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[jbs49238]

At 10:00AM gas prices were around $3.60 a gallon, since then:

Oil: down 1.6%
Metals: down between 1% - 2.25%

But.... DOW JONES also down .65%

JPMorgan announced another possible $1B in trading losses and financial stocks are down across the board.

Gas at 11:30AM?  Should be down right?  NOPE up to $3.85 - $3.95.  Seems like the sellers of that refined crude who always preach the prices are market driven are trying to make up their losses in other places at the pump.

Any of you who still think gas prices are determined by supply and demand or the market need to wake up.

[ussoccer26]

Ugh....I hate gas prices!!!!

[eriemermaid]

I filled up my tank on Saturday for the first time this year.  Talk about sticker shock!!

[Skittelroo]

I filled up my tank on Saturday for the first time this year.  Talk about sticker shock!!

So sorry, Erie.   Be glad you weren't here for the $4/gal gas. 

[NewDawn]

I paid $3.89 a gallon tonight at Kroger on S. Monroe.  UGH!!

[Skittelroo]

I paid $3.89 a gallon tonight at Kroger on S. Monroe.  UGH!!

 . Dang it!  That's a 30-cent jump from a few days ago

[Professor H]

3.56 at Telegraph/Seventh...   til they ran out.   Saw the Truck there last night don't know if they raised the price.   

[Ladybug]

It really grates my cheese at how quickly prices will jump up and how slowwwwww they are to come down.   GRRRRRRRR!

[Tiny]

$3.59 at Hurd Rd and N. Monroe St tonight at 9pm up from $3.56 yesterday.

[lordfly]

At 10:00AM gas prices were around $3.60 a gallon, since then:

Oil: down 1.6%
Metals: down between 1% - 2.25%

But.... DOW JONES also down .65%

JPMorgan announced another possible $1B in trading losses and financial stocks are down across the board.

Gas at 11:30AM?  Should be down right? 

Uh, given that oil prices are bought on 90 day contracts generally, and that it takes time/effort/money to transport crude into usable gasoline, and that independent gas station owners usually only make a penny or two per gallon....
....no, no, prices at the pump have very little to do with daily fluctuations in oil prices, the stock market, or gold.

[lordfly]

This morning, a loaf of bread cost 1.49.

BUT THE STOCK MARKET WENT DOWN! That should mean that bread prices are cheaper? BUT NOPE! SAME PRICE!


I smell a wheat conspiracy.

[jbs49238]

Uh, given that oil prices are bought on 90 day contracts generally, and that it takes time/effort/money to transport crude into usable gasoline, and that independent gas station owners usually only make a penny or two per gallon....
....no, no, prices at the pump have very little to do with daily fluctuations in oil prices, the stock market, or gold.

Only a 1 - 2 cent markup on gas you say?

My arse.  The gas station owner I know (he has about 10 stations) says it is in reality about .30 a gallon, and no they do not change the prices when they buy the new fuel, they change the prices with the price of oil.  When oil goes up, prices rise... FAST, when the price of oil drops gas prices lower slowly.  Why slowly?  There is always a chance oil might go up, and pump prices are set taking into account the worst case scenario.

Plus you miss the main thrust of my post... There were no market indicators to suggest gas should go up... NONE!  Save for the fact that financial stocks took a beating.  I wonder where oil companies invest their spare dollars... financials maybe?

There is no oil conspiracy LF... they are just downright f-ing dirty bags of poo.  Besides it cannot be a conspiracy if it takes place right in front of your face.

[Baby Hitler]

they are just downright f-ing dirty bags of poo. 

Standing ovation on that line right there.

[lordfly]

Standing ovation on that line right there.

Meh. Populist rage about gas prices will get you everywhere, it seems.

[BigRedDog]

Get Gas Buddy on your phone.

Don't wait to fill up until the prices jump.

Drive less, walk or bicycle more