10 cents in 22 hours?

[Scot]

I heard something on a news report this am. They were interviewing someone who monitors global supplies of oil. (sorry, I don't remember the specifics) He basically said stocks of oil are high at this time there is no supply issue driving the cost up. He also said we should expect to see $4 by summer, regardless of if there is a supply issue.

There goes the argument of "supply & demand, we don't have any control over it.... blah blah blah"

Back to on topic. Michigan seems have the most volitile place for fuel prices. Pre-Katrina, the highest I ever saw was 2.50 - Post-Katrina the price everywhere in this state was 3.80-4.20 -- Since then I have not seen it below 3.00 -- Driving around yesterday I saw a low of 3.27 and a high of 3.79

Here's a thought; Are we still paying farmers not to farm??? Maybe they should stop that and have them grow soy. IF enough of them got off the government teet all of our grocery bills wouldn't rise with with increased bio demand. I'm not slamming the farmer, just the scewed up system that created the teet.

I better stop, my ADD is kicking in, Sorry

 

[powerboatr]

according to this from doe feb oil should be 87 a barrel vice 100
doe

 

[CHPMustang]

Recent news like This doesn't help anyone

 

[Blue01F250]

yah -- I was about to say -- seems everyone is forgetting a refinery exploded in Big Spring Tx within the last week, putting a cramp on supplies, or the expected supply for the spring/summer b/c the refinery will be down for 3-4 months.

also add in Exxon having troubles with Hugo (ConocoPhillips and all the others have already pulled out and are going thru the legal wrangling trying to get what they deserve for what he took from the companies) and the other things that were said in this thread and it all adds up to expensive crude...

plus everyone forgets ULSD costs much more to produce than LSD did...

 

[Beatngu]

I feel for the independant truckers out there.

 

[F350DRW1]

I feel for the independant truckers out there.

Thank you. I AM an independent trucker!

 

[kbud14]

oh and we have record surpluses of corn for feed but corn climbed again as the new drive for ethanol came on, even though we could feed all the cows and still have enough corn left over to cover north america 2" deep

feed for how long, a day?

 

[Scot]

Thank you. I AM an independent trucker!

I've always been curious. Do you get to change your hauling rates as the cost of fuel goes up? Or are you just expected to take the hit and make less?

 

[95_stroker]

Guys,

Mr. Chavez is creating more problems in Venezuela again. That would be the biggest reason for the jump. OPEC also announced cuts in the last few days. Its all right there on the news.

 

[Scooter]

I've always been curious. Do you get to change your hauling rates as the cost of fuel goes up? Or are you just expected to take the hit and make less?

It depends on the type of contract they have. When fuel first started going up over $2 a gallon, a lot of truckers were getting caught because they did not have any fuel surcharges to allow for the increase. When it happened it put a serious crimp on some of the big guys and put the little guys under. Now nearly everyone has a fuel surcharge on their pricing. Usually they will have a base price, say $1.50 a gallon (Example) then for every 5 cents it goes up over the base price, they get another penny a mile. So at $3.50 a gallon, instead of making $1 a mile, they are getting paid $1.40 a mile. Some of them have figuredout that if they keep a feather foot on the accelerator, they can actually make more money. Of course, it is still not enough for what they are expected to do, for the most part.