Gas prices where you are located?

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chickpea

Train Attendant
Joined
Jan 5, 2022
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69
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East Coast
Well that was short-lived. I paid under $6 in CA and now there is no station around for less than $6/gallon and though I haven't seen $7 yet, I have to say that was QUITE the jump in the past week+. Greedy oil companies just going nuts. Lucky you if you are a shareholder, I suppose.
 
Joined
Sep 2, 2021
Messages
730
Location
Lubec, ME
Well that was short-lived. I paid under $6 in CA and now there is no station around for less than $6/gallon and though I haven't seen $7 yet, I have to say that was QUITE the jump in the past week+. Greedy oil companies just going nuts. Lucky you if you are a shareholder, I suppose.
If it was strictly just greed that would be a spectacularly poor way to run a business. Sooner or later someone would lower their prices and corner the market. Moving beyond the usual talking points, we have a tight global supply market due to world supplies being reduced by the loss of Russian oil, the increase in demand due to the winding down of the COVID shutdowns, and the general uncertainty. Add to that the administration's desire to reduce domestic oil supplies to jump start use of renewable energy and you have a formula for what we see now price wise.
 

Bob Dylan

50+ Year Amtrak Rider
Joined
May 31, 2009
Messages
24,375
Location
Austin Texas
If it was strictly just greed that would be a spectacularly poor way to run a business. Sooner or later someone would lower their prices and corner the market. Moving beyond the usual talking points, we have a tight global supply market due to world supplies being reduced by the loss of Russian oil, the increase in demand due to the winding down of the COVID shutdowns, and the general uncertainty. Add to that the administration's desire to reduce domestic oil supplies to jump start use of renewable energy and you have a formula for what we see now price wise.
The part about reduced domestic oil supplies is not valid, the US has a huge supply of Reseve Oil and Gas, and the statement about "Uncertainty" is another word for Greed on the part of the Speculators!

The Gasoline that is being Sold now has been refined and stored in tanks for several Months, so it's not costing Oil Companies anything extra, they just raise the price to Retailers and Wholesalers to enhance Profits, aka Greed!

You could look it up, don't take Politicial Talking Points and Mediia Pundits words @ Face Value.
 
Last edited:
Joined
Apr 5, 2011
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4,715
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Baltimore. MD
The part about reduced domestic oil supplies is not valid, the US has a huge supply of Reseve Oil and Gas, and the statement about uncertainty is another word for Greed on the part of the Speculators!

You could look it up, don't take Politicial Talking Points and Mediia Pundits words @ Face Value.
It's pretty typical in these cases of price spikes (not just gasoline) the price spikes very quickly, even more quickly than the trigger can increase the cost to the sellers. This suggests greed, as the stuff being sold during and immediately after the spike, is from current inventory, which was obtained at the lower costs that prevailed before the triggering event. Then, moving forward, when the situation changes and the costs get lower, it seems that it takes forever for prices to drop, which suggests that the sellers are selling lower cost product at the higher price for as long as they can. That also suggests greed on the part of the sellers. Now, who is greedy may be hard to determine -- it could be the major petroleum companies, independent refiners, distributors, or the retailers, or all of them.
 

Bob Dylan

50+ Year Amtrak Rider
Joined
May 31, 2009
Messages
24,375
Location
Austin Texas
It's pretty typical in these cases of price spikes (not just gasoline) the price spikes very quickly, even more quickly than the trigger can increase the cost to the sellers. This suggests greed, as the stuff being sold during and immediately after the spike, is from current inventory, which was obtained at the lower costs that prevailed before the triggering event. Then, moving forward, when the situation changes and the costs get lower, it seems that it takes forever for prices to drop, which suggests that the sellers are selling lower cost product at the higher price for as long as they can. That also suggests greed on the part of the sellers. Now, who is greedy may be hard to determine -- it could be the major petroleum companies, independent refiners, distributors, or the retailers, or all of them.
My Vote goes to " ALL".🤬
 

Willbridge

50+ Year Amtrak Rider
Joined
Mar 30, 2019
Messages
1,852
Location
Denver
Yep, Lines, Rationed Gas by Stations and Higher Prices, but I don't recall any Government Price Controls either.
I worked in transport jobs through the 1972-75 Energy Crisis and it was triggered by price controls. The actual rationing was done by the oil companies, based on the previous year's orders. This was a quick solution but resulted in bizarre distortions. During my time with the Gray Line of Portland as Dispatcher I had lots of Diesel because in the previous year they had lost a big contract. Our company president was bootlegging fuel to truck companies. Other charter operators were turning away business.

Oregon, where I worked with the state DOT, was particularly hard hit by this method of rationing. It had no refineries and in the previous year the oil companies had put numerous independent stations out of business. Therefore, Oregon's ration was less. At the same time there was a hydro power shortage and a natural gas shortage.

When we moved to San Francisco it was hard hearing the whining from Californians about how they were suffering.

Some good came out of it. The Cascades, the Pioneer, Portland Light Rail, the Eugene-Springfield BRT, Portland Union Station, state-organized Amtrak Thruway service all were pushed forward by the experience of discovering how foolish it was to depend entirely on one mode. The State of Washington began looking into rail alternatives and in California I think this was a factor in saving the San Joaquin and developing it.
 
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