why did they say gas prices went up? - Democratic Underground

seabeyond

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Thu Aug-10-06 12:36 PM
Original message

why did they say gas prices went up?

summer i fill up about once a month. i have also been reading lots of fiction books, so havent been staying informed. i bought gas today and price is up. can you please tell me the reasoning (if there is one) why the gas price went up.

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AndyA

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Thu Aug-10-06 12:40 PM
Response to Original message

1. Take your pick:

1. BP Pipeline from Alaska shut down due to corrosion problems; this alone provided 8% of gas to the U.S.

2. Continued strain in the Middle East.

3. Tension between Chavez and Bush.

4. Supply vs. demand (supplies short, demand up due to summer driving).

5. This was part of the deal when the oil company CEO's wrote Bush's Energy Policy.

6. An old lady in Peoria, Illinois filled up her 1959 Cadillac, causing a worldwide shortage.

Any of the above should work.

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Kutjara

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Thu Aug-10-06 12:40 PM
Response to Original message

2. Because it's going to cost a lot of money...

...to clone a new body for Cheney when his finally gives out. He's pinning his hopes on his oil shares rising sharply.

Seriously, the lie we're being told is that the various wars in Iraq and Afghanistan, the threat to Iran, the leaky pipeline in Alaska the...you name it, is restricting supply (or may restrict supply), and so prices have to rise because demand is outstripping supply (or may outstrip supply at some indeterminate time in the future).

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Totallybushed

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Thu Aug-10-06 12:42 PM
Response to Original message

3. I certainly don't know

but I want them to go down again.

That means a new administration. They've risen continually since * came to power.

Vote in November

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ProdigalJunkMail

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Thu Aug-10-06 12:45 PM
Response to Reply #3

4. well, here is some good news

Nymex Gasoline Future

Price Chg %Chg Time
206.25 -10.97 -5.05 13:08

This is down from 233+ just last week. This is in cents/gallon.

sP

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Totallybushed

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Thu Aug-10-06 01:17 PM
Response to Reply #4

7. Every little bit helps

Thanks for the info

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gratuitous

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Thu Aug-10-06 12:49 PM
Response to Original message

5. Strangely enough

They're trying to sell the idea that BP's problems with its feeder lines is the reason. Now, it's common knowledge that the West Coast refineries take all the Alaska crude they can handle, and quite a bit of our oil is shipped off to the Asian market because the American market is running at full capacity.

I don't know why the oil companies can't simply sell less Alaskan oil to the Asian market and keep the American market supplied with American oil, but I'm sure there are complicated economic reasons beyond my understanding that justify the sale of our country's oil to other countries and jack up the price for the American con$umer.

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Smokie Lonesome

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Thu Aug-10-06 12:53 PM
Response to Original message

6. why did they say gas prices went up?

Oddly enough, prices still falling here in Oklahoma. $2.929 per gallon for reg unleaded.

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seabeyond

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Thu Aug-10-06 01:25 PM
Response to Reply #6

8. 2.92 is up from last time i bought. but yes, i hear it was higher

good first post and welcome. the reason price escalated is the summer driving, i forgot and the alaska pipeline. i like to know the reasons given. were you curious why it went up to above 2.92?

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Smokie Lonesome

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Thu Aug-10-06 02:01 PM
Response to Reply #8

10. were you curious why it went up to above 2.92?

Not really curious. I know there is some profit taking. It would be better if western oil companies could control the ppb. Competition would drive the price down.

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newyawker99

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Thu Aug-10-06 03:51 PM
Response to Reply #6

11. Hi Smokie Lonesome!!

Welcome to DU!! :toast:

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ComerPerro

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Thu Aug-10-06 01:27 PM
Response to Original message

9. I've even heard BushWhores say its just inflation, which is normal

Apparently 200% inflation in five years is normal.

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nuxvomica

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Thu Aug-10-06 04:08 PM
Response to Original message

12. A Republican relative told me it's cuz of the taxes

:rofl:

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