In case you're wondering why gas prices keep rising. . . .

[theweaves_dad]

I found this for everyone! It should help with the price of gas these days!

[ashedfc]

$5 is coming, its just a matter of time
Iranian Oil supple is already shrinking fast, causing a real shortage of supply.

& the US Oil price of West Texas Crude is a joke (its not the real price). The real price is UK Brent & see chart below, Diesel prices following Brent (not WestTexas).

[Darth Penguin]

For those complaining about gas prices in Canada....

UK gas prices are 140.2 pence per litre which works out as $2.225/l....

[Darth Penguin]

Not sure if any-one's getting this pile of crapo in thier inboxes/FB/Twitter feed



But really???????? I'm gonna need gas that week. I'm gonna go on whatever day is convienent and if any-one seriously thinks that a one day boycott is going to make a difference in a multi-national company is some-one who doesn't understand supply/demand.

All it could possibly do is affect independant gas station owners who have to buy at a set price and need to sell for a profit....

[lekate]

Not sure if any-one's getting this pile of crapo in thier inboxes/FB/Twitter feed



But really???????? I'm gonna need gas that week. I'm gonna go on whatever day is convienent and if any-one seriously thinks that a one day boycott is going to make a difference in a multi-national company is some-one who doesn't understand supply/demand.

All it could possibly do is affect independant gas station owners who have to buy at a set price and need to sell for a profit....

I really never understood the point of a one day boycott. I suppose because they're easier, like that 'Earth Hour'. It's a nice pat on the back that's all it is.

[ashedfc]

One day of boycott has no real meaning. It will not even make a dent on the local gas pump; forget about the regional level (which is much smaller than national level, multinational corporate level). Not filling that day is normally followed by filling twice the amount the next day, as consumption really hasn't stopped, its just the filling is not being done. It has absolute no meaning. Its only a waste of advertisement resources (someone will make a ton on money marketing on this).
If you really want to do something than don't drive that particular day. That will be real consumption hit & that will have some impact whatever..
In 2008 economic crisis, when GM, Chrysler, et.al. had gone bankrupt, than a lot of small car interest was developed; as they took bailout & came out of bankruptcy, the same habits came back again (bigger is better). And Auto finance is the area where real sub-prime lending is going on; lax lending criteria/ loose underwriting & easy loan approval coupled with low interest rates has made people to go crazy once again, (lower monthly car payment was all what was needed).
Now the rise in gas price is going to create several defaults in the car loan market too.......... who knows may be they will go bankrupt again. There is enough documentary evidence that dealers are stuffed with inventory, just to show good sales numbers at the GM/Chrysler/Co level. Real sales happen when, dealer makes the sale (not when the Co ships to the dealer).

Expectations are Iran oil supply will shrink, & simultaneous Saudi oil supply should increase, but will it keep pace (I doubt), not atleast as of now, we all can see...... some reports are Saudi is going to be the next target. Its a nightmare situation to even analyze what impact that will have.
Is the average western household (in North America & Europe with a high average debt load) prepared for high Oil/Petrol/Diesel/Gas price? NO, so what are the consequence...
1. Less savings as savings gets exhausted
2. No savings & people dip in their debts (more plastic) or line of credit
3. Less driving, which comes because of driving cost
4. Higher grocery, as its transported from distant locations, high transport cost results in truckers strike demanding high wage, etc..
5. Other non-consumables becomes expensive, Crude Oil is used in many things For example: Milk bag, the bag is a Oil byproduct
6.. the list is endless..
Apart from driving; the other uses will affect more..

[Darth Penguin]

I wonder if this will start up biological plastic research again??

[theweaves_dad]

I am just hoping and praying that Canadian Tire comes out with a Save 5 cents per litre promotion like they sometimes have! it creates long lineups but they organize so well that everything is under control and very orderly.

Heck I was thrilled yesterday when I filled up at CT in Hamilton and found out that I could save 3 cents per litre if I bought a single chocolate bar! I took the deal, got a chocolate bar, 3 cents off plus my CT $ on my Options card. Some things are like winning the lottery! *LOL*

[Darth Penguin]

David Cameron advises Keep Calm and stock up...

The government is facing criticism for its handling of the threat of a strike by fuel tanker drivers.


It advised "sensible precautions", saying drivers should top up their tanks but there was no fuel shortage.


Petrol retailers said the government was intent on "creating a crisis out of a serious concern" while Labour said it was making the situation worse.

Margaret Thatcher should be rolling in her grave....

[ashedfc]

This stock up tendency is the one which causes scarcity & stokes inflation.... Be prepared tough times are coming ahead..

[Darth Penguin]

There was a BBC report Tuesday or Wednesday which was talking about some refineries in NE America being mothballed since it was getting too expensive to refine due to the raising prices of crude oil. Which will make gas harder to get there.....raising the cost and availibilty of gas locally.

I'm looking for it ATM.


eta not BBC but it's a similar type of report

[Darth Penguin]

I'm cross-posting this thread as it has another aspect of the whole gas price crisis

[freefreefree]

interesting

[SammyA]

Gas prices hike is in our system. Saving money nowadays is not easy as counting because as the continuous increasing of gas prices, the rest follows especially the airfare. Those who can afford to pay good money on airline tickets will continue to do so if the prices will be rising. The same for people who really need to use them, but some people will probably think twice and calculate thrice the money before purchasing flight tickets. And the prices will be getting higher! And that's very disappointing for those travelers out there. You can click this link for more updates: Travelers beware of airfare increases

[ashedfc]

Yesterday Oil price (USD West Texas Crude went down by over 2%) & we saw an increase in the Gas price of over 3cents or over 2%.
Something is seriously flawed. The real Gas price, where you fill into your tank is real price as its taking delivery; whereas the WTI Crude is the paper maket & is incorrect (it's the most erroneous data to look at & is only for traders who flip in futures/options markets).

Yesterday example is ample evidence of what's in store for future. War has not even begun & we are already paying through the nose...

Looks like the release of strategic oil reserves as proposed by US, UK, & France will have very little impact..