Gas Prices – update Weds.

August 27th, 2012 at 11:44 pm by under Bill's Blog, Weather

   Here’s the latest from Ed:  “Monday, August 27, 2012, 9:50PM:  On Friday, you could have bought a share of Apple Computer for $657.  This morning, you needed $680 for the same share.  That’s $23, or almost 4% higher, and that’s how the stock market works sometimes.  The rise in Apple was connected to the Samsung smartphone ruling.  Gasoline is also traded on a market, and for the past several years, it has often behaved like Apple.  (Regulators, take note!)  Today, for instance, traders are treating Hurricane Isaac like Apple’s legal ruling, and Chicago wholesale prices are soaring.  I don’t see how we won’t get a hike tomorrow to over $4 a gallon, and I am going to fill up in the morning before it hits.”  -Ed A.           Isaac has shut down 93% of U.S. oil production in the Gulf of Mexico and 67% of natural gas production.

35 Responses to “Gas Prices – update Weds.”

  1. Dave VanHouten says:

    Thanks for the heads up on the gas hike. I wish you could have predicted the Apple Computer share increase for me in advance too :) Have a great day I am heading in to fill my tank

  2. Brad (Lawrence) says:

    This was about as predictable as the sun coming up this morning. I do thank you Bill for giving us a heads-up as to WHEN to possibly expect a hike. I think this is going to be a frusterating weekend ahead. Need to get gas, going camping and here comes some serious rain. Unfortunately we are going to have to make do as my wifes time off of work is very limited. Guess it might be some old-fashioned board games for the family in the camper this weekend, that’s not so bad is it?

  3. Brad (Lawrence) says:

    “But sharper rises were recorded in the Gulf states preparing for the storm, with gas jumping 2.5 cents to $3.642 a gallon in Louisiana, a little more than 2 cents to $3.563 in Mississippi, and 1.3 cents to $3.581 in Alabama.” – Courtesy CNNMoney. Hey look, even with a HURRICANE getting ready to slam into them, they are still about 30-40 cents cheaper than us. Simply amazing how we are being gouged here in the Midwest. We keep getting fed these BS stories on how the refineries in our areas have these never ending maintenance issues and pipeline issues. What a crock…tell us another one.
    OK that’s my daily rant…thanks for reading. :P

  4. DanielG says:

    Amen Brad, amen.
    It will go down again but amazing that the ‘traders’ who exact no effort other then being on a trading floor, have sooo much influence over everything. They don’t toil, sweat or produce, they trade.
    I half expected them to be down in Tampa with all their buddies. We could only hope.

  5. garth says:

    What’s wrong with this picture: A hurricane causes more panic, price gouging, and lines at the gas pump in the MIDWEST, 1200 miles away, than it does on the COAST where it hits! We are being shafted here. Florida is 50 cents CHEAPER than we are as well.

    1. Travis (Oxford, MI) says:

      Transportation costs

      1. sarah says:

        crazy you wouldn’t think it would effect us cross the United States but it does!!!!

      2. michael g (SE GR) says:

        and taxes.

  6. Travis (Oxford, MI) says:

    Almost 30% of US oil production comes out of the gulf. We’ll see what happens! Hopefully, the rigs hold up just fine, and we’re just talking about a day or two of missed production.

    1. SlimJim NW GR (1) says:

      Why wouldn’t the rigs hold up?? They are in a area where hurricanes hit regularly so it would be stupid on the oil companies to put them there if they could not hold up to at least a cat 2 to 3 hurricane. As for “lost” production that is also something that the oil companies should anticipated. Of course one reason is “profit” that is one of the real reasons there will be a price “spike” and the fact that both traders and oil companies “can” so they will. Ever one enjoy their Labor day weekend.
      SlimJim

      1. Travis (Oxford, MI) says:

        The new rigs were built to withstand Cat 3 and 4 hurricanes I believe. The older ones still in existent, however, who knows.

        And yes, supply and demand are pretty much on top of each other in our current market so even a couple days of missed production can be a huge deal.

  7. INDY says:

    Gas is over $4.00 now !!!!! Going up!! INDYY..

  8. SS (Pwell Area) says:

    Filled up yesterday…

  9. I made it just in the knick of time! $3.92 at Meijer in DeWitt – the Speedway down the road is already $4.09!

  10. Todd H (NE GR - Dean Lake) says:

    Filled up last night thank goodness

  11. Teresa says:

    just filled up in marshall at $3.89, but with a prepay gas card i got .05 off per gallon of gas. every little bit helps.

  12. GOUGING HAS STARTED !!! $4.09, EXCUSITIS for next 2 weeks?

  13. Jack says:

    What a Rip- Off…… 75 cents for Air… In Tires… Plus over 4 Dollars for A Gallon. Of Gas…… Intercourse Em……

    1. SlimJim NW GR (1) says:

      Where is the charge for using the water to clean the windshield. And don’t forget the upcoming “restroom” charge.
      SlimJim

      1. Jack says:

        Don’t Give Em..ANY IDEAS….. Slim Jim………..sssssssssshhhhhh… Lol

  14. sarah says:

    it is still 3.85 in crystal

  15. Mike - Kalamazoo says:

    It is Greedway. They and only they are the reason our prices jump so much in one day. Its a fact, in states that Speedway is not in, the prices may jump, but only a few cents, not 20 – 25 in one day. But hey, go ahead and keep going there so you can get your little points while they laugh all the way to the bank.

    1. Mike (Wyoming) says:

      Along 44th st in GR Speedway was cheaper than the non Speedway stations before the price jumped and it looked like the other stations jumped first…

  16. Cassie says:

    I should have gotten gas this morning when it was 3.68 up the street….I fail!!

  17. Vincent(N.E.Kent Co) says:

    Filled up this morn if for 3.47 where I was on a road trip. Nice day and hot. Still 94 out 30 mins ago.

  18. michael g (SE GR) says:

    It’s because Obama is an oilman. Err, wait.

  19. Sandi says:

    Nothing more than oil companies have to maximize profits for the 4th quarter. And, as usual, the common folk pay through the nose.

  20. 04 GTO (gaines 68th & Kzoo) says:

    what don’t THEY understand!!! the more we put into our tanks, the less we have to spend in our local economy.. econ 101!!! obama FAIL!!!

    1. big Daddy BC says:

      http://money.cnn.com/2012/01/31/markets/exxon/index.htm

      Obama’s got nothing to do with it.

      1. Kevin says:

        The big companies and rich guys want Mitt Romney elected. So, they make sure gas prices are high so the economy will fall apart and everyone will blame Obama.

        1. Bill Steffen says:

          You’re right…rich guys like George Soros, Ted Turner, Jon Corzine and Warren Buffet??…and corporations like Google, Apple and Starbucks??…and those dastardly media companies…all Republican: http://mediadecoder.blogs.nytimes.com/2012/08/22/donations-by-media-companies-tilt-heavily-to-obama/

      2. Jack says:

        Ya Got The NOTHING Right. Bdbc…. That’s exactly what Obama has done….. NOTHING !!!!!!!!!!!!!!!!!!

  21. Jack says:

    Cue: LITTLE FEAT………. A POLITICAL BLUES..!!!!!!!!!

      1. Jack says:

        Post… Lowell George……. Rip….. L.G.

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