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At this time it has went up again here to 3.85 and there is talk of 4.50 by the weekend. People are lining up as there is also talk of shortages. Man this is getting out of hand. People are starting to freak. If I run out I guess I can ride my horse.
Just heard on the radio that Beshear was declaring a State of emergency on the Oil companies from price gouging KY residents. Didn't take effect in time....Gas went from 3.71 to 3.99 at Krogers on Bardstown Road....Said it had hit 4.66 in Western KY....... Would top out at 5.12 before it stops.... Come on Beshear...Gustav was a fainted gust of wind and didn't hit like forecasters predicted...But it didn't stop the Oil Companies from raising gas .30 cents a gallon..... Get some gonads and do some good for the people of this State......
This was in the Chicago Tribune. the problem is not the price of oil but-----
RISING GAS PRICES
Crude oil futures are down, but you're still paying top dollar
—Joshua Boak
September 12, 2008
When crude oil rocketed to $147 a barrel this summer, gasoline prices rose too.
In the past week, the price of oil—a global commodity—dropped from about $109 a barrel to $100 Thursday, yet gasoline has jumped. Pump prices climbed 4 cents Thursday, to an average of $4.04 a gallon in the Chicago area. Late last week, gas was about $3.97.
Here are three reasons why gas price increases have outpaced oil:
Stormy weather
With Hurricane Gustav and now Ike swirling through the Gulf of Mexico, many refineries shut down.
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Growing crude oil and gasoline price gap Graphic Refineries nationwide are operating at 78 percent of capacity, about 10 percentage points below their capacity at the end of August, the Energy Department said. Lower refining capacity limits how much gasoline is available, so prices go up.
Gas station profits
Gas stations say they took a hit with record oil prices.
"The first half of the year was just awful for retailers," said Jeff Lenard, a spokesman for the National Association of Convenience Stores.
To make a profit, gas stations need a markup of 14 cents a gallon, Lenard said. The first half of this year, they averaged below 12 cents. Gas stations covered losses by charging more in August, which has kept prices from falling at the same rate as oil.
Tight gas supplies
Since crude oil prices began dropping from the July peak, demand for gasoline has outstripped supply. One possible reason: The market overestimated the size of the decline in miles driven. Regardless, weekly gas supplies have been falling for the past two months.
3.99.9 in Albany, most places are charging that same price, and its not over!Its because of the hurricanes in the gulf, putting most of eggs in one basket, does that sound smart?
I saw $4.16 today on my way home from work. Oil company's are getting the mine and we are getting the shaft. Big time!
MHall I agree with you when we can tell them all to well you know I don't want to get banned! Ryan.
Gas was 101. and change on Friday. I don't get it.
I needed gas last night in the Yota and went to the first Super A....they were out of gas! Went to the second one and the line was long but they had Premium only so I got in line expecting to get robbed but they were selling Premium at Regular Unleaded prices of $3.85 per gallon. Everyone was talking about a gas shortage. I think the hype got everyone worked up a little too much.
[QUOTE=MsgMills;339194]Just heard on the radio that Beshear was declaring a State of emergency on the Oil companies from price gouging KY residents. Didn't take effect in time....Gas went from 3.71 to 3.99 at Krogers on Bardstown Road....Said it had hit 4.66 in Western KY....... Would top out at 5.12 before it stops.... Come on Beshear...Gustav was a fainted gust of wind and didn't hit like forecasters predicted...But it didn't stop the Oil Companies from raising gas .30 cents a gallon..... Get some gonads and do some good for the people of this State......[/QUOTE]Well at least someone is trying to do something,Bush sure has'nt. Grow some Gonads.
[QUOTE=CUZZIN;339300]Well at least someone is trying to do something,Bush sure has'nt. Grow some Gonads.[/QUOTE]
Not sure Bush has the power to do anything. What should he do? Dem Congress stated they would lower gas prices but since they took control prices have gone up double or close to it. Why don't you blame them? Bush can't be the scapegoat for everything that bothers you. Correct me if I'm wrong about the prices since the Dems took control.
Got to blame it all on the Democrats...They are the ones who are basically in charge since 2006 elections....So you can't blame it on G.W. Bush as DJD said.....
Plus the price for Oil dropped another 10.00 a barrel today...I heard this on the morning news at 5:00 am.... The refinery's were missed by the Storms and Hurricain...So where's all the Supply and Demand data some of you peeps keep talking about? Looks like the Gas prices were raised again do to IKE's possible damage...But again no damage and gas sky rocketed out to the moon over the past few day's.....Think gas will fall back to where it was prior to Ike? No I think not at all until about a month from now, if that soon....Crooks is all they are, plain and simple........
The thing I keep trying to remember is why for 40 years of driving I never remember gas going up everytime the wind cut a fart before? This supply and demand bull doesn't cut it either.Yet,our hero saviors the Democrats refuse to allow new refinery's to be built or open up new drilling,WHY?
Forgot to mention that the great BeShear has done nothing except take away more from our schools,I sometimes wonder if the Dems want to keep this state poor and illiterate in order to herd the sheep better.Wonder where all that Lottery money that was supposed to go to education goes? My kid still has to sell junk for his school so they can have a few educational items.
As far as the gas price gouging,it has been a law for sometime,just doesn't get enforced very well,fact is if you were to check every pump in the state out,you'd find that a whole bunch don't dispense the amount you pay for,It's took me 6-1/2 gallons several places to fill up a 5 gallon can.
I drove to Birmingham, AL Saturday from Louisville and back Sunday (to surprise my dad for his 50th) and I passed gas stations with prices from $3.89 on up to $5.12/gallon. Now there is no sense in that! That HAS to be gouging.The exit my dad lives off of the price was $3.95-$4.65 and all of these gas stations were in site of each other!