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Thread: Gas jumps $30 cents per gallon overnight!

  1. #1

    Default Gas jumps $30 cents per gallon overnight!

    Why did gas jump 30 cents per gallon overnight??? Barrels of crude oil are still the same price $112 a barrel... $4.15 a gallon for regular is crazy in Ohio!
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    Senior Member Greg K's Avatar
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    yeah, it was nuts that within an hour, stations all around me were from 3.79-3.99 then all of a sudden all are at $4.15 exactly.

    See they warned up "$4.00/gallon by summer", everyone got used to it, so now since they like shocking us, the say $5/gallon now.

    Makes me glad I work from home!

  3. #3
    Senior Member Fairfax Limo's Avatar
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    Quote Originally Posted by First Class Limos View Post
    Why did gas jump 30 cents per gallon overnight??? Barrels of crude oil are still the same price $112 a barrel... $4.15 a gallon for regular is crazy in Ohio!
    I guess because a $10.7 billion Q1 profit is just not enough. It is absolutely ridiculous. It is peaking at the worst time for us. Our highest fuel bills are April/May/June.
    Thursday, April 28, 2:52 PM

    Exxon Mobil reported a first-quarter profit Thursday of $10.7 billion, a 69 percent jump from the year before as higher crude oil prices, fatter U.S. oil refining and marketing margins, and a revival in global demand for petrochemicals boosted earnings.
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    Senior Member RoyalFleet's Avatar
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    Fuel surcharge time. We started a week ago by raising our prices $4 an hour and a 5% surcharge.

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    Senior Member BLVD Limo's Avatar
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    Oh, yes, again, it is time to start pointing fingers at oil companies. Let's forget about the fact that their profit margins a slightly lower than what they were a year ago. I guess businesses can't make profits anymore and that we are all in this to break even.
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  6. #6

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    It droped 18 cents here yesterday 4.17 to 3.99

  7. #7

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    How can gas jump 30 cents when the price of a barrel of crude oil stayed the same? Does anybody know?
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    Quote Originally Posted by First Class Limos View Post
    Why did gas jump 30 cents per gallon overnight??? Barrels of crude oil are still the same price $112 a barrel... $4.15 a gallon for regular is crazy in Ohio!
    Speculation:

    http://www.huffingtonpost.com/2011/0..._n_855495.html
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    Because our friends in Washington are printing too much money. Why is it that you could buy a canadian Dollar for $.90 a few months back and now it cost $1.05? Why is Gold over $1,500.00 an ounce? Worthless money on a global scale. Remember we buy most of our oil from Canada.
    Last edited by Earl Metcalf; April 29th, 2011 at 06:43 PM.

  10. #10
    Senior Member Cedar Mill Limousine's Avatar
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    Quote Originally Posted by Rick E. View Post
    LOL, come on Rick - speculators don't run up the price! The speculators are paying more because they see the supply has a high risk of going low. There is a lot of not-so-good stuff happening in the oil producing countries and it is pretty obvious that Obama's team will not allow any more drilling for American companies. Couple this with a really bad dollar (and the Fed is doing little to combat it), and you have high speculation that oil will be worth more in the very near future. Forget $5/gallon gas, if Obama's team doesn't change their policies, you will see $6 easy. Remember, the President has made it clear he does not care what the price of gas is and I am wondering if they (his team) really care about our economy! http://www.nationalreview.com/articl...e-larry-kudlow

  11. #11
    Senior Member Cedar Mill Limousine's Avatar
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    Would you blame speculators for running up the price of gold too?!?!?

  12. #12
    Senior Member Cedar Mill Limousine's Avatar
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    For those talking about adding a fuel surcharge, in my opinion, you would be better off just raising your rates. Inflation is settling in and it looks like it will be getting worse before better. All of your overhead is going up (food already, oil, tires, health insurance, etc.) and quite honestly, what customer likes additional charges anyways?

  13. #13
    Senior Member BLVD Limo's Avatar
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    Quote Originally Posted by Cedar Mill Limousine View Post
    For those talking about adding a fuel surcharge, in my opinion, you would be better off just raising your rates. Inflation is settling in and it looks like it will be getting worse before better. All of your overhead is going up (food already, oil, tires, health insurance, etc.) and quite honestly, what customer likes additional charges anyways?
    Some areas require filing a new tariff if you increase your rates, however, in many cases, there is an exemption for fuel surcharges. You can't file a tariff and have it approved instantaneously.
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  14. #14

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    Quote Originally Posted by Cedar Mill Limousine View Post
    LOL, come on Rick - speculators don't run up the price! The speculators are paying more because they see the supply has a high risk of going low. There is a lot of not-so-good stuff happening in the oil producing countries and it is pretty obvious that Obama's team will not allow any more drilling for American companies. Couple this with a really bad dollar (and the Fed is doing little to combat it), and you have high speculation that oil will be worth more in the very near future. Forget $5/gallon gas, if Obama's team doesn't change their policies, you will see $6 easy. Remember, the President has made it clear he does not care what the price of gas is and I am wondering if they (his team) really care about our economy! http://www.nationalreview.com/articl...e-larry-kudlow

    Honestly it doesnt matter a whole lot if we are drilling more here in America or not. The price of oil sells for what its listed for on the stock exchange. So theyre going to sell oil for $113 a barrel if its produced in America or not. Theres just a small savings on shipping and stuff but the oil will still sell for what the speculators and stock market can sell it for.
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  15. #15
    Senior Member Cedar Mill Limousine's Avatar
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    Quote Originally Posted by First Class Limos View Post
    Honestly it doesnt matter a whole lot if we are drilling more here in America or not. The price of oil sells for what its listed for on the stock exchange. So theyre going to sell oil for $113 a barrel if its produced in America or not. Theres just a small savings on shipping and stuff but the oil will still sell for what the speculators and stock market can sell it for.
    It matters when they have unrest in their countries and shut off the Suez Canal. Both will shut down supply.

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