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View Full Version : Fellow zilvia memeber hear this warning..


LeftNutOfGowd
09-11-2008, 08:50 PM
GO FILL YOUR TANK UP ASAP GAS IS GOING TO JUMP IN PRICE TO $5.00 BY MIDNIGHT DUE TO HURRICANE IKE

NEW YORK (CNNMoney.com) -- Retail gasoline prices rose modestly for the second day in a row Thursday as Hurricane Ike entered the Gulf of Mexico, according to a nationwide survey of gas station credit card swipes. But wholesale gas prices in the region soared.

Wholesale jump: As the storm churned toward the Texas coast, wholesale gas prices were up more than $1.50. On Wednesday, a gallon of gas cost $3.25 on the Gulf Coast wholesale market, and by Thursday afternoon, wholesale gas cost more than $4.75 a gallon, according to Tom Kloza, the chief oil analyst for Oil Price Information Service, an independent publisher that follows wholesale and retail fuel prices in North America.

The Gulf Coast wholesale market is the largest bulk market for wholesale gasoline in the world, according to Kloza.

"They are absolutely going ballistic in the Gulf Coast," said Kloza, and the pricing is based on fear of Ike shuttering refineries.

When wholesale gas prices go up, that pushes up retail prices, because dealers pass on the price jump to consumers. But Kloza said that given the oddity of the current situation, he does not expect prices at the pump to jump nearly as drastically as wholesale prices.

"You may see companies that traditionally pass on these increases only pass on a portion," said Kloza. "It is very complicated but I don't think you can use the normal metric," in this situation.

The spike up in the wholesale market could come back down as quickly as it shot up, said Kloza. "We could be at $5 a gallon for wholesale tomorrow afternoon. We could be at $3."

The futures contract for October delivery of wholesale gas was still trading around $2.78 a gallon.

Production shutdown: As of Thursday, 78.4%, or 562 of the 717 manned production platforms remained evacuated, according to the Minerals Management Service. And about 95.9% of oil production in the region has been shuttered.

Forecasters are currently predicting Ike will hit Texas, just south of Galveston, as a major Category 3 hurricane late Friday or early Saturday but the storm remains unpredictable. Still, the Lone Star state has started or planned mandatory and voluntary evacuations in at least seven coastal counties.

Retail prices: The average price of regular unleaded gasoline edged up 0.3 cents to $3.671 a gallon from $3.668 a day earlier, motorist group AAA said Thursday. Gas prices had previously risen in response to Hurricane Gustav, which forced workers to abandon offshore oil rigs ahead of that storm.

Gas prices jumped 0.5 cents to $3.537 a gallon in Texas. Prices also popped higher in Alabama, Georgia, and the Carolinas. However, prices edged lower in Florida, Mississippi and Louisiana.

Prices have trended higher in the Midwest and Southeast partly due to production delays caused by Gustav, said Tom Kloza from Oil Price Information Service (OPIS). He noted that prices are expected to continue rising as Hurricane Ike churns through the Gulf of Mexico.

Nationwide, Alaska and Hawaii remained the two states with gas prices still tracking above $4 a gallon. The cheapest gas continues to be found in New Jersey, where prices averaged $3.409 a gallon.

Crude prices have trended lower amid heightened concern about weakening demand. Oil prices continue to hover around their lowest level in five months.

On Wednesday, crude prices churned throughout the session as heightened concern about slumping demand overshadowed a government report showing a bigger-than-expected decline in oil and gasoline inventories.

Crude futures for October delivery settled down 68 cents a barrel at $102.58 - their lowest close since April 1. Early Thursday, prices edged 43 cents lower to $102.15 a barrel.

Meanwhile, gas remains about 10.8%, or 44 cents, below the record high average of $4.114 that AAA reported on July 17, but remains 86 cents above this time lastGas prices rise again as Ike gains strength - Sep. 11, 2008 (http://money.cnn.com/2008/09/11/news/economy/gas_prices/?postversion=2008091108)Last Updated: September 11, 2008: 2:29 PM EDT

http://i250.photobucket.com/albums/gg246/rborroel21/map_tropprjpath09_ltst_5nhato_enus_.jpg

ESmorz
09-11-2008, 08:54 PM
It's all a conspiracy.

http://i168.photobucket.com/albums/u198/headsy22/RonPaul08_VOTE1.jpg

90hatchie
09-11-2008, 09:00 PM
damn and gas prices were finally going down

LeftNutOfGowd
09-11-2008, 09:03 PM
^^ thats what im saying im going ot fell up my tank be back in like 10

mRclARK1
09-11-2008, 09:08 PM
From what I read it MIGHT go up.

Meh. It's been going down most places... But where I live? Nope, been at the same prices for months. :fawk:

sr20alex
09-11-2008, 09:10 PM
Its 3.95 for 91 for me gas has been going down slowly like 2 cents a week or 2. Please dont go up..

Future240
09-11-2008, 09:11 PM
Damn left you beat me to it, I just topped off my tank

Taj
09-11-2008, 09:12 PM
shit again i am about to get a hose and a canister and go for a walk if you know wat i mean lol

SlideWell
09-11-2008, 09:37 PM
what a pis-poor excuse to even think about raising fuel prices. its not like the hurricane is blowing oil out of their hands.

ESmorz
09-11-2008, 09:38 PM
I'm just going to siphon out of my Corolla for awhile since I can't drive it anyways lol

BustedS13
09-11-2008, 09:58 PM
GO FILL YOUR TANK UP ASAP GAS IS GOING TO JUMP IN PRICE TO $5.00 BY MIDNIGHT DUE TO HURRICANE IKE

Last Updated: September 11, 2008: 2:29 PM EDT

http://i250.photobucket.com/albums/gg246/rborroel21/map_tropprjpath09_ltst_5nhato_enus_.jpg

god dammit. it was all sprinkly and cold for a couple days when Gustav fucking hit, we got the edge of it here in STL. and now we're going to get this goddamn thing too.

oh, and i filled up earlier this week for 3.28, and today i noticed gas was like 3.75. grrrrr

Matej
09-11-2008, 10:04 PM
Today I got gas for 3.26$. Although I noticed it jumped up to about 3.50$ just a couple hours later.

gripstr
09-11-2008, 10:08 PM
They should have put a price ceiling on gas back in like.......the 70's haha!

blasting_speed
09-11-2008, 10:19 PM
Gas is just going up in price for them???

majuljo
09-11-2008, 10:22 PM
i just filled up my tank a couple days ago shit!!! well at least i barely drive my car and for some reason when i calculate my MPG i get 93 MPG with an rb25det lol. somethings wrong but i have a r33 cluster so its in Km and at a quarter of a tank i already had 1600km you do the conversion.

codunc
09-11-2008, 10:29 PM
gas just went from 3.59 to 5.18 a gallon here. sucks balls.

ESmorz
09-11-2008, 10:31 PM
i just filled up my tank a couple days ago shit!!! well at least i barely drive my car and for some reason when i calculate my MPG i get 93 MPG with an rb25det lol. somethings wrong but i have a r33 cluster so its in Km and at a quarter of a tank i already had 1600km you do the conversion.

http://msp4.photobucket.com/albums/y134/trodas/what_the_fuck.jpg

SW20Racer
09-11-2008, 10:41 PM
dude the jet pep's and raceway's around here have been keeping gas @ a consistent sub $3.60 even when gustav was supposed to be a badass.

SlideWell
09-11-2008, 10:43 PM
why cant the ceo's and head guys of oil companies be marked and taken care of proper :rl:

Flicktitty
09-11-2008, 10:44 PM
gas just went from 3.59 to 5.18 a gallon here. sucks balls.
is that a F'n Joke?:ugh:

90hatchie
09-11-2008, 11:05 PM
went by gas station in town little while ago
actually went down 3 cents

VQMaxFan
09-11-2008, 11:09 PM
Wow allot of VERY intelligent responses in here.

Thats what happens when oil production in the gulf has been shut down for almost 3 weeks now. Who knows how much longer they will be offline. Also it doesnt help when people go out and in a panic horde as much gasoline as they can. IE, before a storm is about to hit gustav and now ike.

Telling people to go out and fill up NOW wont help anything.

SlideWell
09-11-2008, 11:10 PM
lol yeah, take the bus, save your passes, ride for free cuz it doesnt pay its way anyhow and should be free. ive been riding the bus since 05'

ZenkiGTS
09-11-2008, 11:14 PM
gas is still koool in the bay area it actually went down today or yesterday 4 cents... we pay 3.79 for 87 the cheapest i found so far.... iono it might hike...

mrmephistopheles
09-12-2008, 01:05 AM
None of this fearmongering crap.

It doesn't take a hurricane for gas prices to go up.