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GasBuddy News Article

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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


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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:3,868
Points:1,054,700
Joined:May 2012
Message Posted: Feb 21, 2013 12:29:32 AM

The whole industry is screwed up.
SUV2009
Champion Author Orlando

Posts:6,606
Points:1,849,445
Joined:Oct 2009
Message Posted: Feb 20, 2013 2:39:21 PM

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

Posts:2,705
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Message Posted: Feb 20, 2013 2:05:46 PM

Tax the hell out of them.
NightRider
Champion Author Dallas

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Joined:Apr 2012
Message Posted: Feb 20, 2013 1:01:28 PM

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

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Message Posted: Feb 20, 2013 12:58:50 PM

Ok
honkerman
Champion Author San Jose

Posts:64,249
Points:3,172,905
Joined:Jul 2004
Message Posted: Feb 20, 2013 12:46:24 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:137
Points:601,840
Joined:Apr 2011
Message Posted: Feb 20, 2013 12:44:57 PM

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

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Points:1,652,340
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Message Posted: Feb 20, 2013 12:44:15 PM

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

Posts:8,410
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Joined:Jan 2009
Message Posted: Feb 20, 2013 12:39:52 PM

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

Posts:5,023
Points:1,947,155
Joined:May 2005
Message Posted: Feb 20, 2013 12:39:31 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

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Message Posted: Feb 20, 2013 12:37:21 PM

Another reason to raise gas prices.
tomok
Champion Author Portland

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Message Posted: Feb 20, 2013 12:34:35 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:4,343
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Message Posted: Feb 20, 2013 12:31:11 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

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Points:975,630
Joined:Apr 2010
Message Posted: Feb 20, 2013 12:27:03 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:1,309
Points:1,804,590
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Message Posted: Feb 20, 2013 12:26:32 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

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Message Posted: Feb 20, 2013 12:22:50 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

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Message Posted: Feb 20, 2013 12:21:59 PM

As expected!!!
Grinch09
Champion Author Grand Rapids

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Joined:Dec 2009
Message Posted: Feb 20, 2013 12:21:55 PM

Marvelous
njerald
Champion Author Seattle

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Message Posted: Feb 20, 2013 12:21:10 PM

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

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Message Posted: Feb 20, 2013 12:18:08 PM

Hang the speculator vermin.
pliskin
Champion Author Syracuse

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Joined:Apr 2005
Message Posted: Feb 20, 2013 12:15:21 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

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Joined:Jan 2012
Message Posted: Feb 20, 2013 12:10:25 PM

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

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Joined:Aug 2003
Message Posted: Feb 20, 2013 12:09:27 PM

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

Posts:7,754
Points:2,055,135
Joined:Jul 2007
Message Posted: Feb 20, 2013 12:08:23 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

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Message Posted: Feb 20, 2013 12:02:50 PM

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

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Joined:Jan 2013
Message Posted: Feb 20, 2013 12:02:40 PM

no kid
OOXXFF
Champion Author Greensboro

Posts:6,243
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Message Posted: Feb 20, 2013 12:01:41 PM

Gas prices are too high.
73amx
Champion Author Allentown

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Message Posted: Feb 20, 2013 11:59:49 AM

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

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Message Posted: Feb 20, 2013 11:59:47 AM

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

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Message Posted: Feb 20, 2013 11:59:07 AM

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

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Message Posted: Feb 20, 2013 11:58:56 AM

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

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Message Posted: Feb 20, 2013 11:56:37 AM

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

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Message Posted: Feb 20, 2013 11:55:15 AM

Speculators are the problem!
Lizzylou
Champion Author Stockton

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Message Posted: Feb 20, 2013 11:50:51 AM

"SPECULATORS" AGAIN!!!
caddilac
Champion Author Ontario

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Joined:Apr 2007
Message Posted: Feb 20, 2013 11:50:19 AM


" 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

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Message Posted: Feb 20, 2013 11:49:54 AM

Right on, pulpwood!
DeeLA
Champion Author Los Angeles

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Message Posted: Feb 20, 2013 11:48:54 AM

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

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Message Posted: Feb 20, 2013 11:47:34 AM

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

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Message Posted: Feb 20, 2013 11:46:54 AM

no kidding
yonasb
Champion Author Houston

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Message Posted: Feb 20, 2013 11:46:51 AM

crazy world
zudo
Sophomore Author Phoenix

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Joined:Sep 2006
Message Posted: Feb 20, 2013 11:46:17 AM

"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
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Message Posted: Feb 20, 2013 11:45:30 AM

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

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Message Posted: Feb 20, 2013 11:44:19 AM

Speculators again!
NightRider
Champion Author Dallas

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Message Posted: Feb 20, 2013 11:42:07 AM

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

Posts:1,590
Points:317,675
Joined:Mar 2007
Message Posted: Feb 20, 2013 11:40:11 AM

How is this President Obama's fault?

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

Posts:6,835
Points:2,903,990
Joined:Dec 2005
Message Posted: Feb 20, 2013 11:39:09 AM

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:12,252
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Joined:Feb 2006
Message Posted: Feb 20, 2013 11:38:51 AM

"...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 11:36:43 AM

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

Posts:9,442
Points:2,523,555
Joined:Jul 2007
Message Posted: Feb 20, 2013 11:36:18 AM

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

Posts:879
Points:200,830
Joined:Sep 2011
Message Posted: Feb 20, 2013 11:34:19 AM

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
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Message Posted: Feb 20, 2013 11:30:38 AM

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