Anyone else see gas prices INCREASE since the recent drop in oil prices?

[intheflow]

We've shot up 10-15¢ here in Denver. :thumbsdown:

[rdking647]

1. current gas is being made with oil purchased at high levels

gas prices will drop in the next week-10 days

[hobbit709]

3. Then why the overnight increase at the pump when future delivery of oil rises?

[Fumesucker]

4. Because shut up, that's why..

:hi:

[intheflow]

24. +1

[bobbolink]

30. You got that right.

[Roadie70]

31. LOL.. nailed it.

[F Bastiat]

6. Because it will cost them more the next time they refill their storage tanks.

[hobbit709]

11. so. Then they can pass that cost on.

Funny how their profit margin greatly increases every time.

[Donnachaidh]

13. funny how we are supposed to guarantee them the same or better profit all the time

Of course, when it comes to worker wages we're told to *suck up and deal* with rising costs and stagnant wages.

[F Bastiat]

16. It the cost to fill the storage tank rises from $20,000 to $25,000,

how will the station operator pay the additional $5,000 if he does not raise his prices?

[hobbit709]

17. What do you think pass the cost on means?

Oil prices are based on 60-90 day future delivery. That's not even counting refining time and delivery to the pump. so why does it go up at the pump the next day. and when oil prices drop it takes 3-6 weeks to drop the same amount at the pump. And every time the oil companies post record profits even though they sell less because people can't afford to buy. Obviously their profit margin has increased. Just because oil prices have jumped up the actual cost of shipping and refining hasn't.

[F Bastiat]

18. The cost cannot be passed on until the product is sold.

The bill to fill the tank is due when the tank is filled.

[Hutzpa]

20. BS

why is the cost of oil past on immediately once the price increases?

[hobbit709]

21. Most businesses operate on net 30 payment.

but if you want to support the price gouging by the big boys, go right ahead.

[F Bastiat]

28. I didn't realize that the gas station operator down the street was one of the "big boys."

I would have expected him to project a more affluent lifestyle. Thanks for setting me straight.

[hobbit709]

34. He's not. He has to pay what the big boys charge and THAT is where the problem lies.

[Amonester]

26. Because they can?

That's why.

[Aerows]

5. When oil prices go up...

...gas prices immediately go up. When oil prices go down...gas prices don't go down.

[spin]

22. My daughter mentioned this yesterday. (n/t)

[intheflow]

25. The day after the drop there were a bunch of DU posts about how their gas prices dropped

overnight. I've been waiting patiently and the reverse has happened here. I'd like to know where those posters live, and if those lower prices have been sustained.

[Aerows]

29. Because it's bs

That's why you aren't seeing it happen at your gas station.

[Donnachaidh]

2. yup. my asshole Governor did nothing to stop tax increases in GA

So while everyone else is seeing drops - we went up. :shrug:

[F Bastiat]

9. Some people think tax increases are a good thing.

[Donnachaidh]

12. everyone BUT the ones who can most afford it -- like the wealthy

A gasoline tax hits the poor and working class THAT much harder. But this very same asshole wants to give tax breaks to wealthy people and corporations.

[F Bastiat]

14. Well, I suppose a case can be made for raising taxes on the wealthy,

but taxes are nothing more than the cost of doing business for corporations.

A quick review of the accounting reports of any business will reveal that taxes are categorized as direct costs. Thus, higher taxes on corporations results in higher costs for the consumer.

Regrettably, many people lack the understanding of basic accounting procedures.

[Donnachaidh]

15. yes, let's go into corporate speak to marginalize the hit these taxes have on the poor

After all, in the *real world* of corporations they don't matter if they can't afford to buy the product, right?

Some people wander on to the wrong boards evidently. :eyes:

[F Bastiat]

19. Corporate speak...?

I don't know what corporations you are referring to, but the business people I am associated with are very much aware of how much their customers "matter."

[RebelOne]

33. I live in Georgia, also.

Maybe the Republicans who voted for him will think twice about it now.

[scarletwoman]

7. Yes. Last Sunday I paid $3.94/gallon, Thursday it was $3.99 at the same station.

Maddening!

[elocs]

8. Friday the 6th the price dropped a dime, during the week then went up 16 cents,

and has since backed off down to where it was on the 6th (3.89).

[Diana Prince]

10. Here In Colorado Springs...

gas at the station across the street went down a penny for a day and a half, then it shot up 6 cents to $3.73. I know we have low prices compared to other parts of the country but it is still hard to pay that much when you live at or below poverty level.

[intheflow]

23. Yeah, I know compared to elsewhere in the country we do have cheaper gas,

but as you say, when you're poor, every increase hurts. And I'm poor!

[Hutzpa]

27. IMO this is all a game being played by the oil industry

their explanation or logic does not make any sense, they can't explain why gas prices increases
the moment oil prices goes up but it takes 6 weeks to reduce the price of gas once oil prices
dropped. The oil companies have created a cartel in Wall St, they have LAWYERS set up that
allows them to manipulate the system.

I used to work for an oil company that has it's head quarter in New York next to wall street, they
go the whole nine yards with insider trading and it's done in such a way that made me
wonder whether the Feds are not involved.

This is the biggest scam going, funny how all the investigation is not targeting the oil industry.

Think about that.

[RB TexLa]

32. Did anybody notice the Mississippi river is about to be shut down in Louisiana?

Of course that would have no effect. :banghead:

[intheflow]

35. Gas dropped 6 cents overnight!

Is Safeway reading DU? :rofl: