How is this happening?

[No Mandate Here.]

If oil is ~ $45.00 a barrel, and retail gas prices instantly go way up every time it has risen in the past, what is allowing them to stay low right now?

(the question is somewhat rhetorical)

Might the oil companies be sacrificing their god given rights to gouge us so that their puppy can get reSelected?

Nah. that would be too cynical.

[NewHampshireDem]

1. I don't know where you live or buy gas ...

but I've seen prices bouncing, up ... down ... up ... down ... and right now they are back up to near $2.00 at the local station, when they had been under $1.90 last week. :shrug:

[Skarbrowe]

3. I'm not sure I'm going to get this right but

I've read recently, and sorry I don't have the link but it was probably on here somewhere, that Iran is saying that enough oil is being produced by OPEC for now. The "now" is the problem. It's the futures trading that is keeping the price by barrel high. Jeb Bush (ewwww) had dropped gas prices in Florida by at least 8 cents or more as part of a tourist grab ( until Charley anyway ) and we had seen some relief at the pumps.

I wouldn't doubt that we see prices go down in October because Georgie (eewwww) would really appreciate that before November. It would be blatant by having his Saudi brothers helping him out and obviously not in fitting with the futures market( terrorist oil line disruptions, China's surging demand etc.,) but it still might happen.

Whether peak oil has been reached or is close to being reached, in my personal opinion, has nothing to do with the games they are playing now with oil prices. Suppose it could be compared somewhat to what happened to electrical energy prices by Enron and others a few years back.

In other words, we are constantly being messed with on energy and fuel prices in which we have absolutely no control. The only thing we can do as individuals is cut demand as much as possible.

There. Now I bet that didn't make a heck a lot of sense, but I tried. :)

Skarbrowe

[ProdigalJunkMail]

2. most likely current demand has been lowered

by the end of the summer drive season. Prices almost always fall at the end of summer as the schools go back into session. Just wait til the cold comes along...heating oil demand should drive those prices right back up...

theProdigal

[unblock]

4. i agree, it makes no sense

gas prices have refused to go substantially beyond $2.00/gal here in nj. crude is now $46/bbl, and gas prices are unchanged from when oil was $36/bbl.

a SMALL part of this might be the normal end of summer (though that usually comes after labor day), but i think a LARGE part of it is manipulation.

you see, while crude has remained high throughout the oil-slick chimpy administration, his buddies in the domestic oil biz have been making out like BANDITS. so, they want to keep shrubby in the oval so they can have 4 more years of high crude prices as an excuse to sell domestic oil at a huge markup. so they're agreeing to keep gas prices below the PYSCHOLOGICALLY CRITICAL $2.00/gal mark heading into the election.

they do NOT want gas prices to be the headlines, shrub would NEVER have a chance if they were.

[Junkdrawer]

5. Ya think?

Lord help us this winter. $1000 heating bills will be common.

[Deja Q]

6. If the price increase was recent, it'll take a couple of days for

the effects to reach the rest of us.

I've already seen prices for food go up. $6 chicken is now $7. $1.19 ground turkey is now $1.37. Frozen veggies up to $1.75 from $1.63.

Shop around and stock when they have sales. When water chestnuts are $0.50 per tin, I stock up. A competitor has frozen veggies for $1.05 and don't appear to be any different. Oddly enough, a gas station has onions for only $0.29/lb (ditto for bananas).

[southernleftylady]

7. I heard that this oil that the price is so high is for SEPTEMBER delievery

that means prices are going to go sky high right before elections... if everything goes the way it is supose to.. but we all know about how that sometimes plays out :eyes:

[Strelnikov_]

8. As I understand It, Refineries Are Clearing Out Their Stock

of summer blends.