that a loss of 5 gallons to one hours work in comparison.

We are being raped!
 

Snowtrac Nome

member formerly known as dds
GOLD Site Supporter
it's been a while since i worked in the retail buisness given what the dollar is worth now my guess is they are making about a quarter per gallon back in the 90's when i used to write the checks the profit was only 5 cents a gallon. but there was always a bonus at the end of the month if you sold over a certain amount of gas between the money made in the shop and and the rebatse the boss made a lot of money.
 
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