What's Happening with Gasoline Prices

[DIRTROAD]

The wife filled up today for $2.15 / gallon for the 87 octane.

This was at one of the grocery store stations.

 

[kenmac]

If my memory serves me correctly... Oil prices have been dropping for some reason... While gasoline has dropped.. Diesel still the same 2.499

 

[2manyrocks]

In middle Tennessee, regular went up to say $2.48 a few weeks ago and is now $2.37 locally anyway. A lot of that is our Tennessee fuel tax.

I agree with Eddie's thinking. If the economy weren't so bad, I think the prices would be worse.

 

[Charlesaf3]

The govt actually publishes the real unemployment number, its just buried under the headline number.

Called the U-6, and its up over 16%.

And I'm with Eddy - those people aren't driving much, so demand is down. Then through the end of the summer driving season in, and there you go.

 

[weldingisfun]

Scooby074 and anyone else with the same thoughts, please keep in mind when you think it isn't right for the oil companies to be making a profit during bad economic times; profits = jobs, exploration and expansion.

0 profits = layoffs, firings and shutting down operations which then = no fuel at the pumps which = this thread shutting down.
Or the worse case scenario, government take over of the oil industry.

 

[Bedlam]

And also remember there werent any hurricane warnings yet

 

[LBrown59]

Originally Posted by charlz
Yep, end of the 'summer driving season' ... gas prices will drop for a little while as demand drops off.... then they switch from making gasoline to making heating oil and diesel... then the gas prices will go back up for winter as less gas is refined and stocks are 'low'.

[/quote]
It may work that way in Idaho but in Louisiana where many of the refineries are, they continue making gas during the winter driving gas prices down but stop making diesel in a few refineries and instead make heating oil and this drives the price of diesel up

.
__________________

I doubt this since in general many if not most refineries have more than likely completed switching over to just one fuel for everythinhg during the last 2 or 3 years. .

 

[charlz]

Originally Posted by charlz
Yep, end of the 'summer driving season' ... gas prices will drop for a little while as demand drops off.... then they switch from making gasoline to making heating oil and diesel... then the gas prices will go back up for winter as less gas is refined and stocks are 'low'.

It may work that way in Idaho but in Louisiana where many of the refineries are, they continue making gas during the winter driving gas prices down but stop making diesel in a few refineries and instead make heating oil and this drives the price of diesel up

.
__________________

I doubt this since in general many if not most refineries have more than likely completed switching over to just one fuel for everythinhg during the last 2 or 3 years. .

Why would they make heating oil all year long? More cars driving in the summer and people using heating oil in the winter is fact, not speculation.

 

[RobJ]

Demand is WAY down. Refiners are cutting some production(we are a refiner). We are not exporting diesel like we use to because the world wide demand for diesel is way down, especially China. Demand started falling off last year. And factor in that India has a huge refinery about to or has just come on line. I think its about 600,000 BPD, IE a lot!

But its still funny to see the range. I filled up the truck last week for something like 2.35, drive up to east Texas and it's about 2.25 if I recall in Riverside. Leave Elkhart and get to Madisionville and its like 2.29 at Buckys. Then get to College Station and its 2.51(on Monday!). Fill up again in Spring for 2.17.

 

[tallyho8]

Originally Posted by charlz
Yep, end of the 'summer driving season' ... gas prices will drop for a little while as demand drops off.... then they switch from making gasoline to making heating oil and diesel... then the gas prices will go back up for winter as less gas is refined and stocks are 'low'.

It may work that way in Idaho but in Louisiana where many of the refineries are, they continue making gas during the winter driving gas prices down but stop making diesel in a few refineries and instead make heating oil and this drives the price of diesel up

.
__________________

I doubt this since in general many if not most refineries have more than likely completed switching over to just one fuel for everythinhg during the last 2 or 3 years. .

I guess our refineries in Louisiana are more behind the times than your state-of-the-art Ohio refineries.