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Author Topic: At the gas station last night . . .  (Read 1884 times)
Kris^
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« on: September 01, 2005, 07:24:36 AM »

After work yesterday I decided to stop and fill up my nearly empty gas tank.  I drove near the regular BP station where I usually get gas and saw it was 2.99 a gallon already.  I said "bump that," because my partner had phoned me to say that the Wawa down the road (an uber-convenience store) still had it for 2.74.  But I noticed a Luk-Oil station across the road (former Mobil chain recently bought out by a Russian company) still had it for 2.74, too.  So I pulled in and told the attendant to fill it up.

As I sat there, I glanced out the back window, and saw an employee walking out to the sign with a big pole and new numbers.  Within two minutes the price was 2.99.  Then the attendant kicked the nozzle off, after delivering only a half tank.  I jumped out of the car "Wo, wo, wo!"  He said he couldn't get any more gas in the tank. We argued and I insisted he finish filling, which he eventually did, and I finally got the full tank.   I got the last fillup before the price on the pumps went up.

I never imagined that fuel would ever increase by 25 cents while I was getting filled up!

Liz and I had been making plans for increased prices recently.  We bought some equipment and are building a reactor designed to convert used cooking oil into diesel.  We've run several 1 liter test batches from different sources and testing the results; it works.  So now we're spreading out looking for other sources for oil.  There are a lot of diners in NJ!  We have a price-locked contract for fuel oil at 1.89 for the greenhouses, but not our home.  And who knows whether the supplier will continue to honor the contract.  They have an "act of god" clause, after all.

This is getting ridiculous.

-- Kris
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BigRog
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« Reply #1 on: September 01, 2005, 08:46:28 AM »

This is just the beginning
The price of EVERYTHING is going to go up
Sooner or later it's take energy to produce and transport what we buy.
I think that this could be the start of a depression
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"Lurch my good man,…what did you mean when you said just now that 'You've got better things to do than run my petty little errands'…….?"
mark
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« Reply #2 on: September 01, 2005, 07:20:44 PM »

hey thanks for the warning kris.  they just went on my boycott list!
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« Reply #3 on: September 01, 2005, 07:27:31 PM »

Kris:

Amazing story and as Rog said, a sign of things to come. I'm looking at $3.11 as the cheapest in Lakehurst, Toms River (Towns I know Kris knows) my wife says was $2.97 but MOST are $3.09 average all over here in Ocean County.

On Tuesday I felt almost claustrophobic as I sewed my way into and out of a series of 2 pump isles, luckily getting to a pump within seconds of pulling into a station on a corner with 4 pumps total and over 15 cars in line - I just happened to be the only person pointing in the right direction relative to the gas fill on my car. This miracle of miracles ONLY HAPPENED because someone was willing to move a bit OUT OF LINE ( pulling ahead on a 45 degree angle and hoping the person behind him don't pull ahead) and then I pulled through and to the pump.

I got that gas at lunch time at $2.42 a gallon, after work I passed the station and the "cent's" part of the sign had been taken down, I later passed by and it was $2.87 and the following morning - $3.11.

I think I'm lucky, I only live 6 miles from work and RARELY go anywhere besides food shopping with my car. I'm driving slower and "FLOORING IT" a whole lot less and now getting a whopping 17.3 mpg with my Grand Marquis - that's with new tires and oil change last week. Honestly though, that is much better than my long time average of 16.2 and amazingly better than the 14.7 I averaged before the new tires. I have a digital dash readout, so keeping an eye on all these numbers is easy, I don't need to do any math, it just tells me how lousy my gas mileage is - ugh.
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Archie
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« Reply #4 on: September 01, 2005, 07:57:19 PM »

I hear you.....I filled my pickup yesterday afternoon at 3:30 for $2.79  at 4 the price was $2.94 and this morning the price was $3.19.  some stations are at $3.29 and that is at discount stations but the brand name stations are at $3.07.  go figure....I hope we do not have a cold winter because the fuel oil prices are predicted to be in the $3.00 per gallon range.

This evening at my stock club meeting, the general feeling was the price of crude will drop to $50 to $60 per barrel range.  we will see.
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BigRog
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« Reply #5 on: September 05, 2005, 12:11:38 PM »

John I can't image how much fun this take out of rving for you.

But here's a little ray of hope

Forbes warns of oil bubble
James McCullough and Mandi Zonneveldt
31aug05

PUBLISHING billionaire Steve Forbes has predicted that soaring oil prices will lead to a crash that could make the hi-tech bust of 2000 "look like a picnic".

Mr Forbes, publisher of Forbes magazine, said the price of oil, which peaked at more than $US70 a barrel on Monday as Hurricane Katrina headed for the US Gulf Coast, was unsustainable.
He said factors such as inflation and increased demand for oil from China and India accounted for only a small part of the price hike from $US25-30 a barrel three years ago.

"The rest of it is sheer bubble speculation," he said.

Mr Forbes, who was speaking at the opening of the Forbes Global CEO Conference in Sydney yesterday, said the higher the oil price rose, the harder it would eventually crash, creating more pain for hedge fund managers and their clients.

 
 
 
 
 
 


"I don't think it's going to go to $US100 but if it does the crash is going to be even more spectacular," he said.

"It will make the hi-tech bubble look like a picnic -- this thing is not going to last."

He predicted that oil would fall to $US30-35 a barrel within a year.

Mr Forbes's comments came as the price of oil eased following US Government comments that it could release some of its Strategic Petroleum Reserve.

The 700 million barrel stockpile is set aside for emergency use and could be used to counter oil shortages caused by Katrina's impact on the Gulf of Mexico, which accounts for about a quarter of US output.

After leaping nearly $US5 a barrel to $US70.70 on Monday, US oil futures retreated more than $US1 a barrel yesterday.

On the physical market, Texas Intermediate was trading at $US67.40 while London Brent Crude was up $US1.88 a barrel at $US66.75.

Katrina crossed the United States coast yesterday after closing the Louisiana Offshore Oil Port, the biggest US oil import terminal, and halting 92 per cent of normal Gulf output.

The market was nervously awaiting news of the impact of the hurricane last night.

Royal Dutch Shell reported that its production platforms in the Gulf of Mexico may have been damaged.

BHP Billiton's operations were expected to remain suspended for the next few days, company spokeswoman Emma Meade said.

She said the impact of the storm would not be known for several days.

Petsec Energy said its two offshore platforms were not in Katrina's direct path.

In Australian trade yesterday shares in BHP Billiton bounced back 44 to $20.47. Petsec finished 4 higher at $1.60.

Oil heavyweights retreated on profit-taking and after Opec indicated it would increase production to deal with any supply shortages.

Woodside slid 41 to $32.94 while Santos fell 30 to $11.52.



I honestly hope that the oil specualators who drove the price up lose their homes and have to live on the street. They deserve it for making things that much harder on all of us
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"Lurch my good man,…what did you mean when you said just now that 'You've got better things to do than run my petty little errands'…….?"
amymcg
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« Reply #6 on: September 05, 2005, 05:17:02 PM »

Yuck - We've been at $3.29 for the past 5 days at least.
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Romahawk
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« Reply #7 on: September 05, 2005, 08:04:56 PM »

Gas here in my area of central NY was $3.69 for several days and this morning it dropped to a $3.29 average at most stations across town. Must be they think everyone has gassed up for the holiday return trips already.
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