$5!? really ? but the exxon mobile CEO just said he doesnt see gas hitting $5 a gallon. We have about the same prices down here in San Diego where the average is about 4.29-4.49. SUCKS talk to ride my bicycle to work. http://lifeinc.today.msnbc.msn.com/...-gas-prices-topping-5?chromedomain=bottomline Despite rising crude oil prices and threats to stability in the Middle East, the price of gas is unlikely to reach a national average as high as $5 per gallon in the near term, ExxonMobil’s Chief Executive Rex Tillerson told TODAY’s Matt Lauer Friday. “As I look at just the supply and demand fundamentals, I would not expect prices to reach that level,” Tillerson told TODAY.
It is hard to predict prices of global commodities. While there is regional and national pressure on gas prices, it is also a global commodity that the price on the market sets world wide. That is why most of our refiners ship our diesel to Europe and they ship left over unleaded over here. It is also not much of a capacity thing in the US. Refiners have plenty of capacity, but the input (oil) is completely traded globally, for the most part, so if prices are affected worldwide, it costs refiners more to make gas, so you pay more. In fact, with higher oil prices (input) but with refineries easily making capacity (output) many refiners struggle to make margin on any gasoline for huge chunks of the year. You have to look at margins and costs along the total fuels value chain. It interlocks multiple global markets. The market for the input (oil) and the markets for the outputs (fuels such as kerosene, diesel, gasoline, jet fuel, ship fuel, etc and chemicals: benzene, toluene, xylene, olefins, ethylenes, propylenes, phenol, styrene, methenole, alcohol, formaldehydes, acetaldehydes, ketones, acids, polymers, thermoplastics, resins, and fibers.) All have their own markets, all are produced at different mixes, and all have different margins depending on the market on a particular day. So if a refiner can make more making diesel today, they will make less gasoline, etc. It is actually a fascinating market and it is sad/hilarious to see politicians and talking heads act like they know what they are talking about on TV when it comes to pricing. AND I didn't even mention all the taxation along the complete line of the Fuels Value Chain that adds up in the end. Also, the EPA mandated summer formulas kick in at Spring Break...so your 25 cent jump.
He apparently said "the national average"... California ain't the national average. California's prices on damn near everything sucks.
I'm so lucky, everything I need is literally within 2 or 3 miles of my place. I looked at my odometer the other day, since October 31, I've driven just under 2,000 miles. With a few 75 mile roundtrips to the Cypress area thrown in there.
It's Bush fault. Oh, he's out of office? It's Obama's fault. No seriously, it's on you Bush. Before you entered the throne, it was around 98 to 1.02. And for those 8 years, it kept going higher, and higher, and higher. It was that yodeler from the Price is Right but he's not falling off the cliff.
Just bought a 4th car for wife and I. Have a baby coming and need a family vehicle, got a 2010 Suburban for 5k below blue book because everyone is afraid of gas prices... Doesn't bother my situation but bad for most.
Obama isn't going to do ****. It's those oil people. I'm going to fill up my gas tank with a quarter tank of gas, roll up on their driveway, ring their doorbell, and tell them to step out on their yard so I can fight them and whoop their ass. I'm going to have to break some CEO's leg. Simple as that. I'll do it for America.
What's hilarious to me is we all complain about $5 gallon gas but pay $7 for a 12oz beer at Reliant/TC/MMP without a second tought, lol!
gas price has been ranging anywhere from 3.45 to 4 bucks a gallon, at least in sw side of town from what i've been seeing. You just have to keep an eye on the price whenever you pass by a station. Usually places like sam's, valero, conocophillip will be on the lower end. And you can also save $ by using a gas card or cash.
I paid $12/gallon in London not too long ago...in all reality family in the gas station biz...nearly 40 cent a gallon gas tax nobody talks abt per gallon included in price. Also gas stations make the same margin regardless, maybe a tick higher as prices go up to offset rising credit card fees which could be 10 plus cents a gallon.....gas in places like Venezuela and Saudi Arabia is a few cents a gallon, in the US it's all taxes and gas company profits....blaming Washington and speculators who rush to invest huge hedge fund dollars in oil. You think small gas station owners want higher gas? You make the same money and a .50 increase on 12,000 regular +3,000 plus +3000 premium is a 9,000 dollar inventory increase which most small shops barely have the money to risk.....high gas benefits nobody but washington
