So what's up with gas prices???

[Malcon10t]

I didn't know that about California but I heard that it was $6/gal around Palm Springs.

According to prices reported in the last 2-3 hours, Palm Spring prices are $4.40-$4.90.

 

[CamoMama]

Before throwing out there things like that you may want to try harder to understand the causes.

Sorry, while this isn't really the place for a discussion of the causes for high gas prices, you brought it up so... oil company profits are up 75% from 2010 while production is actually down 4%. Oil companies regularly see profits of 200-400%. Oil companies are indeed greedy.

 

[DLRfan31]

We are in Canada and right now our gas is 1.28/ litre which works out to just under $5 a gallon in the US but we have been as high as 1.40/ litre lately which is about $5.35 a gallon. It is truly NUTS! I have a small car (hatchback and it costs about $45 to fill up and our van (we dont know what it would be because we never fill it, costs too much!)

Yeah truly nuts indeed. We're lucky because we don't have to spend a lot on gas day to day. I feel bad for people who work hard for low wages and have to drive very far to get there. while the rich keep getting richer.

 

[Mary09]

Sorry, while this isn't really the place for a discussion of the causes for high gas prices, you brought it up so... oil company profits are up 75% from 2010 while production is actually down 4%. Oil companies regularly see profits of 200-400%. Oil companies are indeed greedy.

Public companies exist to increase shareholder wealth. I'm not sure 'greedy' applies. Anyone who feels the companies are inordinately profitable should just buy their stock and suddenly you're an owner, sharing in those extreme profits. XOM is around $92. If you have a 401k you probably already own some.

 

[Cheshirepixie]

In Sacramento gas is between $4.12 and $4.65. Most gas is in the higher range, although we were able to get gas at Sams club for $4.12.
The reasons why gas is so high in CA is for all the above reasons. Political, voters, and big oil.

 

[MillauFr]

Sorry, while this isn't really the place for a discussion of the causes for high gas prices, you brought it up so... oil company profits are up 75% from 2010 while production is actually down 4%. Oil companies regularly see profits of 200-400%. Oil companies are indeed greedy.

If you want to talk greedy you should start with Apple. One of those IPhones they charge $500 cost them about $5 to produce.

 

[CamoMama]

If you want to talk greedy you should start with Apple. One of those IPhones they charge $500 cost them about $5 to produce.

Apple doesn't have profits of over 200% last time I checked, and Iphones are luxury items. And they actually give a lot back in charity. Oil companies spent over 65 million on lobbying politicians last year. Apple gave 50 million each to Stanford University hospitals and Product RED.

 

[DLRfan31]

Before throwing out there things like that you may want to try harder to understand the causes. As others have pointed out California as a state has chosen to require special blends of gas. That limits is supply.

I am not sure anyone is to blame for this except I guess ultimately California voters. You might as well say "damn ignorant voters" if you must try to blame some entity.

In the end when prices increase it is a signal that supply is reduced. Increased prices make some folks decide not to pursue discretionary purchases or ride their bike more. That is a good thing as it allows the reduced supply to be spread around more efficiently.

Well, I do understand the causes, and along with the greedy oil companies, let me add Wall Street. While California does have a unique requirement, that doesn't necessarily make it the state with the highest cost per gal at the pumps. Yes, many elements come into force here, but if you're trying to convince me that greed isn't a part of it, well, ain't workin'......

 

[Mary09]

XOM profit margins:
Date: Net Profit Margin %:
6/30/2012 9.17
3/31/2012 8.12
12/31/2011 8.54
9/30/2011 8.83
6/30/2011 8.54
3/31/2011 8.46


S&P 500 (US largest companies) average profit margins:
Date: Net Profit Margin %:
6/30/2012 8.2
3/31/2012 8.23
12/31/2011 8.28
9/30/2011 8.29
6/30/2011 8.27
3/31/2011 8.22

 

[*Seanaci*]

Isn't the price of gas just a drop in the bucket compared to the overall cost of your vacation?

I don't like the price of gas either, but rather than get upset about it I just reduced our family driving. We've only spent $1200 on gas this year. Not much compared to other expenses.

Wow. It must be nice.

Just my husband driving to/from work, we average $200 a month for his car. Luckily, I can get 2 weeks driving out of my car and average about $75 a month.

 

[dana278]

Just be happy that there IS gas at most stations!

Does anyone in Arizona remember the gas pipeline shutdown in 2003? There was basically no gas anywhere, people were lining up around the block at stations that DID have gas, there was price gouging (LOL back then "gouging" was $3.89), people were following gas tanker trucks to stations, etc. It was bad. If you saw a station with gas you'd stop, even just to put a gallon in your tank. I remember I almost drove 30 miles out to Casa Grande because they had more gas, even though I'd just be putting in 12 gallons and it'd take 3 to get there and back!

Honestly that was something I'll never forget. Since then I've really never been bothered by gas prices, I'm just happy that there is gas to get me where I need to go.

 

[MillauFr]

Wow. It must be nice.

Just my husband driving to/from work, we average $200 a month for his car. Luckily, I can get 2 weeks driving out of my car and average about $75 a month.

That is because my wife and I refuse to take jobs where we have to drive to work. I gave away our second car 10 years ago and haven't missed it. We chose to live in a place with excellent public transit. I ride my bike to work and my wife takes the bus. Maybe getting around by car in Denver is easier but in Seattle driving will cause you to go insane.

 

[HydroGuy]

Well, I do understand the causes, and along with the greedy oil companies, let me add Wall Street. While California does have a unique requirement, that doesn't necessarily make it the state with the highest cost per gal at the pumps. Yes, many elements come into force here, but if you're trying to convince me that greed isn't a part of it, well, ain't workin'......

Wait a minute. Originally you implied in the OP oil companies caused all of it. Now I guess you have backed off to some of it. I challenged the "all of it" implication. Of course those in the oil business are the ones who make the gas and are part of the process. Whether they are the primary cause of the gas price spike is the question.

In any case, this is obviously a Disney forum and I am more than happy to drop this discussion.

 

[HydroGuy]

Sorry, while this isn't really the place for a discussion of the causes for high gas prices, you brought it up so... oil company profits are up 75% from 2010 while production is actually down 4%. Oil companies regularly see profits of 200-400%. Oil companies are indeed greedy.

Whoa. The OP implied that the greed of oil companies is the sole cause of the spike in California gas prices. I challenged that. I never said anything about the profitability or greed or whatever you want to call it about oil companies. So I see no need to reply to this any further.

 

[HydroGuy]

Here some more info on this:

http://news.yahoo.com/calif-gas-prices-hit-time-high-180809125.html

The dramatic surge came after a power outage Monday at a Southern California refinery that reduced supply in an already fragile and volatile market, analysts said, but the refinery came back online Friday and prices were expected to stabilize by next week.

A web of refinery and transmission problems is to blame, analysts said. The situation is compounded by a California pollution law that requires a special blend of cleaner-burning gasoline from April to October, said Denton Cinquegrana, executive editor of the Oil Price Information Service, which helps AAA compile its price survey.

Exxon Mobil Corp. said a refinery in Torrance returned to normal operations Friday after the power failure Monday disrupted production for most of the week. State officials said with the refinery coming back online, prices should start falling.

Gasoline inventories in California, however, are still at their lowest point in more than 10 years, a situation made worse by the mandate for the special summer gasoline blend. Few refineries outside the state can make it, meaning there are few outside sources to draw from for help, Cinquegrana said.

I guess some may argue a power outage at a refinery is really just a cover for greed by Exxon Mobil, but I suspect it is just...well...a power outage. Something that was not planned and happens from time to time.

And with that, I will drop this.

Now, back to the scheduled show...

 

[CamoMama]

Whoa. The OP implied that the greed of oil companies is the sole cause of the spike in California gas prices. I challenged that. I never said anything about the profitability or greed or whatever you want to call it about oil companies. So I see no need to reply to this any further.

No, she didn't say anything was the sole cause of the spike at all, she just made an off the cuff comment about greed. What you quoted was "damn greedy oil companies", which is what you responded to and appeared to take issue with. I responded regarding the greed of oil companies.

 

[CamoMama]

Here some more info on this:

I guess some may argue a power outage at a refinery is really just a cover for greed by Exxon Mobil, but I suspect it is just...well...a power outage. Something that was not planned and happens from time to time.

Nobody argued that at all. Power outages happen, so do oil spills which largely cut into BPs profits in 2010. When those things happen a spike in prices is expected. The average prices outside of those issues, however, border on offensive.

 

[Ingrid0382]

We're hoping prices will decrease over the next three weeks! It's only a 3.5-5.5 (depending of that fabulous LA traffic) drive for us, but it would be nice if we didn't have to subtract from our food/souvenir/lodging budget to add to our fuel expenses.

My complaint is petty compared to the DISers that are driving from much, much further away. I really hope things level off before your trips.

I don't know if it helps to mention that there are several grocery chains that participate in programs where you accrue a certain amount of points with them and it earns you deductions at several gas stations. I know Ralphs always has a tally at the bottom of my receipt of how many points I've earned towards a discount. Not a huge savings, but every little bit helps during times like this.