Comments about ‘Utah gas prices rise 28 cents in just one month’

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Published: Wednesday, May 14 2014 8:38 p.m. MDT

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UtahBlueDevil
Durham, NC

It's happening nationally.... and the price of oil has not wavered more than a percent or two over the last 4 or 5 months. Just a reminder that in this case, price has little to do with supply, nor demand.

Shawnm750
West Jordan, UT

So when supply is low, the price goes up. When supply is high, the price goes up. Now, I'm no economist, but I thought an increase in supply meant prices were supposed to drop... Seems we ALWAYS have a reason why prices are up here in Utah. There's always some refinery maintenance/issue that's to blame for the increase.

Rick2009
MESA, AZ

In a perfect world where politicians, economists and governments did not play games, the law of supply and demand would work. But we no longer live in that world, regardless of what the econ teacher teaches. Be prepared for rising gas prices in the next few years as laws are and have been manipulated outside of what is being reported by mainstream media. The falling dollar has a lot to do with it.

Liberal Ted
Salt Lake City, UT

Yes we can! Yes we can! Yes we can!

Fred44
Salt Lake City, Utah

We have to keep raising prices, that is the only way that each quarter the oil companies can set new records for profit. Remember though without that taxpayer welfare for oil companies we would be paying even more.

Wanderer
West Jordan, UT

"Utah, on the other hand, is following its own characteristic pattern of pricing..." That really should read something like this: "Utah petroleum dealers continue to ignore the supply and demand facts to continue their gouging of the public, hiding behind vague and confusing statements about so-called refinery issues."

RichardB
Murray, UT

current price per barrel, $110. Price a month ago $100. They can make 19 gallons from one barrel, with many by products.

Fracking North Dakota, and the largest oil boom in US history has not helped America's drivers. It's a lie when they tell us how drilling in primitive and pristine areas will benefit us.

wer
South Jordan, UT

Currently, the US refines enough gasoline to meet our needs. In theory, prices across the nation should not be affected by the cost of oil in the Middle East or anywhere else.
Much, if not most, if not all, gasoline sold in Utah is refined here. Therefore, our costs should be cheaper year round. However, suppliers and retailers charge what they can get. The higher the better for them.
While gasoline prices are not allowed to be set by competing companies, the difference between the highs and lows in an area don't change much.
One interesting fact currently: Costco and Sam's Club locations are charging about .17 less a gallon than other dealers. Clearly, we should be shopping at these locations to help drive the price down at other places.

Concinnity
Richfield, UT

I think something is wrong when gas in the rest of the country has dropped 20+ cents per gallon at the same time it has increased 28 cents per gallon here in Utah. That's a half dollar a gallon difference. I don't see how anyone can justify that much of a variation.

But beyond that, we're still sitting in 25th place nationally out of 50 states. That's smack dab in the middle, which in one sense doesn't leave much to complain about when viewing the big overall picture. As long as we can be at average or below compared to the rest of the country, that isn't terrible.

That said, the market supply dynamics in Utah are somewhat different than much of the country, which does make an argument for lower than national average prices here. Like one comment mentioned, Utah doesn't have to import much (if any) of it's supply. Therefore, our price fluctuations should be fairly low overall... pending something like a refinery fire or some unusual circumstance. I haven't read or heard about anything like that happening lately to justify this latest larger than average jump in prices.

UtahBlueDevil
Durham, NC

RichardDB... your probably referring to two different type of crude. There is Brent Crude which is always about $10 more a barrel, and then normal spot quote oil with as of this writing is $101.62... right in the middle of the trading range it has been in for months.

And congress is on the verge of voting on a bill that would allow for the first time in decades the export of crude from the US to other nations. We have been able to ship refined product... not crude.

Its a funny business charged with lots of emotion... and a lot less facts.

Baron Scarpia
Logan, UT

Price of wind power in Spanish Fork? No change. Price of wind power in Milford? No change.

Darn renewable energy. Once its in the ground, its price doesn't change. Boring! Not Putin, not nuclear disaster, not bad weather, not drought, not wild fires, not coal mining accidents... nothing impacts its price once its built.

Renewable energy prices are locked in contracts and are known and predictable till the end of the contract. Spanish Fork's contract runs out in 2028. We know the price of its wind power then. We don't know the price of oil or natural gas in 2028, let alone in the next six months.

The quicker society moves to renewable energy for electricity and switches to electric vehicles, the days of worrying about yo-yo oil prices will be sorry memory.

one vote
Salt Lake City, UT

Private companies should not be regulated at all in Utah by "big government".

The Real Maverick
Orem, UT

Gas is traded as a commodity. As a result, speculators, nor supply & demand, determine the price of gas. Unfortunately, the commodities market is one of the least regulated for corrupting and price gouging. You can thank Mr. Reagan for that. Yet another triumph for the party of low information voters.

Lowonoil
Clearfield, UT

I enjoy coming here and reading all the different theories of which bad people are denying us the dollar a gallon gas that is our American birthright. If the price of gas upsets you move somewhere where you don't have to drive to survive.
If you are not incarcerated you get to choose where you live and work. And if you are incarcerated you probably don't drive much.

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