Gas Prices

[Redondo]

Gas going up here about 30 cents. 

With Biden closing the pipeline it will continue to go up. 

[T.G.]

$2.94 at Costco today... it definitely has gone up.

[Redondo]

Gas up 70 cents a gallon since good old Joe did his thing

I'm sure it will keep going up.

[Redondo]

Gas prices soaring and could go even higher by spring: Analyst

GasBuddy analyst Patrick DeHaan argued on Monday that the price at the pump is soaring due to increased demand coupled with the fact that the Organization of the Petroleum Exporting Countries (OPEC) “is not opening the spigot.”

DeHaan was referencing the fact that last week, OPEC leaders and their allies agreed to maintain production cuts for all countries except Russia and Khazakstan. The news caused West Texas Intermediate crude oil, the U.S. benchmark, to spike.

DeHaan provided the insight on “Mornings with Maria” on Monday, adding that he believes gas prices could increase even more by the spring.

He noted that “U.S. oil production is still over 2 million barrels lower than last year” and that “OPEC is continuing its production cuts, not increases.”

“Just in the last week alone after OPEC announced those extensions to the cuts, oil prices jumped another 12%,” he added.

 

That's what happens when you have to rely on other countries for your fuel.

They control the market.

[Taylor]

10 hours ago, Redondo said:

Gas up 70 cents a gallon since good old Joe did his thing

I'm sure it will keep going up.

What thing did Joe do?

[Taylor]

Quote

Are gas prices higher than they’ve been “in years”?

No. Today’s prices are the highest they’ve been in about 18 months.

Gas prices were similar to or higher than their current level for much of the time between October 2017 and January 2020 — that is, more than two years of Trump’s presidency. Prices were higher than today for all of the time between March 2018 and November 2018, and all of the time between April 2019 and August 2019.

 

Any price impact from the pipeline decision, or from other Biden policies to limit fossil fuels, would be “years down the road,” said Patrick De Haan, head of petroleum analysis at GasBuddy, a website that tracks gas prices.

In addition, most of the oil to be carried by the Keystone XL pipeline would have been exported, meaning U.S. customers should see little direct effect on prices.

Experts said it was conceivable that Biden’s policies could eventually affect gas prices. But any impact wouldn’t be detectable in the recent gas price changes.

https://www.tampabay.com/news/nation-world/2021/03/03/are-gas-prices-going-up-and-is-it-joe-bidens-fault-politifact-explains/

 

F'ing Biden

[Lou]

[Redondo]

Excuses for higher prices come easy to the gas companies. 

I don't believe for a second that what Joe did isn't affecting the price increase.

[Tank]

I haven’t bought gas since December.

[T.G.]

3 hours ago, Tank said:

I haven’t bought gas since December.

but you've made plenty eating all those veggies.

[Tank]

9 hours ago, True Grich said:

but you've made plenty eating all those veggies.

there are days it's like a refinery in my house.

 

fortunately, it only happens on days that end in "Y".

[Slegnaac]

Probably a good time to own stock in Chevron or ExxonMobil. 

[Taylor]

13 hours ago, Tank said:

I haven’t bought gas since December.

I thought I saw one of these driving around Glendale the other day.

[Tank]

2 hours ago, Taylor said:

I thought I saw one of these driving around Glendale the other day.

we've taken a liking to Sad Arnold.

[gotbeer]

Yay!

We May Face A Gas Shortage This Summer

[Slegnaac]

Remember the old days when gas was just $3 a gallon?

[gotbeer]

Colonial Pipeline, the Largest Fuel Pipeline in the U.S., Has Shut Down Over a Ransomware Attack

That's not going to end well for everyone.

[Redondo]

FBI names cyberattackers who shut down Colonial Pipeline as gas prices jump

 

A senior Department of Justice source told FOX Business that the investigation into the attack is ongoing due to the involvement of ransomware, labeling the sophistication of the tools involved "very high." 

Darkside announced its existence in August 2020, and claims it does not attack medical, educational or government targets – only large corporations – and that it donates a portion of what it takes to charity.

The group will harvest data from a victim’s server, then encrypt it and request a ransom. The group then will upload the data to a leak website on the dark web, which will publish should it not receive the ransom, risking sensitive data loss for any victim organization. 

Darkside has advertised stolen documents from more than 80 companies across the U.S. and Europe on its website. 

Colonial Pipeline, in a statement Monday, said they are dedicating resources to "restoring pipeline operations quickly and safely." 

"Segments of our pipeline are being brought back online in a stepwise fashion, in compliance with relevant federal regulations and in close consultation with the Department of Energy, which is leading and coordinating the Federal Government’s response," the company said.

[RallyMo]

On 3/8/2021 at 9:48 PM, Tank said:

I haven’t bought gas since December.

I haven't since September. I like it.

[Tank]

5 hours ago, lolok said:

I haven't since September. I like it.

i've had to buy gas a couple of times since i posted that, but it's still so greatly reduced from 14 months ago.

[Redondo]

AAA on pipeline attack: gas price hikes, fuel shortages possible for these states

The national average for gas prices jumped 6 cents on the week to $2.96 and is poised to rise even higher in some areas due to Friday's cyberattack against Colonial Pipeline Co., according to the American Automobile Association. 

The pipeline transports more than 100 million gallons a day, or roughly 45% of fuel consumed on the East Coast, according to the company's website. It delivers gasoline, diesel, jet fuel and heating oil and serves U.S. military facilities.

"This shutdown will have implications on both gasoline supply and prices, but the impact will vary regionally," AAA spokesperson Jeanette McGee said in a statement. "Areas including Mississippi, Tennessee and the East Coast from Georgia into Delaware are most likely to experience limited fuel availability and price increases, as early as this week. These states may see prices increase 3 to 7 cents this week."

An increase of three more cents would make the national average the most expensive since November 2014, when average gas prices were $2.99 and higher. 

According to AAA, the nation's top 10 largest weekly increases were in Michigan (up 15 cents), Kentucky (12 cents), Florida (10 cents), Delaware (10 cents), Indiana (10 cents), West Virginia (9 cents), Utah (9 cents), Texas (9 cents), New Jersey (8 cents) and Pennsylvania (7 cents). 

[RallyMo]

6 hours ago, Tank said:

i've had to buy gas a couple of times since i posted that, but it's still so greatly reduced from 14 months ago.

Oh.

I am driving an EV.

I have to drive to work as much or more than before.

I still like not having to go to the gas station.

I can't wait for teleportation. It will be very convenient.

[Jason]

10 minutes ago, lolok said:

Oh.

I am driving an EV.

I have to drive to work as much or more than before.

I still like not having to go to the gas station.

I can't wait for teleportation. It will be very convenient.

That’s pretty cool. I’d like to see what an average car costs, fuel/oil wise, over its life span. I’m willing to bet the purchase price of a Tesla is significantly less than what the costs to buy, drive and maintain a combustion engine car is. 

Edited May 11, 2021 by Toby Flenderson

[gotbeer]

2 hours ago, lolok said:

Oh.

I am driving an EV.

I have to drive to work as much or more than before.

I still like not having to go to the gas station.

I can't wait for teleportation. It will be very convenient.

 

[gotbeer]

3 hours ago, Redondo said:

AAA on pipeline attack: gas price hikes, fuel shortages possible for these states

The national average for gas prices jumped 6 cents on the week to $2.96 and is poised to rise even higher in some areas due to Friday's cyberattack against Colonial Pipeline Co., according to the American Automobile Association. 

The pipeline transports more than 100 million gallons a day, or roughly 45% of fuel consumed on the East Coast, according to the company's website. It delivers gasoline, diesel, jet fuel and heating oil and serves U.S. military facilities.

"This shutdown will have implications on both gasoline supply and prices, but the impact will vary regionally," AAA spokesperson Jeanette McGee said in a statement. "Areas including Mississippi, Tennessee and the East Coast from Georgia into Delaware are most likely to experience limited fuel availability and price increases, as early as this week. These states may see prices increase 3 to 7 cents this week."

An increase of three more cents would make the national average the most expensive since November 2014, when average gas prices were $2.99 and higher. 

According to AAA, the nation's top 10 largest weekly increases were in Michigan (up 15 cents), Kentucky (12 cents), Florida (10 cents), Delaware (10 cents), Indiana (10 cents), West Virginia (9 cents), Utah (9 cents), Texas (9 cents), New Jersey (8 cents) and Pennsylvania (7 cents). 

 

What they don't account for is the trickle down effect.  If gas is more expensive in one part of the country, then the other part will divert gas to that area to make the profit.  Then the parts unaffected will go up in price, because there is a shortage of gas since it was diverted away.  

You see that especially in Calolfornia.  If one or two refineries go down, gas prices will shoot up.  Then those refineries from out of state will start making the Calolfornia blend to take advantage of the sky high prices.  It's not that out of state refineries can't make Calolfornia blends.  It's that it's not profitable to make a niche Calolfornia blend, when you can make a blend for the other 49 states and still make money.