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Airhog1 · 09-12-2008, 10:26 AM

Gas has gone up in some Arkansas towns from $3.65 per gallon last night to $4.50 this morning.

Folks are lining up at local stations to buy it as cheap as they can...the station down the street from our dealership has gone up .40 per gallon already.

This is nuts!

Is it just happening around here or is it happening where you are too?

G

ALANSD · 09-12-2008, 10:43 AM

Its the IKE scare. Prices on the world market for crude have been going down for weeks, so once the storm passes and we get into October, gas prices should drop way down, if you can call $3.00 way down.

Airhog1 · 09-12-2008, 10:48 AM

Yep...I have a friend that owns a gas co. here in town and they told us yesterday that it was going up since they are closing the refineries...but give me a break.

A customer just called an he saw it at $5.01 in Pine Bluff, AR!!!!

G

maccamper · 09-12-2008, 11:59 AM

Quote:

Originally Posted by Airhog1

Yep...I have a friend that owns a gas co. here in town and they told us yesterday that it was going up since they are closing the refineries...but give me a break.

A customer just called an he saw it at $5.01 in Pine Bluff, AR!!!!

G

Oh joy ...

We're heading to Hot Springs next week. I was glad to see that gas prices had started to go down -- guess that won't be the case now. In Bloomington, IL we're seeing gas prices range from 3.79 to 4.07 a gallon for regular unleaded. That's up about 20 cents a gallon from last week.

Nancy Mac

soldiermedic · 09-12-2008, 12:06 PM

I just filled up at $3.69 a gallon....we're expecting a surge due to IKE

Steve

jsprad · 09-12-2008, 12:13 PM

Can someone explain this to me? Gas, already in tanks in the ground, goes up in proce beacuse of what MIGHT happen? I understand the refineries shut down temporarily, but we have been using less and hearing about excess supply. I run a service business, I can now charge my clients more today beacuse of what might happen next week? Do I just not understand something? What am I missing? By the way, oil went down yesterday to about $1.01 per barrel...loqwest in months.

Isadora · 09-12-2008, 12:22 PM

Blame it on Ike----if he hits Houston and the refineries and off-shore drilling are damaged, that cuts out a lot of our oil and the price will go up. 'Course, since oil prices are determined by futures, instead of real time, they have already gone up. Let's hope that Ike takes a turn for the milder and doesn't damage anything and the price will drop again. Otherwise, according to those who think they are in the know, it may go up as high as $6 a gallon, or so I heard on talk radio this morning.

It jumped .20 a gallon overnight in Joplin.

jsprad · 09-12-2008, 12:52 PM

I understand the Ike efffect...what I don't understand is how the gas in the ground at a local station...how does that gas go up by $.50 per gallon in the time it takes to change the sign? The gas in the tank in the ground didn't go up in price by sitting in the ground.

soldiermedic · 09-12-2008, 12:54 PM

No, but then again, when the price drops 30 cents overnight, the gas in the ground that was bought at a higher price is being sold less than what it was bought for.

DRILL DRILL DRILL

Steve

**azflycaster** · 09-12-2008, 12:57 PM

We are not seeing any effects of IKE here in Phoenix (yet). Just got home from Costco and regular gas was selling at $3.29

digger bear · 09-12-2008, 01:01 PM

Shocking price at the pump but...

It just dropped below 100.00 a barrel in trading today.

Whats wrong with this picture?

ncbambi · 09-12-2008, 01:06 PM

South Carolina gas is up over $5 a gallon. NC stations running out of gas, or holding on to it, waiting to hike it up after IKE. There should be a law, and where is the govrnmt looking into this one? Gas went up .50 in 3 hours and the station owners are blocking off their pumps. I don't know about where you are, but there are a lot of good ole' boys up with very dramatic opinions! Gas up here in the mtns $4

rickandsandi · 09-12-2008, 01:15 PM

I had received several emails during the day advising that consumer gas prices would be going up $1.00 per gallon today. The first one I ignored, the second one I read, now it seems to becoming true. With the countries largest refinery being shut down everyone is thinking time to make the profits! Well we all know know that what ever goes down must go back up. Our little local Sunoco was $3.74 for regular this morning, I am very curious what he will be when we get home.

jsprad · 09-12-2008, 01:30 PM

Well, maybe where you guys are, but gas here comes down much slower than it goes up...up $.50 in one day. It will takes a week or two at least to come down that much.

Craig Schrader · 09-12-2008, 01:41 PM

A topic I am close too, just finnished working 32 hours straight shutting down the oil refinery I work at in Port Arthur Texas. Only the second time during the plants 107 year history that it has been completely shut down. last time was Hurricane Rita (just after Katrina), now it Ikes turn to drive fuel prices out the roof.
Hurricane Gustav shut down alot of refineries in Louisiana, now Ike has shut down refiners from Corpus Christie to Port Arthur. At least ten refineries are down or drasticlly reduced due to the storm. The plant I work at produces upward of ten million gallons of Diesel and gasoline a day, now times ten and you get the picture of what has been taken out of the supply.
It could be months for refiner restarts iif the strom surge reaches the forecasted 15-20 foot in our area. I just hope I have a job to go back too!!!
Craig

Airhog1 · 09-12-2008, 01:44 PM

Go Gov!!!

He is from our hometown and is cracking down on this crap quickly!!!

Y-Ike! Gas Prices Surge, Beebe Declares State Emergency - todaysthv.com | KTHV | Little Rock, AR

G

overlander63 · 09-12-2008, 04:39 PM

I was out today, and gas was $3.62 this afternoon. 5 minutes ago, it was $4.49, and people were lined up into the street to buy it. Part of the price jump is panic buying by consumers.
I am going to wait until I need to buy gas before I worry about it, by then the price may have dropped back again--or gone even higher. You place your bets, and you take your chances.

rickandsandi · 09-15-2008, 08:53 AM

As of this morning futures are tumbling big time, when will we see relief at the pumps? Probably never. Trading under $100 and was as low as $94 (USD) earlier in London this morning.

dufferin · 09-15-2008, 09:51 AM

I don't even want to comment so pissed off I am...

**jcanavera** · 09-15-2008, 11:14 AM

Quote:

Originally Posted by Airhog1

Gas has gone up in some Arkansas towns from $3.65 per gallon last night to $4.50 this morning.

Folks are lining up at local stations to buy it as cheap as they can...the station down the street from our dealership has gone up .40 per gallon already.

This is nuts!

Is it just happening around here or is it happening where you are too?

G

Apparently the major midwest pipeline which supplies about 700,000 gallons daily was shut down due to the storm. We went up as high as $3.79 for unleaded. QT which has 79 stations in the metro area is one of the prime users of this pipeline. Over the weekend they suspended gas sales to 17 of their stations due to lack of supply. We've not seen any other retailer having to curtail sales other than QT.

I heard it might take as long as 9 days to restart the pipeline.

Jack