Aces High Bulletin Board
General Forums => The O' Club => Topic started by: Regular on September 11, 2001, 10:46:00 PM
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Heard prices for petro skyrocketing since the attack in NYC. Sister in Chicago said people where fistfighting over fuel at a gas station that ran dry.
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I live an hour west of Indy and prices are anywhere from 1.49 to 4.50 a gallon. Lines were like 45 mins at one station. The local station in town is out of regular unleaded already.
I call it price gouging. The gov. is supposed to look into it first thing in the morning.
Rocket
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$5 per gallon......
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mrfish, you are in SF.
Just filled my tank at $1.79, but I've heard $5/gallon on the radio
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Prices started today here at $1.50. Rumors had it going to 4.00 or more but in reality the only went up to around 2.00. Still sick price gouging.
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I filled up my near empty 30-gallon tank today (2pm) at about regular prices for OR ($1.69/gal). Haven't checked since then.
SOB
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Originally posted by mietla:
mrfish, you are in SF.
Just filled my tank at $1.79, but I've heard $5/gallon on the radio
yes, i should be clear, i think it is about $2.21 to 2.30 here. i meant in "places" but didnt specify.
i am hearing $5 from some of my relatives in oklahoma (midwest city/oklahoma city area). apparantly they had a local news story on it.
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Panic price gouging will settle shortly. Just remember who jacked it up and vote with your wallet later. Another idea is to check with your local county district attorney's office and let them know the price situation. There are controls for gouging.
Mav
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Bastards.
Gas prices here in the DC area are $1.50 a gallon. To gouge prices is sickening and unpatriotic.
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I do not think it is gouging. I heard that Tanker ports have shut down in the gulf, as well as other facilities related to making gasonline. I had to wait a half an hour to get gas at $1.79/Gallon. The gas station I went to said that the refinery would not release any more gas to them. I don't think this is all the fault of "price gougers."
-MarkVZ-
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Originally posted by Maverick:
Panic price gouging will settle shortly. Just remember who jacked it up and vote with your wallet later
We had similar things happen in the UK last year during the fuel shortage due to strikes.
Fully agree with Mav. A number of independant retailers found out what a long memory some of us have and has since been forced out of business. These people are no better than looters IMO. :mad:
TTFN
snafu
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It's a shame we are so dependent on overseas oil :( But, at least the carabo are free, couse you lack choise, but the carabo are safe and free :) And we know who is more important, don't we?
Heard yesterday the price of oil was $36/barrel and climbing. $5.00/gal gas may be cheap gas in the end so buy it now while you can!!
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Prices were 1:60 to 1:65$ yesterday morning. By 10 last night it was up to 1:99 and cars were lined up 4 to 12 deep to get in.
No excuse for that kind of gougeing IMO.
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As somebody who writes for the retail petroleum industry, price gouging is unacceptable but...
Those prices may be a reflection of what the retailer/marketer is paying on the spot market for his or her supply, given the shutdowns. The alternative, as has happened with some operations in Calif. during recent price inversion periods (where the general price on the street is lower than the retailer supply price) is to close the station until the market returns to normal.
These retailers tend to be small business people who typically have very low gasoline margins (under 10-cents per gallon, sometimes 2-5 cents at most) and are generally being driven out of business as operations like supermarkets start selling gasoline as a "loss-leader" product.
Anyway, this should only be a temporary adjustment. I likely expect OPEC (which includes Venezuala) to be fairly mild in their crude prices for some months after yesterday's tradgey.
Charon
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it's so amusing how instantly the gas prices go up, but when the price per barrel of oil comes down, it takes several days or weeks before it's seen at the consumer level.
as it is, I got my gas yesterday afternoon at 1.36/gal (we don't have as many local taxes here on gasoline as other places) and I didn't bother checking this morning. Oh, I needed gas anyways, wasn't just topping off the tank. hehe
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The govenor of Texas announced this morning that anyone in the gas, rental car, airline reservation business that is found to be gouging will be dealt with very quickly, He announced an emergency number for people of the state to Texas to call if they are subjected to this.
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45 minutes after the first attack gas was $1.39 a gallon at a stretch of stations. Less than 20 minutes after the first tower collapsed I went by those same stations and gas had jumped to $1.49, $1.79 and $1.89. However this morning all those stations were back down to $1.49. Still a $0.10 a gallon increase over the same time yesterday. To me that is still gouging the price when two exits down the interstate have not increased their cost per gallon even one penny.
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still $1.36/gal when I went to lunch.
True, the price to the retailers will probably go up soon. But that's on the gas that they will be buying, not what they've already paid for in their tanks right now. What Reschke is reporting is gouging for sure.
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Just filled, no line, $1.36 in austin.
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Last night the line at the gas stations in my local (small town) were all packed with about 20-30 cars. I just laughed! WHAT were those people thinking? It was panic. My own car... having about 1/4 a tank and quite a commute to work, needed some fuel but I knew the lines would gone by morning... heck... everyone in town was already in line! I knew every car in town could be fueled in a few hours... By morning there no one there. Prices went up about 20 cents though.
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people often toss their money into commodoties (gold, oil, farm products etc) when events may devalue other investments that depend on unstable economic variables.
in otherwords, if this crash makes a company go broke, their shares are worth nothing whereas oil, gold etc will always be worth some value regardless.
this may play with the oil price a bit but most of it is panic exploiting gouging at the owner-operator level. someone with a better knowledge of economics may be able to explain it better.
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Went out today and prices are still the same around Salem.
SOB
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Even if supply price increases were announced yesterday, they did not have to pay more for the gas already in their tanks. Our local gas stations are notorious for this kind of thing. It sickens me.