Gas prices

[Gordie]

I saw 3.49 last night on my way home from work in Anoka and in Elk River it was 3.66

I heard the big oil just figured out that the high gas prices are effecting the economy.... Guess they havent been listening to the consumers just fillin up there tanks with our cash

[Scott K]

Well, that lower price was fun while it lasted. I see crude is back up to $86, and my local station went from $3.49 last night, to $3.54 today.

[RumRiverRat]

If Big Oil isnt a scam I dont know what is. They know they have us bent over the "barrel" and they know they can do whatever they want with the prices. Anyone who says Big oil isnt a scam either works for Big Oil or lives under a rock!

Of course our Govt. wont do anything because Big Oil has there $ in all them pockets.

You cannot be serious?!?!?!?!?!?!

It is sad how brainwashed the American public is about "Big Oil".

[RumRiverRat]

Well, that lower price was fun while it lasted. I see crude is back up to $86, and my local station went from $3.49 last night, to $3.54 today.

OH NOES!!!!!!!!!

An extra dollar for a 20 gallon fill up. You probably have that in your couch cushions or cup holder in your vehicle. Just buy one less bottle of pop at the gas station.

[Scott K]

I take it you have money invested in big oil?

[RumRiverRat]

I take it you have money invested in big oil?

You are foolish not too.

Companies that make money are good to invest in.

Regardless of that, there is not some vast international conspiracy by BIG OIL to inflate gas prices.

The vast conspiracy is being perpetrated by the "Green" movement to keep prices high to make us think Wind Turbines, Solar Power, Ethanol and Electric cars are the answer.

[harvey lee]

You can own all the big oil stock you want but what the total cost in the end is to you is well beyond any gains in profit from the stock.

Look at the increase in everything sold today that one purchases and you will never be ahead due to the huge increase in costs.

Your only kidding yourself.

Nothing wrong with owning some stock but to try and defend what they have done is questionable at best.

[swamptiger]

The main reason gas prices drop more slowly than they rise is the retailers are taking profits.

If the price of crude stays down, retail prices will come down.

[swamptiger]

Quote:

You can own all the big oil stock you want but what the total cost in the end is to you is well beyond any gains in profit from the stock.

If you bought shares of Chevron 10 years ago, the price of the stock is more than double what it was 10 years ago, and they pay about a 3% dividend to boot.

[lakevet]

Interesting how many people get cranky as they tailgate behind me cause I drive 53 mph. At that speed my F250 5.4 Super Duty with 4:11 rear end /automatic tranny gets a touch over 19 mpg. Go 70 mph and mpg drops like a rock. My old F250 with manual and 400 V8 at 50 mph gets 20 mpg. Same with wife's vehicle, sweet spot is 58 mph gets well over 30 mpg. From what I see on the road, a lot of people are not concerned about gas prices enough to drive slower to maximize mpg. Which may mean getting up a few minutes earlier in the morning. Or they are so busy consuming whatever junk food/pop/coffee/bottled water (all very high margin/profit stuff no matter where you buy it) they bought gassing up, they are not watching the speedometer or gas gauge. Also a lot have never heard of coasting, it's gas/brake/gas/brake............

Just what I do to save money and reduce my purchases from big oil while getting my family where we need to go.

And yes I move over when the line behind me grows

lakevet

[TravP]

We seen 2 stations in Onamia yesterday morning, $3.26 at one, $3.34 at the other. Last night they were both back in the $3.40's. Kinda irritating when you stop in Princeton($3.60's) on the way up and fill up a 620 and an F150

[RumRiverRat]

You can own all the big oil stock you want but what the total cost in the end is to you is well beyond any gains in profit from the stock.

Look at the increase in everything sold today that one purchases and you will never be ahead due to the huge increase in costs.

Your only kidding yourself.

Nothing wrong with owning some stock but to try and defend what they have done is questionable at best.

Defend what they have done?

What are you talking about?

Big Oil is the reason you all the various gas station options.

Without Big Oil you would be walking or riding a bike everywhere.

Oil and Gas stocks consistently pay dividends and go up in value on an annual basis.

I have 100's of thousands of dollars invested in companies involved in oil, natural gas, and other fossil fuels.

My investments pay dividends and have not lost any of the original money I invested.

If you do not like paying high gas prices, locate your own oil formation, drill your own well, build your own refinery and fill your tank with all the gas you manage to produce.

It is not that easy, all of those things cost lots of money, oil companies charge what the market will bear.

Supply and Demand, simple economics.

If you need a financial adviser Harvey I can hook you up. My retirement is in good hands and my stock portfolio is fat and positioned to make money even in the down market.

Exxon Mobile Corporation NYSE symbol XOM is up 20.18% in the last year. 2424.9% since January 13th 1978.

Chevron Corporation NYSE:CVX up 23.85% in the last year. 110.68 since October 19th 2001.

Hess Corporation NYSE symbol HES up 8.09% in the last year. 1266.92% since January 13th 1978.

Royal Dutch Shell plc (ADR) NYSE RDS.A is up 18.33% in the last year. 25.39% since November 16th 2001.

[reinhard1]

many pensions are invested in oil stocks also accross the nation. good luck.

[upnorth]

The only thing keeping prices under the $4.50 to $5.00 per gallon range is the crappy economy and unemployment. Commodities market is a strange beast and the refineries also work to keep prices at the pump up. Like it or not the more we drive the more they drive up the prices, especially the commodities market.

And no one will convince me there is no collusion going on. Not when you see prices up and all across an area within minutes. Not sure who pulls that string, but comon!!!

[RumRiverRat]

Oil is a commodity.

The price is dictated by supply and demand.

Collusion accusations?

Are you serious?

[upnorth]

Oil is a commodity.

The price is dictated by supply and demand.

Collusion accusations?

Are you serious?

Hahahhahahahahahaha! Good one, price is dictated by supply in demand, really good one LMAO!!

[RumRiverRat]

Hahahhahahahahahaha! Good one, price is dictated by supply in demand, really good one LMAO!!

Explain to me how it is not?

[upnorth]

Anytime you drive around a town and all the prices are the exact same somebody is talking to somebody about pricing fixing.

Not to mention that in the past we have had instances where one or two big(read that huge) investors buy up so much inventory it creates a false shortage and drives prices up even tho there is plenty oil to be distributed to the consumer.

[RumRiverRat]

Anytime you drive around a town and all the prices are the exact same somebody is talking to somebody about pricing fixing.

Not to mention that in the past we have had instances where one or two big(read that huge) investors buy up so much inventory it creates a false shortage and drives prices up even tho there is plenty oil to be distributed to the consumer.

Price Fixing?

Oh Please.

If the state of MN did not have minimum markups on gas there could actually be some competition amongst gas stations.

[CAMAN]

Price Fixing?

Oh Please.

If the state of MN did not have minimum markups on gas there could actually be some competition amongst gas stations.

I will agree with you on that!

[upnorth]

MN is not the only state seeing that phenomena. And that minimum markup has not been in effect forever ya know.

And what makes you so sure they are sticking to just the minimum markup? Go 10 miles down the road and you can see another town with a different price and all the stations with the same price. The markup is agreed upon folks. Ya really believe that the gas in Chisholm, mn is delivered at $.15 cheaper than Mt Iron, MN 12 miles down the road? Ya really believe that?

[harvey lee]

My father was in the gas business with bulk plants and numerous gas stations in the late 70's and early 80's.

Back then I will say this, all in town knew when the price was going up and everyone went up the same day.

This was not by chance at all.

These stations I can guarantee you that they all know when each other moves the price one direction or the other. One only has to watch numerous stations in one town move thier price signs all within an hour or so.

That does not happen unless others talk or call each other.

[SpecialK]

I know in CO the store managers would drive around their stores a certain distance and do 'surveys' then call it in to the district manager who then had the final say as to what to raise or lower the price to. Price changes always happened around 2 pm.

Pretty sure it happens here as well. Usually you find one store that changes first and the rest follow. Gas is usually more expensive right off the freeway as well.