How much did you pay for gas today?

Because you live in the wrong state.
Paid 1.79 Friday

 

Best part about the drive down to NYC (besides the Sheetz at the midway point) for me is being able to stop in Jersey and get cheap gas. It's usually 20-30 cents more in NY and PA.

 

And you don't have to get out of the car and pump it yourself.

 

Gas has jumped 30 cents in less than two weeks here. What's the story with that?

 

It's crazy. I saw a story on that on cnn.com.

Apparently, as the Dow goes up, the oil futures market people think, "well if the economy is doing better, than people will pay more for gas", so the price goes up.

When the Dow is down they figure people won't pay as much for gas and the price goes down.

Stupid economics.

Oh and gas is up to $2.20 around here, up from $1.99 last week.

 

So at the first tiny sign of an economic rebound, the traders jack up gas prices? I loathe those guys.

 

Here's the story:
http://money.cnn.com/2009/05/12/markets/oil/index.htm?postversion=2009051210

They say the rise also comes because of a weakened dollar.

"Many oil traders view the stock market as a leading economic indicator and a barometer of future oil demand. As a result, the price of oil often rises and falls with the major stock indexes. "

 

Gas jumped from $1.90-something to $2.34, which is how much I paid earlier this morning.

It's fucking ridiculous that we're paying this much again, considering the prices we were paying just a few weeks ago.

 

The dollar is the currency standard for oil purchases. Hence, back when the Euro first started being used and became stronger than the dollar, oil spiked. If the government is printing more money, expect the dollar to be even weaker in the near future. Damnit.

Gas is just under 2.20 around here.

 

The oil companies are cutting their own throat. The market is saturated with crude. There's an oil storage terminal in Cushing, Okla. that is at capacity, and they're using supertankers to store oil. And all the while, they cut refinery output to a trickle and hit the pocketbooks of those of us left who can still afford to drive.

The dollar is still much higher against the euro than it was last summer when oil was spiking to $140 a barrel. But I guess any excuse is a handy one.

Big Oil deserves what's coming to them. And it's coming, believe me.

 

Big oil can get what it deserves, as long as I get a discount in the end. If the spiked price just goes to fund big government, then I'm still just as broke in the end.

 

Between $2.29 and $2.39 over here in The Land of LeBron. Hope the price doesn't jump much more, but expect that it will. Dumb oil industry. (I want to ride my bicycle.)