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Thread: Our gas prices went DOWN 25 cents in one afternoon..

  1. #1
    Daytona19
    What the hell is going on first they are screwing use by gouging us with the price of fuel and not they drop it 25 cents. The stating around here from what I understand caught wind of a movement of lawsuits about gouging and then dropped their prices soon after. If thats not a confession I dont know what is, this needs to get under control.
    Location Saginaw Michigan, Mid Michigan

  2. #2
    FHI-prez
    I'm no expert in this. BUT some of this is obviously inflated prices from the store owners (illegal). Some of it is speculation of oil futures based on what they "think" happened to the different underground pipelines and future refining capabilities. When the actual assessments start coming in it affects the trading. The Colonial pipeline for example (I think it's the Colonial pipeline): preliminary assessments were around 37% capacity (around that) and this drove futures way up. Well I think they have since found that it can actually operate at 67% (around that) which drives the futures down. The oil market fluctuates just like any other stock. If China was nuked off the map (what a shame ) prices of everything would skyrocket, even tho the effect of the situation wouldn't be felt till later, probably not much later, but still after the price increase. I'm sure there is someone here that can explain it much better than I can.

  3. #3
    boater72
    I'm no expert in this. BUT some of this is obviously inflated prices from the store owners (illegal). Some of it is speculation of oil futures based on what they "think" happened to the different underground pipelines and future refining capabilities. When the actual assessments start coming in it affects the trading. The Colonial pipeline for example (I think it's the Colonial pipeline): preliminary assessments were around 37% capacity (around that) and this drove futures way up. Well I think they have since found that it can actually operate at 67% (around that) which drives the futures down. The oil market fluctuates just like any other stock. If China was nuked off the map (what a shame ) prices of everything would skyrocket, even tho the effect of the situation wouldn't be felt till later, probably not much later, but still after the price increase. I'm sure there is someone here that can explain it much better than I can.
    That's what I don't understand as a barrel of oil is down $3.00 from Monday and futures on gas took a hit down Thursday and big hit Friday. They know that it really isn't as bad as they thought but are going to use anything they can to make more money. Like I have said, the oil companies are making record profits never seen before. What will happen are they alone will bring the economy to a stand still. You hear all these people on this board say I will just pay it as I have a business or a great high paying job and it's doing good and then one guy on the boards here say's the good strong companies will be okay. He just does not understand that you have to have people to buy their products. Well when people start to not drive as much you don't have to do as much service to your car's so fewer trips to the parts store etc. as you can see where I am going with this as it all trickles down just in different sectors. And we should not forget that it's not just the oil companies, we have been all caught up with them that we forget that health care is out of control. But the same people here say well my company has a great health care plan for my family, well-let me tell you that most people don't and that is going to slow us down both ways supporting people without it or paying it for our selves which takes a lot of money out of the economy. And I always hear these people say well the cost of living pay raises we do get off set the higher amounts we pay for goods and services. I have to say BS on this as there is no way we are keeping up with the prices of fuel and health car let alone other things. And then we have a very big bill we are paying in another country every day for the last few years but I will not go into that as yes we do need to be there just not for the reason we were told we had to go for. I am sorry that I am posting something like this in a boating forum but I did not start it and just needed to vent.
    Flame on!

  4. #4
    FHI-prez
    Well some of the price hike was also spurred on by panic buying of gas in not affected areas, but you are right, the oil companies are making a killing right now, what else is new. :boxingguy

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