Gasoline production drops as pump prices drop

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Thursday, August 21, 2008 9:33:17 PM

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GasBuddy News Article

Gasoline production drops as pump prices drop Friday, August 08, 2008
Central Valley Business Times -- With gasoline prices under $4 in most of California for the first time in months, the state’s refiners are cutting back production, according to a weekly report from the California Energy Commission. The state’s refineries made 6,245,000 barrels of gasoline meeting the clean-burning standards of the California Air Resources Board – “CARB” gasoline – during the week ended Aug. 1, the energy commission says. That amount is 1.4 percent less than was produced the week before and 12.2 percent less than the amount refined a year ago. Diesel production was also throttled back.
Visit Central Valley Business Times for full article

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	Friday, August 08, 2008 Central Valley Business Times -- With gasoline prices under $4 in most of California for the first time in months, the state’s refiners are cutting back production, according to a weekly report from the California Energy Commission. The state’s refineries made 6,245,000 barrels of gasoline meeting the clean-burning standards of the California Air Resources Board – “CARB” gasoline – during the week ended Aug. 1, the energy commission says. That amount is 1.4 percent less than was produced the week before and 12.2 percent less than the amount refined a year ago. Diesel production was also throttled back. Visit Central Valley Business Times for full article

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Don1222 Veteran Author Michigan Posts:401 Points:29,605 Joined:Jul 2008	Message Posted: 8/19/2008 7:23:42 AM	Ignore Don1222 Report Abuse
	Price is still $3.79. Not coming down. Independent alternative fuel is needed.
dmatte85 Rookie Author Louisiana Posts:91 Points:9,455 Joined:Jul 2008	Message Posted: 8/19/2008 12:46:59 AM	Ignore dmatte85 Report Abuse
	it's just a big circle. it will keep going back and forth.
Don1222 Veteran Author Michigan Posts:401 Points:29,605 Joined:Jul 2008	Message Posted: 8/18/2008 6:43:12 AM	Ignore Don1222 Report Abuse
	Buy American!!! Develope Alternative fuels!!!
Razzincain Veteran Author Kansas Posts:269 Points:436,155 Joined:Aug 2005	Message Posted: 8/17/2008 8:51:06 PM	Ignore Razzincain Report Abuse
	Diesel was 4.89 gal here 6 weeks ago now its 4.15 8/18/08
magnumCA All-Star Author Los Angeles Posts:864 Points:180,500 Joined:Jan 2008	Message Posted: 8/17/2008 3:47:13 AM	Ignore magnumCA Report Abuse
	same ol
dmatte85 Rookie Author Louisiana Posts:91 Points:9,455 Joined:Jul 2008	Message Posted: 8/17/2008 1:28:00 AM	Ignore dmatte85 Report Abuse
	old news
jim92065 Sophomore Author San Diego Posts:110 Points:25,000 Joined:Jul 2008	Message Posted: 8/16/2008 8:54:53 PM	Ignore jim92065 Report Abuse
	Government needs to get completely out of the business.
POLELANE Champion Author Ohio Posts:1,468 Points:148,175 Joined:Mar 2008	Message Posted: 8/9/2008 11:19:32 PM	Ignore POLELANE Report Abuse
	you tink
Bill313 Champion Author Kansas City Posts:4,837 Points:677,815 Joined:Sep 2006	Message Posted: 8/9/2008 6:28:47 PM	Ignore Bill313 Report Abuse
	In this case, I think government should be watching the store
kingdick Champion Author Minnesota Posts:17,910 Points:1,437,870 Joined:Aug 2004	Message Posted: 8/9/2008 6:02:01 PM	Ignore kingdick Report Abuse
	----------------------------------- Now that there is an election coming the Republicans start talking about doing something. ----------------------------------- In the many years before 2006 the Republicans control of our government did not foster increasing the supply of oil. They also deregulated the markets which has allowed the Speculators freedom to RAISE the price of Crude with no regard to supply and demand. Another bad thing that happened on their watch is all the Control of fuel to very few companies, no competition. ----------------------------------
gas_too_high Veteran Author Columbus Posts:336 Points:309,960 Joined:Aug 2005	Message Posted: 8/9/2008 11:44:52 AM	Ignore gas_too_high Report Abuse
	Wow -- Those California liberals are rediscovering supply and demand. Maybe they'll get behind more drilling to increase supply further and bring prices down.
no1doc Sophomore Author Milwaukee Posts:190 Points:75,720 Joined:Oct 2007	Message Posted: 8/9/2008 11:41:49 AM	Ignore no1doc Report Abuse
	Bunch of bastages.
Gramps252 Champion Author Michigan Posts:9,750 Points:467,550 Joined:May 2007	Message Posted: 8/9/2008 11:17:38 AM	Ignore Gramps252 Report Abuse
	nice video of clips of senate hearings this summer - suggests who really runs this country - (The Ultra Rich) : http://www.msnbc.msn.com/id/21134540/vp/25252591#26099558
reb4 Champion Author Chicago Posts:1,023 Points:108,310 Joined:Sep 2004	Message Posted: 8/9/2008 11:15:53 AM	Ignore reb4 Report Abuse
	ENRON~
t4204life Champion Author Ohio Posts:3,882 Points:773,985 Joined:Jun 2006	Message Posted: 8/9/2008 11:10:54 AM	Ignore t4204life Report Abuse
	Produce less,so you can charge MORE!
economy1 Rookie Author New Orleans Posts:62 Points:21,350 Joined:Apr 2006	Message Posted: 8/9/2008 11:09:10 AM	Ignore economy1 Report Abuse
	There oughta be a law...
toadNY Veteran Author Albany Posts:379 Points:36,560 Joined:Apr 2008	Message Posted: 8/9/2008 11:07:52 AM	Ignore toadNY Report Abuse
	Need to cut back supply to keep PRICES UP! $11.7 BILLON DOLLARS was to little, need $15 BILLION!
Don20 Champion Author Oklahoma City Posts:1,090 Points:925,240 Joined:Mar 2005	Message Posted: 8/9/2008 11:06:45 AM	Ignore Don20 Report Abuse
	They have to hold the price up someway. Cut back is the fastes way.
Bungee Veteran Author Twin Cities Posts:429 Points:308,510 Joined:Oct 2002	Message Posted: 8/9/2008 11:05:27 AM	Ignore Bungee Report Abuse
	Supply and demand.
rtw777 Veteran Author Florida Posts:368 Points:126,760 Joined:Jan 2008	Message Posted: 8/9/2008 11:04:35 AM	Ignore rtw777 Report Abuse
	Maybe they need a break!
mamaberyl Champion Author Alabama Posts:4,332 Points:207,440 Joined:May 2007	Message Posted: 8/9/2008 11:01:24 AM	Ignore mamaberyl Report Abuse
	The first hurricane to hit us will send prices right back up.
brutus Champion Author Alberta Posts:1,302 Points:847,305 Joined:Feb 2003	Message Posted: 8/9/2008 11:01:14 AM	Ignore brutus Report Abuse
	Create a shortage, raise the prices. Maybe the Russian invasion in Georgia is a reason to raise fuel prices?
RWPTraveller Veteran Author Virginia Posts:485 Points:294,225 Joined:May 2007	Message Posted: 8/9/2008 11:00:29 AM	Ignore RWPTraveller Report Abuse
	Sounds like they have smart people running the company...
copperhead8 Champion Author Boston Posts:4,747 Points:1,116,120 Joined:Dec 2004	Message Posted: 8/9/2008 10:58:14 AM	Ignore copperhead8 Report Abuse
	Whatever
Gassie1 Champion Author Akron Posts:3,940 Points:476,335 Joined:Apr 2007	Message Posted: 8/9/2008 10:56:52 AM	Ignore Gassie1 Report Abuse
	Reduce supply and keep prices high, old trick but it works
evasilion Veteran Author Virginia Beach Posts:287 Points:60,580 Joined:Mar 2008	Message Posted: 8/9/2008 10:52:40 AM	Ignore evasilion Report Abuse
	Sounds a little fishy.
bowler48226 All-Star Author Detroit Posts:835 Points:250,645 Joined:Sep 2007	Message Posted: 8/9/2008 10:50:54 AM	Ignore bowler48226 Report Abuse
	Pump prices are not falling in the same percentage as oil prices.
dougrusty Rookie Author Illinois Posts:62 Points:55,315 Joined:Mar 2008	Message Posted: 8/9/2008 10:50:03 AM	Ignore dougrusty Report Abuse
	We gotta make sure that the oil companies don't go belly up.
02SilverStroke All-Star Author Dallas Posts:844 Points:432,405 Joined:Aug 2005	Message Posted: 8/9/2008 10:46:15 AM	Ignore 02SilverStroke Report Abuse
	Yes, this definitely will keep the prices high!!!!
hangupanddrive Veteran Author Michigan Posts:404 Points:856,440 Joined:Aug 2005	Message Posted: 8/9/2008 10:45:53 AM	Ignore hangupanddrive Report Abuse
	Of course, what else would we suspect them to do?
BANANAMAN22 Rookie Author Houston Posts:85 Points:18,175 Joined:Aug 2008	Message Posted: 8/9/2008 10:45:37 AM	Ignore BANANAMAN22 Report Abuse
	OK
Parif Veteran Author Virginia Posts:398 Points:70,740 Joined:May 2008	Message Posted: 8/9/2008 10:42:03 AM	Ignore Parif Report Abuse
	This is a bad idea for us as it probally means gas will go up
momoffourfl Rookie Author Tallahassee Posts:4 Points:805 Joined:Aug 2008	Message Posted: 8/9/2008 10:40:02 AM	Ignore momoffourfl Report Abuse
	yeah! So now we get $4.09 again.....
YLHandyman All-Star Author Orange County Posts:865 Points:139,365 Joined:Feb 2008	Message Posted: 8/9/2008 10:39:06 AM	Ignore YLHandyman Report Abuse
	More manipulation by the oil companies to keep their profits higher.
jackson661 Veteran Author Columbus Posts:273 Points:19,590 Joined:May 2006	Message Posted: 8/9/2008 10:38:51 AM	Ignore jackson661 Report Abuse
	First off cutting back on refinery production is a bad idea. They need to let inventories build so pricing can remain low. State of California is going to keep higher pricing because of this. Refinery production is the key to setting price.
fromdarange All-Star Author Minnesota Posts:768 Points:187,435 Joined:Aug 2007	Message Posted: 8/9/2008 10:38:30 AM	Ignore fromdarange Report Abuse
	Ah, the vicious circle starts to rotate.
Somis1 Champion Author Ventura Posts:4,422 Points:984,900 Joined:Jul 2005	Message Posted: 8/9/2008 10:35:35 AM	Ignore Somis1 Report Abuse
	Cutting production to match demand, or to raise prices?
tomok Champion Author Portland Posts:7,820 Points:629,085 Joined:Aug 2006	Message Posted: 8/9/2008 10:34:21 AM	Ignore tomok Report Abuse
	drop production - raise prices..... Yes! Thats how it works!
southjerseyal Champion Author New Jersey Posts:4,245 Points:679,730 Joined:Mar 2005	Message Posted: 8/9/2008 10:31:47 AM	Ignore southjerseyal Report Abuse
	Figures...
bdrviper All-Star Author Grand Rapids Posts:566 Points:627,280 Joined:May 2006	Message Posted: 8/9/2008 10:28:51 AM	Ignore bdrviper Report Abuse
	and keep on dropping
laddyboy62 Champion Author Riverside Posts:1,125 Points:904,310 Joined:Mar 2005	Message Posted: 8/9/2008 10:27:24 AM	Ignore laddyboy62 Report Abuse
	yup...it is coming down...but ways to go yet
rtw777 Veteran Author Florida Posts:368 Points:126,760 Joined:Jan 2008	Message Posted: 8/9/2008 10:25:49 AM	Ignore rtw777 Report Abuse
	Keep in mind this is the left coast. Someone there shoul ask WHY?
jdbgn Champion Author Los Angeles Posts:2,784 Points:459,175 Joined:Apr 2007	Message Posted: 8/9/2008 10:25:01 AM	Ignore jdbgn Report Abuse
	Gotcha by the short hair, don't they? They do have most of the marbles.
gmac310 Rookie Author Maine Posts:7 Points:23,940 Joined:Sep 2005	Message Posted: 8/9/2008 10:24:27 AM	Ignore gmac310 Report Abuse
	SSDD!!
Mr.Dirt Champion Author Albany Posts:1,548 Points:1,187,705 Joined:Mar 2004	Message Posted: 8/9/2008 10:21:50 AM	Ignore Mr.Dirt Report Abuse
	ok
gougedQC All-Star Author Montreal Posts:670 Points:12,365 Joined:Apr 2008	Message Posted: 8/9/2008 10:21:47 AM	Ignore gougedQC Report Abuse
	Consumers try to do their part to reduce consumption and bring down prices, the fuel companies retaliate (yes retaliate!) by cutting production thereby yet again creating totally artificial shortages. The only method of getting even is to buy stock in these (expletive deleted) companies, but can't coz too much of my cash is spent on filling up the tank (and the dinner table-thank you ethanol) leaving none for stock purchases
cantonbill Veteran Author Atlanta Posts:320 Points:93,800 Joined:Mar 2008	Message Posted: 8/9/2008 10:21:42 AM	Ignore cantonbill Report Abuse
	The markets have been watching everything lately, including gasoline inventory. If gasoline inventory drops, that drives up the cost of crude. So this is a blatent scheme by the refiners to lower inventories and help keep crude prices up.
rockinrog Veteran Author Ontario Posts:479 Points:596,100 Joined:May 2006	Message Posted: 8/9/2008 10:18:29 AM	Ignore rockinrog Report Abuse
	They have the nerve to cry that they are at full tilt production and can't keep up with demand....now demand has dropped a measily 1.4% and they are cutting back production...I SMELL A SCAM HERE!!
bumpygas Sophomore Author Nebraska Posts:150 Points:246,825 Joined:Oct 2007	Message Posted: 8/9/2008 10:18:19 AM	Ignore bumpygas Report Abuse
	And they say that oit companys don't have the public over a barrel. HA!!!
SueB1863 Sophomore Author Toledo Posts:235 Points:16,045 Joined:Apr 2008	Message Posted: 8/9/2008 10:18:10 AM	Ignore SueB1863 Report Abuse
	Prices will NEVER be at $75 a barrel again, for just this very reason - if it gets anywhere near there the producers will simply cut the supply. Very easy to keep it well over $100 a barrel this way.