STORM2K

Strained oil inventories and frigid temperatures have brought rising gasoline prices for motorists in Mississippi and across the nation. The Department of Energy reported last week that the average retail gasoline price increased to a $1.56 per gallon nationwide, which is 5 cents more than the previous week and 10.6 cents above the same time last year.

"We had a big wholesale price hike on Saturday, and it just looks like the oil companies are doing everything they can to raise the prices even more,'' said Jimmy Andrews, general manager of M.C. Herringbone Oil in Olive Branch.

"It's just that oil is in such short supply now,'' said Andrews. "The price of crude oil has hit $35 a barrel, and that is a 10-month high.''

The Energy Department reported that U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, are the lowest since the fall of 1975.

Andrews said local prices have fluctuated according to the international market but remain high, ranging from $1.56 a gallon to $1.60. He said he doesn't know what to expect in coming months.

"OPEC is scheduled to meet in February, and they could cut production, which would send prices even higher,'' Andrews said.

Don Reedman, public affairs spokesman for the AAA travel group, said a number of economic factors are impacting the price of petroleum products.

"Our inventories are at the lowest levels we've seen for quite a while,'' Reedman said. "We saw two price spikes in the spring and again in August and prices have been high.

"Now we've had an arctic blast and refineries are having to shift over to refining home heating oil, and that is affecting the supply of gasoline,'' he said.

Reedman said he does not expect to see gas prices falling anytime soon.

"I think it is safe to say, at least for the near future, that prices are either going to go up even more or they will stay where they are, which is still high,'' he said.

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And the left says we went to war for oil? Hmmmmm...

We're at 1.59 gal......dirty rotten SOB'S, it's prime ski season, of COURSE their gonna raise the prices....first they screw the summer tourists, then they screw the skiers, as if lift tickets weren't high enough! AH WELL, guess that's the price I pay for living in paradise!

Dennis

Dennis - its not only in paradise its everywhere. Prices had dropped to $1.28 per gallon here in SE texas - well guess what - they skyrocketed back up to 1.45+ now.

Am I mad - hell yes I am

Don't feel bad... it's $1.85 for regular here...

Prices had dropped to 1.53 at different stations, then the state banned MTBE or whatever that additive was, and the alternative, which was cheaper for the gas companies to use, and didn't pollute the environment caused a 10 cent spike in a week. Along with other factors, we are looking at 1.77. I go through the "RES" once a week so I fill it up for 1.47 tax free (at least until Governor Pataki gets his hands on that money too)

Natural Gas is at an all time high too. I am so sick of all this price gouging. They go up in the summer and natural gas goes up in the winter. Dept. of Energy needs to launch an investigation. Those hybrid cars are looking better and better to me.

All those people saying we went to war for the oil are not screaming that bull now are they.

This is nothing more than good old American greed at work. Theyr'e selling tons of heating oil at inflated prices and at the same time raising the gas prices because they're producing more heating oil. They win on both sides of the fence.

They went from around $1.28 to $1.42 around here, that just irritates me!!

Here they went from 1.28 to 1.58 now. BS if you ask me. Oh btw that 1.58 is at a time during the week when the morons around here have them down and by Friday i expect them to be at 1.70+!!!
Like the big guys the local stations here pull the same crap so we end up getting the double stiff!!!!

I guess that's where I am not unhappy. The little guys here only raised their prices a couple of cents. It is Mobil that raised theirs 15 cents. Well, I am going to the "res" tomorrow, so I can get it for 30 cents cheaper than Mobil

Lindaloo wrote:Natural Gas is at an all time high too. I am so sick of all this price gouging. They go up in the summer and natural gas goes up in the winter. Dept. of Energy needs to launch an investigation. Those hybrid cars are looking better and better to me.

All those people saying we went to war for the oil are not screaming that bull now are they.

Iraq is another potential source for oil.

Nothing really came of the "investigation" of what happened during August - October with the gasoline prices. I know the pipe-line problem and the blackout were "culprits", but I'm sure we'll never found out for sure.

The gas has gone up about 10 cents around here too. I'm paying $1.53 for plus.

Every time gasoline prices have come up, I seem to enjoy the lowest bid...here, it's $1.30 for regular unleaded. With an increase last weekend...before, it stood at $1.26.

At the same time, my oil/gas royalty checks have been unusually paltry for the last quarter...both combined under $40 (normally 2-to-3 times that amount). What's going on?

$1.64 here BS!!!

gas prices here 1.49. my gas bill this last month was high and thats at keeping the house around 65 and really not that cold. alot of friends complaining about 300 plus bills. boy i would sure hate to live up north with the prices like they r.

streetsoldier wrote:Every time gasoline prices have come up, I seem to enjoy the lowest bid...here, it's $1.30 for regular unleaded. With an increase last weekend...before, it stood at $1.26.

At the same time, my oil/gas royalty checks have been unusually paltry for the last quarter...both combined under $40 (normally 2-to-3 times that amount). What's going on?

Is there anyone you can ask? I'd be calling someone myself!

Streetsoldier, my mom has rights to a couple of wells. One is producing gas and her royalty checks are shoddy! Basically, she's giving away the oil and gas while the company that works them is making a killing!

Gas around here is around 1.56 for reg. unleaded. Butane for heating the house is OUTRAGEOUS! We bought 100 gallons a couple of wks ago and it was almost $170.00.
Isn't it odd how it appears the prices go up during the time when the demand is high? Somebody is lining their pockets and you can believe it ain't the "little guy".

Steph,

The only thing I can think of is that our Government is "conserving" U.S. natural gas and crude again (which means they're buying more foreign $#!+).

My checks reflect only what is taken out of the wells (which are part of leases generated by my wise, canny grandfather in the 1930's).

Your grandfather was a very wise man!

Yes, he was...one other thing that affects output is that the EPA, together with OSHA, have reduced U.S. refining capabilities to only 14 refineries...this forces the oil companies to cut one product (gasoline) in favor of another (heating oil), thus raising your pump prices.

Time for DEREGULATION, friends...and to #*!! with enviro wackos.

stormy wrote:gas prices here 1.49. my gas bill this last month was high and thats at keeping the house around 65 and really not that cold. alot of friends complaining about 300 plus bills. boy i would sure hate to live up north with the prices like they r.

My natural gas bill jumped from 60 bucks to almost 80. I used about the same as last month. My central heat is electric (heat pump). All I have is the hot water tank and my stove. It is ridiculous.