I remember driving somewhere on 9/11 and seeing some gas stations that had immediately raised their prices to $5/gallon. Obviously there was an outcry and by later that day all the prices had returned to their previous levels. Hard to tell in this situation what's really going on, as some refineries have obviously been damaged.
Onshore, wholesale gasoline suppliers have begun capping the amount of fuel they sell to retailers in certain markets to make sure retailers do not take delivery of more fuel than they actually need. Analysts said that while shortages have been reported in a small number markets, they do not believe the problem is widespread and they cautioned motorists not to top off tanks out of fear.
With retail gasoline prices surging to record highs and motorists facing $3 a gallon at the pump in a growing number of markets, BP PLC said in an e-mail to clients that it is making "pricing decisions with prudence and restraint in the wake of this natural disaster."
In other words, we are going to horde the supplies we have now so that our retailers can try to justify charging 5 bucks a gallon
With retail gasoline prices surging to record highs and motorists facing $3 a gallon at the pump in a growing number of markets, BP PLC said in an e-mail to clients that it is making "pricing decisions with prudence and restraint in the wake of this natural disaster."
In other words, we are going to horde the supplies we have now so that our retailers can try to justify charging 5 bucks a gallon
edub69 said:
9/11 there were not numerous missing oil rigs in the gulf of mexico and 25% or more refining capacity offline. NYC is a financial center and the Gulf states are where the refining and other transporting of gasoline originates.
Rest of nations refining was being 95% + utilized, so that is not an answer. The only answer is that price will rise to LOWER demand until the Gulf region refineries can resume operations.
t3a said:
Local BP right by my house has absolutely no regular or the medium stuff...
I am not sitting around and waiting for the shit to hit the fan folks....
Other gas stations in towns all around me just turned off the gas and put up a huge sign !!!! "We aint got no gas"
Its gonna get even worse because of all the sea ports found in the gulf region that were struck...
Even the SPR cant save us now...Because we shall lose as much gas at the out of funtion ports that cant unload ships as is being supplied by the SPR..
Even after that, there is bound to be a bottle neck at the refinaries when the other sea ports start taking delivery of oil from over seas!!!
Dicey situation folks.....dicey...
I am glad my regular job starts Tomorrow!!!!
