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GasBuddy News Article

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Gas $ expected to jump 10-20 cents

CNBC -- Gasoline is expected to jump 10 to 20 cents per gallon in the next several days, as rising oil prices and peak driving season create a perfect storm for higher prices.

Industry experts say gasoline prices at the pump should follow the already higher prices in the spot wholesale market. The national average at the pump Wednesday was $3.50 per gallon for unleaded gasoline, up two cents from Tuesday's level, according to AAA's Fuel Gauge report.


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Submitted Jul 11, 2013 By: GreatGraphics
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Gas $ expected to jump 10-20 cents Back to Topics
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

Posts:24,310
Points:2,437,590
Joined:Nov 2008
Message Posted: Jul 17, 2013 12:04:16 AM

expected? Already did, and more than 20 cents in most cases here. No real reason.
sarasotasingle
Champion Author Sarasota

Posts:4,213
Points:1,058,505
Joined:Jun 2012
Message Posted: Jul 15, 2013 7:02:00 PM

This is my thought today...When the American people stand up and demand A source of affordable oil you will see oil prices slip.American oil development is expensive if you feel A few thousand US oil jobs are worth $4.oo+gal gas then stop complaining about the price.I belive low gas prices(if they stay low no more than $2.00gal)will promote TRUE job creation-in the millions of jobs.Drop all taxes on gas immediately,lets have A vote to buy out speculators(gasoline is much too necessary for this much fluctuation)Ill pay A thousand dollars today for that.Lets have oil companies guarantee A price for the year say $2.50gal to $2.75gal and if it goes higher prove why-is that to much to ask?We have the buying power of hundreds of millions of people.This is A world market why do we have no say at all?
If agree Buddy me !!!
eomc17
Champion Author Tucson

Posts:2,218
Points:158,010
Joined:Mar 2007
Message Posted: Jul 12, 2013 3:15:11 AM

Yay. Speculators and big oil are plundering our pockets for their vastly overpriced oil and gas again, with our government's approval. If you don't like the prices, complain to your president, vice-president, senator, and congressman/woman, tell them to get off their asses and give the CFTC the money it needs to curb speculation, which it was required to do THIRTY MONTHS AGO, but never got the funding from Washington to enact or enforce.

Shameful when our politicians get to pick and choose which laws or regulations they choose to enact, enforce, or completely ignore.
oldmack
Champion Author Riverside

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Message Posted: Jul 12, 2013 2:15:50 AM

ok
DrCashFlow
Champion Author Massachusetts

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Message Posted: Jul 12, 2013 1:41:09 AM

Can't wait
JuicyQ69
All-Star Author San Bernardino

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Message Posted: Jul 12, 2013 1:01:26 AM

Sooo tired of this bullsh....!
Tsunamiron
Champion Author Jacksonville

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Points:1,358,000
Joined:Mar 2011
Message Posted: Jul 12, 2013 12:10:00 AM

It just jumped 15¢ this week. Another 10-20¢ can be expected?

It's getting too expensive to fill up my motorcycle again -- $23 for a tank full.

Not very long ago I could fill the tank in my car for under $10.
boatmen
Champion Author New York

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Message Posted: Jul 12, 2013 12:04:30 AM

up up down up up up
bolobill
Champion Author Michigan

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Message Posted: Jul 12, 2013 12:03:53 AM

ok
rahcat
Champion Author Grand Rapids

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Message Posted: Jul 12, 2013 12:01:18 AM

Already has here in Michigan
Buddy2264
Champion Author Tampa

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Message Posted: Jul 12, 2013 12:00:42 AM

And just yesterday or the day before an article said they would be coming down.
cssco
Champion Author Virginia

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Message Posted: Jul 12, 2013 12:00:27 AM

yes
Double_Golden
Champion Author San Francisco

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Message Posted: Jul 11, 2013 11:43:06 PM

the roller coaster is going up this time...
toadNY
Champion Author Albany

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Message Posted: Jul 11, 2013 11:38:29 PM

One station I go by every day up, .15 cent in less than a week.
frugalshopper
Veteran Author Syracuse

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Message Posted: Jul 11, 2013 11:36:43 PM

The oil companies will come up with any excuse to gouge. Bring it on and watch the economy to tank again.
beachmanglen
Champion Author Tampa

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Points:1,099,475
Joined:Aug 2011
Message Posted: Jul 11, 2013 11:35:47 PM

I agree. Everyone in the gas supply chain has to move the product. There are large costs associated with holding inventory. If it gets too excessive, the refineries will have no where to store the gas. Thus, as inventories fall, demand rises, and prices rise.
TornadoRed
Champion Author Minnesota

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Message Posted: Jul 11, 2013 11:32:03 PM

Okay, one more time:

The gasoline market is structured so that everyone -- refiners, terminal operators, and fuel station managers -- tries to get rid of gasoline as quickly as possible. Holding an inventory that's more than what's needed immediately locks in a guaranteed loss.

This has been especially true during the recent price declines. But it's also true when prices are steady.

So if everyone in the supply chain has tried to keep minimal stocks on hand. And then, when there is a slight shock to the market, the people who were selling everything they had as quickly as they could, suddenly decided to hold off for a while. Supplies are not that different from before, demand is not much different, but suddenly the desire to sell is not quite so strong. And anyone who needs to buy fuel is finding that the sellers are not as eager as just a week or two ago.

This is going to keep happening, over and over again, until the markets begin to make it profitable to hold on to bigger inventories of gasoline. It's already been a couple years since buy-and-hold has made sense.
Carol7777
Champion Author Houston

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Message Posted: Jul 11, 2013 11:29:37 PM

It already jumped that much at many stations in Houston this week. It's depressing!
ican2step
Champion Author Pittsburgh

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Message Posted: Jul 11, 2013 11:29:25 PM

Here we go...
fourdezzzz
Champion Author Atlanta

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Message Posted: Jul 11, 2013 11:28:58 PM

Expect the expected
STLCARDSNATION
Champion Author Illinois

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Message Posted: Jul 11, 2013 11:23:36 PM

NOT GOOD TO HEAR!
nd73
Champion Author Grand Rapids

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Message Posted: Jul 11, 2013 11:23:24 PM

2 price spikes in 3 days, up 16%. And why???? Just cuz.
badgames
Veteran Author Albuquerque

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Message Posted: Jul 11, 2013 11:23:17 PM

Summertime, summertime, summertime, summertime, summertime...
Cableman66
Champion Author North Carolina

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Message Posted: Jul 11, 2013 11:21:38 PM

So what's new about this cycle.
30mpg80
Champion Author Lexington

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Message Posted: Jul 11, 2013 11:20:01 PM

Warning is too late! Already went up here!
AC-302
Champion Author Los Angeles

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Message Posted: Jul 11, 2013 11:18:51 PM

Ouch!
woodeye55
Champion Author Gary

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Message Posted: Jul 11, 2013 11:17:47 PM

Expected? It happened!
BREW9
Champion Author Tampa

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Message Posted: Jul 11, 2013 11:15:20 PM

summer ripoff
pgerassi
Champion Author Milwaukee

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Message Posted: Jul 11, 2013 11:15:05 PM

BAD!
osu1
Veteran Author Ohio

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Joined:Sep 2006
Message Posted: Jul 11, 2013 11:12:46 PM

In Northwest Ohio I got gas for $3.15 on Sunday. By today the same station was up to $3.69. Up 54 cents a gallon in four days.
SNOWMI
Champion Author Michigan

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Points:1,049,130
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Message Posted: Jul 11, 2013 11:11:33 PM

Jumped up to 3.85 where I live
SNOWMI
Champion Author Michigan

Posts:6,775
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Message Posted: Jul 11, 2013 11:10:45 PM

Jumping 10 or 20 cents is nothing. It happens so often, sometimes 50 cents.
Today it jumped 29 cents.
crmedic
Champion Author Arkansas

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Message Posted: Jul 11, 2013 11:10:26 PM

Just mention it, they shot up today!
DragonLady76
Champion Author Illinois

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Message Posted: Jul 11, 2013 11:09:55 PM

RATS!
BoerneWatch
Champion Author San Antonio

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Message Posted: Jul 11, 2013 11:09:22 PM

Uh, wholesale is up by a quarter.
lesndave
Champion Author Texas

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Message Posted: Jul 11, 2013 11:08:39 PM

Up 14 cents here since yesterday.
minookaband
Champion Author Illinois

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Message Posted: Jul 11, 2013 11:08:13 PM

of course!
gta_guy
Champion Author Toronto

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Message Posted: Jul 11, 2013 11:04:52 PM

A "perfect storm" for higher prices...wonderful!
Kamakani
Champion Author Denver

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Message Posted: Jul 11, 2013 11:04:08 PM

Just dropped 8 cents here since yesterday.
erbyfub
Champion Author Raleigh

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Message Posted: Jul 11, 2013 11:02:58 PM

Probably
PatrickHenry
Champion Author Illinois

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Message Posted: Jul 11, 2013 11:02:52 PM

Time will tell.
floridakeys
Champion Author Columbus

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Message Posted: Jul 11, 2013 11:02:47 PM

Yup......it did just that
L2J
Champion Author Texas

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Message Posted: Jul 11, 2013 11:02:08 PM


It did already or are they saying again?
treeguy
Veteran Author Wisconsin

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Joined:Aug 2005
Message Posted: Jul 11, 2013 11:02:06 PM

Leeches.
Gas4Gore
Champion Author Detroit

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Message Posted: Jul 11, 2013 11:01:19 PM

Already has.
KentuckyWildcat
Champion Author Maryland

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Message Posted: Jul 11, 2013 11:01:07 PM

great
jimedB
Champion Author Riverside

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Message Posted: Jul 11, 2013 10:59:55 PM

Its summer. What do we expect. This has been the normal for a long time now.
Johnnyrebell12
Champion Author Massachusetts

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Message Posted: Jul 11, 2013 10:59:06 PM

Here we go again
mfgendron
Champion Author New York

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Message Posted: Jul 11, 2013 10:57:57 PM

already has...and will keep rising till september.
mrbee
Champion Author Little Rock

Posts:7,135
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Message Posted: Jul 11, 2013 10:57:26 PM

Already has.
bpj13
Champion Author North Carolina

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Joined:Oct 2009
Message Posted: Jul 11, 2013 10:56:53 PM

It just jumped $.10 this week alone.
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