Gas prices up 25 cents in the past week

[MMDad]

Originally Posted by GWguy

Actually, I was going to start a post about that this morning, you guys beat me to it. The price of crude DROPPED this week, mostly due to AMPLE RESERVES. So I can't figure out why the price has gone up 20 cents this week alone, 10 cents since yesterday.

A couple of VPs at the oil companies must have wanted new boats or retirement.

Oil prices fell slightly on Thursday from their Wednesday high of $101.32, which is the highest price ever. Prices are still way up.

[GWguy]

Originally Posted by thurley42

I heard a conflicting report on like Monday or Tuesday that said it had went back up over 100 a barrel....I believe you, I heard it in passing, so I might not have heard it right....it's all stupid anyway.

When I was back home for the holidays my friends are I were talking about when we were 16 and got a measily 40 dollars a week allowance and how it would have gone to just gas. We would have had to drink Popov or MD 20/20 instead of Old Mill h ahahahahahaha

I used to pump gas at a Hess station in NY when I was 18, the price of premium was 33 cents. I would fill the tank on my Belair on tips alone.

Originally Posted by MMDad

Oil prices fell slightly on Thursday from their Wednesday high of $101.32, which is the highest price ever. Prices are still way up.

Which is kinda my point... when it was higher, our prices were lower, when it dropped (all of a few cents), our prices skyrocketed. Just seems a bit reversed.

[czygvtwkr]

Originally Posted by Cowgirl

I think we all should complain more. When oil companies are making record profits, something is wrong. I know the oil companies need to make a profit, but when oil prices go up, the profit margin should stay relatively the same.

When gas was around $1 a gallon they actually lost money.

Think about it when oil was $15 a barrel gas prices were about $1.25 and now that its $100 a barrel gas prices are $3.00.

The oil companies are making record profits because their through put is more and more every year.

And I've said it over and over again, the government makes more on a gallon of gas than Exxon does look it up.

[MMDad]

Originally Posted by GWguy

Which is kinda my point... when it was higher, our prices were lower, when it dropped (all of a few cents), our prices skyrocketed. Just seems a bit reversed.

Oil spiked on Tuesday and Wednesday, and went back down slightly. It's still way up. Gas prices followed the market up.

Gas prices were lower a week ago because oil prices were lower a week ago.

[thurley42]

When i started driving it was like ,97 cents? I rememeber when it went over a dollar I thought it was the end of the world.....

[GWguy]

Originally Posted by MMDad

Oil spiked on Tuesday and Wednesday, and went back down slightly. It's still way up. Gas prices followed the market up.

Gas prices were lower a week ago because oil prices were lower a week ago.

Ok, so maybe it's me that's bass-ackwards....

[Pushrod]

Originally Posted by sockgirl77

Screw it. Why complain? Why wonder why? You still need to fill up your car. Doesn't matter the cost. It is a need. Complaining and wondering is not going to change things. I got a great text last week about gas prices screwing you. But, it's too vulgar to post.

We can't get apathetic about things going on around us! Fuel prices affect more than just driving your car around, they affect the price of heating or cooling your home, how much your groceries are going to cost, how much your clothes are going to cost. With record high fuel costs, it 'fuels' the inflationary fires which devalues our dollar even more.
At some point, portions of the population are priced out of the market for basic necessities. When these groups of people can no longer feed or cloth their families what do you think they are going to do? Sit around and watch their families starve and freeze or go and take from those that still have what they need?
This spirraling out of control needs to be stopped. Whether it takes going up to the ANWR to drill for oil or putting a profit cap on fuel sales (which I have a hard time swallowing), we need to do something.

[MMDad]

Originally Posted by Cowgirl

I think we all should complain more. When oil companies are making record profits, something is wrong. I know the oil companies need to make a profit, but when oil prices go up, the profit margin should stay relatively the same.

Do you have a retirement account? 401k? Pension plan? Mutual funds?

If so, you own stock in the oil companies, and their profit is going to you. It isn't a couple of fat cats sitting in Texas getting rich. These record profits are going to people like you and me.

It's easy to blame the oil companies because they are so visible, but they are not the problem. Suppose Exxon-Mobile cut their profit margin. Would a $0.05 drop in gas prices actually help you? Would you even notice it?

[Cowgirl]

Originally Posted by MMDad

Do you have a retirement account? 401k? Pension plan? Mutual funds?

If so, you own stock in the oil companies, and their profit is going to you. It isn't a couple of fat cats sitting in Texas getting rich. These record profits are going to people like you and me.

It's easy to blame the oil companies because they are so visible, but they are not the problem. Suppose Exxon-Mobile cut their profit margin. Would a $0.05 drop in gas prices actually help you? Would you even notice it?

I remember reading a report from a few years ago (after the prices first started jumping) that the oil companies had made more profits in the first quarter of that particular year than the entire year before that. To me, that's wrong.

I'm having a hard time finding any good articles or charts comparing oil prices to gasoline prices. I would be very interested in seeing the relation between the two.

And yes, I think even a $.05 decrease in prices would help..but do you really think they're overcharging by only $.05?

[czygvtwkr]

[quote=MMDad Would a $0.05 drop in gas prices actually help you? Would you even notice it?[/QUOTE]

Man I could fill my tank for 60 cents less, I could buy a candy bar with that....almost.