This page has been archived and commenting is disabled.
Don't Look Now But Gasoline Is Up 10% In 3 Days
After a year of proclamations from mainstream media (and Wall St. economists) that low oil prices mean low gas prices at the pump which means "bonanza" for US consumers, it appears none of that happened. Confidence is fading fast despite what some suggest is $550 average savings this year as 'gains' flooded into soaring rent and healthcare costs. But, more recently, as stock markets celebrate a soaring oil price (off decade lows), wholesale gasoline prices have soared 10% in a little over 48 hours...
If lower gas prices was "unequivocally good" for the consumer, what are higher gas prices?
Charts: Bloomberg
»
- 55 reads
- Printer-friendly version
- Send to friend
- advertisements -
Shorts taking down Var ahead of Christmas. It's a risk-off move.
Damn. And just a couple days before I am doing my traveling. I paid 1.86 last time I filled up.
But I would hardly call this much of a trend. I still say oil is going down to 25 eventually.
Oil futures down 30%, gas down 8%. Refiners are fisting the middle class, trannies and manufacturers.
You know, what this ol' economy needs to improve is HIGHER interest rates coupled with HIGHER energy costs to go along with HIGHER everything else...the big secret is that prices are not getting higher, the value of our dollar continues to go lower and lower and lower...
I filled up two days ago and it was $1.39/gal. That's the first time in years I filled up for under $20.00.
Where are you at? The wholesalers and retailers here in Micky Mouse land are raping us at $2 plus per gallon.
Midwest
Average $1.80 in north tx
Raped? Welcome to Europe.....filled 'r up at $6.06 a gallon. You guys got waaaays to go!
If you are in the market for a car, buy a used Prius. Stupid Americans are incapable of thinking long term and high economy cars are unloved at the moment.
I'd recommend this only if you're an accomplished electrical engineer, with friends in the lithium battery wholesale industry.
VW TDI is the shit guys. Corporate fascism working in our favor for once: 50 mpg, who is complaining as long as you don't live in left fascist California where they'll make you "fix" your car.
Is that one of the models under the emissions fraud?
no, it be da emisshun laws whats da frawd bruthah...
BlindMonkey
No, buy a fuel-efficient all gas powered vehicle.
If you want to buy a used Toyota,
something like a non-hybrid Yaris makes more sense than a used Prius.
don't look now, but wholesale gasoline goes for 40% of what it cost just a year and a half ago... yet another daily action bullshit article from the Tyler 'B' squad...
Really? Crude is down 32% YTD, gas 19% YTD. As usual, almost everyone is getting fisted, those on the other side of that deal are driving Lamborghinis and are fucking 1,000 dollar hookers.
yes, really... the chart is on line for all to see, a year and half ago wholesale gasoline was at around $3.10 US
OK, then let's agree on the facts first.
I'm looking at the on-the-run gasoline futures. XB1 Comdty, the one for 42,000 gallons, traded in USD. That work for you?
Let's look at June 30 2014:
Crude closed at 105.37, now 37.87 that's down 64%
XB1 closed at 307.7, now 128.25 that's down 58%
Not too bad. Let's look at YTD:12/31/2014
XB1 143.53, right now 128.25, that's down 10%
CL1 53.27, right now 37.87, that's down 29%
Refiners are having fun, the rest of us are getting fisted.
You are right. Look at the stock prices of independent refiners like Valero and Tesoro and they are way up.
Americans doing what Americans do best...
Taxing the shit out of gas, cigarettes, alcohol, and guns when they should all be tax-free and available in the 24/7 convenience store.
It's just catching up to the divergence with bottled water...
Gotta sock it to all those holiday travellers...duh.
Anyone willing to bet that there were a few more sentences in the Omnibus bill regarding oil, that either benefit Wall Street oil speculators or big oil companies? Ryan didn't give away the house for nothing.
91 octane near where I live is 3.02
Gas theivery (revisited).
$USD went down the last few days - both stocks and oil are priced (for our context) in dollars - so why wouldn't that mean both oil and stocks go up in kind? It's the Bizarro World cases where they move in tandem with $USD that vex me.
$1.99 - $1.87 in NE Maryland today for 87 octane.
Doesn't matter
The deed is done
Jubilant mall rats won't notice the spike until they start exhanging crappier crap for crappiest crap
Oil prices go up and gas prices follow in 2 days...oil prices go down but it takes 6 months for gas to follow
The good old Mainstream Media. A bunch of glorified flunkies. Everything they put on TV is propaganda except for sports scores.
Dude, it is all studio wrestling.
Waiter, more bread so my friend can enjoy the circus.
Eventually,
higher gasoline taxes will offset
any lower gas prices.
Another breathless ZH headline. However, gas prices always go up on holidays... Merry Christmas.
I just paid 3.31 for 87 at a Chevron. Orange County, CA.
I hate this place, I truly do.
Right off of 73, there is an Arco charging 2.73. Shop around.
Well.. those P&E junk bonds need to be paid next year BTW.
So.. tough luck dudes..