GAS PRICE`s are going up I heard it this morning,...

[Drew_CarreyAB]

Just my 0.02 from Canada's only border city. Whomever can do the conversion for me.........98.9cents/liter for 87octane. So even up here in the boonies gas sux(especially when my Bronco has a 125Liter tank )

[Hawkeye6]

Drew:

Just multiply it by 4. That will be close enough. Of course, that would be in Canadian Dollars.

Here in the States, I think prices (especiallyfor gas) are generally higher in the "boonies" than in certain other areas. Has to do with transportation and lack of ocmpetition I'dd guess.

H.

[fabsroman]

Hawkeye,

You should see how much gas is in Bethesda, Maryland. It is $3.00 a gallon for regular because it is the high rent district. By my parents it is $2.61 for regular and by me it is $2.41 for regular. I guess I am the lucky one. Diesel by my is $2.55 probably because the station is right next to I-270. However, at my parents diesel is $2.45.

What I do not understand is how there is no competition between Middle East oil companies or the gas stations in the US. Or is it just that oil costs that much.

I kind of understand the inelastic demand curve, but isn't competition supposed to have a little impact on it. Also, even if demand is inelastic, there is always supply side.

[Wolvie]

UPSATE NY UPDATE: $ 2.73 a gal for 87 Octane

The upward trend is still in an upward motion.

As for hybrid,The fight for gas and oil now in the middle east ,..will probly go to fighting with Japan because of electronic parts and etc.

America needs to have their own techno stuff going on,...so that way we dont have to depand on other countries.

That`s just me talkin`

Later All
SAFE HUNTIN~

[myEspringr]

Word here is 3.00 by the end of the weekend. I don't know if i believe it. 2.49 right now that would be a pretty big leap.

[Hawkeye6]

Originally posted by fabsroman

I kind of understand the inelastic demand curve, but isn't competition supposed to have a little impact on it. Also, even if demand is inelastic, there is always supply side.

I am not an economist and I did not stay in a Holiday Inn Express last night, but I think the point is that where demand is inelastic, there is little incentive to engage in price competition. If you can sell all of a product that it is possible for you to sell at a given price, what is the incentive for you to lower your price?

Once gas prices reach the point that people change their behavior, them we will see some marginal price competiton.

Part of the reason for the higer gas prices is also refinery capacity. As I understand it our refinerys are pretty well oeprating their maximum capacity. Add to that the fact that we have not built any new refineries in some period of time. And BP just had one go offline recently down in Texas (it blew up). I think what you are seeing is a more restircted supply than usual.

It will be interesting to see what happnes over the next three weeks. Prices will probably continue to go up through Labor Day. Then we may see prices level off or decrease.

[Hawkeye6]

Originally posted by Wolvie
UPSATE NY UPDATE: $ 2.73 a gal for 87 Octane

The upward trend is still in an upward motion.

As for hybrid,The fight for gas and oil now in the middle east ,..will probly go to fighting with Japan because of electronic parts and etc.

America needs to have their own techno stuff going on,...so that way we dont have to depand on other countries.

That`s just me talkin`

Later All
SAFE HUNTIN~

Wolvie:

I have absolutely no idea what you are trying to say. Other than what you say the current gas prices are.

Later.

[fabsroman]

Hawkeye,

That post about the inelastic demand curve makes sense. Now I understand why there is no competition on gas prices and I didn't stay at any hotel last night either.

[Hawkeye6]

Fabs:

I saw a litttle example of how there is some price competiton last night.

Yesterday our gas prices moved up from around 2.54 or 2.58 to 2.69. But not every station made the move to 2.69. When I was driving around yesterday evening, the the stations with the lowest price were pretty busy. the ones that ahd moved part way had a few cars, bu the ones at 2.69 were very quiet.

I predict that by this morning everyone will be at the same price around here.

One reason that price competition isn't that big a deal right now is that even with my Suburban, the ten-cent spread that I sometimes see when the prices jump did not have much impact. Even if the tank was pretty much empty, the difference was only $4, but since I usually tried to keep it realtively full, the impact was usually much less. And the price competitiion is too shortlived to have much effect. Usually only a few hours or a day at the most.

Hawkeye

[Wolvie]

I was tryin to say that with the hybrid cars ,Japan is the leader in the computer and electronic fields and as the middle east basically has the the market on oil,..and we are depending on the middle east for oil,..and now with the hybrid cars coming out ,what will be next? Depending on Japan (another foreign country),for our lifestyle.

Thats why i was sayin we need to have our own and stop depending on other countries.
And I am not ranting or gettin upset or whinning,..just making an observation.

Later All
SAFE HUNTIN~

[Wolvie]

Saw over the weekend an article that said something about $3.00 a gal ,...Nationwide.

Not sure what is was al about,...but I plan to research it today and see what I can come up with.

A guy was walking down the street and I saw the front page of his paper,..it looked to be The NY Post. but not sure yet.

Later All
SAFE HUNTIN~

[M.T. Pockets]

I don't like the prices any more than anybody else, I hear people say that "somebody has to do something" about the high prices. I remember the oil embargo days of the 70's and somebody did try to do something and it went over like passing gas in church. I'm 40 and I can remember this from my youth.

- Lower the speed limit to 55 on all highways (including interstate highways), and enforcing it.

- Lower the thermastats to 65 degrees.

- Extend daylight savings time all winter long.

- Turn off lights inside public buildings except for emergency lighting. (I remember dark hallways in school)

- No Christmas lights.

- The President talking on TV and personally telling America to stay home if you don't have a good reason to drive somewhere.

- Cutting school sports because there's no money to pay for bus fuel.

-Tax credits promoting alternate energy, such as solar power.

-People building smaller houses so they'd cost less to heat.

-People shopping for cars based on fuel efficiency, then bragging about getting 30 or more mpg.

-Kids riding the bus to school instead of driving.

I could go on....but it's going to hurt some more before it gets any better.

[rubicon]

I remember sitting in line at the gas station in the 70"s waiting my turn and hoping the station didnt run out before I got my 10 gallons which was all I could get at a time so that I could get to work. I also remember people asking why not a bushel of wheat for a barrell of oil ?

[fabsroman]

I was a lot younger back then, but I do remember my dad buying a 1976 fiat piece of crapola that got 30+ mpg and I remember him having 10 gallon metal cans of gas filled up in the tool shed. He would take the behemoth Pontiac to the station on the days he was allowed, fill it up, siphon it out into those 10 gallons tanks, and then use it in the Fiat when he had to.

I definitely do not want to go through that because my truck is diesel which would put me at a disadvantage (i.e., cannot fill up the 40 gallon tank and use it in my cars), unless I bought a diesel car.

[Wolvie]

Well it has happened,..$3.00 a gal in NY

And it is rumored that it will be a nationwide price set at $3.00 a gal for the 87 octane.

This is what I heard,not what i know for sure , except for the $3.00 a gal somewhere here in NY.

It was on CNN and I guess there`s going to be a report on ABC nightly news tonight 8.17.05 Weds.


Later All
SAFE HUNTIN~