News on Gas Prices

Retail Gas Prices Jump, Deliveries Falter By GREG BLUESTEIN, Associated Press Writer



"Out of Gas" signs and yellow caution tape were draped across pumps in parts of the United States early Thursday after many retailers were overrun by panicked motorists looking to top off their tanks as prices soared past $3 per gallon and reports of shortages spread.

Gas stations in and around downtown Atlanta had temporarily run out of gas. The same was reported elsewhere, including parts of North Carolina, West Virginia, Wisconsin and Arizona. Many retailers who did have gas had no clue when their next shipments would come in.

"People have kind of panicked and they're waiting in long lines because they're afraid the prices are going to go up," said Jan Vineyard, executive director of the West Virginia Oil Marketers And Grocers Association. "We're going to have some outages."

Price hikes were first evident at stations nationwide Wednesday as gasoline costs breached $3 a gallon for the first time in numerous states, the result of fuel pipeline shutdowns and delayed deliveries since Hurricane Katrina devastated Louisiana and Mississippi earlier this week.

"Everybody is panicking. They think there's not going to be any gas," said Keturah Jackson, a clerk at a gas station in Atlanta's upscale Buckhead district.

Gas prices jumped by more than 50 cents a gallon Wednesday in Ohio, 40 cents in Georgia and 30 cents in Maine. In southern Illinois, gas prices at some stations jumped more than 50 cents in less than four hours Thursday morning.

The increases followed price spikes on wholesale and futures markets Tuesday after the hurricane knocked off-line refineries and pipeline links along the Gulf Coast that provide about a third of the country's gasoline supplies.

Concerns are now mounting over limited supplies of gasoline, including the possible return of long lines and scarcity reminiscent of the 1970s gas crisis.

"It's crazy," said Mike Currie, shaking his head as he topped off his truck's tank with gas at a station in his hometown of Bismarck, N.D. "I'm going to have to consider buying a Moped."

In trading in Thursday, continuing fears about tight supplies caused by Katrina caused gasoline futures to jump more than 16 cents a gallon on the New York Mercantile Exchange. Analysts expected some relief once electricity is restored to Gulf Coast pipelines and refineries, but they are unsure how long that will take.

This week's increases come atop a 40 percent price rise in the last year that boosted the average retail price of unleaded regular to $2.61 a gallon nationwide last week, Energy Department figures show.

"We don't have a shortage of gasoline. We have a delivery problem," said Bill Weatherspoon, executive director of the North Carolina Petroleum Council, which represents major retailers that get gasoline from the pipelines.

The situation was worse in areas closer to the hurricane's path. In southwest Alabama, gas lines of 100 cars were commonplace early Thursday, extending out onto entrance ramps along Interstate 10. And most of the gas stations were closed, not for a lack of gas but for a lack of electricity to pump it. People were sitting in their cars for hours in anticipation of when power would be restored and the pumps working again.

Brian Scapecchi of Foley, Ala., saw the long lines at gas stations Wednesday and opted to return to a 24-hour station in the middle of the night in hopes the lines would be shorter. He guessed right, and was able to fill up at 12:40 a.m. Thursday.

"I'm sure it will be taken care of in a couple of weeks, but I'm not taking any trips," said Scapecchi, vowing to converse gas and avoid going anywhere over the Labor Day weekend.

Although police in Charlotte, N.C., reported prior to daybreak that only 30 of Mecklenbur County's 230 fueling stations were out of gas, that number appeared to grow considerably Thursday as drivers continued to crowd the open stations, fearing a shortage. On some busy streets, stations that did have gas were seeing lines that were causing traffic backups.

Charles Richardson, assistant manager of a gas station in Charlotte, said his was one of the few stations in the city that had received gas since Monday. "We ran out yesterday, but we got a drop this morning," he said.

The market did receive some help Wednesday when the federal government said it would loan oil from the Strategic Petroleum Reserve to refiners facing shortfalls. And the Environmental Protection Agency said it would temporarily allow gasoline retailers nationwide to sell fuel that does not meet stringent summer air-quality standards.

Several gas stations in the Milwaukee area ran out of gas for several hours at the time. The outages were blamed more on logistical problems on the supply end than any increase in demand.

"Everybody is really trying hard. But it has been very, very difficult to get enough gasoline," said Jim Fiene, senior vice president of the Open Pantry convenience store-gasoline station chain in southeast Wisconsin.

The problems soon could extend far beyond motorists' wallets. Energy experts say they are concerned about how hurricane damage to Gulf Coast natural gas and heating oil facilities will affect heating bills this winter. Rising jet fuel costs because of the hurricane also have put additional pressure on cash-strapped airlines.

In Georgia and North Carolina, state officials asked residents to conserve gas and government workers were ordered to limit nonessential travel. A suburban Atlanta vanpooling program also reported a 50 percent jump in participants since Hurricane Katrina slammed into the Gulf Coast on Monday.

Atlanta's commuter rail system also saw increased traffic Thursday.

"I can tell you there are definitely a lot more people riding today. This lot is never nearly this full this early," said long-time rail commuter Tony Williams, referring to a packed parking lot at a train station east of Atlanta.

Herbie Howard, who owns four stations in Toledo, Ohio, and supplies gas to 17 others, spent hours on the phone hunting a decent price from his suppliers. He had to pay $3.18 a gallon â?? 9 cents more than he was selling it for.

"We aren't making any money," he said. "We're just minimizing our loses, but no one believes you. They think we're price gouging."

At one of the few stations open in Charlotte Wednesday night, Steve Clifford, 48, pumped fuel into his Isuzu sport utility vehicle.

"I heard it was going to go up to $4 a gallon tomorrow and there were going to be shortages, so when I got home from work I kissed my wife goodbye and said I was going out to find gas," he said.

___
http://news.yahoo.com/s/ap/20050901/...gas_prices_hk3

yeah umm don't fill up unless your on Empty. If everyone just goes in to top off there tanks it will just make the prices even higher thats how supply and demand works. I need to buy a bus pass.

yea buy a bus pass b-4 they go up,postage is next.

Man They are doing this to break up america for good. We have oil in texas and oklahoma i know they are raping us to the max soon it will be 6$ and then 10$.. Theres only one way we can stop this We The People will have to take control of our government by anymeans.. im just sayin if u cant see whats really going then lol i just dont know.

Soon anarchism will set in. Better stock up on food, water, guns and ammo.

man bush has FUCKED things up thats what we get for putting a pres that is so involved in oil in power

man this has to be the tipping point for us. Im speechless in texas. Bush can take his oil ass back to hell and that micheal OF THE DEVIL Cherttoff can go with him

Yeah... things are getting fucked up. You know Bush is no longer liked when people from texas (his home state) go slammin that mofo. It's Total Anarchy in New Orleans. A guy shot his sister in the head for a thing of toilet paper. Cops aren't touching it, and here we are in other countries when we can't even control a single town in ours. Ever since we have had bush as president are country has gone to shit.... sad really.... If we can't make it past this who knows how long we'll stay a functioning country, especially with bush as president. He needs to pull all his money out of "the war on drugs" and focus on the needed shit....

Even our gas here( Ontario Canada) is climbing waaay past record highs. And we were all warned tonight of an impending gasoline shortage in Canada within days.
Wow what an impact.
The price and supply of gas will drive the price of absolutely everything up.
Everything depends upon gas/fuel at some point of the chain and that cost increase will be passed onto everyone at the bottom of the ladder rather than being absorbed by the multi billionaires at the top.
This might hurt a little.


BTW its $1.45 a litre in my town according to the news.

the rationalle they are using for raising our gas prices so high in the blink of an eye is that if they dont make them as high as the US prices then we would lose all of our gas to american companies driving up to buy it all at our low prices. They are trying to sell to us the idea that they are doing it for our own benefit with the consumers best interest at heart. Meanwhile the refineries are making up to 3x the profits since this disaster. Im sorry but I just dont understand how making gas too expensive for many people to even buy it to drive to school and work is helping the little guy.So when we do 'run out' of fuel and they are all sitting on a huge pile of money wankin off where will their noble efforts be then? Certainly not shuttling folks to their jobs, not delivering milk and bread, not driving school busses. Nope it will be time to go shopping, and of course start laying people off.
The trickle effect reaches everyone but the ones at the top doing the pissing stay nice and dry.

I have several friends who depend upon gasoline every day for their work to run various machinery. They are locked into contracts and cannot pass their new overhead onto their clients, they have to eat the price increase themselves and thats hard to do for the little guy who will be working harder for less pay. With the prices jumping 50% or more they feel it immediately.

Ok yea yea its my triple post I know but I just did a general calculation and thought youd be interested in the outcome.
Roughly figured our local gas prices are the equivalant of $4.60 USD at the high end, some places cheaper.
What do you think of that?