The gas price story

Rising Gas PricesEastern Sierra locals have begun to talk about gas prices again.  Prices at the pump went up recently.  Nearly 38 cents higher per gallon of regular in Mammoth Lakes.  Inyo County prices have edged up too.  National reports blame the oil producers of the world and their manipulation of supply.

Msn.com lists gas prices for Eastern Sierra towns.  Mammoth Lakes – $4.24 to $4.40 per gallon of regular unleaded; Bishop – $3.59 on the low end up to $3.89 per gallon of regular. Lone Pine – $3.69 up to $3.99 per gallon. Lee Vining shows $4.40 up to $4.70 per gallon, and Bridgeport at $4.70.

CNN news host Fareed Zakaria recently reported that the budgets of the countries that produce oil have gone up a lot.  So, to balance their national budgets, he said, these countries want to keep the price of a barrel of oil at a certain high level.  CNN reported that these countries have begun to control the supply of oil to keep prices higher.

Other factors that impact the price of gasoline at the pump are speculative investment in the oil market, taxes, refinery costs and dealer profits.  The Los Angeles Times reported that gas prices are 35 cents per gallon higher this year over last in California.

Consumption of gasoline has fallen.  According to the Times, U.S. drivers are burning about 36 million fewer gallons of gasoline a day than they did a year ago.  The Times also reported that last year was the first time that national averages for gasoline and diesel never fell below $3 per gallon.

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22 Comments
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JJ
JJ
10 years ago

Yes Ken I’m implying Bush was in bed with the Saudi king on bottom.

Steve
Steve
10 years ago

The real reason gas prices have been going up despite declining demand is the devaluation of the US Dollar. Everything is going up in price; food, metals and energy. Washington is printing money to spend via (QE 1, 2, Operation twist) that the value of our earnings (dollars) is declining… Read more »

John R.
John R.
10 years ago

Better get supervisor to take this issue to task too”

JaneE
JaneE
10 years ago

Another thing you don’t hear about is the fact the the state of Nebraska isn’t happy with the pipeline either. They went into special session to pass laws requiring the state to sign off on the pipeline before it is approved. They are concerned about the routing, and the environmental… Read more »

JJ
JJ
10 years ago

Steven- how can you believe Obama is the one to blame for OPEC? The Bush family is rich off of oil and spending the night at their palaces. Remember how our prices were 5 dollars a gal. when Bush sent this economy into a downward spiral.

Ken Warner
Ken Warner
10 years ago
Reply to  JJ
STEVEN
STEVEN
10 years ago
Reply to  JJ

I agree with what you said too. Both Obama and Bush are and have been screwing us. Thats why I am an independent! This Country is being run like it is some kind of football game or something! People are dying over this bull%$*^!

JJ
JJ
10 years ago

I’d like to know why Bishop prices at AM/PM , Googles and the Casino’s prices are always 1 penny different ? I thought price fixing was illegal? Am I wrong?

Ken Warner
Ken Warner
10 years ago

And for all of you who are agonizing over the way Obama is destroying America (again) because he is denying us the oil we need by putting a hold on the Keystone pipeline — here’s a map of the existing major crude oil pipelines. It will be tough but maybe… Read more »

Ken Warner
Ken Warner
10 years ago

…and by the way — the reason why big oil wants to build the Keystone pipeline to the Gulf Coast isn’t to create jobs or free us from dependence on Mid East oil — it’s so the refined products like gasoline can be easily exported to Central and South America.… Read more »

Bemused
Bemused
10 years ago

Two words: Price fixing. Both globally, and locally. Unchecked capitalism will always ultimately rig the system for the benefit of the capitalists…

STEVEN
STEVEN
10 years ago

OPEC and Obama? Get rid of them and it will help a lot. Not only did Obama just reject the oil pipeline from Canada to Texas, that would have created the hundreds of thousands of jobs he has promised, but now OPEC is laughing at us Americans again. Who Isn’t?

Ken Warner
Ken Warner
10 years ago
Reply to  STEVEN

Where do you guys get this stuff? http://www.cbsnews.com/8301-505123_162-57361212/keystone-pipeline-how-many-jobs-really-at-stake/ Transcanada itself cast doubt on its employment forecast when a vice president for the company told CNN last fall that the 20,000 jobs Keystone would create were temporary and that the project would likely yield only “hundreds” of permanent positions. Another reason… Read more »

Bret
Bret
10 years ago
Reply to  Ken Warner

So its better to not do it, after all its not going to be a hugh job creator. Ken your a great defender of Obama, tell me what can we do to creat jobs besides working for the government or get hugh loans from the government to build solar panels?

Ken Warner
Ken Warner
10 years ago
Reply to  Bret

Here’s some ideas off the top of my head: 1) Stop outsourcing high tech jobs to the country with the lowest wages. We have plenty of high tech workers to fill all the jobs. 2) Import duties on stuff made overseas that undercut stuff made here to make a level… Read more »

Steve
Steve
10 years ago
Reply to  Ken Warner

Sounds like protectionist, so Ken tell me one nation that does not benefit from free trade. Based upon history central planning and closing itself from the outside world only resulted in inefficiencies of industry and the decline of society. North Korea does not hire any outside nationals, its based upon… Read more »

Ken Warner
Ken Warner
10 years ago
Reply to  Ken Warner

Us! We don’t benefit from free trade. Think of all the industries we’ve lost. Think of all the jobs we’ve lost. There was a time when the U.S. was the breadbasket of the World. Now we import more than half our food. We are vulnerable to trade disputes because we… Read more »

Ken Warner
Ken Warner
10 years ago
Reply to  Ken Warner

I said we imported over half our food. That’s not correct. We import about 20% of our food. Some categories more than others. We import 80% of our sea food. But given “free trade” and the abundant cheap land and labor outside the U.S. — expect that more and more… Read more »

STEVEN
STEVEN
10 years ago
Reply to  Ken Warner

We need all the jobs we can get in this Country. Even if the pipeline would yield only 10,000 jobs! Remember! Obama allowed thousands of Mexican truckers to come on into our Country to work, thus competing with American trucker jobs and taking American jobs AWAY! This is a fact… Read more »

Wayne Deja
Wayne Deja
10 years ago
Reply to  STEVEN

Yeah,of course…It’s Obama’s fault….Does anyone really think this pipeline would do anything but pad some rich company CEO’s pockets?…The prices of gas wouldn’t drop once it was built….All it would accomplish is the destruction of more wilderness and wildlife along the way…before and after it was built.

HAD ENOUGH
HAD ENOUGH
10 years ago
Reply to  Wayne Deja

When are all of you Greenies going to understand how this world works. Last time I checked your Subarus don’t run on water.

JaneE
JaneE
10 years ago

Let’s not forget that exports of refined petroleum products (gasoline & diesel among them) are twice what they were a decade ago. Domestic crude supplies are up also, and crude in general is (or was) far more plentiful than last year, and oil prices are up only a little, still… Read more »