Updated 9/1/05 - 12:50pm
Sunday: $2.59
Monday: $2.69
Tuesday Morning: $2.79
Tuesday Afternoon: $2.89
Wednesday Morning: $2.99
Wednesday Afternoon: $3.10
Wednesday After Afternoon: $3.15
Thursday Morning: $3.18
Thursday Afternoon: $3.25
How can they raise prices before any extent of damage to oil refineries are even known? Because any damange to oil rigs should have no to little effect on oil quantities. The real problem is the refineries, which turn oil into gas.
Updated: I also just read (I think on Malkins site) that the refineries were fine and they would be able to be up and running within hours of getting power back. So if the refineries are fine why all the panic?
Posted by Quality Weenie at September 1, 2005 01:00 AM | TrackBackpanic
Posted by: ArmyWifeToddlerMom at August 31, 2005 11:48 AMWhy raise the prices? Because they can.
Posted by: Ogre at August 31, 2005 03:43 PMWhy raise the prices?
Because the consumers are panicking, and jacking up the prices is the only way to keep these panicky people from buying up cheap gas and causing shortages.
It's a temporary spike. Prices will drop after people take a few deep breaths.
Posted by: Harvey at September 1, 2005 12:03 AMLast I heard the refineries weren't fine but that could just be spin. After all, they need an excuse other than opinion poll numbers to release oil from the stretegic reserve. Crude oil, that is. That needs refining--which we don't have the capacity for. LOL Politicians!
Here in the RTP area of NC the gas just jumped to $2.99. I had to drive across several towns today and it's a very uniform price. I only saw 2 stations across the street from one another that had different prices--they're were both at $2.79 which was the typical price 2 days ago.
Posted by: Utenzi at September 1, 2005 12:30 AMThe refineries are fine, but the supply is not. They lost rigs.
Posted by: Bou at September 2, 2005 08:31 PM