an unusual fuel price jump.

[welderguy]

Yesterday fuel was 2.97 to 3.05 a gallon for regular. Today its 3.19 to 3.32 a gallon for my area that is not normal it usually goes up 2 to 7 cents a gallon in a 24 hour period. Did crude just spike off the charts or what

[r0ckhamm3r]

Unfortunately yes. The turmoil in the Middle East is driving the price of crude oil up. Libya is one of the largest oil producing nations and it has a large effect on the price of crude oil, as most of the production is "light sweet" crude. The violence in that country has resulted in the loss of 1/2 of the country's output, causing a $6/barrel increase in crude oil prices.

[Justin Case]

Here we go,, into another war,,, its all about the oil, always has been..

[Rick]

Once Goongooffey ordered the pipelines blown up traders went nuts. Oil touched at $100 for a short bit. What amazes me (although it shouldn't) is when crude hits a price the pumps immediately reflect it. Even though the crude is still in the ground and won't be at the pump for weeks they still reflect it.

[COWBOYSURVIVAL]

I think it will be a long summer! Look for me to be burning hay on my summer outings! I am going to park the boats and hit the swamp on horseback this year!

[r0ckhamm3r]

Prices go up at the pump immediately when something like this happens, but the prices take a long time to go back down.

[Pal334]

You can thank our fellow citizens for these spikes.Much of the price hikes are as a result of commodity traders scrambling to make a quick buck. So far none of the countries in turmoil, Tunisia, Egypt or Libyria are significant oil contributors to the USA, so reality would dictate that they would not in and of themselves contribute higher prices.

[r0ckhamm3r]

I have to disagree with that. It is true that Libya does not directly supply the US with oil, but they do supply the EU and several other places. Any time the supply of a commodity drops, the price rises. Libya lowers production, that creates more of a demand for oil from countries like Saudi Arabia, that do supply the US, driving up the prices that we have to pay.

I do agree that the problem is caused in a large part by commodity traders, but supply and demand plays a part as well.

Like it or not, we live in a global economy.

[Trabitha]

Yep, between the drama in Libya and the riots picking up again in Egypt...we're in for some high oil prices for a while.

[crashdive123]

Keep in mind that the price you pay at the pump today is so that the storage tanks can be filled a week or month from now. While the gas that is being pumped today cost less than is being charged, if the prices were not raised then the tanks could not be filled down the road. That's part of how it works, but yeah - still sucks.

[your_comforting_company]

It's the same with shingles. Even if wholesale price at the warehouse has risen, yet the supplier I buy from has 100sqs on hand, if they don't charge a higher price for what they have on hand, they won't be able to afford to get more shingles when stock runs out. Makes perfect sense to me.
Lately shingle prices have been coming down, tho.

[Rick]

Supply and demand certainly plays a large role. That's what drives the traders. Oil is a global commodity today. If we don't buy available supply then China will.

[Winnie]

I don't mean to be rude, but you have it easy on fuel prices. Here in England, fuel has just gone up to £5.20 per US gallon that's $8.41. I can't afford to run a vehicle. 'Nuff said.

[Rick]

I sympathize with you, Winnie and something I've posted about for a long time. British taxes are just beyond any hope of reason.

[Winnie]

I'm bracing myself for price rises in food because of increased transport costs and higher gas and electricity prices. The energy companies won't miss this opportunity.

[RCKCRWLER]

Not to be rude, but I get sick and tired of hearing, "You should stop complaining about your gas prices" from people on the other side of the pond. It just flat out annoys me. I enjoy you and your posts Winnie but it's a blanket statement that boils my blood.

I am going to complain because some yahoo speculator thinks the wind is going to possibly blow from the north south corner of the world today and oil prices must go up immediately. It's BS!!! Producing gas today costs no more than it did yesterday or last month. I am tired of getting gouged everytime I turn around, $1.00 here $5.00 there all because of "a rise in oil prices" has forced us to raise our prices. And, when oil drops back down, "we won't drop our prices because, well, we won't." All I can say is "Drill baby Drill..." Tell the tree huggers to bite it and let the drilling begin in the mosquito infested swamps in Alaska and start drilling in the Dakotas.

Rant off. Sorry but I just get more and more pi$$ed everyday at the direction this country is heading in...

[RCKCRWLER]

Yes, I vote and "they" still don't listen. All we can do is prepare. That's why I'm here, I enjoy the posts and info. Again, that was not an attack on Winnie.

[Winnie]

RCK, I never said to stop complaining, I was the one complaining. The big difference between our two countries is not the actual price of fuel, but the duty levied on it.

[RCKCRWLER]

Sounds good. Blows me away that Governments want us to just go baaaah, baaahhh and be sheeple and do as they say. Duty's levied on gas.... sounds like the saying over here, "Keep working millions on welfare depend on you" or, "keep working 12 million illegals depend on you." As said before it sucks. Times get real bad we may have to canoe over the pond to help each other out. (We just won't take Rick's canoe!)

[Winnie]

Oh don't mention the Ocean going F.A.R.Tmobile! I'm still waiting for them to come over and help with the Mice.
There was talk of blockades of Refineries at Gravesend to protest against fuel prices, but that seems to have fizzled out due to lack of interest. What can you say?