Gas jumps above $3.67, oil passes $126 on Venezuela concerns

I want to be where gas is $3.67 a gallon right now.

We are paying $3.99 and $4.01 for regular in Southern California.

gerri-berri wrote:

I want to be where gas is $3.67 a gallon right now.
We are paying $3.99 and $4.01 for regular in Southern California.

3.99 here also. And in the not too distant future, that will look cheap.

Gas prices took another hit today on bad news from Venezuela and weakness in the dollar. The fat lady is still in her dressing room.

Lance Winslow wrote:

Gas prices took another hit today on bad news from Venezuela and weakness in the dollar. The fat lady is still in her dressing room.

More likely at the pre-show buffet.

Blah,blah,blah.... It seems the futures traders never run out of excuses to justify trading up the price of oil. Speculation seems to be the norm with these fellas.

I bought gaz @ 4.00/gallon.
This is a crime against humanity. Oil producers are terrorists.

As for as high gas prices go heres the deal. Ive been riding on 2 wheels on the streets since I was 15 1/2 and Ive always felt smart at the gas pump.
Today with record prices it costs me less than $20 to fill my bike and get around for a WHOLE WEEK.
If gas went to $5 a gallon, it would cost me $25 to get around for a WHOLE WEEK. Personally I would GLADLY pay it to have less people in Suburbans, Excursions,Hummers and whatever over the top vehicle with one person in it self-absorbed on a cell phone off the road and not endangering myself and everyone else. Oh yea when I need to get groceries or pick up something at Home Depot Ive got a 4 cyl pickup.

OneDollarBill wrote:

I bought gaz @ 4.00/gallon.
This is a crime against humanity. Oil producers are terrorists.

Is it the oil producers or the corporations/stockholders making these HUGE profits that are the "terrorists"?

My wife drives a Honda Accord 34 mpg. Im 6 ft, shes 5"11 and the two kids 12 and 14 fit just fine in the back even on a 1000mi trip to see Grandma. Get a clue America and ditch those overwieght gas guzzelers. By the way around Austin here if you shop you can get regular for $3.35 a gallon, check it http://austingasprices.com/

I don't get it. Why can't American Oil Companies (no matter WHERE they have an oil rig)... why can't they just sell us their gas at cost, plus a little profit for themselves. Why do they have to sell it at a price set by "the market". Like if I had a farm, I could sell you corn at a reasonable price ... a price that doesn't depend on market SPECULATORS.

OMG california and the north-east you are getting raped! Check this price map out!
http://austingasprices.com/price_by_county.as...
Thank your politicians, OPEC isnt to blame all alone! Ca. build some refineries or dont complain!

$3.39 here today.

One reason why the mid west is booming, everything is cheaper, and the wages are higher.

Forget the preconceived image of Kansas, it isn't what I expected for sure.
And I have lived in quite a few States.

gerri-berri wrote:

I want to be where gas is $3.67 a gallon right now.
We are paying $3.99 and $4.01 for regular in Southern California.

Then support building of nuclear power plants and extracting oil from ANWR, the Gulf and off the coast of the USA

gerri-berri wrote:

<quoted text>
Is it the oil producers or the corporations/stockholders making these HUGE profits that are the "terrorists"?

The corporations (Exxon, BP, etc.) set the profit margins, the stock holders usually don't have a say (I own Lowes stock and they don't ask me how to price product). OPEC sets the price of crude arbitrarily, apparently, and then the refineries must bring it in at the higher prices. Transporting the oil also goes up in price as those ships aren't solar powered!
How it's priced at the well deserves a look, because I don't understand the agreements between the pump/well owner (whom I believe to be the oil company) and the different Arab governments. Anyone know?

Plain dealer wrote:

<quoted text>
Then support building of nuclear power plants and extracting oil from ANWR, the Gulf and off the coast of the USA

Heck our politicians would just build HEAVY DDUTY POWER lines to run the Electric to Mexico for free from the Nuclear Plants and any OIL produced
AWNR or any where else in the USA is put on the World Market and sold to the HIGGEST BIDDER---any oil the USA give to another country or sell below WORLD PRICE is bought by being the HIGHEST Bidder FIRST WITH USA Taxpayers money then given away or sold below World Price.

i want it higher i like poeple emptying their wallets to fill their vehicles

ten_dollars_gallon wrote:

i want it higher i like poeple emptying their wallets to fill their vehicles

Pssst ... the more people empty their wallets to fill their vehicles, the greater the chances of someone wanting to pop you over the head and TAKE YOUR WALLET or your vehicle or anything else you may have of value <careful what you wish for>

to solve the problem, the government needs to raise the gas tax to $2.00 from $.40, this will change our consumption behavior and decrease demand thus lowering gas prices. We pay $.40 tax while Germany pays a tax of $5.50 a gallon, they have $10 dollar gas, why are we complaining.

Also the prices are high due to speculation!!!

Old Man Charlie wrote:

I don't get it. Why can't American Oil Companies (no matter WHERE they have an oil rig)... why can't they just sell us their gas at cost, plus a little profit for themselves. Why do they have to sell it at a price set by "the market". Like if I had a farm, I could sell you corn at a reasonable price ... a price that doesn't depend on market SPECULATORS.

If corn was a $5.00 a bushel, and thats the world market price today, why would you want to sell it at $3.00, it's cutting your margins down. What is reasonable? The market is supply and demand (and speculation) Therefore the current market price is reasonable because that's what people are willing to pay for it.

JonQPublik wrote:

<quoted text>
The corporations (Exxon, BP, etc.) set the profit margins, the stock holders usually don't have a say (I own Lowes stock and they don't ask me how to price product). OPEC sets the price of crude arbitrarily, apparently, and then the refineries must bring it in at the higher prices. Transporting the oil also goes up in price as those ships aren't solar powered!
How it's priced at the well deserves a look, because I don't understand the agreements between the pump/well owner (whom I believe to be the oil company) and the different Arab governments. Anyone know?

OPEC doesn't set the price, they set the quotas for production (supply) it's the buyers bidding (demand) that dictate price, it's no different than a company stock.