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Nzoner's Game Room>Gasoline over $4 coming to a pump near you because this thread is ass
Donger 08:40 AM 04-23-2007
http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

Spoiler!

[Reply]
Donger 11:11 AM 08-21-2015
Originally Posted by petegz28:
meanwhile gas prices aren't dropping because oh yeah..the "unexpected repairs" at a refinery...in fact I think they may have gone up overnight...
Which is why I asked you about a specific date you had in mind.
[Reply]
petegz28 11:12 AM 08-21-2015
Originally Posted by Donger:
Which is why I asked you about a specific date you had in mind.
No it isn't....you were\are trying to be purposely obtuse for some reason...

Oil hits it's lowest price in over 6 years and gas is no where even close to the lows of this year......justify that ....oh wait...refinery...my bad
[Reply]
Donger 11:15 AM 08-21-2015
Originally Posted by petegz28:
No it isn't....you were\are trying to be purposely obtuse for some reason...

Oil hits it's lowest price in over 6 years and gas is no where even close to the lows of this year......justify that ....oh wait...refinery...my bad
Actually, it was. Yes, the refinery issue in Indiana is keeping prices higher than they normally would be. And, the situation in California is still no where near normal. So, add those two together and you get higher than normal average pricing relative to crude.

There are a few other items which significantly contribute to the higher than usual price delta.
[Reply]
petegz28 11:16 AM 08-21-2015
Originally Posted by Donger:
Actually, it was. Yes, the refinery issue in Indiana is keeping prices higher than they normally would be. And, the situation in California is still no where near normal. So, add those two together and you get higher than normal average pricing relative to crude.

There are a few other items which significantly contribute to the higher than usual price delta.
Right..the "unexpected repairs" needed at a refinery. Which come just at the time when oil is crashing....and is expected to last for the remainder of the summer driving season....

so fucking convenient...
[Reply]
Donger 11:19 AM 08-21-2015
Originally Posted by petegz28:
Right..the "unexpected repairs" needed at a refinery. Which come just at the time when oil is crashing....and is expected to last for the remainder of the summer driving season....

so ****ing convenient...
Convenient for who, exactly? Certainly not the refiner.
[Reply]
petegz28 11:23 AM 08-21-2015
Originally Posted by Donger:
Convenient for who, exactly? Certainly not the refiner.
WHAT? Are you that bad at math? They are getting oil cheaper now than they have in years. The "increased cost" due to the "unexpected repairs" is being passed along to the consumer. Just ****ing wow, Donger.
[Reply]
Donger 11:28 AM 08-21-2015
Originally Posted by petegz28:
WHAT? Are you that bad at math? They are getting oil cheaper now than they have in years. The "increased cost" due to the "unexpected repairs" is being passed along to the consumer. Just ****ing wow, Donger.
Pete, when a refinery shutsdown, they aren't refining crude and selling the refined products. So, yes, refiners REALLY don't like shutting down.
[Reply]
petegz28 11:32 AM 08-21-2015
Originally Posted by Donger:
Pete, when a refinery shutsdown, they aren't refining crude and selling the refined products. So, yes, refiners REALLY don't like shutting down.
It's a partial shutdown. My God, man are you really this naive?
[Reply]
Donger 11:42 AM 08-21-2015
Originally Posted by petegz28:
It's a partial shutdown. My God, man are you really this naive?
Correct, I hadn't completely read up on the situation:

Prices are expected to continue to rise in the short term, as BP’s refinery in Whiting, Indiana — the largest in the Midwest and seventh-largest in the nation — wrestles with “unscheduled repair work” that shut down the biggest of its three crude distillation units Aug. 8.

So, you are asserting that BP decided to intentionally shutdown the biggest of its three DUs in order to raise prices of the gasoline, correct? In essence, willingly remove more than one third of its refining capacity, as well.
[Reply]
ThaVirus 11:45 AM 08-21-2015
So when all of these refineries wrap up their maintenance and shutdowns, assuming crude maintains its current trade price, will we see a massive fall in gas prices or will it be incremental? Or will it happen at all?
[Reply]
petegz28 11:46 AM 08-21-2015
Originally Posted by Donger:
Correct, I hadn't completely read up on the situation:

Prices are expected to continue to rise in the short term, as BP’s refinery in Whiting, Indiana — the largest in the Midwest and seventh-largest in the nation — wrestles with “unscheduled repair work” that shut down the biggest of its three crude distillation units Aug. 8.

So, you are asserting that BP decided to intentionally shutdown the biggest of its three DUs in order to raise prices of the gasoline, correct? In essence, willingly remove more than one third of its refining capacity, as well.
I'm saying that with the oil industry crying over lower oil prices, it' a remarkable coincidence that these "unexpected repairs" come about right at the beginning of yet another sell off in oil that is taking prices to multi-year lows....

I'm sure when BP reports their record profits, this won't be brought up
[Reply]
petegz28 11:47 AM 08-21-2015
Originally Posted by ThaVirus:
So when all of these refineries wrap up their maintenance and shutdowns, assuming crude maintains its current trade price, will we see a massive fall in gas prices or will it be incremental? Or will it happen at all?
"Experts" say the price will decline once the refinery is back online. Now of course, that assumes that oil hasn't gone back up in price in the mean time.
[Reply]
Donger 11:52 AM 08-21-2015
Originally Posted by ThaVirus:
So when all of these refineries wrap up their maintenance and shutdowns, assuming crude maintains its current trade price, will we see a massive fall in gas prices or will it be incremental? Or will it happen at all?
Yes.
[Reply]
Donger 11:52 AM 08-21-2015
Originally Posted by petegz28:
I'm saying that with the oil industry crying over lower oil prices, it' a remarkable coincidence that these "unexpected repairs" come about right at the beginning of yet another sell off in oil that is taking prices to multi-year lows....

I'm sure when BP reports their record profits, this won't be brought up
No, it really isn't and it goes back to why I asked you about dates. Do you know what time of year it is?
[Reply]
petegz28 11:54 AM 08-21-2015
Originally Posted by Donger:
No, it really isn't and it goes back to why I asked you about dates. Do you know what time of year it is?
JFC, donger, are you going to use the summer gas excuse now?
[Reply]
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