[zephyrracer]

Best way to get prices down is drill baby drill, here in the USA !!!

Gregg

[hurryinhoosier62]

What I find interesting is gasoline is $3.79-3.89 per gallon here, but go to the Tampa area it's $3.50 per gallon.

[Alvin]

Originally Posted by SRR

Diesel is 3.99, reg is @ $4.19 as of today.

Very strange. Not picking a fight or disagreeing w your SoCal pricing.

Here in the Texas Houston market, Diesel USED TO be cheaper than Gasoline, that was before - IIRC around 2006(?) - the Fed mandated lower sulphur content in domestic USA Diesel.

EPA mandates ultra-low-sulfur diesel fuel
Jun 05, 2006
The Environmental Agency has quietly issued a rule requiring U.S. oil refineries to produce ultra-low-sulfur diesel fuel to substantially reduce emissions.

Read more at: http://phys.org/news68727962.html

After that Reg hit, diesel jumped to a higher price above gasoline here, and has been ever since to my knowledge.

Here's an interesting "Weekly Retail Gasoline and Diesel Prices (Dollars per Gallon, Including Taxes)" information link: http://www.eia.gov/dnav/pet/pet_pri_gnd_dcus_nus_w.htm

[GT182]

Gas went thru the roof here last night. Wawa was 3.51 for 87oct and jumped to 3.65. Premium is now 4.07. Every other station took around hiked prices too. Prices here now run from 3.47 to 3.73.

Across the DMB Jersey only jumped .03 for 87oct. Now at 3.28 to 3.35 for 87oct in Pennsville.

[Alvin]

Filled up this morning. Price was exactly same @ $3.42...

[66 Wagon]

The gas, unleaded 95, is 8,40 dollars/gallon here in Sweden. 65-70% is taxes...

[GT182]

I thinks it's the usual 'Holiday' price hike. Hopefully prices will drop after Easter..... until Memorial Day.

[Alvin]

MARKET WATCH: NYMEX crude oil prices flat, staying under $100/bbl

Oil prices dropped on New York and London markets in May 5 trading, and analysts said the energy markets lacked firm direction amid disappointing economic news from China and continuing conflict in Ukraine.

Clashes were reported in at least six eastern Ukraine cities during May 3-4 while Ukraine’s military works to reclaim control of certain territories from pro-Russian rebels.

Elsewhere, China’s final HSBC Manufacturing Purchasing Managers’ Index for April released May 5 rose only slightly to 48.1 compared with 48 in March. A reading below 50 indicates economic contraction, signaling slowing oil demand from China.

Barclays Capital Inc. analysts expect world oil fundamentals will firm in coming months, they said in a weekly energy outlook note.

“Along with summer demand and refineries returning from maintenance, the Brent July-August time spread is expected to be well supported given the 25-day maintenance announced for Buzzard,” Barclays noted of the UK North Sea oil field.

Energy prices
The New York Mercantile Exchange June crude oil contract price declined 28¢ on May 5, closing at $99.48/bbl. The July contract dropped 31¢ to settle at $98.73/bbl.

The June natural gas contract edged up 1.4¢ to a rounded $4.69/MMbtu.
Heating oil for June delivery decreased by a rounded 1.6¢ to a rounded $2.91/gal. Reformulated gasoline stock for oxygenate blending for June delivery decreased 3.5¢ to a rounded $2.91/gal.

In London, the June ICE contract for Brent crude delivery dropped 87¢, closing at $107.72/bbl. The July contract dropped 85¢ to settle at $107.12/bbl. The ICE gas oil contract for May was down $11.50 to $898/tonne.
The Organization of Petroleum Exporting Countries’ basket of 12 benchmark crudes was $104.35/bbl on May 5, increasing 10¢ from May 2.

http://www.ogj.com/articles/2014/05/...r-100-bbl.html

So why the high $$$ @ the pump?

[67Twistytee]

In the U.S., crude oil only makes up 67% of the cost of a gallon of gasoline. 12% is refining; another 12% is taxes, and 9% is distribution and marketing. In general, the cost of these other three price inputs is going up not down. We can and should expect the cost of refining to go up because of regulatory impacts and closure of existing refinery capacity in the U.S. Same can be said of transportation, since the many of the country's pipelines are at or near capacity and we lack sufficient oil terminal facilities to make up the difference with shipping.

Shut downs in east coast refining capacity will likely lead to higher price volatility and higher transportation costs due increases in the supply chain - the resulting reduction in local supply must now be offset by moving product from the Gulf Coast. The fact that the pipeline that currently delivers this product is at or near capacity will only make matters worse.

In addition to refinery constraints in the U.S., shutdowns in Europe and Hovensa facility in the Virgin Islands have tightened the global supply of gasoline. Oil is a global commodity, and the tensions in the Ukraine are definitely having an impact of pricing.

Distillate fuel oil (used to make diesel and heating oil) is trending down due to softening in emerging market demand (Latin America, China, India, etc) where it is the primary source for heat and power, but this doesn't necessarily translate into reduced pricing for gasoline. Roughly 47% of a barrel of oil is used in gasoline production. The balance goes to produce distillate, jet fuel, liquid petroleum, asphalt, and other products.

The good news is the US consumption of oil is plateauing, and the prevalence of energy efficient cars is increasing as the public retires their older vehicles (not ours!) and replaces them with more energy efficient cars and trucks. Also, more young people are choosing to live in urban centers and do without the expense of a personal vehicle. Absent additional shocks in the system from political events like in the Ukraine, gas prices should stabilize and may trend downward modestly the rest of this year as global demand remains soft.

Much of this info is available at the US Energy Information Administration for those interested to look it up.

http://www.eia.gov/

[Judge273]

Gas prices and weather have a change in seasons. Price of gas changes, and the reasons for change also change...

[hurryinhoosier62]

Local prices have dropped nearly $.30 per gallon since the 14th of April, but if you drive down to Jupiter (20 miles south) the prices have NOT changed. $3.59-3.74 locally.

[Region Warrior]

Slowly went down past 2 weeks to 3.57 last night. 3.79 this morning.

[hurryinhoosier62]

Originally Posted by Region Warrior

Slowly went down past 2 weeks to 3.57 last night. 3.79 this morning.

Funny how these price increases ALWAYS take place close to the weekends and holidays.
Ours vary with the arrival and departure of the "snow birds"; up with their arrival, down with their departure.

[David Jones]

$3.48 this morning.

[Icefan71]

Can't we just say Big Oil has us by the "you know whats" and they can do whatever they please?

[hurryinhoosier62]

Originally Posted by Icefan71

Can't we just say Big Oil has us by the "you know whats" and they can do whatever they please?

More like commodity speculators and a weak dollar.

[63Banshee]

Just wait till B.O. pushes thru cap and trade executive orders --

I expect diesel to be 4/gal by the time I leave for Norwalk this year. I'm not planning any trips next year. Thanks Obama!

[67Twistytee]

Very true. Cap and Trade is a tax no matter how you slice it. And the producers will find a way to shift it to the consumers. Combine this with the upcoming insolvency of the Highway Trust Fund ( Federal gas tax hasn't increased since 1992) and the gas tax will grow considerably.

[zephyrracer]

Nothing to do with speculators, they spec up and down, nothing to do with the big oil either its is your government, big oil makes about 3 cents per dollar profit, gov 12 cents, then there is roughly 50 per gal to the gov after it is sold at the local gas station, the station makes 8 cents per gal, you want to go after someone making big dollars in profit its big hamburger they make 10 times the amount as big oil, but both are profitable by shear volume, and the gov makes more profit and with no skin in the game than anyone.

Gregg

[zephyrracer]

And state government is looking to increase taxes because we are driving less so there isn't enough revenue being produced for road repair.

Gregg