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Author Topic: What's Propping Up Gasoline Futures? Back to Topics
PD
Moderator
Message Posted: Aug 19, 2011 11:51:16 AM

CNN shared some intriguing information yesterday. It reported that crude oil, trading at $82.38 (and moving lower today) was fast approaching the lowest level it's seen in a 52-week trading range. (The low in that range is $80.90 per barrel while the high end of that range is $144 per barrel.)

At the same time, gasoline futures contracts for September are trading at $2.78 (wholesale) which puts unleaded gasoline mid-range over the same period. The 52-week low for gasoline futures is $2.09 and the high is $3.40. Trading Economics reports that gasoline futures have rallied 44.37 percent during the last 12 months.

This link will show you the trend: CNN Money

Why the disparity? What's propping up gasoline...

Visit GasBuddy Blog for full article
REPLIES (newest first) Post a Reply
KerryOK
Rookie Author Los Angeles

Posts:20
Points:24,885
Joined:Mar 2009
Message Posted: Aug 23, 2011 12:41:20 AM

So why is gas still higher than it was in December?
mlaurence
Veteran Author Boston

Posts:313
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Joined:Apr 2009
Message Posted: Aug 22, 2011 9:56:45 PM

The main thing that's propping up gas prices is insatiable worldwide demand.
honda0105
Champion Author Tallahassee

Posts:21,410
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Message Posted: Aug 21, 2011 8:54:08 AM

Pete12: I agree... lots of specutraitors are hoping they strike it rich w/ oil.
1006
Champion Author Birmingham

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Message Posted: Aug 21, 2011 8:34:58 AM

no surprise here . . hands out to the consumer
nervous
Veteran Author Ventura

Posts:263
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Joined:Oct 2010
Message Posted: Aug 20, 2011 10:50:27 PM

Sounds alittle more like lookin into that crystal ball. "Hope and Change"
bullman68
All-Star Author St. Louis

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Message Posted: Aug 20, 2011 10:23:50 PM

Oil:tax:manipulation or oil:manipulation:tax
Pete12
Champion Author Albany

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Message Posted: Aug 20, 2011 7:34:03 PM

The speculators are propping it up to fill their pockets at the expense of the consumer.
reb4
Champion Author Chicago

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Message Posted: Aug 20, 2011 11:49:12 AM

This is usually the case... and notice the chart and oil price compared to ... Corn...
torn8owx
Champion Author Philadelphia

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Joined:Feb 2010
Message Posted: Aug 20, 2011 7:11:59 AM

Does this disconnect come as a surprise?
WalRus49
Champion Author Boston

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Message Posted: Aug 20, 2011 3:02:30 AM

Just more organized mayhem and pillage....
fordUTD
Rookie Author Dallas

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Message Posted: Aug 20, 2011 12:57:29 AM

Seems like the price won't fall below $3 again.....
us4usa
Champion Author Missouri

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Joined:May 2008
Message Posted: Aug 20, 2011 12:38:30 AM

Time to switch all cars and trucks to LPG/CNG.... Then OPEC will drop their price... As for wall street 50% or more down on all oil trades... And for the ones holding oil stock hoping for higher prices, how are your other stocks doing??? But for all your money is in oil, I say every dog has its day, then its over.... So make tons of money on our backs, just remember soon you will be supporting a lot of people...
CDMAuto
Champion Author Connecticut

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Message Posted: Aug 20, 2011 12:24:47 AM

GREED
AnObserver
Champion Author New Jersey

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Message Posted: Aug 20, 2011 12:24:44 AM

Uh .. greed?
Bonito
Champion Author Dayton

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Message Posted: Aug 20, 2011 12:23:08 AM

MORE BULL AND GREED BY THE RICH. LONDON SHOULD BE A CLUE?
Zonk
Champion Author Michigan

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Message Posted: Aug 20, 2011 12:22:50 AM

The cut backs aren't for all to benefit from.
JeffreyZan
Champion Author Pittsburgh

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Message Posted: Aug 20, 2011 12:20:41 AM

..
malcolm016
Veteran Author Atlanta

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Message Posted: Aug 20, 2011 12:20:27 AM

damn
LoneGuy
Champion Author Lansing

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Message Posted: Aug 20, 2011 12:20:07 AM

I look forward to gas below $3 but it is back down to $3.54 in mid Michigan.
VetteBlue
Champion Author San Jose

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Message Posted: Aug 20, 2011 12:19:54 AM

Cut back on supply.
Badmoon
Champion Author Massachusetts

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Message Posted: Aug 20, 2011 12:18:51 AM

The crack spreads are outrageous right now. Is it the market or refiners screwing the public?
crowefamily1
All-Star Author Texas

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Message Posted: Aug 20, 2011 12:15:00 AM

What's propping up gasoline -- its our wallets no matter how much we complain and moan and groan we still buy the fuel, after all we still need to drive to work, the grocery store, take our kids to school go to school our selves they know this and we know this they like playing with our minds and our emotions so what are we supposed to do --- LAY DOWN AND TAKE IT - WITH SAND PAPER !!!!
Eliano
Champion Author Baltimore

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Message Posted: Aug 20, 2011 12:13:34 AM

speculators win again :(
MidNJ
Champion Author New Jersey

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Message Posted: Aug 20, 2011 12:13:31 AM

Wow!, 12:12 AM (EST) and no new article posted?

Interesting
rxman1
Champion Author Toledo

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Message Posted: Aug 20, 2011 12:10:53 AM

Everybody wins but the consumer.
OceansidePoms
Champion Author Massachusetts

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Joined:Nov 2008
Message Posted: Aug 20, 2011 12:09:50 AM

Just be hopeful.... I know all this speculation scr*ws everything up... But what are we to do... Why don't we at least be hopeful & fight however we can... I will say, I have seen a positive difference here in S.E - MA in the past 3 weeks! From $4.09 to $3.59 & lower... It needs to fall... How many more people have to file for BANKRUPTCY before they lower the stupid GAS PRICES! Come on! Find something else to **** with! Not something SO essential! We haven't done SH** to the Government & all the stupid price setters! So why the hell are we being treated as if we are being punished? F THIS! GO LOW or We should make it blo*.... j/k ;)
kgbellman
Champion Author Ann Arbor

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Message Posted: Aug 20, 2011 12:09:37 AM

dang speculators
gd83goldwinger
Champion Author South Bend

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Message Posted: Aug 20, 2011 12:09:14 AM

Speculators should be given a pink slip.
Bigwaynef
Champion Author South Carolina

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Message Posted: Aug 20, 2011 12:09:06 AM

Obama has saved the world again...
frostyWV
Champion Author West Virginia

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Message Posted: Aug 20, 2011 12:08:26 AM

greedy effing speculators!!!!!!!
jkpsr
Champion Author New Jersey

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Message Posted: Aug 20, 2011 12:07:55 AM

NJ prices are coming down
gocatgo
Champion Author South Carolina

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Message Posted: Aug 20, 2011 12:06:27 AM

Hopefully with the drop in oil prices the speculators will lose money!
pastorpaulcg
Champion Author Virginia

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Message Posted: Aug 20, 2011 12:06:22 AM

crack spread...that's just wrong on many different levels
tutaw
Champion Author Kentucky

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Message Posted: Aug 20, 2011 12:03:41 AM

greed and dumb public is keeping up gas prices
OGW
Champion Author London

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Message Posted: Aug 20, 2011 12:03:39 AM

Speculators are killing the economy.
ricebike
Champion Author New Jersey

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Message Posted: Aug 20, 2011 12:03:18 AM

ha, crack spread = it's "legal stealing"
MidNJ
Champion Author New Jersey

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Message Posted: Aug 20, 2011 12:01:16 AM

"What's Propping Up Gasoline Futures?"

Good question!!!

[Edited by: MidNJ at 8/20/2011 12:02:21 AM EST]
rippinusoff
Champion Author Lexington

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Message Posted: Aug 20, 2011 12:01:10 AM

we are being ripped off as usual
sosgas
Champion Author Portland

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Message Posted: Aug 20, 2011 12:00:54 AM

Thanks.
memelissa
Veteran Author Miami

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Message Posted: Aug 19, 2011 11:57:43 PM

damn
bcok
Champion Author Los Angeles

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Message Posted: Aug 19, 2011 11:57:40 PM

If this lower price range doesn't break a record then we have to try harder to get those prices down-way down.
AnObserver
Champion Author New Jersey

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Message Posted: Aug 19, 2011 11:55:35 PM

Greed?
afghaned
Champion Author Ottawa

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Message Posted: Aug 19, 2011 11:54:50 PM

One side or the other will cause prices to stay high. Tax or profit, it doesn't matter either way we pay.
skybiker
Champion Author South Carolina

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Message Posted: Aug 19, 2011 11:53:47 PM

synthetic speculation!!...
DustyHorse
Champion Author Virginia

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Message Posted: Aug 19, 2011 11:51:44 PM

Hopefully the speculators will lose money.
Sody33
Champion Author Las Vegas

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Message Posted: Aug 19, 2011 11:46:21 PM

GREED. Good Grief, Charlie Brown doesn't everyone guess this by now??
ciimike
Champion Author Nevada

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Message Posted: Aug 19, 2011 11:44:55 PM

Investors like the cracks as well.
jimgraham
Champion Author Akron

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Message Posted: Aug 19, 2011 11:44:01 PM

We will not see gas under $3 for very long - if at all - DC and the states will figure that we are willing and able to pay $3.50 to $4.00 for gas, so they will just add a tax to keep it there.
tomok
Champion Author Portland

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Message Posted: Aug 19, 2011 11:43:43 PM

Whatever the mechanism for Gasoline Futures - The price of fuel at the pump is too high!
woodeye55
Champion Author Gary

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Message Posted: Aug 19, 2011 11:42:05 PM

...because they want it high.
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