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What happened to gas prices?

Chester86

By Chester86
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Mr. Buddy Garrity

Mr. Buddy Garrity

Posted
Posted

Wasn't there an explosion at a refinery that supplies the west coast?

Lifting some sanctions on Iran allows them to enter the export market and this will drive the price per barrel down even more.

@kfor: $2 gas likely to return after Iran nuclear deal

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CraigS

CraigS

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Double edged sword for me. The company I work for relies heavily on deep sea drilling and drilling in general. Would rather pay more at the pump and have work. This affects lots of people.

​Most people don't realize that it WILL affect them also. They see the obvious of oil/gas people get laid off, and think that's due to prices dropping. However, when those people lose their good paying jobs and stop eating out, buying cars, going on vacations, stop buying new homes, stop flying, etc........then the layoffs start in all other industries due to these reductions.....however, there is a lag in time and those getting laid off don't realize it is a direct result of trickle down from falling gas prices.

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BLUEDOVE3

BLUEDOVE3

Posted
Posted

Whereas there is a balance. I'd be careful what you wish for, if gas prices plummet to far, well...it will be bad for a whole lot of people.

​I find that  interesting but true. Companies start laying off when the price falls for consumers. But at the same time, they can keep their jobs when prices are high and consumers buy less gas..

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ST413

ST413

Posted
Posted

​Most people don't realize that it WILL affect them also. They see the obvious of oil/gas people get laid off, and think that's due to prices dropping. However, when those people lose their good paying jobs and stop eating out, buying cars, going on vacations, stop buying new homes, stop flying, etc........then the layoffs start in all other industries due to these reductions.....however, there is a lag in time and those getting laid off don't realize it is a direct result of trickle down from falling gas prices.

This works both ways though, I was in the restaurant business for years and saw business drop off when gas prices rose as well.  

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LumRaiderFan

LumRaiderFan

Posted
Posted (edited)

​Just like politicians?

​

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From the article:

Based upon a $3.00 gallon of gasoline, the average break-down is as follows.

Gasoline Retailer $.01 cents per gallon
Oil Company $.08 cents per gallon
Refining $.29 cents per gallon
Marketing/Distribution $.32 cents per gallon
Taxes $.59 cents per gallon
Cost of crude $1.71 per gallon (delivered)

Who is gouging who?

Edited by LumRaiderFan
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