darn fuel prices

Reflex · **Joined:** Mon Jan 29, 2007 8:48 pm **Posts:** 567

The oil companies do not control speculators. Anyone can speculate on commodities, there is a whole trading market for it just like stocks. You can check the prices of commodities on Yahoo Finance or other such websites easily(I can post a link if you really care). That means its basically impossible to claim that speculators are actually the oil companies, speculators are anyone who decides to buy into those funds that buy commodities. As I know plenty of people buying commodities I can most assuredly say its not the oil companies themselves...

And before you think the oil companies are making all that much money than they used to, go look at the value of the dollar over the past seven years. Any international conglomerate is going to make 'more' than they did then even if they are making the same amount, after all the dollar is worth less, it takes two now to make the same profit you made seven years ago....

dieselenthusiast · **Posted:** Thu Mar 27, 2008 8:42 pm

I filled up the Cummins today and the pump shuts off at $100.00 dollars when using the credit card. This is the second time in the past week that I have put $100 dollars into the tank and it's still not FULL. I'm paying about $3.95 at the pump, but I get better fuel economy in my Cummins then some of you do in your CRD's. :shock:

warp2diesel · **Posted:** Thu Mar 27, 2008 10:59 pm

Oil companies do buy from the futures market. The only thing redeeming about them is that they buy as cheap as they can. Some of the oil they are using now was purchased cheaper on speculation months ago before the price is what it is now. Therefore, the high price reported in the news is most likely not what they are paying now. If an oil company buyer were to buy at the $110 per barrel price, the delivery would be in the future if and when they suspect it will go higher.

Speculators buy and hold hoping the price will rise and they can sell it for more. Unlike oil companies speculators do not route oil to the refinery to convert it into usable products. Speculators will sell and get out of the oil market when they think the price will drop. Since demand for oil does not look like it will soften, having the Dollar go up is the only chance for the price of oil going down. If the Dollar goes up and the price falls the speculators will not loose, even if we pay less at the pump.

The best thing that could happen now would be to grow the economy to strengthen the Dollar so we will all be better off.

JL Rockies · **Posted:** Fri Mar 28, 2008 9:25 am

A weak dollar can also be good for the economy.
Tourism increases, foreign investments increase, exports increase....etc.

warp2diesel · **Posted:** Fri Mar 28, 2008 9:32 am

JL Rockies wrote:

A weak dollar can also be good for the economy.
Tourism increases, foreign investments increase, exports increase....etc.

JL: Works as long as lon as the elected officials don't try to kill it off with more new taxes.

Die Hard Supply Sidere,

Steve

retmil46 · **Posted:** Fri Mar 28, 2008 12:35 pm

Reminds me of my grandfather's observations - he was born in 1892, and could remember every president since McKinley. In his view, the only thing that ever "trickled down" from Washington was when a dog lifted it's leg on a fire hydrant in front of the White House! :lol:

kcfoxie · **Joined:** Thu Mar 06, 2008 1:27 am **Posts:** 113

Seems we back down to below 3.90/gallon average in the Triangle of NC...

Cowpie1 · **Posted:** Fri Mar 28, 2008 11:45 pm

dieselenthusiast wrote:

I filled up the Cummins today and the pump shuts off at $100.00 dollars when using the credit card. This is the second time in the past week that I have put $100 dollars into the tank and it's still not FULL. I'm paying about $3.95 at the pump, but I get better fuel economy in my Cummins then some of you do in your CRD's. :shock:

My Cummins used almost 450 gallons this week. Let's see... around $1800 this week in fuel alone. Been that way since the first of the year, every week.

Oh, mine is a 14L ISX Cummins :shock:

. Sorry, forgot to mention that.

I do feel your pain on these prices. I see them EVERY day. I take on an average of 22600 gallons of fuel a year. At current prices, I will probably shell out close to $90K this year in fuel alone. Multiply that by over 2 million trucks operating in the U.S. and it gets to be a rather large amount.

Think you get bad fuel mileage? Try 6.5 mpg. My current mileage. Of course, I average a payload of over 30K lb in a 33K lb truck.

dieselenthusiast · **Posted:** Sat Mar 29, 2008 1:17 am

Diet Snapple 16 oz $1.29 ... $10.32 per gallon
Lipton Ice Tea 16 oz $1.19 ..........$9.52 per gallon
Gatorade 20 oz $1.59 ..... $10.17 per gallon
Ocean Spray 16 oz $1.25 ......... $10.00 per gallon
Brake Fluid 12 oz $3.15 ...... $33.60 per gallon
Vick's Nyquil 6 oz $8.35 ... $178.13 per gallon
Pepto Bismol 4 oz $3.85 .. $123.20 per gallon
Whiteout 7 oz $1.39 ....... . $25.42 per gallon
Scope 1.5 oz $0.99 .....$84.48 per gallon
Evian water 9 oz $1.49..$21.19 per gallon! $21.19 for WATER and the buyers don't even know the source
(Evian spelled backwards is Naive.)
Ever wonder why printers are so cheap?
So they have you hooked for the ink.
Someone calculated the cost of the ink at...............
(you won't believe it....but it is true........$5,200 a gal.)
So, the next time you're at the pump,be glad your car doesn't run on water, Scope, or Whiteout, Pepto Bismol, Nyquil or God forbid, Printer Ink!

darn fuel prices

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