posted 07-07-2005 08:20 AM         

Randy, back before Memorial Day, oil companies said gas prices would remain "stable" during the summer vacation period. The Arabs told the president that barrel prices wouldn't climb,,,back a few months ago. What is causing this spike again? Is China to blame?

posted 07-07-2005 10:05 AM         

Not to be a smarta**, but if I had the TRUE answer I'd have a warehouse full fo Prowlers on my own tropical island!

Most of us in the oil business laugh at the so-called experts because they are so often wrong. The ex in expert should be interpreted as ex-oil co. exes (because that where most of them come from) and if they really knew something they wouldn't be ex-exes.

I thought there would be stable summer prices after the RVP changes of June 1. All indicators are for stable prices except for the HUGE leverage being swung by China. The FTC has ruled once against China buying a US based oil co. China is negotiating hard with the national oil co. of Venezuela to buy Citgo, which Petro de Venezuela wholly owns. If China sucks Citgo's product out of the US market, look for prices to really jump. China's addiction to oil is as bad as the US's and growing larger.

Also there is currently panic over the hurricanes coming into the Gulf. Rigs have been closed, thus disrupting an already fragile distribution system.

A friend of mine who is a trader offers a unique thought. He says the Saudis are going crazy over this high price of crude. He said they really want the price in the $40 a brl. range. Their thought is at approx. $40 the US addiction to oil is stable, but above that we look at alternate sourses of energy, hybrid cars, etc. and start up our technical creativity which in the long term may kill their golden goose.

H**, like I said, if I knew the answer I wouldn't be sitting here!

posted 07-08-2005 01:16 PM         

Regular is $2.25, Mid is $2.35 and Premium is $2.45

posted 07-08-2005 01:18 PM         

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Originally posted by ETMIDZT:
Reg. Gas Jumped to $1.50 here today!! Grrrr.......

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posted 07-08-2005 02:06 PM         

Citgo and Marathon have placed southeast and mid-atlantic distributors on allocation. Allocations due to supply disruptions caused by hurricanes.

posted 07-08-2005 03:36 PM         

When we (the retailer) hear the price want up 20 cents, we have to make adjustments's now.Reason being when they show up at the end of the week and drop a load, we must pay them on the spot. (cash) When they drop 20,000 gallon at .20 cent change could mean a $4000.00 shortage each day.At the end of the month, that would be about $120,000.00.Which I can't afford at this point. Now when the price goes down we will lower the price by a little, but not much because we know it will go back up.And for all the people that didn't get in the gas business TO BAD that's why we are rich. At 20cents a gallon profit, well you do the math.It's good to be in the gas business.

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posted 07-08-2005 09:51 PM         

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Originally posted by ed monahan:
Crude oil went up to $ 61 a barrel and they raised the prices here, 25 cents a gallon. I had no idea they could ship it, refine it and get it to the pumps in a couple of hours.
Every place has the same price today. And this is not price fixing or collusion.
I will bet if the price drops $ 10 a barrel the pump price won't budge.

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posted 07-09-2005 02:20 AM         

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posted 07-09-2005 11:46 AM         

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Originally posted by Fat Pat:
Bought 3.4 ounces of Drakkar the other day for 40 bucks!! Prolly wouldn't work in the Prowler, but sure makes me smell good!!

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posted 07-11-2005 01:30 AM         

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Originally posted by ed monahan:
Is sugar still real scarce?

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