Hurricane Ike and gas prices / oil infrastructure

[Jim Saueressig]

$3.44 here, just filled the vehicles after hearing of $5 being quite common already, $7 in GA in places and $9 in Michigan... They are saying we have at least a .25 raise first thing in the morning at a local station but I expect much more....

 

[J West]

Looks like the station owners in Michigan ran wild this last evening with prices...

http://www.wwmt.com/articles/michigan_1353344___article.html/west_prices.html

I hope the state AG throws the book at those who did this, as it was a rash quick profit scheme that some of the owners took place in because "the tanks were running out". Funny, that gas didn't cost them $5.89 when they bought it...

 

[Sarah Austin]

Everybody went crazy here in Florida yesterday. Lines were so long. People were cutting other people off to get there first. Most stations were limiting every vehicle to only 10 gallons so everyone could get some. Some of the pumps at some stations have run dry.

As for prices...normally, in Gainesville, we typically have an average price of about $3.75 per gallon. Today, it was about $3.99 per gallon. In Tallahassee, my brother found one station that was $5.35 per gallon. I think that station is just taking advantage of the situation. We'll see what happens tomorrow.

I filled my tank up just in case. It only holds 11 gallons. Wasn't a problem and I went to a gas station in an area less dense.

 

[Rob Satkus]

I hope that this is all investigated...because it sounds like a load of crapola. Some of those price increases are disgusting. I expected things to go up some (what I saw in Norman yesterday wasn't too bad, mostly in the .10 to .20 range...and quite a range it was. Anywhere from $3.25 - $3.63) But $5 - $7? It sounds a lot like the pre/post Katrina panic and gougefest. Someone brought up the Dec '07 ice storm in OK and how several gas station owners were charged...I believe a couple of them were convicted and raked over the coals...hopefully that happens in this case as well.

RS

 

[David Schuttler]

It's not punishable by law unless the station overcharging is in an area declared a "State of Emergancy" is it.
They can sell pop at what ever price also can't they?

 

[Tim Vasquez]

Please post reports, positive and negative, of anything you see at your area gas stations today and whether things look normal or not. If it's a media report, make mention of that since they are, of course, singling out noteworthy stories.

I drove by one gas station here in far east Norman (Country Boy) and it was open as usual. Busy but no lines, $3.65, and some people were filling gas cans.

Tim

 

[Dennis Duck]

Gas price jump

In the Coppell-Lewisville area (NW Dallas CO) 7-11s, gas went up $.35 for Reg Unl to $3.69 from Thursday evening to this morning (Saturday). No lines/normal business, don't appear to be out of any grade.

 

[Jay Cazel]

I just went to the Quik Trip that I got gas in my wifes car last night...Gas was $3.49.....Now it is $3.59 not real busy. Thursday it was $3.39.

 

[Paul Hadfield]

Macon County in Central IL, a few stations I saw are hovering around $3.99. Prior to midnight as well as after 8AM going to and from work, didn't notice any change. Then again the day has just begun.

Local
http://www.herald-review.com/news/gas/

National
http://www.gasbuddy.com/

 

[Chris Strahan]

4 bucks a gallon on average here in NC. I have actually seen 5.25 for premium a gallon in two towns. Angier, and Irwin, NC.
This coming after the govenor here passed a no gas gauging bill yesterday

 

[Eric D B'Hymer]

Here in Iola Ks (SE KS) gas has been higher than most places in the state since last years flood. Gas had finally gone down to 3.49 after most of the rest of the state was in the 3.30 range for a while and then 1 station went up to 3.79 and stayed there. I filled up at the 3.49 at 5pm yesterday 3 blocks down the street from the 3.79 station. Today that station is 3.69 and i expect it to go much higher in the coming days. Last year after the flood gas went up like .40 a gallon and then the governors cabinet was down in Chanute for a meeting and the next morning gas went down .30 a gallon. Funny huh?????

 

[Dennis Sherrod]

State Attorney's Office in Alabama stated that raising the prices more than 25% over the the last 30 days average is considered Price Gouging. So, if a gallon of gas average sale price was $3.599, they could not charge more than $4.499.
Of course the route the stations may use to get around this and keep raising prices daily is to update the average daily price each day, taking and using the new higher price into the 30 day average. Conceivably with this, gas prices could easily continue to rise each day until everyone chills out.
On my travels around last night I took several pictures of gas stations and their pumps with prices well above $4.80 and up for regular grade.
I would suggest passing these type documentations on to your state's State Attorney's Office. The ones who had the biggest price gouging seemed to be the ones who took the prices down from the outdoor signs and the ones who taped over the regular and midgrade pumps and had the Premium prices really jacked up. Made for a lot of ticked off gas station folks though. A few yelled at me for taking pictures. I said lower your prices and you don't have to worry about it. Two turned their pumps off when I was taking pictures. These obviously know they are doing wrong and are trying to hide it.

 

[Bret Hendrickson]

Making way home from Alliance airport (north Fort Worth) this morning and noticed a $0.30 discrepancy just a 1/2 mile from each other down I-35. $3.59 at Mobil compared to $3.89 at QT.

Didn't see any other stations reporting higher than $3.59 on way home.

 

[K Johnson]

I'm not sure if this will help or hinder or have no effect on this discussion, But ... I buy gas and electricity direct from the energy markets for my work. As both of these follow oil prices, by default I keep an eye on that too. I have no idea what is going on in American gas stations. But what I do know, is that every time there is a tropical storm, or a hurricane near the refineries and oil platforms and they have to be evacuated, the affect on the energy market is immediate. A hurricane or tropical storm existing can put up prices by 10%, and that is without any damage to energy production being cause! If Ike does take out some refineries / production, even if it is only for a couple of weeks, I would expect prices to go up by 30%. The traders / banks / hedge funds are as much to blame for these price rises as the oil companies. The cost of natural gas in England went up 5% last week, dispite the drop in oil prices, purely because of Ike, and it hadnt even hit yet!

 

[Andrew Kajfasz]

NW Ohio has seen an increase in gas prices. We were around $3.50-$3.60 earlier in the week, and are now up to $3.99 average with normal, low key lines and business as usual at the pumps. Thankfully nowhere near the pathetic price gouging averages that gas station owners in other states are apparently pulling from reading this thread.