Do you have a TL-S? Then get ready $$$$$
#1
Pro
Thread Starter
Do you have a TL-S? Then get ready $$$$$
Gas station owner told me that gas is DEFINITELY going up to nearly $5 a gallon for regular by summer so that means SUPER will be OVER $5!! It's gonna cost me nearly $70 to fill my TLS up!
I'll think twice before I buy another vehicle which requires super. Time to ride my Triumph Thunderbird more.
I'll think twice before I buy another vehicle which requires super. Time to ride my Triumph Thunderbird more.
#4
MechEng
iTrader: (9)
would a gas station owner really know this information for sure?
i feel like gas prices this summer depend more on the unrest in the Middle East and if it escalates further.
also $5 a gallon is a bargain compared to the $10 a gallon they pay in the UK.
i feel like gas prices this summer depend more on the unrest in the Middle East and if it escalates further.
also $5 a gallon is a bargain compared to the $10 a gallon they pay in the UK.
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#9
Instructor
I highly doubt we will hit $5/gal. The US has fuel reserves stored that we can access in case prices get too high. I think we'll start tapping those pretty soon.
#10
#13
Gas is cyclical, like A/C is during the summer versus the winter.
It will spike, and then fall. While it's on the rise, demand will drop as people seek alternative forms of travel, thus forcing the price back down.
There's no shortage of oil. Don't let anyone lie to you. Yes, it's a limited natural resource, and we are using a lot of it, but this planet has far larger stores. Also, just so you know, diamonds are the most abundant mineral on the planet, they're only insanely expensive because one conglomerate owns them all.
It will spike, and then fall. While it's on the rise, demand will drop as people seek alternative forms of travel, thus forcing the price back down.
There's no shortage of oil. Don't let anyone lie to you. Yes, it's a limited natural resource, and we are using a lot of it, but this planet has far larger stores. Also, just so you know, diamonds are the most abundant mineral on the planet, they're only insanely expensive because one conglomerate owns them all.
#16
you guys whine too much! Here in Canada I usually just hit the $75 prepay option on the machine and that is no longer enough to fill my tank. Regular has jumped to $1.29,5per liter. thats about $1.47.9 for Super. Its killing me slowly
#17
Suzuka Master
I just scoot across the line to Wa. state where its $1.01L Can for reg.
#18
Moderator
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They say this shit every year. Nothing new.
#22
#23
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Gas station owner told me that gas is DEFINITELY going up to nearly $5 a gallon for regular by summer so that means SUPER will be OVER $5!! It's gonna cost me nearly $70 to fill my TLS up!
I'll think twice before I buy another vehicle which requires super. Time to ride my Triumph Thunderbird more.
I'll think twice before I buy another vehicle which requires super. Time to ride my Triumph Thunderbird more.
Sorry to burst your bubble, but it doesn't work that way (at least not that I've seen).
When gas is "cheap" 91/93 Premium costs ~$0.15 or $0.20 more per gallon - thats about $3 per tank full.
Then, when gas is "expensive", it still only costs ~$0.15 or $0.20 more per gallon. And that's still only a few bucks per tank full. (Technically it's cheaper - percentage wise - to run premium when gas is "expensive").
You want to save gas money, buy a 40 MPG car, not a 25 MPG car that runs on regular.
#24
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No.
Lets look at what people are paying TODAY for Gasoline over the summer, shall we?
May Futures: $3.17 per gallon
June Futures: $3.15 per gallon
July Futures: $3.13 per gallon
August Futures: $3.11 per gallon.
That tells me that no MAJOR spike is expected over the next couple of months.
http://futures.tradingcharts.com/marketquotes/HU.html
Lets look at what people are paying TODAY for Gasoline over the summer, shall we?
May Futures: $3.17 per gallon
June Futures: $3.15 per gallon
July Futures: $3.13 per gallon
August Futures: $3.11 per gallon.
That tells me that no MAJOR spike is expected over the next couple of months.
http://futures.tradingcharts.com/marketquotes/HU.html
#25
I watched some shit on the news, and the gas prices are high now because of "speculation".....a bunch of "what ifs".....nothing to do with unrest in the middle east (libya supplies 2% of the worlds oil and are something like #12 on the list of exporting countries)or supply and demand. There is more supply than there is demand right now....oh..and I just think big oil tycoons are too greedy.
remember when oil hit 5 a gallon a few years ago?? IIRC it was mobil-exxon that posted their biggest PROFIT ever!
remember when oil hit 5 a gallon a few years ago?? IIRC it was mobil-exxon that posted their biggest PROFIT ever!
#29
Drifting
No.
Lets look at what people are paying TODAY for Gasoline over the summer, shall we?
May Futures: $3.17 per gallon
June Futures: $3.15 per gallon
July Futures: $3.13 per gallon
August Futures: $3.11 per gallon.
That tells me that no MAJOR spike is expected over the next couple of months.
http://futures.tradingcharts.com/marketquotes/HU.html
Lets look at what people are paying TODAY for Gasoline over the summer, shall we?
May Futures: $3.17 per gallon
June Futures: $3.15 per gallon
July Futures: $3.13 per gallon
August Futures: $3.11 per gallon.
That tells me that no MAJOR spike is expected over the next couple of months.
http://futures.tradingcharts.com/marketquotes/HU.html
those futures can go up 5% or down 5% in a day just depends on the news being fed in from the middle east.... just cuz it says August futures are $3.11 means nothing that just means what it is as of "right now"
#30
Drifting
I watched some shit on the news, and the gas prices are high now because of "speculation".....a bunch of "what ifs".....nothing to do with unrest in the middle east (libya supplies 2% of the worlds oil and are something like #12 on the list of exporting countries)or supply and demand. There is more supply than there is demand right now....oh..and I just think big oil tycoons are too greedy.
remember when oil hit 5 a gallon a few years ago?? IIRC it was mobil-exxon that posted their biggest PROFIT ever!
remember when oil hit 5 a gallon a few years ago?? IIRC it was mobil-exxon that posted their biggest PROFIT ever!
its all BS
#32
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Three dollars per tank to have a car with some oomph? Sounds worth it to me, regardless of how much gas costs. I'll drive a Prius when I'm old and am too senile to remember how much fun it is to take corners at the limit of adhesion.
#33
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Guys, any way you look at this, the price of fuel is just too damn high anyway. I've been told my many that petroleum experts want the US to catch up with oil price around the world (around $5.00/gallon). It sucks-the price of petroleum should be about $60 anyway (instead of $108/gallon now).
2011 National AcuraZine Meet-Kansas City-June 12, 2011-Details Here!
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2011 National AcuraZine Meet-Kansas City-June 12, 2011-Details Here!
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#34
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um this really tells us nothing cuz gas futures are traded daily on the market meaning they fluctuate all the time!
those futures can go up 5% or down 5% in a day just depends on the news being fed in from the middle east.... just cuz it says August futures are $3.11 means nothing that just means what it is as of "right now"
those futures can go up 5% or down 5% in a day just depends on the news being fed in from the middle east.... just cuz it says August futures are $3.11 means nothing that just means what it is as of "right now"
The options are perhaps a bit more telling with some options buyers hedging in the $3.50 - $4.00 range.
But there is nothing much above that. Which means even those that think price will go up quite a lot, don't expect to pay more than about $3.75 - $4.00 in June, July and August.
Even with excise tax in most states, that won't reach $5, let alone over $5.
#35
Drifting
^ just look back at gas futures cost back a month or two ago it was $2.25 gallon at the market whole sale price so u mean to tell me just because it says $3.11 now that it can't go up much?
how do you explain gas going from $2.25 at the market 1-2 months ago to now $3.16 at the futures market??
obviously it can go up and its all determined on the news media supplies us with... market players use this news to either buy or sell ...
yes i agree as of "today" the market sees gas stabilizing at this new price range of low $3's but that means nothing for tomorrow... if all the sudden civil war broke out in Saudi you would see oil and gas skyrocket so that just disproves your futures analogy
i watch the market every day and have a trading account so i see the fluctuations
how do you explain gas going from $2.25 at the market 1-2 months ago to now $3.16 at the futures market??
obviously it can go up and its all determined on the news media supplies us with... market players use this news to either buy or sell ...
yes i agree as of "today" the market sees gas stabilizing at this new price range of low $3's but that means nothing for tomorrow... if all the sudden civil war broke out in Saudi you would see oil and gas skyrocket so that just disproves your futures analogy
i watch the market every day and have a trading account so i see the fluctuations
#37
Moderator
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so sad about the gas price increase....i gotta drive a lot cuz i need to go to school which is about 9 miles away everyday, and back and forth from riverside to LA every weekend... :/
#38
Drifting
i drive 25 miles each way to work so at least 50 miles a day then i always drive when me and the girl go out and then when i have to go look at projects for work i have to drive to see those needless to say i have 80K miles on my car already
#40
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^ just look back at gas futures cost back a month or two ago it was $2.25 gallon at the market whole sale price so u mean to tell me just because it says $3.11 now that it can't go up much?
how do you explain gas going from $2.25 at the market 1-2 months ago to now $3.16 at the futures market??
obviously it can go up and its all determined on the news media supplies us with... market players use this news to either buy or sell ...
yes i agree as of "today" the market sees gas stabilizing at this new price range of low $3's but that means nothing for tomorrow... if all the sudden civil war broke out in Saudi you would see oil and gas skyrocket so that just disproves your futures analogy
i watch the market every day and have a trading account so i see the fluctuations
how do you explain gas going from $2.25 at the market 1-2 months ago to now $3.16 at the futures market??
obviously it can go up and its all determined on the news media supplies us with... market players use this news to either buy or sell ...
yes i agree as of "today" the market sees gas stabilizing at this new price range of low $3's but that means nothing for tomorrow... if all the sudden civil war broke out in Saudi you would see oil and gas skyrocket so that just disproves your futures analogy
i watch the market every day and have a trading account so i see the fluctuations
The market does not account for UNEXPECTED events: the destruction of a major refinery, for example, or a major disruption in oil supply.
You also need to keep in mind that much of the oil that will make gasoline for the next couple of months is enroute. It's already extracted and sold. So that price and expected supply need is stable (assuming demand forecasts are close).
IOW - there is currently an expectation that supply is stable over the short-term.
Could that change significantly? Yes. As of today, is it expected to change significantly? No.
So, if supply is not expected to change siginificantly over the next couple of months, how does the station owner in the OP "know for sure" that prices will hit $5+?