What are your Gas prices UP to?

[Carol Dee]

Well we knew the low prices would not last. They made it down to 1.55 before heading up. A few weeks ago the started creeping up, then shot up this week. Today they are 2.05. Then IA passes a 10 cent gas tax to go into effect March 1st. Grrr

 

[Rhodie Ranch]

We are at $2.67 at ARCO cash price. Our state lowered our taxes, starting this coming July form 36 cents to 30 cents but we won't see a difference at the pumps cus it will be summer.

 

[Nyboy]

$2.76 cash for regular. Did yours really go down to $1.55, I don't think we ever went below $2.50

 

[valley ranch]

They lower the price to hurt Russia and stop our Pipe Line. Now that the Pipe Line has been vetoed they can stick it to us again.

Richard

Religion of peace? ~ Wolves are vegetarians?

 

[Lavender2]

We were at 1.57, now up to 2.25.

Governor is seeking a 6.5% wholesale tax (.16 at current price) , on top of the 28.5 cents per gal. current state tax. ... blaming more efficient cars and less drivers for the lack of highway funds... boy, ya just can't win.

 

[majorcatfish]

diesel has been steady at 2.70
gas is up to 2.24
north carolina has one of the highest gas taxes 37.5 per

 

[seedcorn]

$2.32 in Indiana

 

[Ridgerunner]

My low was $1.51. I just paid $2.09 for regular.

That refinery fire or explosion, can't remember which, in California didn't help out there but some refineries are taking advantage of the low prices to do maintenance to their refineries. Since prices are fairly low they don't lose as much revenue when they take them out of service to do maintenance, which means prices will be higher when they get them opened back up. Sounds like smart business to me. You have to do that maintenance so do it while you don't lose so much money.

I'm sure there are other factors, there always are, but will the prices go back down when those refineries come back on line? I'm sure i's not just refineries. A lot of production facilities ae doing he same thing.

I worked in the industry for over three decades. Something else that is going on is that new projects are not being approved. A development that made a lot of money at $100 per barrel of oil may lose money at $50 per barrel. I don't think we've seen the full effect of that yet.

I'm glad I'm retired and not in that industry right now. The pressure on the employees to produce every barrel they can is pretty intense if it is like all the other price drops I've seen. The pressure on those doing the maintenance that has a refinery or production facility shut in will be huge. A lot of people, especially in the service companies, are losing jobs and a lot more are worried about losing their jobs. Morale in the oil patch is pretty low right now.

 

[valley ranch]

Lavender,
The crook in California has the same plan. The problem isn't that Americans aren't taxed enough , it's that government spends too much. Regan


19 gallons of gasoline and 42 gallons of diesel in every barrel of crude not counting the other products from each barrel.

 

[valley ranch]

http://www.cnbc.com/id/102381893#.

This might be worth reading.