Comments on: HOLY SMOKES! Retail gas prices to reach $5 in the South before Ike hits, over $4 here! http://www.thegasgame.com/2008/09/11/holy-smokes-retail-gas-prices-to-reach-5-in-the-south-before-ike-hits-over-4-here/ Keep track of gasoline prices, oil prices, future gasoline prices, future oil prices, see predictions, get price prediction, find gasoline prices, see if you're getting gouged, find news about diesel prices, ethanol prices, and refinery maintenance and refinery shutdowns. Tue, 07 Feb 2012 16:59:14 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Retailer http://www.thegasgame.com/2008/09/11/holy-smokes-retail-gas-prices-to-reach-5-in-the-south-before-ike-hits-over-4-here/comment-page-1/#comment-1697 Retailer Thu, 11 Sep 2008 23:12:49 +0000 http://www.thegasgame.com/2008/09/11/holy-smokes-retail-gas-prices-to-reach-5-in-the-south-before-ike-hits-over-4-here/#comment-1697 That was a very nice post Patrick, between that and your new hurricane page it should really show people how big of a problem that this could potentially be. Right now it looks like we might luck out with the wind speed staying low (at 100 now), but the potential for damage is still there. Some of the refineries damaged in 2005 took over 6 months to get back to full capacity. It's not like you can run down to the hardware store an pick up parts from the refinery isle. A lot of the parts take months to make replacements. Well, I was guessing that we would get a 10-15 cent increase in wholesale prices tonight and based on that I figured that Speedway would restore prices between $4.059 and $4.099. But, we ended up getting a 27 cent increase!!! So, $4.199+ very is possible! Sometimes when we have major increases like this or need to cross an even dollar, Speedway will decided to make a move to less than their normal restore markup. But, off the top of my head, I would guess that our cost is right around $4 and since it is a Friday anything they move to will have to last the weekend. So, I would be surprised if they did a small move. I also expect the oil companies to put the branded stations on allocation. Ryan: I really can't figure out why after all of these years of the futures market reacting to potential problems, it hasn't been reacting to a real supply problem. I guess the weak economy / dollar / demand cancel out major supply shortages. That was a very nice post Patrick, between that and your new hurricane page it should really show people how big of a problem that this could potentially be. Right now it looks like we might luck out with the wind speed staying low (at 100 now), but the potential for damage is still there. Some of the refineries damaged in 2005 took over 6 months to get back to full capacity. It’s not like you can run down to the hardware store an pick up parts from the refinery isle. A lot of the parts take months to make replacements.

Well, I was guessing that we would get a 10-15 cent increase in wholesale prices tonight and based on that I figured that Speedway would restore prices between $4.059 and $4.099.

But, we ended up getting a 27 cent increase!!! So, $4.199+ very is possible!

Sometimes when we have major increases like this or need to cross an even dollar, Speedway will decided to make a move to less than their normal restore markup. But, off the top of my head, I would guess that our cost is right around $4 and since it is a Friday anything they move to will have to last the weekend. So, I would be surprised if they did a small move. I also expect the oil companies to put the branded stations on allocation.

Ryan: I really can’t figure out why after all of these years of the futures market reacting to potential problems, it hasn’t been reacting to a real supply problem. I guess the weak economy / dollar / demand cancel out major supply shortages.

]]> By: Ryan http://www.thegasgame.com/2008/09/11/holy-smokes-retail-gas-prices-to-reach-5-in-the-south-before-ike-hits-over-4-here/comment-page-1/#comment-1695 Ryan Thu, 11 Sep 2008 19:05:07 +0000 http://www.thegasgame.com/2008/09/11/holy-smokes-retail-gas-prices-to-reach-5-in-the-south-before-ike-hits-over-4-here/#comment-1695 So then why is crude on the NYMEX barely above $100?? So then why is crude on the NYMEX barely above $100??

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