NativeAmerican
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posted on August 25, 2003 08:48:59 AM new
U.S. Gas Prices Make Record Jump
10 minutes ago Add Business - AP to My Yahoo!
CAMARILLO, Calif. - Gasoline prices around the country jumped to record highs during the past two weeks as the nation's epic blackout temporarily shut down some refineries and a broken pipeline caused shortages in Arizona.
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The shortages pushed average retail gasoline prices up more than 15 cents a gallon nationally, the biggest two-week hike since the Lundberg Survey began keeping records 50 years ago.
The survey of 8,000 service stations on Friday showed an average of all grades of gasoline reached $1.7484 a gallon, just short of the survey's all-time high weighted average of $1.7608 set last March 21, analyst Trilby Lundberg said Sunday.
The refinery shutdowns, caused by the blackout in parts of the Northeast and Midwest, combined with the break in a major pipeline in Arizona to disrupt supplies, Lundberg said.
The reopening of the pipeline Sunday and the end of the blackout means gas prices should fall, she said. The customary September decline in demand and an influx of imported gasoline also should stabilize prices.
Self-serve regular gasoline showed an average weighted price of $1.7191 a gallon, with mid-grade at $1.8127 and premium grade at $1.9046.
Phoenix had the highest leap in the nation during the two-week period, with prices jumping 60.42 cents a gallon for self-serve regular. On Aug. 22, self-serve regular averaged $2.1425, the highest price in the nation for that grade.
The lowest price for that grade was $1.4920 in Charleston, S.C.
The trouble in Phoenix started when the pipeline ruptured July 30 because of corrosion. The line, which delivers gas from El Paso, Texas, was reopened Aug. 1 but shut down again on Aug. 8 after safety concerns surfaced.
The shortage came to a head last weekend when gas stations began running dry. At its worst, two-thirds of metro gas stations were empty and some that remained open sold a gallon of gas for $3.99 and higher.
The pipeline went back into operation Sunday. Eighty-five percent of the Phoenix area's 700 or so stations had gas on Sunday, according to state officials, but prices remained high.
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jwpc
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posted on August 25, 2003 08:57:54 AM new
NativeAmerican, I don't know how long you have been selling on eBay, but we are going into our 7th year, and there is nothing particularly unique about the sales on eBay for this time of year - it is slow during this period every year - school beginning, and then the Labor Day holiday last hurrah!
In fact one of our web sites is bringing in sales on the same consistent level as it has during the rest of the year.
It is the time of year, what you sell, etc. Certainly the economy has an effect, but I dont see it is in such a condition that it makes this time of year in 2003 any different from all the prior years.
The ONLY unique period of dead sales I have ever seen on eBay was right after 9/11 that was a major dead time but that was a more rare (hopefully) unique incident.
Keep the faith, sales always turn around. Use this slow time constructively to re-do, update auction templates re-word ads seek out new items, etc..... even clean up your desk!
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Fenix03
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posted on August 25, 2003 09:13:26 AM new
Besides - gas prices always jump prior to major holidays, this jump was just aggrivated by the power outage and a pipeline break. In two weeks they will be back to normal
~~~ ~~~ ~~~ ~~~ ~~~
Men Are Like Grapes. If You Stomp on Them and Keep Them in the Dark Long Enough, They Might Turn Into Something That You Would Take to Dinner
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ahc3
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posted on August 25, 2003 10:34:49 AM new
Gas is expensive here, about $1.90 a gallon. I think last year at this time it was $1.50. This means when I fill my 14 gallon tank, I am paying $5.60 more. If that causes me NOT to bid on ebay, then I don't deserve to bid on ebay. A lot of us got refunds recently from the government, I got an $800 check last month. That helps to buy online...The point is you can't take one piece of economic news and place blame...
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AuctionAce
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posted on August 25, 2003 12:04:04 PM new
The cheapo or independent gas stations are charging $2.09 for the lowest octane here in South Bay Area. The name brand gas stations charge a dime or two more.
-------------- sig file ----------- He who angers you controls you
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sarniaflower
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posted on August 25, 2003 12:29:11 PM new
80 cents a liter here today that is about
3.20 a gallon now that is expensive!
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MAH645
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posted on August 25, 2003 12:35:28 PM new
I paid $1.64 for mid-grade today.My car only holds 10 gals so no biggie and it gets 45 miles to the gallon.
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dbest
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posted on August 25, 2003 01:31:23 PM new
I have noticed that there are a lot of listings but not much bids. It seems to be worst this year than ever before. A lot of sellers on ebay are in denial, thinking that things will be back to normal like it use to, but it appears things are worst. Until ebay gives the sellers some fee relief then continual degeneration will set in.
All these ebay cheerleaders are decxeiving a lot of people. Lets see who they are?
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AuctionAce
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posted on August 25, 2003 01:38:47 PM new
I tend to agree with you dbest. Ebay started in 1995 in the Clinton reign of economic boom and now the Bush era of recession is settling in. Ebay has only know boon and not bust until now. After a lousy last third and fourth quarter of selling on ebay many sellers may not have such rosy and automatic ebay sales forecasts. I hope that I'm wrong but my gut feeling is that the weak economy is going to visit ebay very soon.
-------------- sig file ----------- He who angers you controls you
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Blairwitch
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posted on August 25, 2003 02:15:45 PM new
Ace, it has started to effect eBay. I cant believe some of the stuff sellers are listing at rockbottom starting bids, and I mean nice stuff. Infact with their eBay and paypal fees I dont understand how they are doing it. Saturation of the categories is also a factor.
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paws4God
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posted on August 25, 2003 04:20:04 PM new
AuctionAce------
You must remember the President always gets credit or blame for the economy that the previous Pres. created. We will know how Bush did by the end of his term, if he gets re-elected. The economy was on a down spiral 3 years before Clinton finished. Clinton got in on a good up swing and got credit for it. But then this isn't the board to discuss politics is it?
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techanalysis
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posted on August 25, 2003 04:57:23 PM new
The fact that the stock market peaked in March 2000, 8 months before GW was even elected, seems to have been forgotten.
As a securities trader (hence my handle, Technical Analysis), I can assure you that prices of 230.00 (Yahoo) for companies that had yet to earn a single cent per share of earnings was, in Greenspan's words, "Irrational exuberance" at its best.
The whole economy was overblown and due for a correction regardless of who took office. Corporate excesses were everywhere and to this day are still being worked off.
But - hey - this is an ebay forum not Money Watch so I won't rant.
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AuctionAce
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posted on August 25, 2003 05:19:34 PM new
No offense, but I consider securities traders just a tiny notch below lawyers. 
-------------- sig file ----------- He who angers you controls you
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techanalysis
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posted on August 25, 2003 05:27:12 PM new
AA -
Nice post of yours, there. Sounds like you were one of the many losers listening to brokers and analysts.
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AuctionAce
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posted on August 25, 2003 05:50:05 PM new
I wouldn't listen to a broker that merely wants a comission by the portfolio being turned over frequently. That's a prostitute to me.
-------------- sig file ----------- He who angers you controls you
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techanalysis
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posted on August 25, 2003 05:55:04 PM new
I trade for my own account. Brokers and analysist are whores, period. The shills on CNBC and Bloomberg do nothing but line their own pockets with the public's money.
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paloma91
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posted on August 25, 2003 05:56:16 PM new
on the san francisco peninsula regular gas is now 2.09 Thats the cheapest in my area. too bad I don't live in the so bay
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stonecold613
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posted on August 25, 2003 06:36:04 PM new
Here is a different twist.
IMHO
The economy isn't bad. It is way too good.
With the interest rates so low, people are buying the super expensive items, like houses and high end automobiles. With people spending their money on those high end items, they are passing on lower priced items. Instead of the money being spread out to many businesses, it is going to a few select areas.
It is giving the ecomony the appearance of being poor when it is really quite good.
The best thing that could happen to it though is for interest rates to go back up about 3 or 4 percent so it would drive the money back towards less expensive items evening out the economy a bit.
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Fenix03
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posted on August 25, 2003 07:37:00 PM new
Wll - at least we have established that Stones grip on conomic matters is as strong as his grip on eBay.
~~~ ~~~ ~~~ ~~~ ~~~
Men Are Like Grapes. If You Stomp on Them and Keep Them in the Dark Long Enough, They Might Turn Into Something That You Would Take to Dinner
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BIGPEEPA
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posted on August 25, 2003 07:54:01 PM new
Its the economy stupids. I am having GREAT FUN watching Pres.Bush's people keep trying to blame someone else. That is all they do just blame someone else for Bush's failures. I am sure they won't blame Pres.Bush's rich oil buddies for the gas prices. LOL. Like I said it is great fun watching all you Bush people doing the old worn out finger pointing game. Sorry this time I don't believe ya HA HA.
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bootclan
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posted on August 25, 2003 10:02:08 PM new
Take a look at who the Democrats are throwing into the mix to turn things around. What a JOKE! All toghether now - FOUR MORE YEARS!! FOUR MORE YEARS!!
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sparkz
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posted on August 25, 2003 10:52:45 PM new
Some things never change. Ever since I started lurking on AuctionWatch (Vendio) there have been posts blaming the president for slow sales by people who just don't get the message. Bigpisspa, you are only one of many who needs to read Jackswebb tag line. It describes it in a nutshell.
The light at the end of the tunnel will turn out to be an oncoming train.
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