Gasoline Prices

[R_P_A_S]

out here in California its fucking ridiculous! gasoline its way too expensive. about $3.20 for regular, and 3.$60 for premium!

How exactly are these prices determined? I heard is not even how much it cost. it's just speculation. can someone shed some light? or bust out the gasoline price calculator?

[Janus]

Specifically:type, grade, and location.

Overall, it depends on the production of the oil industry and oil exporters such as OPEC who base their prices on the cost of extraction, shipment, as well as finding/developing oil reserves,etc as well as macroeconomic global factors such as oil speculation. Short term oil prices can also be caused by localized events such as strikes, weather, political instability, inflation,etc. So, OPEC for instance has a considerable influence on the price of oil and can artificially increase the price for instance.

[R_P_A_S]

Originally posted by [email protected] 15, 2007 04:31 am
Specifically:type, grade, and location.

Overall, it depends on the production of the oil industry and oil exporters such as OPEC who base their prices on the cost of extraction, shipment, as well as finding/developing oil reserves,etc as well as macroeconomic global factors such as oil speculation. Short term oil prices can also be caused by localized events such as strikes, weather, political instability, inflation,etc. So, OPEC for instance has a considerable influence on the price of oil and can artificially increase the price for instance.

so they are always looking and always developing new oil reverses? why not use the same ones that make gas cost 1.99 a gallon? lol this is wack. i dont get it man.

so what would you say is the cause of California high prices? higher than anywhere in the U.S.? i havent heard of any strikes, and no weird weather???

[Janus]

so they are always looking and always developing new oil reverses?
Yes.

why not use the same ones that make gas cost 1.99 a gallon?
:blink: Petroleum is a nonrenewable and nonrecyclable resource. OPEC may always want to maintain stable prices but price increases are inevitable as greater demand for oil coupled with the greater difficulties in extracting and finding it come out.


so what would you say is the cause of California high prices? higher than anywhere in the U.S.? i havent heard of any strikes, and no weird weather???
Areas that are located farther from refining centers are going to face higher prices due to costs. California also has more stringent gas quality requirements and because of its greater demand it has greater prices which force it to import oil.
So, while there is a global oil price, these prices are different for different regions because of more localized events/circumstances.

[R_P_A_S]

so the U.S. only gets his oil from OPEC countries? not anywhere else? I though they had their own reserves?

man. Oil is fucking confusing.

[Psy]

Originally posted by [email protected] 15, 2007 05:18 am
so the U.S. only gets his oil from OPEC countries? not anywhere else? I though they had their own reserves?

man. Oil is fucking confusing.
The USA has oil but the rate of extraction of oil peaked in the USA in the 70's, due to the law of diminishings returns the USA can't extract oil at a significantly higher rate.

[Janus]

so the U.S. only gets his oil from OPEC countries?
No but the US gets around half of its oil from OPEC.
US imports by country of origin (http://tonto.eia.doe.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbbl_m.htm)


I though they had their own reserves?
Yes, but they're limited and dwindling which is why the US is opening up new sites in Alaska for drilling.

[R_P_A_S]

uh. maybe you guys already answer this question. But why did gas prices jumped to like 200% after 9/11? and have gotten higher and higher... all the stuff u explain never mentioned how 9/11 effected the price increase. or am i still brain washed?

[Organic Revolution]

Shit, 3.20 is cheap. In Chicago its 4 dollars for regular.

[R_P_A_S]

Originally posted by Organic [email protected] 05, 2007 04:42 am
Shit, 3.20 is cheap. In Chicago its 4 dollars for regular.
that was in march. is not that cheap anymore. and you trying to tell me in Chicago is more expensive than in L.A? i want proof! LOL

[which doctor]

Originally posted by R_P_A_S+June 05, 2007 12:56 am--> (R_P_A_S @ June 05, 2007 12:56 am)
Organic [email protected] 05, 2007 04:42 am
Shit, 3.20 is cheap. In Chicago its 4 dollars for regular.
that was in march. is not that cheap anymore. and you trying to tell me in Chicago is more expensive than in L.A? i want proof! LOL [/b]
Yeah, I just saw a map of gas prices in large cities in America and Chicago had the highest. It is roughly $4.00 a gallon. Ridiculous.

[Organic Revolution]

Its horrible, I cant even get to work in my car anymore and its all the way across town. It sucks. RPAS I'll post a picture.

[arielle]

Well I know the prices are really bad in Jersey. 3.17 regular

And I understand that isn't as high as Cicago or LA but at least you guys have mass transit. In south jersey we have nothing and everything is atleast a couple of miles away from where the residential areas are located.

:( it kinda stinks out here
my bike is my best friend (its a really good way to stay in shape too :) )