OIL IMPACT DISCUSSION

[Tim Vasquez]

Interesting -- oil is only at $67. Who would have ever thought? Also gas prices are "normal" today, though I noticed the station was pretty busy.

I think I'm going to have to find a good book on futures trading, as the dynamics here are more complex than I thought. All the writing is on the wall for a price hike, but it's still cheap after the disaster. It's really puzzling!

Tim

 

[Bill Hamilton]

I was expecting it to jump up as well. It is hard to believe that prices are still the same.
I figured the major oil companies would have jumped at a chance like this to raise the price.

 

[Jeff Snyder]

I also find it very interesting (and welcoming!). I was expecting at least a $0.10 rise in gas prices, but most around where I live (Norman) haven't gone up at all today.

 

[Andrew Geil]

2.49 here last night.

3.01 this afternoon.

 

[Jeff Snyder]

It's still about $2.50 ($2.47 at the closest station) here in OUN...

 

[David Drummond]

In the last two hours, the gas prices across the City of Lubbock, TX have risen on average 20-25 cents, averaging $2.74 to $2.79 up from around $2.54/gal.

As most of you regulars here know, I live about 35 miles sw of Lubbock in a small town, all station in town have also gone up. They were $2.54-$2.55 and in the last two hours have gone up to $2.77 to $2.99/gal. The sole exception is the two Allsups Convenience Stores here that have remained at $2.55 so far. Both of them have lines of cars two blocks long getting gas.

The station I chase for Newschannel 11 is reporting the expect prices in Lubbock to be at $3.00/gal + by tomorrow here according to local market analysts. :shock:

 

[B Doss]

Also in Lubbock. Lines at gas stations are enormous. Also hearing local reports of $3/gallon by tomorrow, up from $2.54.

 

[Chris Nuttall]

Just filled up at $2.54/gal here in Glenpool, OK. Rumors are the stations in town are going to run out of gas. The lines here resembled 9/11.

EDIT: Supposedly prices are going to remain steady here until 9pm. That's when they are expected to jump.

 

[Dan Robinson]

Filled up at $2.54/gallon today in Charleston, WV. Now I have to decide whether or not to use that tank of gas on a big chase tomorrow.

I still have five gallons of spare gas from Ivan last year. I got it in northeastern Georgia for around $1.29/gallon or something like that. I've always heard that gas doesn't keep well though, so it's probably lawn mower fuel by now. I guess I could re-refine it and sell it in a few months to pay off my mortgage . . .

 

[Jeff Snyder]

As soon as I posted my last post, I went out to get pizza and noticed that the closest 7/11 is up around $2.65, though the remainder of the local stations are still $2.47. Lines were 2-3 cars deep but inconsistent.

 

[Andrew Geil]

Silly people, helping drive up the demand. I wonder how well prices would be mitigated if people weren't panicing so much. People are still lined up here; probably because the local news did a story and the newscaster had to say, "Its quite possible that the gas stations will run out of gas."

Fear is worse then reality (even if reality may suck here soon).

If anything good comes of this whole mess, perhaps it will be a good smack across the face of the fat, greedy, self-centered SUV driving American that things need to change. The airline economy is about to crash to the ground by the sounds of things. The very basic "necessities" of life look like they're going to be on the rise. I'm a firm believer in the book "Long Emergency" and some of the consquences that the author there has laid out. Let us hope that if any reprieve comes from this situation, the US is smart enough to start working its way out of it.

Imagine what would happen now if the Middle East and Venezuala said "Screw you USA" and stopped shipping oil.

This country would grind to a halt.

 

[Benjamin Sipprell]

No changes here in price ... has been as cheap at $2.52 and I've seen high as $2.69 as usual for regular unleaded ...

Surprising since CT has one of the highest gas taxes and also is the richest state in the nation ... weird ... maybe it'll hit tomorrow

 

[Jeff Snyder]

If anything good comes of this whole mess, perhaps it will be a good smack across the face of the fat, greedy, self-centered SUV driving American that things need to change.

I don't even own an SUV and I'm offended by your statement. How is driving an SUV to work 4 miles a day worse than someone driving a car to work 60 miles per day? The car owner uses far more gas in than the SUV owner...

I do agree that people may be driving up the demand unnecessarily tonight. I haven't seen much on the news about it, but I haven't really paid attn to the local news, so...

 

[Andrew Geil]

If you are offended by my statement, then thats too bad. I don't mean to offend, I merely make statements based on my observations and personal experience.

Ninety percent of the people I know who own SUVs have no real "valid" use for them. When I say valid, I mean severe driving, serious offroading, rescue/police type work, mega-large family, etc. I have yet to find a reason why someone in central Illinois needs a Hummer to commute to work and back. I drive a small passenger car, and I do pretty well for the four times a year it snows bad.

I am offended by the people who do commute 60 miles to work as well. The very way we live as a society needs to change. Otherwise, this will only continue to get worse.

 

[Anonymous]

Well I own an SUV and I drive 45-60 miles one way to work.
I must be the devil!!! AAGGHHHH!!!!!

Life Happens. Deal with it and quit judging people.