Not Logged In Log In   Sign Up   Points Leaders
Follow Us    5:21 AM

GasBuddy News Article

47
votes
Gas prices hit a historic high: What's driving them up?

csmonitor -- New York
A combination of high crude prices, refinery shutdowns, and early speculation has sent gas prices soaring to seasonal highs earlier than usual this year, with no signs of prices at the pump falling until spring, according to recent estimates.

Gas prices have climbed every day for the past 25 days, reaching a national average of $3.59 per gallon Monday, the most expensive national average ever for Feb. 11, according to AAA.

During just the past two weeks, average prices have climbed almost 25 cents, the biggest jump in gas prices in almost a year.

“This is a very early rise,” says Tom Kloza, chief oil analyst at the Oil Price Information Service. “January has tended to be a quiet month through the years, but the rally really began in earnest around Jan. 15.”


Read the Full Article

Submitted Feb 12, 2013 By: aservant
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Gas prices hit a historic high: What's driving them up? Back to Topics
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

Posts:24,300
Points:2,435,365
Joined:Nov 2008
Message Posted: Feb 16, 2013 5:42:07 AM

historic? not quite yet, but soon...
honda0105
Champion Author Tallahassee

Posts:24,300
Points:2,435,365
Joined:Nov 2008
Message Posted: Feb 15, 2013 5:58:19 AM

Greed, nothing but greed. And the price is driven purposefully up by refineries in the East shutting down for "maintanence...."
virostek
Veteran Author Virginia

Posts:423
Points:90,285
Joined:Oct 2012
Message Posted: Feb 13, 2013 7:28:24 AM

Ugh.
gs7101
Champion Author San Antonio

Posts:8,522
Points:578,190
Joined:Jun 2009
Message Posted: Feb 13, 2013 7:25:21 AM

Business as usual!
millerin
Champion Author Orlando

Posts:5,163
Points:1,246,650
Joined:Jan 2012
Message Posted: Feb 13, 2013 1:17:17 AM

will see soon...
crep1291
Champion Author Ottawa

Posts:3,159
Points:565,175
Joined:Dec 2010
Message Posted: Feb 12, 2013 11:23:47 PM

Prices may not rise above last year's, but that's only if we don't have any hurricane that shuts down any refinery for more than a few days.
Ply440GTX
Champion Author Kansas

Posts:1,835
Points:455,850
Joined:Feb 2009
Message Posted: Feb 12, 2013 10:18:26 PM

Nice... A piss weak dollar.
alterman156
Champion Author New York

Posts:10,895
Points:2,365,825
Joined:Dec 2008
Message Posted: Feb 12, 2013 9:23:31 PM

Believe it or not, I saw one station lower its price for unleaded regular today.
BBopp
Champion Author Dayton

Posts:9,811
Points:2,657,620
Joined:Dec 2006
Message Posted: Feb 12, 2013 8:28:17 PM

The speculators rank #1!
bwatchingu
Champion Author Arkansas

Posts:5,075
Points:1,410,200
Joined:Jan 2009
Message Posted: Feb 12, 2013 6:32:48 PM

The answer is in part-excuses,lies,and greed.
sydb7
Champion Author Atlanta

Posts:6,030
Points:2,648,050
Joined:Mar 2003
Message Posted: Feb 12, 2013 4:50:52 PM

GREED!
schatzila
Champion Author Los Angeles

Posts:5,986
Points:1,226,545
Joined:Jun 2010
Message Posted: Feb 12, 2013 12:26:50 PM

Really? Someone knows the answer?
truvoice1
Champion Author San Diego

Posts:1,931
Points:841,690
Joined:Feb 2011
Message Posted: Feb 12, 2013 12:22:08 PM

Blah blah. Now $4.00+ for regular here. It stinks!
WestDriver
Champion Author Grand Rapids

Posts:2,576
Points:1,227,805
Joined:Oct 2006
Message Posted: Feb 12, 2013 12:12:47 PM

And the dollar is worth less. For oil, food and other things.
sciotosix
Champion Author Dayton

Posts:6,111
Points:1,496,175
Joined:Apr 2011
Message Posted: Feb 12, 2013 12:00:36 PM

Greed.
WalkingWV
Champion Author West Virginia

Posts:3,883
Points:809,450
Joined:May 2008
Message Posted: Feb 12, 2013 11:56:03 AM

Gas here is up 20¢ overnight, now $3.79!
TripleHs
Champion Author Austin

Posts:3,868
Points:1,051,020
Joined:Oct 2009
Message Posted: Feb 12, 2013 11:21:35 AM

blame speculations and manipulations
2granny
Champion Author Michigan

Posts:12,990
Points:2,275,100
Joined:Apr 2009
Message Posted: Feb 12, 2013 11:10:15 AM

GREED is the best explanation. We also need more refinery's.
doctorindyj
Champion Author Santa Fe

Posts:5,289
Points:1,577,650
Joined:Nov 2009
Message Posted: Feb 12, 2013 11:05:23 AM

Let's spin the wheel of blame for today's excuse. Will it be OPEC Quotas? How about devaluation of the dollar? Maybe China's growing pains or the European debt crisis? And the answer for today is: Refinery winter maintenance! Thank you for playing.
Jeff4U
Champion Author Atlanta

Posts:12,429
Points:2,663,445
Joined:Nov 2004
Message Posted: Feb 12, 2013 10:51:30 AM

And as usual, Obama says and does NOTHING about high gas prices.

If he would merely say he's going to allow more drilling on federal land, the prices would fall instantaneously just from global psychological reaction.
bluebird1
Champion Author Toronto

Posts:19,103
Points:3,891,445
Joined:May 2004
Message Posted: Feb 12, 2013 10:42:03 AM

There is an explanation ....the last one listed speculation (early & greedy). But still would gladly take $3.59/gal given our 1.30 /L or $5.90 + /gal Cdn.
tes283
All-Star Author Tampa

Posts:865
Points:368,850
Joined:Dec 2011
Message Posted: Feb 12, 2013 10:41:50 AM

Keep rasing until the public starts to walk.
ILANGE9
Champion Author Illinois

Posts:10,890
Points:2,406,975
Joined:Sep 2008
Message Posted: Feb 12, 2013 10:33:34 AM

There is no good explanation.
91_Metro_Man
Champion Author Ventura

Posts:1,993
Points:2,278,630
Joined:Dec 2007
Message Posted: Feb 12, 2013 10:32:05 AM

Don20 has the right idea but it is the almighty dollar that drives the prices.
CapriceWagon
Champion Author Washington

Posts:1,505
Points:1,154,915
Joined:Feb 2008
Message Posted: Feb 12, 2013 10:30:43 AM

What sign is there that they'll fall in the spring? Usually they skyrocket in or around April/May
Don20
Champion Author Oklahoma City

Posts:13,017
Points:3,413,860
Joined:Mar 2005
Message Posted: Feb 12, 2013 10:28:26 AM

A combination of high crude prices, refinery shutdowns, and early speculation has sent gas prices soaring to seasonal highs earlier than usual this year, with no signs of prices at the pump falling until spring, according to recent estimates.

So what is new its all a planed, politics at it best..????
rjhenn
Champion Author Des Moines

Posts:29,771
Points:2,963,980
Joined:Aug 2005
Message Posted: Feb 12, 2013 10:26:42 AM

NemoIL - "Did you notice that your paycheck just got smaller with this latest tax increase?"

You mean the end of the latest tax holiday.
LuckyD43
Champion Author Long Island

Posts:45,800
Points:2,956,155
Joined:Apr 2005
Message Posted: Feb 12, 2013 10:23:23 AM

Come on, we all know what's driving them up. It's nothing more than GREED, pure and simple.
2DTom
Veteran Author Indiana

Posts:250
Points:318,035
Joined:Sep 2007
Message Posted: Feb 12, 2013 10:23:12 AM

That just means the worst it yet to come!
orphancarguyPE
Champion Author PEI

Posts:7,069
Points:1,510,585
Joined:Jan 2011
Message Posted: Feb 12, 2013 10:22:07 AM

Americans just don't seem to get it. There is a whole world out there and demand is growing even in 'poor' countries faster than supply is growing, so the price of crude oil and refined products is rising. so what if the local price versus the local wages means that the 'cost' is like $20.00 a gallon would be for us. If an entrepreneur can gas up a rickety old Toyota pickup and take 27 paying customers hanging on all over it to a paying job that they couldn't walk to in 3 or 4 hours each way, then it becomes irrelevant what the price is. For Americans, its an inconvenience; for 3rd world countries, changing from walking or a mule to a scooter with 5 on it or a pickup with 27 passengers is a game changer--and they will outbid American for imported oil to get that change in their lives.

Another thing most Americans just are not getting: the US oil 'boom' in tight oil is neither as big nor as fast as most people think it is by listening to all the excited gushing reports coming from ill-informed media. It is only heading for 10% of the US domestic oil supply, and overhead like the Sword of Damoclese is the decline of US conventional oil, which is still about 90% of the total. ie, <1 million versus <10 million barrels a day. When you add in that about 40% of all oil used in the US is still imported that means the cost to Americans is rising as the international price rises.

Its down from 61% (to about 40%), but that is a mix of having the biggest crash (starting in 2007-2008 in the Bush era) since the Great Depression, mixed in with higher efficiency in both vehicle and equipment, and some shift away from oil...so the reduction in imports is NOT due just to the oil boom but many other factors as well. The boom is just not all that big in itself.

If all goes perfectly with the tight oil boom--areas don't run out of cheap, easily wasted water, infrastructure keeps up rather than causing huge bottlenecks, conventional oil somehow doesn't drop off in the meantime, then by sometime by 2030 the US 'might' no longer be importing oil. Of course by then, cars will be beyond the 54.5 mpg benchmark, and most houses and businesses will be using solar for both electricity and heating/cooling as a matter of course.
leraar2
Champion Author Massachusetts

Posts:7,090
Points:1,588,860
Joined:Mar 2011
Message Posted: Feb 12, 2013 10:19:13 AM

GREED and poor scheduling of maintainance at too few refineries.
dougtaylor1
Champion Author Phoenix

Posts:1,795
Points:477,455
Joined:Jun 2011
Message Posted: Feb 12, 2013 10:16:55 AM

Agreed. Mostly devaluation of the dollar, or inflation if that word suits you.
coughlin
Champion Author San Jose

Posts:7,067
Points:1,578,390
Joined:Sep 2009
Message Posted: Feb 12, 2013 10:16:33 AM

Speculation is the backbone of Capitalism.
dlzastera
Champion Author Minnesota

Posts:7,733
Points:1,808,995
Joined:Mar 2006
Message Posted: Feb 12, 2013 10:16:06 AM

Summer prices look to be high.
sagnat
Champion Author Riverside

Posts:1,920
Points:1,023,205
Joined:Jun 2012
Message Posted: Feb 12, 2013 10:16:05 AM

I wish gas was only $3.59/gallon.

Price of crude has been below $100/bbl for a while now and the price of gas keeps rising
NemoIL
Champion Author Illinois

Posts:5,894
Points:2,046,745
Joined:Aug 2008
Message Posted: Feb 12, 2013 10:15:48 AM

You should realize that the price of oil is not really going up all that much. The problem is that our dollar has been de-valued by the huge debt, bailouts, and massive printing of money by the obama administration. The dollar as lost about 30% of its value since 2008. Your dollar simply buys less than it use to. What is Mr. Obama's answer to this? He taxes you more. How do you like the increase in your payroll tax? Did you notice that your paycheck just got smaller with this latest tax increase?
dougtaylor1
Champion Author Phoenix

Posts:1,795
Points:477,455
Joined:Jun 2011
Message Posted: Feb 12, 2013 10:15:23 AM

obumer. he says all the time he can't wait for them to be $8 a gallon.

[Edited by: dougtaylor1 at 2/12/2013 10:16:04 AM EST]
WTLITNG
Champion Author Virginia

Posts:4,993
Points:1,832,765
Joined:Dec 2008
Message Posted: Feb 12, 2013 10:15:19 AM

Greed for profits by big oil companies.
MrLuigi
Champion Author Massachusetts

Posts:8,117
Points:1,769,840
Joined:Jun 2005
Message Posted: Feb 12, 2013 10:14:17 AM

pure greed is driving up prices and killing the average consumer!
DarthDadJr
Champion Author Virginia

Posts:9,549
Points:2,231,360
Joined:Jul 2008
Message Posted: Feb 12, 2013 10:13:21 AM

I'm crossing my fingers and hoping that this doesn't lead to high prices during the Summer.
4BigBob
Champion Author Madison

Posts:3,940
Points:2,890,720
Joined:Sep 2005
Message Posted: Feb 12, 2013 10:11:53 AM

Yeah, from the idiots who are red light runners rear ending the rest of us obeying the law.....
ARCO
Champion Author Pittsburgh

Posts:5,608
Points:3,154,735
Joined:Sep 2005
Message Posted: Feb 12, 2013 10:11:43 AM

AND SPECULATION
erndog0331
Champion Author Tucson

Posts:1,031
Points:590,940
Joined:Oct 2012
Message Posted: Feb 12, 2013 10:10:50 AM

GREED
fallbaby
All-Star Author Indiana

Posts:767
Points:463,315
Joined:Mar 2012
Message Posted: Feb 12, 2013 10:10:40 AM

Yes, it's pure greed!
pastorpaulcg
Champion Author Virginia

Posts:3,615
Points:779,635
Joined:Dec 2010
Message Posted: Feb 12, 2013 10:10:10 AM

No mystery, really. Plenty of inventory, decreasing ability to refine, equals upward pressure on price
Wolfwings
Champion Author Delaware

Posts:11,906
Points:2,575,510
Joined:May 2004
Message Posted: Feb 12, 2013 10:09:58 AM

G R E E D !!!
falcons
Champion Author North Dakota

Posts:14,115
Points:3,168,145
Joined:Dec 2004
Message Posted: Feb 12, 2013 10:09:31 AM

GREED
Infamoussteve
Veteran Author Illinois

Posts:499
Points:44,825
Joined:Jan 2013
Message Posted: Feb 12, 2013 10:09:08 AM

fuck these "speculators" I haven't had a demand for oil in years. To and from work is all I do in my car in the summer. Everywhere else is walking
w4kh
Champion Author Tennessee

Posts:15,038
Points:3,055,040
Joined:May 2004
Message Posted: Feb 12, 2013 10:08:36 AM

This is really strange: for no apparent reason several stations jumped pump prices 20 cents overnight! Time to pump up the bicycle tires and shake off some winter fat...
dlemma
Champion Author Wyoming

Posts:7,276
Points:2,353,195
Joined:Feb 2008
Message Posted: Feb 12, 2013 10:08:20 AM

It's a commodity, and Obama and Bernanke are to blame.
LuthierKS
Champion Author Wichita

Posts:7,543
Points:1,525,630
Joined:Apr 2011
Message Posted: Feb 12, 2013 10:08:05 AM

Lots of factors go into the price of fuel. This is only a small sample.
Post a reply Back to Topics