Not Logged In Log In   Sign Up   Points Leaders
Follow Us    10:21 PM

GasBuddy News Article

32
votes
Speculators draw fire for U.S. gas prices

UPI -- Speculation in commodities markets is in part to blame for the steady rise in U.S. gasoline prices, a petroleum trade group official said.

Motor group AAA reports U.S. drivers paid, on average, $3.75 for a gallon of regular unleaded gasoline Tuesday, up 15 cents compared to the same time last week.

A series of refinery outages, a switch to more expensive summer blends of gasoline and higher oil prices are also behind the price increase.

Mark Griffin, president of the Michigan Petroleum Association, told the Detroit Free Press that spring price fluctuations are normal but usually not this early.

"This year it seems to be a couple of weeks early," he said. "And what drives most of it is speculation; the oil markets start speculating that the demand is going to come and that drives (price


Read the Full Article

Submitted Feb 20, 2013 By: skb69sa
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Speculators draw fire for U.S. gas prices Back to Topics
REPLIES (newest first) Post a Reply
SkooterG
Champion Author Phoenix

Posts:4,013
Points:1,111,625
Joined:May 2012
Message Posted: Feb 21, 2013 3:29:32 AM

The whole industry is screwed up.
SUV2009
Champion Author Orlando

Posts:6,726
Points:1,902,145
Joined:Oct 2009
Message Posted: Feb 20, 2013 5:39:21 PM

Blame who you want still no change here.
briinnc
Champion Author North Carolina

Posts:2,705
Points:834,820
Joined:Jan 2010
Message Posted: Feb 20, 2013 5:05:46 PM

Tax the hell out of them.
NightRider
Champion Author Dallas

Posts:2,779
Points:153,405
Joined:Apr 2012
Message Posted: Feb 20, 2013 4:01:28 PM

OK, ...... http://nextnewsnetwork.com/
FogCitySpotter
Champion Author San Francisco

Posts:3,773
Points:1,060,475
Joined:Apr 2007
Message Posted: Feb 20, 2013 3:58:50 PM

Ok
honkerman
Champion Author San Jose

Posts:64,996
Points:3,211,155
Joined:Jul 2004
Message Posted: Feb 20, 2013 3:46:24 PM

Require delivery of contracts instead of allowing them to be rolled over. That will solve the problem while still allowing legit users to fulfill their needs.
Radicalrose
Sophomore Author Modesto

Posts:138
Points:616,110
Joined:Apr 2011
Message Posted: Feb 20, 2013 3:44:57 PM

I agree with Mickey, take it away from Wall Street and Speculators!!!!!!!
g747
Champion Author Mobile

Posts:7,695
Points:1,708,365
Joined:Jul 2009
Message Posted: Feb 20, 2013 3:44:15 PM

Please revert to my previous statements!!!!!!!.
tarheelcoastie
Champion Author Greensboro

Posts:8,561
Points:1,912,555
Joined:Jan 2009
Message Posted: Feb 20, 2013 3:39:52 PM

Surprised someone hasn't developed a bounty system for oil and gas speculators???
wulf2000
Champion Author Miami

Posts:5,023
Points:1,955,555
Joined:May 2005
Message Posted: Feb 20, 2013 3:39:31 PM

More hot air from politicians.

Markey said he will attempt to keep speculators away from oil.

How is goign to do this?
elcid1300
Champion Author San Diego

Posts:5,096
Points:1,123,325
Joined:Jul 2012
Message Posted: Feb 20, 2013 3:37:21 PM

Another reason to raise gas prices.
tomok
Champion Author Portland

Posts:46,793
Points:3,171,760
Joined:Aug 2006
Message Posted: Feb 20, 2013 3:34:35 PM

Speculators draw fire for U.S. gas prices and they should draw fire for raising the price of fuel at the pump for no other reason then to line their big bottomless pockets with money at the expense of the consumer. Fuel prices should be cheaper so the economy can recover just a little bit faster.
'Coming out of the closet' Sneeky's lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the jobs are Not here. Sneeky's economy is not improving but continues to hurt the population and the job numbers continue to be down! NO More spending gone wild, there has to be a limit! Four more long years before this country's economy will begin to recover.
Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
TSgtCarverRetired
Champion Author Detroit

Posts:4,489
Points:1,013,850
Joined:Jul 2008
Message Posted: Feb 20, 2013 3:31:11 PM

Looks like this is the problem: Non-commercial financial speculators now dominate 70 percent of the market. The trading is dominated by Wall Street banks, hedge funds and other financial institutions that have no intention to take delivery of the oil needed to make gasoline.
bluetruck54
Champion Author Quad Cities

Posts:4,016
Points:1,000,530
Joined:Apr 2010
Message Posted: Feb 20, 2013 3:27:03 PM

the commidities markets are in a world of themselves.....the common
consumer has no choice in the matter.

as to spring fluctuations being normal: annual excuse because they are
allowed to do so.
suportoffroad00
Champion Author Wisconsin

Posts:1,314
Points:1,836,390
Joined:Aug 2007
Message Posted: Feb 20, 2013 3:26:32 PM

3.84 per gallon here in Northern WI and I am sure will go up again on Thursday because it can.
Mikeyl
Champion Author Cleveland

Posts:9,582
Points:1,984,440
Joined:Aug 2004
Message Posted: Feb 20, 2013 3:22:50 PM

I'd speculate that we should remove all speculators from the oil markets. Oil should be purchased DIRECTLY and not through Wall Street.
DancingDee
Champion Author Gary

Posts:5,191
Points:1,247,630
Joined:Jul 2005
Message Posted: Feb 20, 2013 3:21:59 PM

As expected!!!
Grinch09
Champion Author Grand Rapids

Posts:2,654
Points:139,030
Joined:Dec 2009
Message Posted: Feb 20, 2013 3:21:55 PM

Marvelous
njerald
Champion Author Seattle

Posts:11,041
Points:2,424,375
Joined:Oct 2007
Message Posted: Feb 20, 2013 3:21:10 PM

Speculation is good..........
mdskier
Champion Author Sacramento

Posts:11,184
Points:2,050,115
Joined:Aug 2005
Message Posted: Feb 20, 2013 3:18:08 PM

Hang the speculator vermin.
pliskin
Champion Author Syracuse

Posts:7,584
Points:2,382,150
Joined:Apr 2005
Message Posted: Feb 20, 2013 3:15:21 PM

And well they should draw heavy fire for continuing to play their silly game on the World's stage! I only hurts the people of the world with their constant daily chess game!
Rhino8of8
Champion Author Wisconsin

Posts:3,174
Points:1,077,945
Joined:Jan 2012
Message Posted: Feb 20, 2013 3:10:25 PM

I'm feeling pretty much the same as lkozark
Cachase1
Champion Author Oklahoma City

Posts:14,847
Points:3,192,135
Joined:Aug 2003
Message Posted: Feb 20, 2013 3:09:27 PM

They "Draw Fire", does that mean someone is shooting at them? This is good news.
lkozark
Champion Author Missouri

Posts:7,899
Points:2,089,160
Joined:Jul 2007
Message Posted: Feb 20, 2013 3:08:23 PM

Pig-Oil and Speculators are in control and no one will challenge them on behalf of the consumers. Until alternative solutions are available we are their slaves.
condé
Champion Author Michigan

Posts:5,828
Points:2,335,245
Joined:Oct 2004
Message Posted: Feb 20, 2013 3:02:50 PM

I wait for the market to crash!!
bmxstud
Veteran Author Chicago

Posts:338
Points:668,595
Joined:Jan 2013
Message Posted: Feb 20, 2013 3:02:40 PM

no kid
OOXXFF
Champion Author Greensboro

Posts:6,389
Points:1,884,220
Joined:Sep 2009
Message Posted: Feb 20, 2013 3:01:41 PM

Gas prices are too high.
73amx
Champion Author Allentown

Posts:4,562
Points:1,269,945
Joined:Sep 2011
Message Posted: Feb 20, 2013 2:59:49 PM

speculators say thge price will go upsays, OK the people know about it so it's OK to raise them now.
calripken_8
Champion Author Virginia

Posts:4,146
Points:909,415
Joined:Jun 2011
Message Posted: Feb 20, 2013 2:59:47 PM

I agree with the below:

"Just a bunch of lame excuses. Why wasn't the Fed printing money part of the problem?"
Ken825
Champion Author Pennsylvania

Posts:2,152
Points:857,750
Joined:Nov 2012
Message Posted: Feb 20, 2013 2:59:07 PM

Just a bunch of lame excuses. Why wasn't the Fed printing money part of the problem?
UpSol7
Champion Author Augusta

Posts:2,460
Points:1,455,000
Joined:Sep 2008
Message Posted: Feb 20, 2013 2:58:56 PM

Suzmar---- "make them take delivery" lolol
suzmar
Champion Author Texas

Posts:3,497
Points:1,463,315
Joined:Jun 2006
Message Posted: Feb 20, 2013 2:56:37 PM

Speculators are always part of the problem, make them take delivery!
slowpoke63
Champion Author Louisiana

Posts:5,477
Points:1,528,800
Joined:Jul 2009
Message Posted: Feb 20, 2013 2:55:15 PM

Speculators are the problem!
Lizzylou
Champion Author Stockton

Posts:8,818
Points:2,357,285
Joined:Oct 2005
Message Posted: Feb 20, 2013 2:50:51 PM

"SPECULATORS" AGAIN!!!
caddilac
Champion Author Ontario

Posts:20,376
Points:2,951,510
Joined:Apr 2007
Message Posted: Feb 20, 2013 2:50:19 PM


" Speculation in commodities markets is in part to blame for the steady rise in U.S. gasoline prices, a petroleum trade group official said."

Something has to be done about the SPECULATORS that manipulate the price of oil and gasoline.

hallows
Champion Author St. Louis

Posts:8,080
Points:3,615,450
Joined:Jun 2004
Message Posted: Feb 20, 2013 2:49:54 PM

Right on, pulpwood!
DeeLA
Champion Author Los Angeles

Posts:8,096
Points:2,164,910
Joined:Nov 2008
Message Posted: Feb 20, 2013 2:48:54 PM

This is not a new article. It is yesterday's.
pulpwood
Champion Author Mississippi

Posts:7,394
Points:1,868,505
Joined:Sep 2006
Message Posted: Feb 20, 2013 2:47:34 PM

Big oil owns us all and will do as they please.
mustangdaver
Champion Author Ontario

Posts:4,921
Points:1,300,345
Joined:Aug 2005
Message Posted: Feb 20, 2013 2:46:54 PM

no kidding
yonasb
Champion Author Houston

Posts:3,463
Points:852,575
Joined:Apr 2011
Message Posted: Feb 20, 2013 2:46:51 PM

crazy world
zudo
Sophomore Author Phoenix

Posts:163
Points:738,235
Joined:Sep 2006
Message Posted: Feb 20, 2013 2:46:17 PM

"A series of refinery outages, a switch to more expensive summer blends of gasoline and higher oil prices are also behind the price increase."

But people who see these events are greedy for betting that future gas prices will be higher. Tail wags dog, huh?
250FORD
Champion Author Minnesota

Posts:8,334
Points:1,306,260
Joined:Feb 2007
Message Posted: Feb 20, 2013 2:45:30 PM

Get speculators out of commodities today and energy and food drops like a rock.
juttuniemi
Champion Author Tucson

Posts:6,408
Points:2,656,650
Joined:Aug 2003
Message Posted: Feb 20, 2013 2:44:19 PM

Speculators again!
NightRider
Champion Author Dallas

Posts:2,779
Points:153,405
Joined:Apr 2012
Message Posted: Feb 20, 2013 2:42:07 PM

http://nextnewsnetwork.com/
ramammoth
Champion Author Modesto

Posts:1,612
Points:319,305
Joined:Mar 2007
Message Posted: Feb 20, 2013 2:40:11 PM

How is this President Obama's fault?

Americans love their freedom. Freedom doesn't equal cheap gasoline.
AcuraTSX
Champion Author Ohio

Posts:6,995
Points:2,941,220
Joined:Dec 2005
Message Posted: Feb 20, 2013 2:39:09 PM

Those "evil" speculators are such an easy target.
A switch to more expensive summer blends just not a good target to draw fire.
JoeKR
Champion Author New Jersey

Posts:12,377
Points:2,147,540
Joined:Feb 2006
Message Posted: Feb 20, 2013 2:38:51 PM

"...a switch to more expensive summer blends..."

Tell us, UPI, what refineries are blending summer gas is February?
redtruckaz
All-Star Author Phoenix

Posts:544
Points:171,815
Joined:May 2012
Message Posted: Feb 20, 2013 2:36:43 PM

How's VOTE FOR CHANGE WORKING FOR YOU NOW??????????
paoli8
Champion Author Philadelphia

Posts:9,502
Points:2,553,680
Joined:Jul 2007
Message Posted: Feb 20, 2013 2:36:18 PM

Like prostitutes, there will always be speculators
indrix
All-Star Author Toronto

Posts:884
Points:201,155
Joined:Sep 2011
Message Posted: Feb 20, 2013 2:34:19 PM

I wonder how much more consumers can put up with this situation. Hasn't the boiling point reached yet?
nerde
Champion Author Florida

Posts:7,078
Points:1,500,000
Joined:Jul 2009
Message Posted: Feb 20, 2013 2:30:38 PM

The "speculators" are too big to jail. Ask your representatives if they're tough on crime or not!
Post a reply Back to Topics