The rumors here in KC are that Gasoline prices are going up to $5.00 per gallon. Lines are reportedly very long at area stations.
[list=A][li]Is anyone else seeing this phenomenon?[/li][li]Will it really happen?[/li]Why?[/list=a]
- Yes, but not nearly as bad.
- Yes. Oil prices are already up.
- Right now, greed. Same thing happened a couple of years ago when the area (Savannah, GA) was evacuated for a hurricane (which never got close). There should be some kind of penalty for this type of gouging.
I didn’t see any lines in L.A. Prices were the same. The supply of gasoline wasn’t affected by the Persian Gulf War that adversely. It’s not as if the supply of gas is controlled by terrorists.
Well, regular at my favorite station in metro Atlanta went from $1.179 yesterday afternoon to $1.339 early this AM, several hours before the terrorist attacks. You think they knew something? 
Seriously, I haven’t seen any lines or major price hikes (other than the one mentioned above) here in Atlanta. In fact, traffic seems to be relatively normal.
FWIW, I read something similar to this on Slashdot earlier today, applied to Indianapolis; AFAIK, it wasn’t true there either.
I would really like to know if there is anything to this rumor. I don’t find any reputable source saying that a drastic rise is likely. Please post if you do find one.
The rumor is alive and well in Evansville, IN, with huge lines and traffic jams forming this afternoon.
According to a guy discussing the attack, gas went up $6 a barrel before the attack and he feels that gas prices per barrel may drop once America gets into revenge mode because OPEC might have second thoughts about screwing a pissed off America which is on war footing and ready to strike almost anything with Middle East attached to it.
Finally, some definite information – and reports that the bigger companies are instigating a freeze on prices to counteract the obvious gouging that’s going on:
http://www.usatoday.com/money/markets/2001-09-11-oil-surge-attack.htm
In Akron, Ohio, the price range the last few days was 1.49-1.65
Still the same tonight. But the lines, Oh the lines. I just came home from local station. Didn’t feel like being number 25 in line in either direction. I wasn’t tring to fill up out of panic, I was almost out of gas. Hopefull the public won’t awake before I get there at 6:30 in AM
this is Y2K hysteria.
I’m in Detroit.
I filled up my vehicles 2 days ago and it lasts about 10 days. All the gas stations are lined up but prices have been about 1.79, which is about what they were before.
There’s no market reason for the fluctuation yet. The local radio had a President from Marathon and he said all refineries are operational and supply is there. Any increases is simply due to gouging by local owners.
Remember who those bastard opportunistic scumbags are who profit on death!
I was in shock at 10:30 (CDT) the radio was reporting to expect gas prices to go up in the Chgo area 50 cents to a dollar a gallon.
I was like what does the WTC bombing have to do with this?
There is a (tiny) bit of evidence supporting this.
Supposedly, the gas pipelines and storage facilities were shut down out of fear that they too could be hit. This would lead to a small, temporary decrase in supply.
4 or 5 (or more) bucks a gallon is nothing but pure gouging though.
The lines here in Madison, WI are (or were) down the street in some cases. A friend called and said gas was already $5/gallon in Green Bay. Any GB dopers to confirm this?
If so, I second Mr Bue Sky’sidea of penalties for the gougers.
Course, gas lines around the block can drive up prices in a hurry too. Good ol’ Econ 101-style supply and demand.
Here in AR, at least, the public has been told by the Governor that there IS an ample supply of gas, for at least the time being, and that stations price-gouging are to be reported to the att. general immediately.
In my neck of the woods, for what it’s worth, gas prices are going to stay normal for at least a little while.
I was out again tonight and went past the gas station where I bought gas earlier today. It was still $1.59 and there were still no lines.
Not much traffic today, although it was bad in the morning in LA because most people got to work and then got sent home.
My error. On one of the news reports today, I heard that the filthy Arabs jumped the price up $5 a barrel – after the bombing. Nice folks. Me thinks that perhaps they also might be against the wall when the American Giant retaliates?
I filled up about 5:30 last night after hearing about the ol prices rising. It was $1.669 then, and $1.799 this morning. Channel 2, Detroit, found one station selling gas for $5.00 a gallon (12 mile & Schoenner, if you’d like to buy some 
), but they closed and took down the prices as soon as they saw the TV people.
First off, crude is a commodity and is traded like gold and silver, so if the price rose $5 a barrel then there was a buyer and seller at the increased price.
Secondly if crude prices rose $5/barrel, that should only translate into approx. 15 cents per gallon increase costs of refined product (gasoline).
[1 barrel = 42 gallons
42 gallons * 80% avg. refinery conversion yield = 33.6 gal
$5 / 33.6 = 15 cents ]
No increases here. The price is still $1.43 a gallon for regular.
Oh, yeah. I forgot … not used to the sig yet.
OP’er here - it seems the Gas Craze has calmed down… at least in KC anyway.
It was one of those self-fulfilling prophesy things: Someone said that Gas Prices would probably go up and that started a panic… the radio stations reported the panic, and people heard only enough of the report to succumb to the panic. Stupid.
When I left my office last night, there were about 75 cars in line at both gas stations I passed. This morning? Nothing.
Plus the newscasts last night all shared the same info: There’s plenty of gas; calm down.
The few stations that gouged customers at prices upwards of $4.00/gallon will most likely face charges. I love it.
Bit of an off-shoot, I know, but a heart-warming one…
Last year we had a real petrol shortage in the UK when truck drivers and farmers blockaded the refineries to protest about the ridiculously high tax we are charged on fuel (277p per UK gallon, I think about 340 cents per US gallon).
As you are seeing in the US, some unscrupulous sellers decided to make a quick profit, and bumped their prices up spectacularly - one man was charging 5 pounds per LITRE!
The nice part of the story though is that the people who were being fleeced didn’t have short memories, and shunned the worst profiteers once the crisis was over, putting them out of business.
Oh - and while I’m rambling, the self-fulfilling prophecy thing sdimbert was talking about is certainly a powerful force… Rumours here started that a second blockade was about to begin (a Welsh reporter had made a mistaken announcement), and before we knew it, queues were forming again. I saw a reporter ask one man why he had queued for an hour just to get a few pounds worth of fuel (his car, like most people’s, was full). His answer was “Dunno - I saw another queue, so thought I’d better join it!”.
James.