[Driver72]

In the last 5 years, as we all know, gas prices have suddenly began rising to record levels EACH YEAR.
The gas/oil companies have been gouging us and making record profits EACH YEAR (though they claim it's higher demand and yada yada).

So for DECADES, as long as I can remember in fact, the price of gas between the grades was .10
Occasionally even some gas stations it would be .08.
But NOW, in the past 4-6 months I've noticed a new trend.

Now gas stations are suddenly charging .12 between the grades (87 to 89 and .12 more from 89 to 91).

WTF??

Nothing has changed in making the different grades of gas, so why all of a sudden are we being charged MORE for mid grade and premium then we've ever had to in the past?
Is this just more price gouging by the oil companies or am I missing something?
Is $100 Billion every 3 months NOT enough for them?

[ski360]

Originally Posted by Driver72

In the last 5 years, as we all know, gas prices have suddenly began rising to record levels EACH YEAR.
The gas/oil companies have been gouging us and making record profits EACH YEAR (though they claim it's higher demand and yada yada).

So for DECADES, as long as I can remember in fact, the price of gas between the grades was .10
Occasionally even some gas stations it would be .08.
But NOW, in the past 4-6 months I've noticed a new trend.

Now gas stations are suddenly charging .12 between the grades (87 to 89 and .12 more from 89 to 91).

WTF??

Nothing has changed in making the different grades of gas, so why all of a sudden are we being charged MORE for mid grade and premium then we've ever had to in the past?
Is this just more price gouging by the oil companies or am I missing something?
Is $100 Billion every 3 months NOT enough for them?

I guess you can chalk it up to global tensions and low output

[DFW_M]

But what I really don't understand is his last point -- why are the prices freely going up and Exxon posts $30B profit just like that. Obviously the demant is great, there is enough fuel if they keep posting these numbers...

So, again, what is the real reason prices are so high?

[txusa03]

The real reason is greed. Look exxon want to post more profit then Shell and the same with Shell and every oil corps...

I am just glad I have benn getting 27.3 mpg and still feel like I can still have plenty of fun here and there with the rpm. Kudos to bmw for their fuel consumption consciousness. I have a manual too.

[txusa03]

Originally Posted by dr325i

But what I really don't understand is his last point -- why are the prices freely going up and Exxon posts $30B profit just like that. Obviously the demant is great, there is enough fuel if they keep posting these numbers...

So, again, what is the real reason prices are so high?

must be lunch time in dallas

[Ninjaneer]

No no the real reason is Walmart. Now they want to bump Walmart down again so gas prices are going up

See? Wal-Mart bumps Exxon Mobil for top spot on Fortune 500 list

[Josh49]

Originally Posted by Ninjaneer

No no the real reason is Walmart. Now they want to bump Walmart down again so gas prices are going up

See? Wal-Mart bumps Exxon Mobil for top spot on Fortune 500 list

Good find..

[Driver72]

I know the price of gas is about greed...and some political help from the oil men in office I'm sure. I don't think there's any irony in the correlation between those two facts.

But it's the fact that the price BETWEEN the grades of gas is now more.
That's what I don't understand why?

Is that just purely MORE greed?
I can't imagine the demand for midgrade gas (89 Octane) has recently taken off so instead of .10 more than 87 it's now .12 a gallon more. Or there is some new high tech way of making premium gas that it now means spending .24 more per gallon (instead of the usual .20) for it over the regular unleaded.

[Scottz71]

We're all suckers for that sweet crude oil...now if you go and invent an engine that can do what ours can currently do, yet run on WATER...you'd be the next billionaire and save the planet...

Until then, just keep driving and paying through the a-hole for every mile.

[BMW F22]

its cus of global warming

[Scottz71]

Global warming --- MY ASS!

It is because there are roughly 300million people in the US, and almost 200million cars on the roads...it's called an addiction...to oil...

[Driver72]

I think the global warming comment was meant as a joke.

[Scottz71]

i got that part...

[scottwww]

Originally Posted by BMWE90

its cus of global warming

The fiction of the impact of car exhaust on global warming is a good excuse for raising prices and gas taxes. It is similar to saying there is some shortage of world oil supply making it sustainable for OPEC to raise prices.

[borsalino]

It's just business. It is there job to maximize profits and they are achieving their goals. There is nothing we can really do because the oil industry is a monopoly.

[ska///235i]

so why doesn't the usa have diesels like europe???

[darkcloud]

My grandpa is a retired executive of EXXON. Apparently he is making bank of his shares + he still gets like 75% of his salary. He's been retired for close to 20 years. Maybe some of that money will trickle down to me eventually . So everyone... BUY MORE EXXON .

These gas prices really do blow. Especially if you own a business that you MUST drive for. I'd be happy if the prices were at least $2.30 for regular. I remember when I got my license 9 years ago regular was like $.99/gallon and like $1.15 for premium . It cost me $13 to fill up the tank in my gas guzzling wrangler, now those were the days.

[darkcloud]

Originally Posted by ska

so why doesn't the usa have diesels like europe???

We do just not for BMW's Kinda dumb IMO

[scottwww]

Originally Posted by ska

so why doesn't the usa have diesels like europe???

It's too bad we don't. I think it has something to do with being PC and meeting emissions control laws. Maybe the laws are more restrictive in the US?

[LEDZEP]

Summer is coming. Summer = travel. Travel = consumption. Consumption = mass profits.

They will say things like "supply and demand", but they control supply and it is never above 50% so that is bullshit.

Pure greed. All we can do is pay.

[ska///235i]

Originally Posted by scottwww

It's too bad we don't. I think it has something to do with being PC and meeting emissions control laws. Maybe the laws are more restrictive in the US?

that sucks
but driving a V8 SUV will totally past the emission control law

[mrbelk]

Originally Posted by dr325i

But what I really don't understand is his last point -- why are the prices freely going up and Exxon posts $30B profit just like that. Obviously the demant is great, there is enough fuel if they keep posting these numbers...

So, again, what is the real reason prices are so high?

Oil and gas futures are speculatively traded on an open market just like stocks, wheat, corn, and pigs. Exxon has no more control over the price of their gasoline on the open market than you or me. If you've followed the major stock indeces, you've noticed that all of these markets are _very_ volatile the last several years.

Now, to the profit issue. Exxon Mobile is a popular target, so I'll just use them as an example. They posted profits of $30Bn on revenues of $300Bn. That's a profit _margin_ of only 10%. That's just basic economics that you should have learned in high school. A 10% margin is very low when compared to other industries (for example, the banking industry has roughly a 25% profit margin), but noone is crying for these other, more profitable industries to cut their prices or give up their profits. Noone had any sympathy for "Big Oil" when it was at like $15/barrel and the oil companies were losing their shirts.

Rant off. I guess my point is that if people would look a little deeper than the idiot talking heads reporting the news, they would see a much clearer picture. It's topics like this where the liberal/socialist bias and agenda in the mainstream media is blatantly obvious.

-MrB