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To: still learning who wrote (42796)4/20/1999 7:08:00 PM
From: upanddown  Respond to of 95453
 
Based on the % increase from previous prices in Dec., my reckoning is that CA gas at the pump should be about 1.35. Anyone have a good method for calculating this?

Depends on the brand and grade but there is no way that increased costs justify an increase of more than a dime since that translates into a $4 a barrel increase in crude cost. It is really just a contrived supply crisis.

This was my experience with it. I drive to LAX on 3/22. My car is running on fumes but I don't have time to fill it so I park it and run. An ARCO station nearby has gas for 113.9. We fly to Rome and come back on the 30th. I get my car and drive to the ARCO station. I look at the price...145.9...up 32 cents in 8 days...I almost ran off the road. I'am not complaining since I made about 5000x my increased gas costs on my OS stocks while I was in Rome but I have never seen anything like that. I think the oil companies figured this was a perfect time to make up for their slim profits of late.

John



To: still learning who wrote (42796)4/20/1999 7:58:00 PM
From: William JH  Respond to of 95453
 
It is my understanding that all (or most) of the gasoline stations in Ca. had to dig up their tanks and replace them with new ones that are double hulled. I believe the cost is about $150,000 per station.

Within 5 or so miles of where I live (Orange, Ca.) at least 10 stations have gone out of business in the last few years, so I doubt that selling gasoline at retail is always the nutts.



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