Gas just topped $5.25 per gal in NC

[Cajun Kid]

My gosh, The gas stations all have 100's of cars in line for gas.  My son waited in line for 55 minutes to get gas at 4.19 per gallon this morning (but at 8:00am , I apssed the same station with no line and gas a 3.58) Now it is at over $5.25 and lines are 1/2 mile long and sign says 10 gallon limit.

I did check and Race gas did not go up and they said no plans to raise it.

Just my observation, it is  easy to blame the storm, but the strom can not take the entre blame, it at best just the excuse to raise prices, the stupid public that panics fills up every car and gas can they have, standing in line for hours creates a frenzy and this reduces supply and the greedy oil companies and fuel depots react and raise prices, then the higher the price goes the rumors abput no gas start, then more people line up and pay higher prices, it is out of control snowball gathering more speed and size as it goes down the mountain.

Oh well I will get off my soapbox now.. need to change trans pan gasket, put SFI roll bar padding in and then sweep the shop.

See ya.

Charles

[Uncle Jimbo]

No way Charles, get back up on that soap box !    Crude oil barrel prices are down to just over 100$ from highs of over 130 last month, but we sure didnt see the gas pump prices go down as fast as they went up as the barrel prices were going up. I blame the stock market and commodities speculators for gouging us.  I think its Un American.   

From days of old, when knights were bold, and rode Iron Horses.
Jimbo   

[Cajun Kid]

Jimbo, I agree, let me un sheath my trusty sword and get back on my soap box.

If you boil it down it is greed and ignorance.

Greed by the oil producers, greed by the importers, greed by the wholesalers, greed by the market makers, greed by the speculative investors, greed by the capital markets. Just plain ole GREED..

Ignornace by the buying public, you see when gas shot over $4,00 a gallon and oil at all time highs, it finally hit home and folks drove less, hmm the demand went down and supply went up, then we saw oil prices drop at a decent pace, gas however did drop but much slower pace.

Now oil is 33% lower and gas jumped up 40 to 50% in one day, you know it will take it months to get back down now, it is a historic first for it to top $5.00 per gallon ( I think  it has never topped $5 around here). So are we conditioned to high gas prices ? have they beat us into submission just to pay these unfair prices.

If only today when the prices started to rise, we had all just said NO and nobody bought gas, heck it is the weekend approching, if NO ONE (except those who make a living over the road) would buy gas (I mean any gas) stay home enjoy the family, work on your cars, do anything, but stay home and refuse to submit to this crap..dont buy any gas,,, that message would get across, then we could slowly turn the tide.

Yes the storm is real and visable threat, but under the surface the bigger threat is our own politicians, oil companys, commodity investors and foriegn suppliers.

Let's jack up the price of our CORN and WHEAT exports and see what Happens ?

Food for Oil 1 to 1 trade I say.....

Ok, enough, going back under the car.

Charles

[McRat]

They need to restrict speculation.  It's basically gambling except the house doesn't have the odds, and the consumer pays the pot.

Moving money from one pile to another is highly profitable, but accomplishes nothing for our country and generates false wealth and inflation.

Basically, make it so that if you want to "buy" oil futures, you must take physical delivery.  Suddenly the price at the pumps will fall.

[Dean Los Angeles]

You might just be at the wrong gas station.

According to GasBuddy.com the high end for Winston-Salem is $5.69, but at the low end 15 stations were below $3.53. All prices were from today.

In case you want to run over to Whit's Convenience in Lilesville, he's getting $7.49

[Cajun Kid]

McRat, I agree but it does not seem possible that we can ever stop futures trading.

However, we can refuse to buy gas for a weekend.. Just imagine how much money would be taken off the table if even 75% of the US Households refused to buy gas for 2 to 2 1/2 days ?

Yeah I know, some will say yes but come Monday they would all have to fill up, or they would fill up on Thursday.

Yes, but part two is go ahead and fill up on Thursday evening of Friday morning, the STAY HOME for the weekend, do not use the gas you bought, see that gas was saved, it is still in your tank, then when MOnday comes and the new work week begins you can go another 3 to 6 days before you need gas again (depends on your commute, MPG etc) but you get the point, could be 5 to 9 day spread from the time you last bought gas,  now think about that.

It would have to have an effect, even if it just made the point that 75% of us ain't ging to take any crap and pulled together for just one weekend.. man what a signal ??

Plus, I would still jack up Corn and Wheat export prices to the countries that export oil to us. Then at least we have a commodity to bargin with... But that fact is our politicians all have a common illness (NO SPINE)

Ok, back to work...

Charles

[Cajun Kid]

Dean, before lunch hour some stations still had gas at less than $4.00, but as word got out and lines got longer, prices started rising. I just spoke to a guy at the fuel depot and he said it would not suprise him if Gas got to $6.00 per gallon by noon tomorrow if this frantic demand and insane pump panic keeps up.  Each time a tanker rolls out the price is at least 50 cents more per gallon than the prior one.

Most stations now have NO REGULAR and are only selling Mid Grade and Premium. Most are stopping the pumps at 10 gallons.

A few stations closed this morning with FULL Tanks when gas was  arounf $3.55 a gallon, just to re open this afternoon  when gas went over $5.00 (talk about a profit margin, those stations paid less than $3.45 per gallon and now are selling in for over $2.00 per gallon pure profit.  I know it is only for the few 1000 gallons thay had in the tanks, but ya know, hope they sleep well,,,...

Charles

[McRat]

McRat, I agree but it does not seem possible that we can ever stop futures trading.

...

They would require proof-of-delivery prior to making another purchase.  Better yet, make the transaction taxable, and they get reimbursed if they take delivery.  Sales tax on a commodity would REALLY cut the purse strings of the day traders.

I'm not even sure commodity markets are as necessary as they once were.  "Just In Time" manufacturing and sales, internet transactions 24hrs a day worldwide, and more business activity might have made commodity markets an unnecessary mechanism today, being held in place only by the greed of the controlling financial institutions.

[racer x]

  I am not one to brag but I don't have a car.I have sold everything to go landracing. I ride my race bike as daily transportation. . This week I had to put all the race stuff on the bike to get ready for September. And I had to drain the tank . My scooter is full of gas and my extra gas can is full. I filled up the mower and still have half a tank in the race bike.
  I don't know what to do with all the extra gas.

[Cajun Kid]

Make a lot of runs and use up all that extra gas.   Where you running in Sept?

Charles

[racer x]

I will be at Maxton burning 10.00 a gallon race fuel. I can't wait .

[Cajun Kid]

X, I will be there as well, just running on 4 wheels. Race fuel did not go up today !!  woo hoo...

Let's hope for no wind, cool temps and dry Carolina Blue Skies.... That's GO-FAST Weather..

Charles

[t russell]

ya Fayetteville went to !@## too.

[Cajun Kid]

T, it looks like the panic is spreading. The Sheetz just run out of gas for the second time today. They have tried to hold prices, no one else has,,,,

Maybe this all will pass, then we can boycott the gougers....(if I spelled that right?)

Charles

[Stan Back]

I think that's what they call a good ol' capitalistic free economy for those of you who want one.