Gas Prices......

[Brett]

They have come down over 50 cents in the past 2-3 weeks, And each morning they are lower then the day before. Im seeing many places at $2.37 now. Maybe we will see $1.99 again??

[ALVIN]

hahaha 2.37 was like last friday for me...lol where i live the lowest is 2.32 at a QT. Ohh an hopefully below $2 will happen again...its looking that way for now. Maybe

[MachNU]

I have heard in other places around Georgia they are as low as 2.20 something now.

[The Ren]

The QT down the street from me is $2.32 for regular as well

[Brett]

I know the prices vary, I knw some are much lower then what I see here, Im just saying in general prices have dropped alot in 2 weeks and seem to keep going down.

[The Ren]

I know the prices vary, I knw some are much lower then what I see here, Im just saying in general prices have dropped alot in 2 weeks and seem to keep going down.
Which I must say is very good for people like us to HAVE to use premium...

[civic95]

They are supposed to be going back up according to CNN yesterday. Something about a larger % of crude being turned into heating oil for the winter.

What the hell is heating oil? Kerosene?

[BlueHatch]

you can always count on race trac for low prices. they do a survey every 6 hours and go lower than the lowest

[Kevykev]

1.69 here.






plus tax..

[MachNU]

^^^^^ someone has been watching the news lately! :goodjob:

[God]

1.69 where?

[A.P. Photography]

$2.19 at the wal-mart :goodjob:

[Mike Lowrey]

Which I must say is very good for people like us to HAVE to use premium...

I feel your pain. :(

[MachNU]

1.69 where?

LOL thats what it cost gas stations to buy the gas. Then when they throw on tax and all the gayness you get around like 2.20-2.40!

[God]

haha i was about to say 169? where ill go fillup the bmw and the 300zx

[Kevykev]

haha i was about to say 169? where ill go fillup the bmw and the 300zx


yeah man paypal me the money!

I'll get you set up with the VIP discount.

[Brett]

^^ HA HA HA HA

[chrisdavis]

They have come down over 50 cents in the past 2-3 weeks, And each morning they are lower then the day before. Im seeing many places at $2.37 now. Maybe we will see $1.99 again??

I honestly doubt that we will ever see gass below 2 dollars a gallon ever again. There was no outrage, no boycotting, no anything. They have us paying higher prices with no complaints so why would they drop it. Exxon posted a record profit in the third quarter 9.xx billion(that was just the third quarter not for the year), followed very closely by Shell. And congress just granted the oil industry a huge tax break.

[A.P. Photography]

I honestly doubt that we will ever see gass below 2 dollars a gallon ever again. There was no outrage, no boycotting, no anything. They have us paying higher prices with no complaints so why would they drop it. Exxon posted a record profit in the third quarter 9.xx billion(that was just the third quarter not for the year), followed very closely by Shell. And congress just granted the oil industry a huge tax break.
Actually that tax break was granted before they posted the profits I believe. Last I heard is that congress is not going to be as giving the next go around.

[chrisdavis]

Actually that tax break was granted before they posted the profits I believe. Last I heard is that congress is not going to be as giving the next go around.

I know. I should have worded it better. I meant that those two items coupled together have made it a great year for the oil industry and a bad year for us consumers, and yet there is no complaints. My wife and I have to pay it regardless (gotta work you know) but it has had an effect on spending elsewhere.

[Brett]

Well atleast its still going down, that says something atleast

[God]

I honestly doubt that we will ever see gass below 2 dollars a gallon ever again. There was no outrage, no boycotting, no anything. They have us paying higher prices with no complaints so why would they drop it. Exxon posted a record profit in the third quarter 9.xx billion(that was just the third quarter not for the year), followed very closely by Shell. And congress just granted the oil industry a huge tax break.




ok this stuff is annoying.

the profit margins were nearly the same.
there is a difference between PROFIT
and PROFIT MARGIN

for example.

say your company makes 1 million dollars a year.
now you subtract your operating costs which are 930,000
you made 70 000$ profit

now
to find the profit margin
divide the 70 000 by 1 000 000
you get
0.07
=
7%

now say the next year, you make 2 000 000
and you have double the operating costs of last year,
930 000 x 2 = 1 860 000
so subtract that from the revenues, you get
140 000

DOUBLE THE PROFITS! right? yes, but.
what is the profit margin you ask?

divide 140 000 by the revenues, 2 000 000

its still 0.07

while you can hype up everyone by saying profits were XXXXXXX
or in this case PROFITS DOUBLED!

they are the same percentage of last year.

So whats todays lesson?

Don't beleive the media hype.

[Kristi]

They have come down over 50 cents in the past 2-3 weeks, And each morning they are lower then the day before. Im seeing many places at $2.37 now. Maybe we will see $1.99 again??

its funny- i never thought i would be happy to see gas for 2.37


lol

[buddha@TeamFX]

my boss flew out to texas last week down near the border and said gas was $2.02 a gallon there

[A.P. Photography]

ok this stuff is annoying.

the profit margins were nearly the same.
there is a difference between PROFIT
and PROFIT MARGIN

for example.

say your company makes 1 million dollars a year.
now you subtract your operating costs which are 930,000
you made 70 000$ profit

now
to find the profit margin
divide the 70 000 by 1 000 000
you get
0.07
=
7%

now say the next year, you make 2 000 000
and you have double the operating costs of last year,
930 000 x 2 = 1 860 000
so subtract that from the revenues, you get
140 000

DOUBLE THE PROFITS! right? yes, but.
what is the profit margin you ask?

divide 140 000 by the revenues, 2 000 000

its still 0.07

while you can hype up everyone by saying profits were XXXXXXX
or in this case PROFITS DOUBLED!

they are the same percentage of last year.

So whats todays lesson?

Don't beleive the media hype.
Actually after all that, which makes sense, you are way off.

There was no increase in oil but rather a decrease in production capabilities and flow obstructions. So the cost to produce xxx number of barrels into usuable products never changed as they either produced less or the same amount. The rationing of items and the price of gas going up is where there record profits came from. Example, it costs you $30 to make product A. You produce 50 a quater and they sell for $60. Demand soars driving the price to $200 but you still only produce 50 a quater at a cost of $30 each. Therefore you have a record profit for x quarter. This is basically what happend in the oil market.

[Ruiner]

LOL thats what it cost gas stations to buy the gas. Then when they throw on tax and all the gayness you get around like 2.20-2.40!

They only make a few cents a gallon.

[chrisdavis]

ok this stuff is annoying.

the profit margins were nearly the same.
there is a difference between PROFIT
and PROFIT MARGIN

for example.

say your company makes 1 million dollars a year.
now you subtract your operating costs which are 930,000
you made 70 000$ profit

now
to find the profit margin
divide the 70 000 by 1 000 000
you get
0.07
=
7%

now say the next year, you make 2 000 000
and you have double the operating costs of last year,
930 000 x 2 = 1 860 000
so subtract that from the revenues, you get
140 000

DOUBLE THE PROFITS! right? yes, but.
what is the profit margin you ask?

divide 140 000 by the revenues, 2 000 000

its still 0.07

while you can hype up everyone by saying profits were XXXXXXX
or in this case PROFITS DOUBLED!

they are the same percentage of last year.

So whats todays lesson?

Don't beleive the media hype.

Im not picking a fight. I would like to know how it is possible for Exxon to have no change in thier profit margin. Exxon's production is down almost 5% and they have an increase of 75% in profit and 32% in revenue.

http://www.bloomberg.com/apps/news?pid=10000103&sid=aBfEe2X7TS_s&refer=us
Profit margins on refined fuels widened as gasoline and diesel prices rose even more than the cost of crude oil.

``Profits continue to rise because of prices,'' Douglas Ober, who manages $2 billion, including Exxon Mobil shares, at Adams Express Co. in Baltimore, said today in an interview. ``We should continue to see high prices because so much production in the Gulf of Mexico is still shut in because of the hurricanes and a number of refineries are still closed.



http://money.cnn.com/2005/10/27/news/fortune500/exxon.reut/?cnn=yes

While Exxon's quarterly profit was up 75 percent from a year earlier, and revenue rose 32 percent to more than $100 billion, the results fell short of Wall Street forecasts due to production outages caused by the hurricanes and sharply lower profit at the company's chemicals division.

Exxon's oil and gas production fell 4.7 percent in the third quarter from a year earlier as outages caused by Katrina and Rita, maintenance activities, and maturing fields more than offset higher production from new fields in West Africa.

[God]

Actually after all that, which makes sense, you are way off.

There was no increase in oil but rather a decrease in production capabilities and flow obstructions. So the cost to produce xxx number of barrels into usuable products never changed as they either produced less or the same amount. The rationing of items and the price of gas going up is where there record profits came from. Example, it costs you $30 to make product A. You produce 50 a quater and they sell for $60. Demand soars driving the price to $200 but you still only produce 50 a quater at a cost of $30 each. Therefore you have a record profit for x quarter. This is basically what happend in the oil market.



haha i know i was making a fake company as an example.
most people see it as "they are making a profit so they must be price gouging" its so freaking annoying.
and then you have idiots like hilary who said the other day the us needs to seize the excess profits of oil companies.
if that doesnt prove shes a socialist i dont know what is.

[chrisdavis]

haha i know i was making a fake company as an example.
most people see it as "they are making a profit so they must be price gouging" its so freaking annoying.
and then you have idiots like hilary who said the other day the us needs to seize the excess profits of oil companies.
if that doesnt prove shes a socialist i dont know what is.

I never said anything about price gouging. What I was reffering to is when this happened in the 80's there was a public outcry and boycotts. After Katrina people rushed out and pushed the prices way up and didnt complain. Now the prices are up and with no resistance from the consumer there is no need for the oil companies to reduce them. My only disagreement is the tax break that congress alotted the oil companies, they were already posting profits before the tax break.

[Kristi]

Actually after all that, which makes sense, you are way off.

There was no increase in oil but rather a decrease in production capabilities and flow obstructions. So the cost to produce xxx number of barrels into usuable products never changed as they either produced less or the same amount. The rationing of items and the price of gas going up is where there record profits came from. Example, it costs you $30 to make product A. You produce 50 a quater and they sell for $60. Demand soars driving the price to $200 but you still only produce 50 a quater at a cost of $30 each. Therefore you have a record profit for x quarter. This is basically what happend in the oil market.
boy aren't we smart

[A.P. Photography]

boy aren't we smart
;)

[God]

I never said anything about price gouging. What I was reffering to is when this happened in the 80's there was a public outcry and boycotts. After Katrina people rushed out and pushed the prices way up and didnt complain. Now the prices are up and with no resistance from the consumer there is no need for the oil companies to reduce them. My only disagreement is the tax break that congress alotted the oil companies, they were already posting profits before the tax break.


i wasnt disagreeing with the tax part, i wish we would move to the fair tax system linder and boortz are trying to push through. and i wasnt talking about you when i said price gouging, i said most people. like this past sundays paper, in the "vent" section of the ajc
so many idiots talking about it. but,
thats what you get from government schools

[chrisdavis]

i wasnt disagreeing with the tax part, i wish we would move to the fair tax system linder and boortz are trying to push through. and i wasnt talking about you when i said price gouging, i said most people. like this past sundays paper, in the "vent" section of the ajc
so many idiots talking about it. but,
thats what you get from government schools

My wife is all for the fair tax system, my concern is what if the tax percent is too low and they have to raise it. My wife says it is written into the bill that the percentage cannot be raised, if thats the case then I am all for it.