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FORUMS General Discussions Open Forum How Much Did You Pay For Gas Today
TOPIC: How Much Did You Pay For Gas Today
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I also forgot to mention that workers at 12 refineries representing 20% of national production capacity have been on strike for 4 weeks, impacting supply.

Windermere FL
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Guys -

Prices at the pump lag around 30 days behind changes in crude price because gasoline futureS contracts are made out on 30 day delivery terms. Around Jan. 20 the price of WTI crude was around $45 a barrel. Ideally you can get around 40 gallons of fuel from a 42 gallon barrel so the crude component is about $1.12 a gallon.

In the last week of January the price of oil jumped to around $54 a barrel. This equates to around $1.36 a gallon - a 24 cent increase. Brent crude was around the same price but has went up to over $60 a barrel - about a 36 cent increase. The price of gas at the pump - nationally - has gone up 35 cents over the last few weeks. The increase can be attributed mostly to the increased crude price, with some more in some places due to supply problems due to winter storms.

People always suspect oil company gouging when the price goes up. If this is true this would mean the oil companies just decided to cut the price of gas in half for the hell of it and lose tons of money. It doesn't work that way.

Windermere FL
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In California gas is over $3 a gallon now and climbing...the unions are striking at the refineries and the idiot liberals have Cap and Trade gas tax starting now, California is paradise if only the liberals would all move to Hawaii.

Ukiah CA
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me thinks oil companies gougery

Rockport MA
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So wait are the price Jumps now Bammy's Fault?

Middletown NY
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on feb 15th is was 1.95 today is is 2.43 WTF

Rockport MA
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6 cents overnight down here. didn't check today.

up 20 cents in a month.

paid $2.15 on sat morning before the 6 cents overnight hike.

Manville NJ
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price jumped 4c in 2 days

Rockport MA
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$2.04

San Antonio TX
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gas up to 2.39 and diesel jumped to 3.49 WTF 1.10 higher

Rockport MA
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TOPIC: How Much Did You Pay For Gas Today