Gas prices going up! midwest only tho

[Millhouse]

If you live in cities along the Ohio river, and in Ohio, Indiana, Illinois, Michigan, and other midwest states, be prepared for gasoline to jump at the pumps. It already jumped at least .30 today on the street, and likely will go up another 30-70 cents roughly. We will be paying in the 3.00 and up range again for the near future in areas of the Chicago market.

But it wont last, maybe a month or so. See article below which sums up why we all will be paying more at the pump (unless you live in the Gulf Coast market like most of Kentucky, Tennessee, & the southern states it shouldnt effect you much if it all, and same goes for the NY market which is east of Ohio.)

Diesel shouldnt be effected by this mainly 87, 89, 90rec, 92, and 93 gasolines.

http://www.bloomberg.com/news/articles/2015-08-11/one-indiana-refinery-breakdown-ripples-through-u-s-oil-market

[Tiger Teeth]

(08-12-2015, 09:13 PM)Millhouse Wrote: If you live in cities along the Ohio river, and in Ohio, Indiana, Illinois, Michigan, and other midwest states, be prepared for gasoline to jump at the pumps. It already jumped at least .30 today on the street, and likely will go up another 30-70 cents roughly. We will be paying in the 3.00 and up range again for the near future in areas of the Chicago market.

But it wont last, maybe a month or so. See article below which sums up why we all will be paying more at the pump (unless you live in the Gulf Coast market like most of Kentucky, Tennessee, & the southern states it shouldnt effect you much if it all, and same goes for the NY market which is east of Ohio.)

Diesel shouldnt be effected by this mainly 87, 89, 90rec, 92, and 93 gasolines.

http://www.bloomberg.com/news/articles/2015-08-11/one-indiana-refinery-breakdown-ripples-through-u-s-oil-market

Oh joy.

[Stewy]

The prices will go back down. They have no choice really at current oil prices and the summer driving season coming to an end.

[CarolinaBengalFanGuy]

It's around $2.10 in South Carolina right now

[BengalHawk62]

Jumped from 2.49 yesterday to 2.64 this morning here in Iowa. 

[Driver62]

Up to $2.99 in Dayton, Ohio.

[*Wyche'sWarrior*]

(08-13-2015, 02:47 PM)CarolinaBengalFanGuy Wrote: It's around $2.10 in South Carolina right now

Cool.....headed to Darlington, then on to Myrtle Beach Labor Day week.

[Millhouse]

(08-13-2015, 02:37 PM)Stewy Wrote: The prices will go back down. They have no choice really at current oil prices and the summer driving season coming to an end.

When a major refinery goes down, the whole supply/demand aspect kicks in full gear for that entire region of the country which drives prices up temporarily, well at least in this case. Once the supply comes back in full swing, then prices should drop. And then in certain areas that use summer grade gas (7 pound gas) thru mid-September, prices should drop a bit further when they switch back to regular 9 pound gas.

[Millhouse]

Also I was reading and hearing at work that oil can keep on dropping when Iran starts exporting their supply. The demand worldwide is down actually compared to what OPEC has set to export, which is why prices are so cheap these days (in a nutshell)

ps I am not an expert by any means, but do work in the industry unfortunately.

[SunsetBengal]

Sad for the folks back home in Ohio, but I filled up for $2.17 today, just outside of Raleigh, NC.

[*bengalfan74*]

It was $2.15 here just a week ago now it's $2.85

[*michaelsean*]

I never understand the supply of gasoline. If a major refinery goes down, and supply is limited so the price goes up, how come I never see gas stations without gas? Are they bringing it in from further away and that's what causes the spike in price?

[SunsetBengal]

(08-14-2015, 09:48 AM)michaelsean Wrote: I never understand the supply of gasoline.  If a major refinery goes down, and supply is limited so the price goes up, how come I never see gas stations without gas?  Are they bringing it in from further away and that's what causes the spike in price?

I believe that it was Stewey, who explained it all, in great detail, in a lengthy thread on the old board.  Hopefully, he will share a bit of his insight, in this thread.

[Goalpost]

Yea. I just filled up half a tank at 2.99. I almost don't want to fill up completely hoping it will go back down.

[JustWinBaby]

(08-12-2015, 09:13 PM)Millhouse Wrote: We will be paying in the 3.00 and up range again for the near future in areas of the Chicago market.

Try closer to $3.80 downtown

[JustWinBaby]

(08-14-2015, 09:48 AM)michaelsean Wrote: I never understand the supply of gasoline.  If a major refinery goes down, and supply is limited so the price goes up, how come I never see gas stations without gas?  Are they bringing it in from further away and that's what causes the spike in price?

That, and other refineries will work OT to pick-up the slack, and that higher cost needs to be passed along.  And/or the refineries increase production from less efficient lines (sort of like in the winter energy demand spikes cause utility companies to supplement energy plants with more costly oil-based energy production).

There's also something to do with more summer blends (because of pollution) which increases costs.  But that shouldn't impact this particular spike.

[OkamiW]

$2.70ish a gallon in Upstate NY where I live right now. Luckily I drive a Saturn so gas prices don't affect me, much xD

[*Wyche'sWarrior*]

Went up 50 cents in a week here in central Kentucky......guess we're getting in the act after all......for shits and giggles I guess? :angry:

[fredtoast]

Just three weeks ago I drove up to Ohio. Gas was about $2.25 a gallon down here in east Tennessee. I am used to paying 15 to 20 cents a gallon more when I travel, but when I had to fill up in northern Kentucky it was about 40 cents higher.

[Millhouse]

(08-14-2015, 09:48 AM)michaelsean Wrote: I never understand the supply of gasoline.  If a major refinery goes down, and supply is limited so the price goes up, how come I never see gas stations without gas?  Are they bringing it in from further away and that's what causes the spike in price?

It basically goes like this:

Barrell of oil -> refineries -> loading racks/terminals -> gas stations & the local oil companies  -> consumers

When a refinery goes down it effects the supply at the terminals/racks and they are the ones that raise the prices which trickles down to the consumer. If enough refineries go down, then there could be shortages at the pump. Also when a major pipeline goes down or has issues, that can cause spikes as well.

That said gas stations also will gauge the public at various times for no real apparent reason other than trying to make more money "just in case" something happens in the near future (ie speculating). I know they jumped around here about .30 a few weeks back, and there were no shortages or issues other than hearing some pipeline up in bfe midwest was having work done on it. In other words no one knew why outside of the gas stations themselves lol.