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(CNBC)   Gas prices to increase 10 to 20 cents per gallon. Why? Because fark you, that's why   (cnbc.com) divider line 187
    More: Scary, sticker shock, distillates, vacation time, gas prices  
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11118 clicks; posted to Main » on 11 Jul 2013 at 5:31 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-07-11 08:21:20 AM  
I'm going to make a smug comment bout how oil speculators ruin my life but I see others have beat me to it.
 
2013-07-11 08:21:43 AM  
Whatever, two years ago my wife an I sold the van and truck. We bought two used Civics (hers a hybrid). I figure gas will have to be $8 for us to spend what we were before. "Fark you" right back, gas companies.
 
2013-07-11 08:25:38 AM  
We pay $7.70 per US gallon in the UK for petrol, of which the vast majority is tax, and only 15% of that tax goes on maintaining the road network - fair it isn't.

Therefore I too couldn't give a flying wank with a ferret's paw about the price of "gasoline" in the US.  Unless you can start a successful revolution or build your own refinery in your own private country, you'll just have to bend over and take it up the Hershey highway like the rest of us - except you're getting it with a hot dog and we're getting it with a cucumber.  Stop snivelling already, start walking to the store and MTFU.
 
2013-07-11 08:26:49 AM  
i.imgur.com
 
2013-07-11 08:30:13 AM  

Deep Contact: The dollar dropped to the lowest in almost three weeks against the euro after Federal Reserve Chairman Ben S. Bernanke said inflation and unemployment rates show the economy still requires monetary stimulus.
 Hmmmmm.


You mean the euro and other currencies like oil?
 
2013-07-11 08:31:26 AM  

Richard Saunders: Because electricity is free.


Of course it isn't free.  But it can be created by a wide range of methods ranging from coal (dirtiest) to hydro (cleanest).  There ain't no free ride, but you have a little choice in who you pay.  And I'd much rather my money go to Des Moines than to Riyadh, all other things being equal.
 
2013-07-11 08:33:03 AM  

Tat'dGreaser


LordJiro: Not saying Obama doesn't have ties, but the ties were much deeper and stronger with Bush.

Obama seems to more or less let the oil corps do as they please. Bush actively helped them fark consumers over.

Yet here we are still getting actively f*cked over, so what does that say?


It says that Bush got the active-f*ck-over ball rolling and that Obama has not done anything to curb their active-f*cking-over.

Bush's was an error of commission. Obama's is an error of omission. Neither is cause for happyjoyjoy but I tend to think that commission is worse.
 
2013-07-11 08:34:05 AM  

LordJiro: Tat'dGreaser: LordJiro: Onkel Buck: Damn if this was 6 years ago we could just blame Bush. I remember he got blamed a lot for high gas prices, Barry not so much.

It's almost like Bush and his administration (and the right wing in general, for that matter) had rather extensive ties to oil corporations and the royal family of the largest oil exporter on the planet, while Obama doesn't.

Oh good lord dude

Not saying Obama doesn't have ties, but the ties were much deeper and stronger with Bush.

Obama seems to more or less let the oil corps do as they please. Bush actively helped them fark consumers over.


I'll second the "Oh Dear Lord dude". Your tinfoil/donkey hat is on wayyyyyyyy to tight, dude.
 
2013-07-11 08:35:43 AM  
But there is this nice lady on TV who keeps telling me that fracking will provide the US with all the oil and natural gas we want for 100 years at good prices and with no environmental damage.
 
2013-07-11 08:37:47 AM  

monoski: But there is this nice lady on TV who keeps telling me that fracking will provide the US with all the oil and natural gas we want for 100 years at good prices and with no environmental damage.


She has to be right, 'cos she used to be a celebrity in the 70s or 80s!
 
2013-07-11 08:39:12 AM  
My wife and I don't use gasoline, we drive all electric cars, because, frankly, we're better than you people.

I also don't own a TeeVee and I use a non-ironic rotary phone.

Pretty much King Sh*T of F*ck Island over here.

/good morning.
 
2013-07-11 08:39:24 AM  

knowless: Deep Contact: The dollar dropped to the lowest in almost three weeks against the euro after Federal Reserve Chairman Ben S. Bernanke said inflation and unemployment rates show the economy still requires monetary stimulus.
 Hmmmmm.

You mean the euro and other currencies like oil?


The dollar has dropped 0.7 percent in the past week, the worst performer of 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes.
 
2013-07-11 08:40:31 AM  
How many eleventy billions in profit are they going to make this month?
 
2013-07-11 08:41:16 AM  

Raw_fishFood: So, let's say somebody manages to arrange the impossible and gets everybody to not buy gas personal use for three days or so.

How would that affect things?


It wouldn't. You just push the purchase back. you don't get rid of it entirely.
 
2013-07-11 08:41:26 AM  

I sound fat: Because it just went down 40 cents?  at least here it did.

but the real reason is that the people who are fixing the prices already have set the new prices into motion.  The kicker is that they have not enough shame in their price fixing that they actually ALERT THE MEDIA that it is going to happen.

If your industry is fixing prices to the point that they issue press releases, PERHAPS an investigation is in order.


They alert the media to insure everyone is on the same page and raises the price together.  That way they can claim supply-and-demand even though this is really price-fixing by an oligarchy (Don't you love the big word?  I had "consumer education" in high school).

In the '70s when we had the "Arab Oil Embargo" and oil skyrocketed, almost all oil was sold on long-term contracts.  Everybody rushed to get more of their oil on long-term contracts for stability's sake.  As time went by, the oil companies started to emphasize the spot price on oil (that's equivalent to the admission price you get from the guy on the sidewalk outside the arena), because if they can't sell every drop for the highest price they get throughout the year, they are "giving away" oil.  Does anyone know for sure if they dropped the idea of contracts, or if they just never mention the contracts to distract us from the illegal price fixing?
 
2013-07-11 08:44:11 AM  

Tat'dGreaser: Spanky McStupid: We are down-sizing and just traded in two cars for a new VW Passat TDI so we now get 40 mpg - yea, diesel!

(Yeah, diesel is still a gas product but the mpg is so much better.)

Wait, you only get 40 mpg on a diesel engine? That doesn't sound great. I get 38 on a standard unleaded engine and diesel is expensive.


Yeah, we're still in the break-in period.  I understand the VW improves mpg as you increase mileage.  My 2005 Acura TL was only getting 27 mpg so this is an improvement for us.
 
2013-07-11 08:48:27 AM  
Summer: More people are driving, so we need to increase prices because of demand

Winter: Less people are driving, so we need to increase prices to make up for loss.

CSB: Guy I worked with moved from GA to FL. Home insurance went up because 'he moved to a more expensive area' He moved back to the same city in GA and home insurance went up because 'he moved to a more expensive area'  . Later on he moved back to the same city he left in Fl and home insurance went up because 'he moved to a more expensive area' .
 
2013-07-11 08:54:43 AM  

Speaker2Animals: It's down about 75 cents a gallon from earlier this year. Who gives a flying f*ck if it goes up 10 or 20 cents?


That's the sprit. Oil companies love idiots like you. Hell, it was up .75? Make it *another* .30 on top of the .20! They're still saving!
 
2013-07-11 08:54:59 AM  

LeoffDaGrate: Speaker2Animals: It's down about 75 cents a gallon from earlier this year. Who gives a flying f*ck if it goes up 10 or 20 cents?

YOU are the type of consumer oil companies love.  Prices skyrocket to a $1.00 above norm, it's an outrage.  But if it's only 10 or 20 cents?  Meh, who gives a flying f*uck, it's still lower than it was, right?


You are the type of person who needs to get a bicycle and stop all the damn sniveling.
 
2013-07-11 08:56:01 AM  
There was that whole Egypt thing that seemed to drive the prices up for no real reason.... so they have something.
 
2013-07-11 08:57:44 AM  
Gas is so cheap in the USA you don't even have a damn clue how good you guys have it.

Enjoy it while it lasts cause it won't be much longer and you'll be paying over 5$ a US gallon like the rest of us.
 
2013-07-11 08:58:16 AM  

MythDragon: Summer: More people are driving, so we need to increase prices because of demand

Winter: Less people are driving, so we need to increase prices to make up for loss.


Except that's not what happens since, you know, gas prices actually fall back off after summer 'driving season'... but whatever.

If you want something that really DOES remain constant, American consumer stupidity should satisfy you though. We're back to Americans biatching about gas prices while simultaneously fueling demand for SUVs and pickups.

I'm sure all those sales are to builders and contractors though and I totally won't be seeing more idiots on their way to their office jobs barreling down the highway in immaculate F-150s with nobody in any seat but the driver's....
 
2013-07-11 08:58:49 AM  

Deep Contact: The dollar has dropped 0.7 percent in the past week, the worst performer of 10 developed-nation currencies tracked by Bloomberg Correlation-Weighted Indexes.


We're still the top currency by a large margin, that just reflects the over all slow down in growth due to idiotic policies from Washington. Hell even the top banks are starting to think this whole austerity thing was pretty stupid.

Joe Blowme: IdBeCrazyIf: So let's get that pipeline installed so we can transport Canadian crude to Texas to be refined into lighter product and then exported outside the US

.....ohhh wait

Global Markets, how do they work?


Well talk to your average Joe on the street and they have no clue, they think all that sweet sweet well thick nasty toxic Canadian crude that just recently ruined miles of wetland in Michigan is going to be our savoir. Just get that pipeline in and gas will be 1.50 again!

Which is a shame because these are the people who vote other idiots into office.
 
2013-07-11 09:00:08 AM  
NYMEX is close to Brent at last. Off the top of my head around 105.00 for the NYMEX and 108.00 for the Brent. NYMEX had been running around 15-18 dollars a barrel less for years. The global demand,hedge fund investments and market speculation are achieving parity. RBOB prices steadily rising. The trouble in Egypt and threats of supply interruption is just one more in a perpetual cycle of "OH LOOK, A BABY WOLF!" moments. Storm in the gulf - raise prices. Economy on the mend - raise prices. Bernanke announces stimulus will continue - raise prices.

I'm not fussing mind you. I would be more than a hypocrite if I biatched too much about prices at the pumps since my long-term investment strategy has yet to fail me being heavily divested in oil and energy stocks.
 
hej
2013-07-11 09:02:06 AM  
What's with the scary tag?  Are we really shatting our pants because a fill-up might go from costing $50 to $53?
 
2013-07-11 09:04:55 AM  
Isn't it just about time for the annual refinery fire?
 
2013-07-11 09:04:57 AM  

Red_Fox: Gas is so cheap in the USA you don't even have a damn clue how good you guys have it.

Enjoy it while it lasts cause it won't be much longer and you'll be paying over 5$ a US gallon like the rest of us.


The GAS is the same price.  The difference between the US and the UK is taxes.
 
2013-07-11 09:06:57 AM  

fireclown: The GAS is the same price.

The difference between the US and the UK is taxes. exchange rate because oil is traded on the dollar and taxes

There...fixed that

Let no one forget why we get cheap energy, but then again without our military protecting trade routes and ensuring the stability of global trade we'd all be farked.
 
2013-07-11 09:08:07 AM  

vernonFL: In my state (Maryland) they are raising the gasoline taxes 4 cents per year for the next 3 years.

Meh. Drive less and buy more fuel efficient cars. Ride a bike or walk, fatty.


WTF? A voice of reason in a fark gasoline price thread? You're not doin' it right.
 
2013-07-11 09:12:28 AM  
Yes, a 10 cent per gallon increase is terrible!!!!!!

If you fill up once a week on a 15 gallon tank, you're spending a WHOLE $1.50 MORE per week!  Oh the humanity!

//you'll complain about gas prices but continue to buy a $5 drink at Starbucks everyday, and waste $10 of your time waiting in line for that drink everyday.
 
2013-07-11 09:17:23 AM  

ElPresidente: We pay $7.70 per US gallon in the UK for petrol, of which the vast majority is tax, and only 15% of that tax goes on maintaining the road network - fair it isn't.

Therefore I too couldn't give a flying wank with a ferret's paw about the price of "gasoline" in the US.  Unless you can start a successful revolution or build your own refinery in your own private country, you'll just have to bend over and take it up the Hershey highway like the rest of us - except you're getting it with a hot dog and we're getting it with a cucumber.  Stop snivelling already, start walking to the store and MTFU.


Mayby that works in a country the size of mississippi but...
 
2013-07-11 09:18:53 AM  

fireclown: Red_Fox: Gas is so cheap in the USA you don't even have a damn clue how good you guys have it.

Enjoy it while it lasts cause it won't be much longer and you'll be paying over 5$ a US gallon like the rest of us.

The GAS is the same price.  The difference between the US and the UK is taxes.


Red_Fox: Gas is so cheap in the USA you don't even have a damn clue how good you guys have it.

Enjoy it while it lasts cause it won't be much longer and you'll be paying over 5$ a US gallon like the rest of us.


weak comparison is weak. true, but weak.

if historical trends continue, you european folks will STILL be paying much higher rates and STILL saying that we yanks are whining about nothing when we could be paying the much higher european prices.

when i left the midwest/southern usa in may 1998 to serve at ramstein, germany, i left behind under-$1/gal (had risen to about $0.90!) gas to find the germans were paying about double that, and our on-base and fuel coupon (for use at esso stations off-base) prices were about $1.25/gal. by the time i left there in 2002 on-base prices were well over $1.50, local economy prices were still about double, and back home the prices were about equally inflated to approx $1.25.

now, we're averaging $3.45/gal in texas, and i don't know the german prices but wherever you are it's "over $5/gal".

also, consider that the average european commute is MUCH shorter than the average suburban-dweller commute in the usa, so we, on average, use a lot more gas than europeans on a daily basis. this is our own fault, admittadly. i chose to buy a house that is over 20 miles one-way to work, but i make up for the gas costs in a lower mortgage and lower property taxes than i would have in a house within about 5 - 10 miles from work. plus, to get that much closer to work i either have a ton more stop & go traffic or a much higher crime rate.
 
2013-07-11 09:21:16 AM  

IdBeCrazyIf: fireclown: The GAS is the same price. The difference between the US and the UK is taxes. exchange rate because oil is traded on the dollar and taxes

There...fixed that

Let no one forget why we get cheap energy, but then again without our military protecting trade routes and ensuring the stability of global trade we'd all be farkedforced to manage without absurdly cheap energy, like the rest of the world does.



FTFY
 
2013-07-11 09:22:53 AM  
gas went up to 4.30 a gallon around Detroit in june.. i bet they were testing if it would cause riots before they gouged the entire country
 
2013-07-11 09:23:44 AM  

brobdiggy: Yes, a 10 cent per gallon increase is terrible!!!!!!

If you fill up once a week on a 15 gallon tank, you're spending a WHOLE $1.50 MORE per week!  Oh the humanity!

//you'll complain about gas prices but continue to buy a $5 drink at Starbucks everyday, and waste $10 of your time waiting in line for that drink everyday.



Bourgeois people like to snivel about the things they think make their incredibly privileged, spoiled, easy lives hard.
 
2013-07-11 09:24:28 AM  
 
2013-07-11 09:30:50 AM  

GiantRex: If only we had elected Michelle Bachmann, we'd have $2 gas right now... Shame on you, America.

[i2.cdn.turner.com image 475x307]


Damn, those are crazy eyes.
 
kab
2013-07-11 09:34:00 AM  
Americans spending less on everything else when gas goes up?   Because fark you, that's why.

Working exactly as intended.
 
2013-07-11 09:39:22 AM  

WippitGuud: And yet... the US is going to approve Keystone XL, which is going to ship in bitumen oil from Alberta. It's like oil mixed with mud. Even though I live in Canada, you;d be a lot better off not bringing it down, and just use more of your own oil.



You know this because you're in Canada. Here in America, a big enough portion of our citizenry lives in a propaganda-induced coma.

The Keystone XL was sold through the media and its public relations masters as a point of good old fashion American pride. It will create a bunch of jobs, like hundreds of thousands, or maybe even millions, but lots of jobs from job-creators definitely. And get this, even though the pipeline is really just a backdoor for Canada to ship its sludge out of a warm-water port, the pipeline is actually like the Hoover Dam. That's right, 'Merica.

But the best part of all, this really pissed off them liberals!
 
2013-07-11 09:39:55 AM  

Deep Contact: The dollar dropped to the lowest in almost three weeks against the euro after Federal Reserve Chairman Ben S. Bernanke said inflation and unemployment rates show the economy still requires monetary stimulus.
 Hmmmmm.


The FED said they're cutting back QE, and the dollar is strengthening, which tends to lower commodity prices.
 
2013-07-11 09:40:35 AM  

Lsherm: You didn't answer the question. I'd look it up, but I'm tired. And the reason whatever the hell we're exporting isn't good enough for us is either because of environmental regulations or because it can't be turned into fuel, or a little of both if my memory serves correct. You were the one who brought it up like we had stores of fuel we were shipping off to other countries. We aren't shipping off stuff we can use here.


He said gasoline, not oil.

We export gasoline.
 
2013-07-11 09:43:36 AM  

Dahnkster: NYMEX is close to Brent at last. Off the top of my head around 105.00 for the NYMEX and 108.00 for the Brent. NYMEX had been running around 15-18 dollars a barrel less for years. The global demand,hedge fund investments and market speculation are achieving parity. RBOB prices steadily rising. The trouble in Egypt and threats of supply interruption is just one more in a perpetual cycle of "OH LOOK, A BABY WOLF!" moments. Storm in the gulf - raise prices. Economy on the mend - raise prices. Bernanke announces stimulus will continue - raise prices.

I'm not fussing mind you. I would be more than a hypocrite if I biatched too much about prices at the pumps since my long-term investment strategy has yet to fail me being heavily divested in oil and energy stocks.


Would there be anything wrong with having a regulation that, if you want to speculate in a given commodity, you must have the infrastructure in place to take delivery of said commodity?
 
2013-07-11 09:50:15 AM  
And this gas price increase is totally expected, as oil is at a 14 month high.

2 months ago, in the Twin Cities, gas went up 40 cents over night to $4.20. Something about a refinery in the Chicago area.

It's $3.40 right now.
 
2013-07-11 09:51:41 AM  

MaudlinMutantMollusk: If only we produced enough oil domestically to not need imports, then prices would drop back to $.50 a gallon!

Then we can sell it to China and make a killing!

/FTFY
 
2013-07-11 09:56:41 AM  

UNC_Samurai


Would there be anything wrong with having a regulation that, if you want to speculate in a given commodity, you must have the infrastructure in place to take delivery of said commodity?


That has been mentioned, but for some reason it never goes anywhere. Probably because it would be bad for the speculators and would depress not hike prices and would in turn be bad for the oil companies.

The other issue might be regulation. If I have the facilities to hold N million barrels, can I still speculate on an N million barrel lot? Is anyone going to check that my facility is completely empty at the time? Can I speculate on and (N+1) million barrel lot? What about 2N?

I still think it's a good idea: requiring SOME minimal infrastructure would probably knock the majority of the speculators out of commission (heh) and maybe that's good enough.
 
2013-07-11 09:57:59 AM  
* on an (N+1)


maybe that will teach me to preview
 
2013-07-11 09:59:48 AM  

WinoRhino: Let's see... 20 cents per gallon, and it usually takes 10 gallons for me to fill up my car. So that's... $2? ONCE EVERY WEEK?! Why, this is an absolute outrage!

No, no. I get it. Gas prices increase the cost of doing business and that has an effect on a lot of other things as well. I also understand that oil companies make outrageous profits. But even still, I think most people complaining about gas prices are the ones using more of it to power their inefficient modes of transportation, like an SUV. They're also typically the people who blame "Obama" (or even Bush, for that matter) and point the finger at those who really have nothing to do with the problem, while at the same time screaming about the need for tax cuts for big business which is really the root of the problem. So when I hear someone whining about the price of gas I need to fight the urge to judge them immediately and actually listen to their arguments because the default assessment is that they have no idea why they're upset.


Except that they don't.
 
2013-07-11 10:07:20 AM  

jso2897: IdBeCrazyIf: fireclown: The GAS is the same price. The difference between the US and the UK is taxes. exchange rate because oil is traded on the dollar and taxes

There...fixed that

Let no one forget why we get cheap energy, but then again without our military protecting trade routes and ensuring the stability of global trade we'd all be farkedforced to manage without absurdly cheap energy, like the rest of the world does.


FTFY


There'd be less Golden Corralls then, and really if that would be the case then I have to ask you why do you hate Amurica
 
2013-07-11 10:32:50 AM  

fireclown: There ain't no free ride, but you have a little choice in who you pay.


Yeah. For now.
 
2013-07-11 10:33:07 AM  
i.qkme.me
 
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