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Spike in gasoline prices points to speculators

The Salt Lake Tribune -- Like locusts ravaging fertile crops, gasoline prices are soaring again and eating away at the purchasing power of ordinary Americans. And again, financial speculators appear to be a big part of the story.

The national average pump price hit $3.74 for a gallon of unleaded gasoline Tuesday, up a sharp 44 cents per gallon from just a month ago, according to the AAA’s Fuel Gauge Report. In Utah, the average was $3.39, up 53 cents from a month ago.


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Submitted Feb 20, 2013 By: skb69sa
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Spike in gasoline prices points to speculators Back to Topics
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BM4225
Champion Author Atlanta

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Message Posted: Feb 21, 2013 11:18:42 AM

Don't forget we need more corn for Ethanol because the content must now be 15% because it is in writing, and we can not be reasonable to cut it back to use it for food.
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slowtrain
Champion Author Georgia

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Message Posted: Feb 20, 2013 5:46:29 PM

Make them pay $1000 per gallon.
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GatorGuy
Champion Author Columbia

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Message Posted: Feb 20, 2013 5:39:54 PM

Choot em!
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SUV2009
Champion Author Orlando

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Message Posted: Feb 20, 2013 5:38:28 PM

Does not matter we cannot do anything about it.
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Alaydown
Champion Author Los Angeles

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Message Posted: Feb 20, 2013 5:15:21 PM

A spike in prices points to market conditions that warrant the higher prices. Change the market conditions and prices will fall as usual. Obama is in control of these market conditions that increase prices.



[Edited by: Alaydown at 2/20/2013 5:17:13 PM EST]
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briinnc
Champion Author North Carolina

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Message Posted: Feb 20, 2013 5:04:40 PM

Politicians don't care,, until someone starts rattling the pig trough.
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nigelb
Champion Author Virginia

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Message Posted: Feb 20, 2013 4:57:31 PM

mrmike75 - Good idea but the House RepubliTWITS and Tea Tards would oppose any attempt to regulate gas prices. 75% of Big Oil political contributions go to RepubliTWITS so they have been bought and paid for!

The speculators must be regulated. Raise the margin requirement and make them take delivery on their contracts. Sadly, the pinhead Republicans idiots will oppose any regulation, just as they opposed regulating Wall Street and the banks after the financial collapse. The GOP has the interest of big business and the very wealthy (read big contributors) at heart, not those of the middle class. Vote them out in 2014!
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TheThorn
Champion Author South Carolina

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Message Posted: Feb 20, 2013 4:52:39 PM

speculators APPEAR - sorry but duuuuhh
heard some chatter about making speculators take delivery on their purchases. bet that would would fix the prob real fast
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mrmike75
All-Star Author Las Vegas

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Message Posted: Feb 20, 2013 4:47:57 PM

Why don't the feds regulate gas prices and put a cap on them to stimulate the economy....
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Spirits
All-Star Author Florida

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Message Posted: Feb 20, 2013 4:41:38 PM

Some people just don't catch on very fast.
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TNT2EC
Champion Author Wisconsin

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Message Posted: Feb 20, 2013 4:40:35 PM

I have been saying this for weeks and the Salt Lake Tribune is only now figuring this out. Great reporting skills there.
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regasaz
Champion Author Phoenix

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Message Posted: Feb 20, 2013 4:40:15 PM

I keep waiting for Obama to blame these increases on "Bush" - we all know that Obama is not reponsible for anything.
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Asbury09
Champion Author Iowa

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Message Posted: Feb 20, 2013 4:37:46 PM

you don't say
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BIGREDNM
Champion Author Albuquerque

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Message Posted: Feb 20, 2013 4:36:55 PM

More like pure greed.
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blazerbob91
Champion Author Milwaukee

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Message Posted: Feb 20, 2013 4:36:51 PM

Screw the consumer
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djwhit
Champion Author Ohio

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Message Posted: Feb 20, 2013 4:29:47 PM

THANKS TO OBAMA AND THE OIL CO's........OBAMA HAS DONE NOTHING ABOUT THE OIL COs FOR 4 1/2 YRS NOW......OBAMA IS FULL OF IT.......
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FuelPump
Champion Author Los Angeles

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Message Posted: Feb 20, 2013 4:29:41 PM

And this surprises who????
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no8c
Champion Author Ohio

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Message Posted: Feb 20, 2013 4:27:01 PM

Thanks for posting this article!
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mycar2
Champion Author Akron

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Message Posted: Feb 20, 2013 4:26:00 PM

why don't they have controls to curb the spikes, they do on the stock exchange
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BossPal
Champion Author Illinois

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Message Posted: Feb 20, 2013 4:25:36 PM

We have $4.59 regular gas in chicago now and
We all are resposible,and if we keep buying gas at the higher price they will continue to raise the price..forcing some to switch to buying electric cars,which would make oil lose some profits and therefore raise the price of gas even higher and higher forcing more people to buy more alternative fueled cars (CNG,Hybryd,Electric) therfore creating more jobs.... yeah right. just a thought LOL
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daytonabiker
Champion Author Florida

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Message Posted: Feb 20, 2013 4:23:46 PM

nationalize the oil in Iran,Iraq, saudi Arabia
lave Qatar alone
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carefrey
Champion Author Orlando

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Message Posted: Feb 20, 2013 4:23:18 PM

That's what it usually is.
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spdude
All-Star Author Oakland

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Message Posted: Feb 20, 2013 4:22:49 PM

When they lose their shirts the government will bail them out.
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tpguess
Champion Author San Diego

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Message Posted: Feb 20, 2013 4:20:03 PM

Of course it has nothing to do with Obama policies
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sjhman
Veteran Author Atlanta

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Message Posted: Feb 20, 2013 4:19:54 PM

The worst
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toxigas
Champion Author Oakland

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Message Posted: Feb 20, 2013 4:18:29 PM

Another slow news day...
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Alaydown
Champion Author Los Angeles

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Message Posted: Feb 20, 2013 4:17:33 PM

A spike in prices points to market conditions that warrant the higher prices. Change the market conditions and prices will fall as usual.
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DMG86
Sophomore Author Dallas

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Message Posted: Feb 20, 2013 4:14:14 PM

Just wish gas prices would stay under $4!
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srchr
Champion Author San Jose

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Message Posted: Feb 20, 2013 4:13:44 PM

thin margins enable speculators; build more refineries to hinder them
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joezIN
Champion Author Gary

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Message Posted: Feb 20, 2013 4:12:14 PM

hedge funds
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gasokie
Champion Author Oklahoma

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Message Posted: Feb 20, 2013 4:12:08 PM

People who whine about "speculators" don't seem to grasp marketing or wall street or how marketing products work. Gasoline is like cattle on the hoof, a commodity. People have traded commodities for centuries without ever laying a hand on the item traded. It may be a strange action to some, but it still works in the best economic system every invented.
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beck12j
All-Star Author Dayton

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Message Posted: Feb 20, 2013 4:11:19 PM

speculators ARE EVIL
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BeaconLite
Champion Author Ottawa

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Message Posted: Feb 20, 2013 4:08:31 PM

We would be better off without speculators.
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gas_too_high
Champion Author Columbus

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Message Posted: Feb 20, 2013 4:06:55 PM

As an explanation for higher gasoline prices this early in the year, speculation makes a whole lot of sense, unlike news stories about "refinery changeover," which doesn't happen in February.

GTH
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tonoplast
Champion Author Lexington

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Message Posted: Feb 20, 2013 4:04:26 PM

So what's new? Major fuel suppliers should be regulated, as other necessary public utilities are. That would assure reasonable profits but prevent speculation, disruption of supplies, and assure intelligent planning for the future.

Why oh why isn't this part of the eternal discussion on energy prices, huh??
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singlemom27
Champion Author Ventura

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Message Posted: Feb 20, 2013 3:59:33 PM

it should be illegal
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NightRider
Champion Author Dallas

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Message Posted: Feb 20, 2013 3:56:06 PM

Yes, OK. Are we like beached whales? Is there something that can reasonably be done?
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JWHITE1937
Champion Author Massachusetts

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Message Posted: Feb 20, 2013 3:55:22 PM

AMEN, NASCAR9, end of speculation!
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hibsaw
Champion Author Mississippi

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Message Posted: Feb 20, 2013 3:54:25 PM

Many of us have been blaming the speculators for years. As long as the problem is tied up in Court, what can we do? Take it or leave it is our only option.
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nascar9
Champion Author Tacoma

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Message Posted: Feb 20, 2013 3:52:36 PM

I've said it before but here it is again. Make speculators take delivery of the oil before they can resell it.
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FogCitySpotter
Champion Author San Francisco

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Message Posted: Feb 20, 2013 3:52:04 PM

Ok
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BigDartMike
All-Star Author Ohio

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Message Posted: Feb 20, 2013 3:51:29 PM

Not news, Captain obvious. Now what are wwe going to DO ABOUT IT?
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boldrph
Champion Author Topeka

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Message Posted: Feb 20, 2013 3:51:08 PM

gas price goes up every spring. no surprise here at all
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peapaw
Champion Author Ohio

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Message Posted: Feb 20, 2013 3:49:58 PM

If this is not stating the obvious I don't know what is.
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oldiesman
Champion Author New York

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Message Posted: Feb 20, 2013 3:42:45 PM

Aren't you forgetting OPEC?
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g747
Champion Author Mobile

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Message Posted: Feb 20, 2013 3:39:16 PM

I really wished they had a real dose of their own medicine;to see how it really really feels. But only the colleagues in that profession paid 50 times more what they speculate on.All of us normal folks,we pay $2 bucks less @ the current rate.Commodities traders & collegues will be paying that for 5 yrs.Deciding can I pay the mortgage, or rent,medicine,church dues,country club dues,going out to social events with their snooty associates,do I have any disposeable income to invest,savings,nest egg for the future,will my marriage ends,can I make ends meet ?;all of those insecurities that we normal folks encounter everytime they spike-up prices,to make our lives miserable;you'll develop a thing call heart;to be more caring for all americans who face the fallout from your greedy missions!!!!!!!!.
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Bugs2010
Champion Author Dallas

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Message Posted: Feb 20, 2013 3:38:37 PM

Why am I not surprised? And tomok, you got it right - stop the exporting.
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tarheelcoastie
Champion Author Greensboro

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Message Posted: Feb 20, 2013 3:38:17 PM

Sad to say, time for gov't mandated price controls on fuel and energy products.

I bet Exxon will break their previous record for most profits ever this year!
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honkerman
Champion Author San Jose

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Message Posted: Feb 20, 2013 3:37:58 PM

REQUIRE DELIVERY OF CONTRACTS! Do not allow roll overs at always higher prices, which enriches speculators at expense of economy and all consumers. It's NOT rocket science, but requires regulators to have some balls in the public interest.
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tomok
Champion Author Portland

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Message Posted: Feb 20, 2013 3:34:24 PM

Spike in gasoline prices points to speculators, manipulators, banks AND Big Oil and Big Gas selling fuel and natural gas on the world market for higher prices.
The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - *$3, *$3.50/gallon or *$4.00 is Not the new low!
More Refineries are Not the answer, Stop exporting fuel is!
Take care of the domestic fuel market first and above all else!
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!
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