Topic: Gasoline prices

[LadyVirginia]

$4.12

and everytime I grocery shop prices are up.

[charlesoakwood]

Today, $3.49, Shell regular.

[Libertas]

$4.12

and everytime I grocery shop prices are up.

That's a fact!  Looks like beef is starting to settle a bit, would like to see it drop, these prices are hard on a carnivore!  But everything is higher/smaller!   

I'll find out about gas today, will hit CostCo on the way home.

[Pandora]

(CNN) -- As the nation's ranches and farms endure one of the most severe droughts in decades, the Obama administration has ordered the Pentagon to look into purchasing a "second helping" of all things meat.

Economists and political analysts who spoke to CNN's Security Clearance, however, aren't optimistic that the administration's plan will bring much relief to the livestock industry, though it may help Obama politically.

The Defense Department is reviewing its purchases of beef, pork and lamb to see if room can be made to buy more now and freeze them for later.
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The military already buys approximately 94 million pounds of beef, 64 million pounds of pork, and 500,000 pounds of lamb each year. That food gets eaten by troops around the world, even in combat zones like Afghanistan.

As part of the same directive, the Department of Agriculture will be buying up to $170 million worth of meat and poultry.

"Farmers and ranchers will have an opportunity to sell more of their products at this critical time, and taxpayers will get a better price on food that would have been purchased later," White House spokesperson Jay Carney told reporters earlier this week.

This can be seen as an "opportunity" for the Defense Department to purchase meat it will need in the future at a lower price today, according to defense budget analyst Todd Harrison with the Center for Strategic and Budgetary Assessments, but economists say the purchase isn't much more than a drop in the bucket for the livestock industry

"It's not going to make very much of a difference," said Jim Dunn, an agricultural economist with Penn State University. "This is one day's meat consumption," he said, referring to the $170 million the Department of Agriculture is directed to spend.

The epic drought has destroyed corn crops, forcing prices to sky-high levels. Livestock feed is primarily made up of corn, so ranchers have to dig very deep to feed the animals they plan to sell. As it becomes more expensive to produce heavier cows or pigs, ranchers are selling off their livestock sooner than usual.

With more product on the market, meat prices drop and with them the profits the ranchers need to buy more feed. The measure announced by the Obama administration is meant to raise the prices of meat by taking more product off the market.

But Dunn points out that the meat isn't disappearing. It's just going into the freezer.

"The meat is still hanging over our heads," he said.

Bruce Babcock, an economist at Iowa State University, agrees that the impact is questionable and that the purchases are just delaying the inevitable.

"Essentially what you are doing is taking purchases that will happen in the future and bringing them to today," he said.

The livestock industry must shrink to be able to afford the cost of corn, he said, meaning that some cattle and hog ranchers, for example, will begin to disinvest and reduce the size of their herds.

"The purchase is delaying the day of reckoning because what it does is, it will raise their prices somewhat now and it will allow them to purchase more feed, but that feed cost isn't going to go down for a year," Babcock said.

Even though the purchase is expected to be only a blip in the market, economist Bob Young, with the American Farm Bureau Federation, says you have to see any movement towards higher prices as a positive.

"It can't hurt," he said. "They're sucking product out of the system."

And with a presidential election just months away, the directive to move meat product off the market can also be seen as politically motivated.

"The people being hurt by the drought and the drop in meat prices are the farmers, the ranchers," said budget analyst Harrison. "So any move to help stabilize the market or keep prices from falling too far can be a political gain."

http://www.turnto23.com/weather/31358877/detail.html

So, Obama and his merry band of thugs are going to "suck product out of the system", and excuse me for believing this isn't going to mean lower prices for us little people.

Stock up now, if you can, while you can.

[Libertas]

Son of a     !

Once again everday Americans are screwed both ways!

[charlesoakwood]

Sounds like a NoCo plan to me.

[Libertas]

Look away!  Nothing to see here...

http://www.npr.org/2012/09/13/161058446/gas-sends-wholesale-prices-up-the-most-in-3-years

Inflation is under control, nothing to fear, all is well, and QE will not exacerbate anything but growth, happiness and joy joy thoughts!!!

/

[John Florida]

3.88 today accross from thye dealership,up.10 cents in 36 hours.

[charlesoakwood]

Yesterday:
$3.52 at local grocery.  Down 7¢.
That was a lucky buy, most common is $3.59.   
Out on the highway it's $3.79.

[Libertas]

I gotta buy this afternoon before the Bernanke-effect kicks in...   

[ToddF]

The price fixing gouge mark is $3.999 now.  Paid $3.829 at Costco.  Darn near a $50 fill up.  Would have been at a SuperAmericaBPHoliday.

[Predator Don]

Not only willi need to fill up the truck today ( est 18 gallons), but the boat needs a drink too.( est 25 gal)

[Libertas]

Between QE2Infinity, Muzzies gone wild, refinery issues, storms...if not for the horrible state of the Obama-economy...these prices could be a lot worse...

http://www.zerohedge.com/news/week-history-gas-prices-have-never-been-higher-0

[Alphabet Soup]

I gotta buy this afternoon before the Bernanke-effect kicks in...   

Too late for me. Paid $4.19/gal yesterday. Ouch!

[Libertas]

4.04 at SA tonight for 92.

I know MNHawk, I know!  (I had a gift card to burn up!)

[Libertas]

Time for folksm in CA to start posting gas prices under Obama on pumps!  Could put CA in play?!

 

http://www.bloomberg.com/news/2012-10-03/california-gas-stations-begin-to-shut-on-record-high-spot-prices.html

[charlesoakwood]

Yeah, what's up with that?
Prices out here are down and also down at the market.

[Libertas]

I dunno, I can get premium for 3.72, .30 cheaper than a couple weeks ago.

They mentioned refineries in the CA article so I am thinking there are some equipment issues there...all our infrastructure is aging and I'm sure regulators are crawling all over to be sure everything to the gnats ass is up to spec before operations resume.  We blow tight money on everything but what we really need these days...

[benb61]

I paid $4.559/gal for 91 in So Cal last night.  That was $.20 more than a week ago.

[Libertas]

I paid $4.559/gal for 91 in So Cal last night.  That was $.20 more than a week ago.

Might be cheaper to get a horse...