ehill27
Short North
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U.S. has excess of crude oil, but no drop in price
By Eric Nalder - HEARST NEWSPAPERS
Sunday April 29, 2012 10:28 AM
For the past two years, crude-oil stocks in the U.S. have been at historic highs, while Americans are using decreasing amounts of its most-important product — gasoline.
pedex
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ehill27 said:
U.S. has excess of crude oil, but no drop in price
By Eric Nalder - HEARST NEWSPAPERS
Sunday April 29, 2012 10:28 AMFor the past two years, crude-oil stocks in the U.S. have been at historic highs, while Americans are using decreasing amounts of its most-important product — gasoline.
A) oil is not as fungible as people assume, refineries can't just refine anything
B) refining margins are being crushed and many are for sale and sit idle in the US
C) oil is an international market which does not give a crap what US consumers pay for it with their fiat dollars
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Columbus Underground
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Gas prices linger well below 2011 highs
Updated: Monday, 07 May 2012, 6:46 AM EDT
COLUMBUS, Ohio (AP) - Ohio gas prices are hovering about 40 cents below the record highs reached a year ago. The state's average price for regular gas is $3.76 a gallon in Monday's survey from auto club AAA, the Oil Price Information Service and Wright Express. That's up 2 cents compared with the average a week ago.
READ MORE: http://www.wdtn.com/dpp/news/ohio/gas-prices-linger-well-below-2011-highs
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Columbus Underground
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Jobs Report Sends Oil to Lowest Price in 6 Months
By CHRIS KAHN and JONATHAN FAHEY AP Energy Writers
NEW YORK May 5, 2012 (AP)
The price of oil plunged to its lowest level in nearly six months Friday, falling below $100 per barrel for the first time since February. A drop in gasoline prices can't be far behind. It's a welcome trend for motorists, with the summer driving season just around the corner. And it eases some pressure on the U.S. economy, which has shown only agonizingly slow growth in the nearly three years since the Great Recession ended.
READ MORE: http://abcnews.go.com/US/wireStory/jobs-report-sends-oil-lowest-price-months-16281521#.T6fI-O09mjA
leftovers
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I doubt people would say that gas prices were a prime determiner of why they moved somewhere. I think accessability is a huge factor but that has more to do with amenities. I know plenty of people who live in the AD/SN who commute to dublin and pay more* to live near where they play.
* a lot more than extra cost of gas
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Columbus Underground
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Ohio gas prices at start of summer hold steady
ASSOCIATED PRESS
COLUMBUS — Ohio drivers are paying less for fuel than some analysts had expected as the summer driving season gets under way. The average price for regular gas in Ohio is about $3.66 a gallon in Tuesday’s survey from auto club AAA, the Oil Price Information Service and Wright Express. That’s up 2 cents from a week ago.
READ MORE: http://www.toledoblade.com/State/2012/05/29/Ohio-gas-prices-at-start-of-summer-hold-steady.html
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Columbus Underground
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Price of gas plummets in Ohio
Business First
Date: Monday, June 4, 2012, 2:01pm EDT
Gas prices in Ohio and around the country are tumbling on news of disappointing job growth and other signs of weakening economic conditions in the U.S. and around the world.
READ MORE: http://www.bizjournals.com/columbus/blog/2012/06/ohio-gas-prices-fall.html
L.I. to Buckeye
West side/Galloway
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News said:
Price of gas plummets in Ohio
Business First
Date: Monday, June 4, 2012, 2:01pm EDTGas prices in Ohio and around the country are tumbling on news of disappointing job growth and other signs of weakening economic conditions in the U.S. and around the world.
READ MORE: http://www.bizjournals.com/columbus/blog/2012/06/ohio-gas-prices-fall.html
That's interesting. Gas went up almost $0.30 in my area today. It was in the $3.39 range last night and it's up to $3.65 now.
I think this press jinxed us.
Twixlen
The Weston District
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They hike it on Thursdays - at least, as I've noticed in my neighborhood. It used to always be Friday, and I think they caught on to the fact that people stopped filling up on Fridays (at least, I did, unless in dire straights).
I'd love to see more anti-collusion measures being taken against the pricing.
bucki12
wp
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Twixlen said:
They hike it on Thursdays - at least, as I've noticed in my neighborhood. It used to always be Friday, and I think they caught on to the fact that people stopped filling up on Fridays (at least, I did, unless in dire straights).I'd love to see more anti-collusion measures being taken against the pricing.
+1 I noticed that too. These gas prices are such a shell game.
pedex
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Twixlen said:
They hike it on Thursdays - at least, as I've noticed in my neighborhood. It used to always be Friday, and I think they caught on to the fact that people stopped filling up on Fridays (at least, I did, unless in dire straights).I'd love to see more anti-collusion measures being taken against the pricing.
managers and assistant managers of gas stations do local daily surveys of gas prices in their area and set their prices accordingly
gas prices have almost nothing to do with the actual delivered price, I take deliveries of 8000-8400 gallons of gas all the time and we do not change our selling price based on what we pay
but then again usage is dropping off a cliff:
Twixlen
The Weston District
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pedex said:
managers and assistant managers of gas stations do local daily surveys of gas prices in their area and set their prices accordinglygas prices have almost nothing to do with the actual delivered price, I take deliveries of 8000-8400 gallons of gas all the time and we do not change our selling price based on what we pay
but then again usage is dropping off a cliff:
Cool chart.
In high school (admittedly, forever ago), I worked at a gas station (that also sold fuel oil, John Deere tractors, furnaces & hot water tanks as well as the service for both), and every evening we got a phone call that was the price of our gas & oil products. For the gas that came out of the pumps, our price was between 1/2 a cent to a full cent per gallon higher than what it cost us to buy it. And we were maybe only a penny or two off the other stations, in other parts of the county, and state.
So, not basing the price of gasoline off the price that was paid it must be a newer practice.
pedex
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Twixlen said:
Cool chart.In high school (admittedly, forever ago), I worked at a gas station (that also sold fuel oil, John Deere tractors, furnaces & hot water tanks as well as the service for both), and every evening we got a phone call that was the price of our gas & oil products. For the gas that came out of the pumps, our price was between 1/2 a cent to a full cent per gallon higher than what it cost us to buy it. And we were maybe only a penny or two off the other stations, in other parts of the county, and state.
So, not basing the price of gasoline off the price that was paid it must be a newer practice.
in rural areas OR when the retail market is tight price is set by delivery plus a profit margin
in cities though where all the fuel comes from one tank farm and the companies are regional or national and buy their fuel in huge lots off the futures market the daily retail price versus delivery price typically has a pretty wide spread
Wholesale gasoline right now is somewhere around $2.70-$2.80 a gallon, add tax here in Ohio and you are up to $3.13-$3.23, then add delivery charge which isn't much cause most regional companies have their own trucks and drivers and the actual end sale profit is easily 10-30 cents a gallon at times. Might sound like a lot but by % it isn't. Selling gasoline isn't where the profit is, it's the high profit items inside the store like pop, snacks, hot dogs, coffee etc etc We rape people on those items. Maintaining a gas station ain't cheap either. There's tons of equipment involved. Convenience stores though are easy money. That's also why certified, longfeld, and other regional oil co's attach Subways or Wendy's or whatever fast food places to their stores, it's additional profit and co-located. Gasoline just gets you in the door.
raise the price on thursday thru sunday to stabilize your daily sales #'s and you can see often times a 20-30 cent a gallon spread over a week
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Columbus Underground
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Ohio gas prices inch up, national average drops
6:46 AM, Jun 11, 2012
Associated Press
COLUMBUS, Ohio -- Ohio gas prices are hovering well under $4 as signs of economic weakness in the United States and elsewhere have pushed the price of oil toward its lowest level since last fall.
READ MORE: http://www.wkyc.com/news/state/article/247943/23/Ohio-gas-prices-inch-up-national-average-drops
cheap
Westgate
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so much for $8 a gallon
http://www.thestate.com/2012/06/22/2326200/gas-dips-below-3-in-some-locations.html
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Columbus Underground
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Gas prices could spike for the Fourth of July as oil prices soar
Published: Saturday, June 30, 2012
By John Funk, The Plain Dealer
If falling gasoline prices this week on the eve of the July Fourth holidays seemed too good to be true, they probably were. Contract prices for crude oil and gasoline spiked around the globe Friday after European financial and political leaders cut a new deal to contain the continent's economic contagion.
READ MORE: http://www.cleveland.com/business/index.ssf/2012/06/gas_prices_could_spike_for_the.html
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