Stupid Stock market traders!

Related to the 'Angry about Gas prices' thread.Oil prices settle above $66 a barrel

" Oil prices pushed above $66 a barrel Friday after Saudi Arabia announced the arrests of 172 Islamic militants, some of whom planned to attack oil fields."

"The concern is that we know al-Qaida's number one priority is to hit an oil field in Saudi Arabia," said Phil Flynn, an analyst at Alaron Trading Corp. in Chicago. "They're just not going to quit."

Okay, perhaps they won't quit. But they ARRESTED the plotters. It didn't happen. Perhaps someday it will, but not right now. No disaster occurred today. So cut out all the shaky worry and spookage. You're speculators, not trained political savvy historians or experts. But now they freaked and the cost has jumped sharply upwards.

What does annoy me is that gas prices at the pumps will rise immediately or tomorrow, not when the actual new fuel delivery & purchase is done.

well it shouldn't matter, right? no one here seems to be bothered by increased gas prices.

Morganthe said:

Related to the 'Angry about Gas prices' thread.Oil prices settle above $66 a barrel

What does annoy me is that gas prices at the pumps will rise immediately or tomorrow, not when the actual new fuel delivery & purchase is done.

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The reason gas prices will change tomorrow is because what is in the tank (in the ground) is yet to be determined price wise. Every morning the gas company, Chevron for instance, puts out a price and that price is what your fuel in the ground is worth that day. And what you charge your customers goes off that number, you can't charge less then that price but you can charge more. You don't actually buy your truck-full of fuel when it comes and fills up your in-ground tanks. So when prices drop you also get to experience the benefit immediately (at least the next day) instead of waiting for "that" fuel to arrive.

Just when you think you've seen it all!

You know, the economists will tell you all day long that it is a simple matter of supply and demand. HOWEVER, gas prices only seem to rise with barrel prices. I NEVER see them drop with barrel prices! Again, economists will stare you straight in the face and tell you "Yes they do". Ridiculous, totally off the charts ridiculous. Wouldn't it be awesome if we could just drill a super long pipe through the center of the earth and tap into their supply! Then we could cut them off completely. Cool idea huh.

The reason economists will stare you in the face and say yes they do is --well, yes prices do drop sometimes. After every summer, gas prices drop. Then they go up again the next summer.

I remember since I started driving (in the last 15 years), gas prices going up above $1.00/gal, then dropping back to under $1.00/gal for a while before they rose again.

vonfirmath said:

I remember since I started driving (in the last 15 years), gas prices going up above $1.00/gal, then dropping back to under $1.00/gal for a while before they rose again.

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LOL - below a dollar. Must have been in TX or the South. Even in NM, during really low priced gas in 1993ish, I was paying $1.15 minimum regardless of the time of year. Up north, it was even more. I thought it was dirt cheap after the early 1980s where I'd pay over 1.65pg on a lesser pay check.

I really miss buying AAFES-Esso & Aral gas coupons in Germany. I'd angle it that I'd purchase around 800 ltrs in booklets for dh & my vehicles in late Sept & Early Feb. (At the end/beginning of each month, you can use the ration for the 2 months together)

I'd time it that the price was when prices were at the lowest just after summer and at the point before they started to rise again. It was really great for the budget & dh never had to worry his little head about affording gas for his car. I wish I could do that now -- prepay for a certain amount of gas before I have to use it during summer's high prices. Heck, I don't drive anymore or less during the various seasons :shrug-shoulders:

I really think prices increase out of habit than any anticipation of greater demand. We'll pay it no matter what. It's not like people are telling their bosses, "Sorry, so sad, but gas is too high for us to bother heading to work for you." :ROTFLMAO:

When I first got my license, you could 'fill it up' with ten dollars. Those were the days...and that was just a little over 10 years ago!

The reason economists will stare you in the face and say yes they do is --well, yes prices do drop sometimes. After every summer, gas prices drop. Then they go up again the next summer.

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I don't disagree that they do drop, I just see them go up faster than they go down. The correlation has a lag in the downward direction that's all. If you watch barrel prices and the pump prices, it just seems that way. But hey, I could be wrong too.

ThreeBeans: Thanks a lot, now I can't get the "All in the Family" theme song out of my head!

I distinctly remember filling up the tank of my Excel when CJ was a toddler and gas was .97 cents a gallong for premium. In, oh, 97 or so.