why is it when we have a holiday they raise gas prices? blame it on us because we want to see our kin. NO, IT’S THEM. THEY KNOW WE ARE GOING TO SPEND THE MONEY TO DRIVE THERE!!! SHAME SHAME!!! PRICE SHARKS!!
Of course they do. It only makes sense. If you sold apples, and were the only one that sold them, what would you do the week before the big apple pie bake-off? Lower your prices? Of course not. Simple marketing…charge the price the market will bear.
In my neck of the woods, gas prices have been steadily dropping for well over a month, and the pre-holiday period is no exception.
Don’t believe me? Then take a look at this article from my state’s leading newspaper:
What the OP has observed is not necessarily representative of all areas of the country.
Gas prices are up a few cents per gallon this week compared to last week in Central MD… I try not to think too much about it. There’s nothing I can do about it and I don’t need to add to my list of obsessions. It’s too long as it is.
My take on what the OP was saying is; why the connection between the stock market and gas prices at the pump?
The Stock Market goes up, gas futures dealers see that as a time to buy gas futures so crude and gas futures prices go up. No change in demand, no change in supply. Just perceptions that demand will increase with economic activity using stock market as predictor.
However stock market lately is driven most by issues in Europe, nothing to do with oil. So, pump gas prices are in the hands of futures dealers looking to make money on the rise and fall of futures market(s).
Its not Obama, not the republicans either. Gas prices are not heavily driven by “polictical” actions by either party. We are dealing with money here, and big money is made by playing the futures markets.
Gas has been steadily dropping here, including 1 cent yesterday, to $3.07.
In PA it has been holding at $3.299 for about 2 weeks, haven’t been out today to see if we have a holiday increase! I live in a heavy recreation area and usually we get increases in the heavy use summer holidays.
Futures prices did pop up along with the stock market this week, so a price at the pump increase wouldn’t be a big surprise to me.
I have received coupons at my local grocery chain that provides 20 cents off a gallon of gasoline at a Speedway gasoline station for up to 15 gallons of gasoline. Speedway is competitively priced, so I save some money. When I visit my son, I can buy gasoline at the pumps at a Kroger store and receive a discount by entering his telephone number. His local WalMart has some kind of discount for loyal customers.
I would rather see lower pump prices than all this “loyal customer rewards” business. I would like to know the connection between grocery stores and WalMart with the petroleum industry.
Given that this is NOT HAPPENING to any significant degree, a real non-issue. Fun to hate, I guess.
"there is nothing we can do about it"
I disagree. There are lots we can do about it. That’s WE with capitals. Just sitting back and letting usage determine oil prices when realistically, oil has no competition for the majority now. Support true capitalism in all it’s forms and do things like…insulate your house, take public transportation ride a bike and buy energy efficient cars…and support all politicians who support and back these alternatives instead of putting oil executives in the white house. It’s a joke, on the consumer. When ever oil is threatened by alternatives and it shows in the price of crude, or world pressures affect a drop, the price at the pump is dropped and we short sighted consumers are yanked back into our old habits, only to be bled dry again. We are just as short sighted as we want to be…“there is nothing we can do about it” is a perfect example. The key is to support alternatives…when the price is low and not just when the price is high.
Is this silly thread about gasoline prices or stock prices?
I’ve noticed no increase in fuel prices in the last week, but this isn’t tourist season in Florida.
I don’t watch the oil company stock prices, so I can’t address those. I can, however suggest the OP invest in oil companies so he/she can benefit from market-driven spikes in the price of fuel. If you can’t beat 'em, join 'em.
“There are lots we can do about it.”
I do most of that already (public transportation is impractical for me). I even buy gas where it is least expensive for me (near work). So, I don’t wee where there is much else I can do. BTW, my home is so well insulated that temperatures on the top floor didn’t get unbearable until the 2nd day of the power outage, were tolerable on the 1st floor all the time, and actually comfortable in our walk-out basement until power came on about 42 hours after it went off.
“I can, however suggest the OP invest in oil companies so he/she can benefit from market-driven spikes in the price of fuel. If you can’t beat 'em, join 'em.”
I have held Exxon & Chevron stock since the '90s, and I added Marathon stock about 8 years ago.
I can’t do much about the price of gas, other than to try to conserve all types of energy, but at least I can make a few bucks off of the companies that market the stuff.
Fuel prices have been dropping in my area lately.
I support alternatives. I also support increasing domestic supplies with projects like the Alaskan pipeline.
The question always comes down to “HOW do we support alternative energys?”. So far the federal government’s efforts have been directed toward supporting/subsidizing ethanol producers, granting money to companies in the field…based on very poor choices, I might add.Oh, andthen there was “Cash for Clunkers”, one of the goals of which was to get people to trade their cars for more efficient ones. That was a $3Billion joke. And if we look back a few years, building nuclear power plants. Chernoble and Fukishima have shown how dangerous THAT can be. Other nuclear power planys have shown how EXPENSIVE that can be. They promised us power from the Seabrook Nuclear power plant that would be too cheap to meter. Instead we’re all going bankrupt.
There are things that can be done to promote alternative energy affordably. But IMHO the feds don;t have a great rack record in using our tax money to do so. I think it’d be better driven by the private secotor responding to an open marketplace, with perhaps the exception of interstate infrastructure (such as recharging stations).
Gasoline prices went up about a quarter where I live on July 3rd, presumably due to travel for the fourth of July just like every year, but prices are still much lower than they were a month ago. Last fill-up in my F150 was less than $50 from about 3/8 tank. Hard to complain about that since the first time I filled the tank after buying that truck I had to swipe my debit card twice to fill it completely (30 gallon fuel tank).
I hardly pay any attention to it anymore unless there is a wide swing. What difference does it make? Not much connection with the stock market though.
Gas HAD been dropping here… until just before the holiday. Then it shot up about 20 cents, only to go right back down immediately after. This is typical profiteering that I see in my neck of the woods nearly every holiday bigger than Boy Scout day. If you want to avoid it, make sure your car is full a few days before any holiday.