Post Hurricane Gas Prices

[Panzerman]

I went to work last night and I have a fairly long drive plus I went one way to work another way home and noticed that All the gas stations seem to agree on $2.49 a gallon.
I probably passed 20 or more gas stations and all of them 2.49, which is funny because they all varied the night before. I am thinking all the gas stations are speculating and just agreed on $2.49. A bit to broad across the board for 20+ stations in a 60 mile radius. Weird.

 

[gathermewool]

What were they before?

 

[Panzerman]

The night before anywhere from 2.26 to 2.38 a gallon. So it's a big jump.
Before the hurricane on Monday/ Tuesday it was 2.18 to 2.27

 

[user52165]

It's also Labor Day Weekend.

 

[ZeeOSix]

Originally Posted By: Panzerman
The night before anywhere from 2.26 to 2.38 a gallon. So it's a big jump.
Before the hurricane on Monday/ Tuesday it was 2.18 to 2.27

I see 10 cents per gallon fluctuations all the time which is normal here with no disasterss going on. If I saw 50+ cents per gallon fluctuations over a few days then I'd be concerned.

 

[CharBaby]

Yep!
We were at $2.19-$2.25
Now all station seem to be at $2.49-$2.59

 

[Garak]

They went up here a bit, too, but there seems to be a "disagreement" between Esso and Shell what the price should be.

 

[bbhero]

That's not a big jump Panzerman. Try 70 plus cents in 24 after Hurricane Katrina. I saw prices go from $2.66 a gallon to $3.39 a gallon in a day after Katrina. Now that was astounding. Funny note to this.... One station was at $2.87 a gollon while the others were much higher. I guess the gas station at Ark had not gotten the message yet.

 

[demarpaint]

I thought it was going to be worse.........So far only a dime a gallon more, not quite the hosing I was expecting.

 

[earlyre]

weds afternoon we "jumped" from $2.22 to $2.59

 

[L_Sludger]

I'm fully hedged. I have a Barely running 2002 Honda Insight waiting in the wings for bull hockey like this situation!

 

[Olas]

The aim of running a business is to generate profit, which is exactly what's happening here.
Why the concern?

 

[L_Sludger]

Originally Posted By: earlyre
weds afternoon we "jumped" from $2.22 to $2.59
yeah it's just pure profiteering right now.

 

[Coprolite]

I assume you are referring to the wall street speculation and not the average joe gas station. The average gas station margin on gas is horrible, which is why they all have convenience stores that emphasize convenience over value for the goods sold.


Originally Posted By: Olas
The aim of running a business is to generate profit, which is exactly what's happening here.
Why the concern?

 

[Rat407]

Prices here went from $2.18 to $2.58 a gallon for regular.

 

[chiefsfan1]

$2.59 here in KC. It was $2.19. Premium was $3.06.

 

[Olas]

Originally Posted By: Coprolite
I assume you are referring to the wall street speculation and not the average joe gas station. The average gas station margin on gas is horrible, which is why they all have convenience stores that emphasize convenience over value for the goods sold.


Originally Posted By: Olas
The aim of running a business is to generate profit, which is exactly what's happening here.
Why the concern?


The location and ownership of the gas station is immaterial - price is set where supply meets demand, hence the current pricing. (which also boots their 'horrible' margins)

 

[Coprolite]

The refining profit generated by the storm is one that I bet the refiners would rather not have. They'd rather have everything online and running normally. Any increase in cost might help pay to get the plants back up and running, but probably not completely.

My point was that this isn't profiteering by the gas stations or anybody in the chain, just simply a reaction to the events. Unfortunately, in a market economy, the increase in sales revenue doesn't always go to the suppliers that had to bear the remediation costs.

 

[Olas]

You fill the storage tanks at a set price and you expect x% return.

Then the floods come and you increase your prices.

Well you already have a full storage tank and now your sale price goes up so you make more margin.

 

[Panzerman]

It's not really the jump in price I find strange and I am sure it will go higher and living in a tourist Meca I am used to holiday/ special event spiking. What I find "Interesting" is the broad across the board 2.49. No fluctuations at all in over 20 stations. That's strange.