Gas Prices, been creeping up for awhile. WHY?

[Bay Area Holdout]

From all I read oil is still bouncing off all time lows not seen in years,
yet where I live(South SF Bay Area) gas prices hit a low of $1.69 a gallon
in mid-December and are now at $2.22 a gallon tow month later.

So what's up? This is close to a 25% rise in two months and while I know
it's not the $4.49 a gallon we were dealing with during the summer, it's not
$140 a barrel oil either.
All I read is low demand for fuel and the refinery storage facilities have
no room left, supply and demand says prices should still be well below $ a
gallon, at least around here.

Just wondering if others have seen similar increases where they live and if
they have an idea what's going on.

BAHO

[Rod Speed]

Bay Area Holdout wrote:

> From all I read oil is still bouncing off all time lows not seen in years, yet where I live(South SF Bay Area) gas
> prices hit a low of $1.69 a gallon in mid-December and are now at $2.22 a gallon tow month later.

> So what's up?

They're increasing their margins, because they can.

> This is close to a 25% rise in two months and while I know it's not the $4.49 a gallon we were dealing with during the
> summer, it's not $140 a barrel oil either.

> All I read is low demand for fuel and the refinery storage facilities have no room left, supply and demand says prices
> should still be well below $ a gallon, at least around here.

> Just wondering if others have seen similar increases where they live

Yes. And thats on the other side of the world to you too.

> and if they have an idea what's going on.

See at that top.

[catalpa]

"Bay Area Holdout" <Line...@hotmail.com> wrote in message
news:c94ll.12872$D32...@flpi146.ffdc.sbc.com...

The crack spread went negative last fall with wholesale gasoline price under
$0.80/ gallon and refiners were losing money on every barrel they refined.
The crack spread has since returned to a normal range with wholesale
gasoline price now about $1.26/ gallon.

[James]

On Feb 13, 4:26 am, "catalpa" <cata...@entertab.org> wrote:
> "Bay Area Holdout" <Linea...@hotmail.com> wrote in messagenews:c94ll.12872$D32...@flpi146.ffdc.sbc.com...

> gasoline price now about $1.26/ gallon.- Hide quoted text -
>
> - Show quoted text -

People buying gas guslers after gas came down.

[Nove...@aol.com]

An article on Yahoo Finance said the refiners were REDUCING the
amount of gas they make in order to get the prices up. The oil
companies act together like a cartel.

I was amazed to see the price go down to $1.57, so no, they don't
have complete control of the price, but they sure do have cartel power
to control the supply.

Every time there is an investigation, the oil co's get off with a
slap on the wrist, or lighter.

[John A. Weeks III]

In article
<c3f8a070-2556-412e...@k19g2000yqg.googlegroups.com>,
Nove...@aol.com wrote:

> An article on Yahoo Finance said the refiners were REDUCING the
> amount of gas they make in order to get the prices up. The oil
> companies act together like a cartel.

Of course they don't. They act like human beings. When the
price of your widgets go down by 50%, what incentive do you
have to keep cranking them out? Same with petro--the price
is way down, so supply is naturally going to drop off a bit.

-john-

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