Down very slightly today -- $4.09 and $5.25 for regular and diesel, respectively.

I paid $4.79 for PREMIUM yesterday AM at my preferred top-tier station.

Odd that with these huge price spikes, the gap between Regular and Premium has narrowed.

Last June, I saw about a 16-17% premium for diesel over regular (2.73 vs 3.19).

By November , that had risen to 25%. December 15 brought a 35% difference (2.51 / 3.39).

The strikes in Iran took place in late February; my chart shows a 24% difference (2.65 / 3.29).

The difference peaks in mid-march on my chart, at 46% (3.27 / 4.79).

Today, the difference is 28%, given 4.09 and 5.25.

(Not sure why my trend lines have disappeared...)

So, there is zero shortage of oil worldwide right, we have no lines at gas stations, no rationing anywhere, everyone that runs on oil and gas are getting what they need.

Since Iran can't get oil out they are stockpiling it in storage tanks and maybe not able to pump it.

Since demand is constant and supply sufficient, then the market should be steady on prices, in fact prices should be coming down.

who's driving the spikes, speculators of course, buying up oil futures and keeping the price high. JMO the DOJ needs to be investigating these people at least those in the US, wonder if China is buying up oil futures and driving the price up to spike fuel costs in the USA and world.

Base economics principles of supply and demand should result in better prices, a return to normal levels. There are a lot of external forces driving up the cost.

Running some errands yesterday and glanced at the gas station here in the SF Bay Area.

$6.79 for regular and $7.19 for premium.

I'm in the northern part of the SF Bay Area, I've got four Costco's within 30-minutes of each other, their regular prices as of yesterday:

$5.79
$5.95
$5.65
$5.79

Outside of Costco, prices at stations are anywhere from $.20-1.00 more expensive

I was in Lisbon Portugal last week.

Regular 87ish was $2.10 liter. That's around $8 a gallon in Euro's or $10 gallon US.

$3.98 northern IN as of Friday. Not all stations at this price, most were $4.09. Didn’t check it today as we stayed home.

quote:

Originally posted by HRK:
There are a lot of external forces driving up the cost.

It’s because the oil companies have gotten away with it for so long there is no down side to gouging the American people.

Early in the Iran war thread, the simple nose on your face economics were discussed. It was also stated that if you dared to question the claim that this wasn’t the oil companies fault, you were just too angry to comprehend that the oil companies are the real victims here.

Despite anyone else seeing it plain as day. And if it’s not the speculators, why resort to the same tactics the left uses by claiming that those who question you are angry, or unstable to comprehend.

The last couple weeks of last month gas dropped a few cents here and there locally. Then it jumped .35 cents over night. In the last couple of weeks it goes down a nickel, then jumps a dime. When you look at the oil prices it crushes the “replacement cost” lie.

When will it stop? It won’t. They know we have to have it to survive and they know that no one is going to jail for what they are doing.

They just keep repeating that somehow you aren’t patriotic if you question it and it’s just “temporary pain”

quote:

Originally posted by HRK:
So, there is zero shortage of oil worldwide right, we have no lines at gas stations, no rationing anywhere, everyone that runs on oil and gas are getting what they need.

If there is no shortage, why did the US release strategic reserves? Why is there a shortage of some motor oils? They know what is going to happen when the shortage actually hits so they are trying to mitigate it. They know if gas prices rise a couple dollars a gallon it will be a landslide win for the Dems in mid terms.

I have yet to see a rational or believable explanation as to why a 20 percent reduction in world oil supply from the disruption at the Strait of Hormuz has led to a 50 percent or greater increase in gas prices in the US. I might not expect it to be 1-to-1, at least initially, but it seems more like speculation and market/price manipulation than a pure supply/demand issue.

I drove back to Missouri from Tennessee today...
Prices were slightly down. I was able to buy regular (87) gas for under $4/gallon.

$3.65 at Sam's in Denham Springs, LA

Hanging tight for the last week or so, at $4.17/$5.25 for regular/diesel, respectively.

Diesel on the way back from MI:
$5.50 Atlanta, MI - most places in MI we passed were well over $6

$4.73 at Speedway close to Cincinati
$4.73 Buc-ee’s in Northern Georgia
$4.53 at WaWa exit 22 Valdosta, GA

And yes, with a 37 gallon tank, I plan my stops to save $1 a gallon. Most diesel locations in OH, KY, TN, GA, and FL were $5.70 or higher.

This message has been edited. Last edited by: trapper189,

3.759 at Costco in Memphis today.

5/13 I filled up for $3.99.

Today, I filled up for $3.65.

Down a tick this morning... $4.15/$5.19 for reg/diesel.

Gasbuddy shows $3.66 to $3.79 for regular at various stations near me this morning.