I know this has been thrashed out before - but gas prices are up and oil is down

[..]

WTF is going on

Crude oil price is now lower than it was in December of 2005.

[cookiedough]

NO one has a fricking clue, NO joke, on why gas goes up and why it goes down.  Is a complete joke.

The local gas station owner, mom and pop operation with 2 gas pumps in town (one 87 octane, the other diesel) has been following gas prices EVERY single day for over 35 years.  He has told me none of it makes any sense, so don't bother trying to explain pricing. 

[mrtappan]

I think it largely revolves around which supercar/megayacht/small island the oil barons wish to purchase at any given time. 

[Master Blaster]

Simple, Big Oils gotta take advantage of summer vacation time.  A few cents at the pump equals billions in profits for the industry.









 

[..]

Simple, Big Oils gotta take advantage of summer vacation time.  A few cents at the pump equals billions in profits for the industry.









 

Up nearly 50 cents in the past 2 months!!!

[..]

I misquoted the increase.

65 cents since April 9th 

[..]

http://www.gasbuddy.com/Charts

[J.Mencalice]

In America, it's about what season of the year it is and what type of petroleum products are in demand during those times i.e. gasoline vs. fuel oil vs. diesel vs. plastics vs. fertilizers vs. power consumption, etc., etc.

That and all the greed that goes along with any excuse for jacking us around.

All this is temporary.  As soon as the supply is turned off at their whim, the prices will skyrocket back to where they were a few years ago.  The beat goes on.

The federal tax on gasoline will certainly have to be increased in order to fund the repairs on the roadways and bridges of America's interstates/highways.  They have been neglected for the past 30 years and contribute to the danger for autos, trucks, and motorcycles.  It's either that or more toll roads and fees for ownership of a vehicle.   Pay now or pay later.  Damn.

[CajunRider]

Part of the problem (not all, but part) is all the new regulations that came out since the Horizon fiasco...

It took a while for the regulations to be written.  In fact, API 16d which is specific to well control, is just now out to ballot... due to be in effect next year some time. 

More regulation = more cost to produce.  More cost to produce = more cost to us.

[wiggydotcom]

I'm pretty sure instead of working to cut ties with OPEC, we're selling off oil ourselves. If and when prices do come down, it will just give local, state and federal legislatures the opportunity to raise taxes at the pump.

[Willow]

In this country the price is pretty cleanly controlled by the relationship between supply and demand.  This has been demonstrated repeatedly in the past.  As for the price of crude oil  and gasoline, there is certainly a lag between the two and the price of the crude is only one part of the cost of refined gasoline.

As for those of us who are offended by the price rise during vacation times, I have a couple of questions.  You do realize that the demand goes up significantly during Summer and holidays?  How many of us when selling a personal item would insist on asking less than buyers are willing to pay just because we "don't want to take unfair advantage of buyers"?  Gasoline companies are in business to make money for their owners.  They do, incidentally, not have a particularly high profit ratio.

If you're offended by the price of gasoline, find ways to reduce your need for it.  I do miss the days of thirty cent gallons of gasoline but I'm still finding ways to buy all the fuel I think I need.  I do tend to buy at the station with the lowest price I can find for quality gasoline.

In the USA we are still paying some of the lowest prices for gasoline in the world outside of OPEC nations.