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Speculators draw fire for U.S. gas prices

UPI -- Speculation in commodities markets is in part to blame for the steady rise in U.S. gasoline prices, a petroleum trade group official said.

Motor group AAA reports U.S. drivers paid, on average, $3.75 for a gallon of regular unleaded gasoline Tuesday, up 15 cents compared to the same time last week.

A series of refinery outages, a switch to more expensive summer blends of gasoline and higher oil prices are also behind the price increase.

Mark Griffin, president of the Michigan Petroleum Association, told the Detroit Free Press that spring price fluctuations are normal but usually not this early.

"This year it seems to be a couple of weeks early," he said. "And what drives most of it is speculation; the oil markets start speculating that the demand is going to come and that drives (price

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Submitted Feb 20, 2013 By: skb69sa

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SkooterG Champion Author Phoenix Posts:1,369 Points:344,185 Joined:May 2012	Message Posted: Feb 21, 2013 3:29:32 AM Ignore SkooterG Report Abuse The whole industry is screwed up.
SUV2009 Champion Author Orlando Posts:4,488 Points:1,165,240 Joined:Oct 2009	Message Posted: Feb 20, 2013 5:39:21 PM Ignore SUV2009 Report Abuse Blame who you want still no change here.
briinnc Champion Author North Carolina Posts:2,705 Points:834,820 Joined:Jan 2010	Message Posted: Feb 20, 2013 5:05:46 PM Ignore briinnc Report Abuse Tax the hell out of them.
NightRider Champion Author Dallas Posts:1,478 Points:83,160 Joined:Apr 2012	Message Posted: Feb 20, 2013 4:01:28 PM Ignore NightRider Report Abuse OK, ...... http://nextnewsnetwork.com/
FogCitySpotter Champion Author San Francisco Posts:2,620 Points:548,540 Joined:Apr 2007	Message Posted: Feb 20, 2013 3:58:50 PM Ignore FogCitySpotter Report Abuse Ok
honkerman Champion Author San Jose Posts:45,245 Points:2,424,795 Joined:Jul 2004	Message Posted: Feb 20, 2013 3:46:24 PM Ignore honkerman Report Abuse Require delivery of contracts instead of allowing them to be rolled over. That will solve the problem while still allowing legit users to fulfill their needs.
Radicalrose Sophomore Author Modesto Posts:129 Points:382,055 Joined:Apr 2011	Message Posted: Feb 20, 2013 3:44:57 PM Ignore Radicalrose Report Abuse I agree with Mickey, take it away from Wall Street and Speculators!!!!!!!
g747 Champion Author Mobile Posts:4,682 Points:961,370 Joined:Jul 2009	Message Posted: Feb 20, 2013 3:44:15 PM Ignore g747 Report Abuse Please revert to my previous statements!!!!!!!.
tarheelcoastie Champion Author Greensboro Posts:5,326 Points:1,138,345 Joined:Jan 2009	Message Posted: Feb 20, 2013 3:39:52 PM Ignore tarheelcoastie Report Abuse Surprised someone hasn't developed a bounty system for oil and gas speculators???
wulf2000 Champion Author Miami Posts:3,161 Points:1,412,405 Joined:May 2005	Message Posted: Feb 20, 2013 3:39:31 PM Ignore wulf2000 Report Abuse More hot air from politicians. Markey said he will attempt to keep speculators away from oil. How is goign to do this?
elcid1300 Champion Author San Diego Posts:1,784 Points:338,775 Joined:Jul 2012	Message Posted: Feb 20, 2013 3:37:21 PM Ignore elcid1300 Report Abuse Another reason to raise gas prices.
tomok Champion Author Portland Posts:33,598 Points:2,373,210 Joined:Aug 2006	Message Posted: Feb 20, 2013 3:34:35 PM Ignore tomok Report Abuse Speculators draw fire for U.S. gas prices and they should draw fire for raising the price of fuel at the pump for no other reason then to line their big bottomless pockets with money at the expense of the consumer. Fuel prices should be cheaper so the economy can recover just a little bit faster. 'Coming out of the closet' Sneeky's lousy, smoke and mirrors, lack of jobs, dog and pony show and in the crapper economy, the jobs are Not here. Sneeky's economy is not improving but continues to hurt the population and the job numbers continue to be down! NO More spending gone wild, there has to be a limit! Four more long years before this country's economy will begin to recover. Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. The price of fuel at the pump is too high!
Gary9696 Champion Author Detroit Posts:1,259 Points:256,455 Joined:Jul 2008	Message Posted: Feb 20, 2013 3:31:11 PM Ignore Gary9696 Report Abuse Looks like this is the problem: Non-commercial financial speculators now dominate 70 percent of the market. The trading is dominated by Wall Street banks, hedge funds and other financial institutions that have no intention to take delivery of the oil needed to make gasoline.
bluetruck54 Champion Author Quad Cities Posts:1,588 Points:463,660 Joined:Apr 2010	Message Posted: Feb 20, 2013 3:27:03 PM Ignore bluetruck54 Report Abuse the commidities markets are in a world of themselves.....the common consumer has no choice in the matter. as to spring fluctuations being normal: annual excuse because they are allowed to do so.
suportoffroad00 Champion Author Wisconsin Posts:1,065 Points:1,209,210 Joined:Aug 2007	Message Posted: Feb 20, 2013 3:26:32 PM Ignore suportoffroad00 Report Abuse 3.84 per gallon here in Northern WI and I am sure will go up again on Thursday because it can.
Mikeyl Champion Author Cleveland Posts:5,302 Points:1,211,595 Joined:Aug 2004	Message Posted: Feb 20, 2013 3:22:50 PM Ignore Mikeyl Report Abuse I'd speculate that we should remove all speculators from the oil markets. Oil should be purchased DIRECTLY and not through Wall Street.
DancingDee Champion Author Gary Posts:4,418 Points:1,061,995 Joined:Jul 2005	Message Posted: Feb 20, 2013 3:21:59 PM Ignore DancingDee Report Abuse As expected!!!
Grinch09 Champion Author Grand Rapids Posts:1,749 Points:84,725 Joined:Dec 2009	Message Posted: Feb 20, 2013 3:21:55 PM Ignore Grinch09 Report Abuse Marvelous
njerald Champion Author Seattle Posts:7,964 Points:1,650,775 Joined:Oct 2007	Message Posted: Feb 20, 2013 3:21:10 PM Ignore njerald Report Abuse Speculation is good..........
mdskier Champion Author Maryland Posts:10,077 Points:1,810,340 Joined:Aug 2005	Message Posted: Feb 20, 2013 3:18:08 PM Ignore mdskier Report Abuse Hang the speculator vermin.
pliskin Champion Author Syracuse Posts:6,207 Points:1,759,260 Joined:Apr 2005	Message Posted: Feb 20, 2013 3:15:21 PM Ignore pliskin Report Abuse And well they should draw heavy fire for continuing to play their silly game on the World's stage! I only hurts the people of the world with their constant daily chess game!
Rhino8of8 Champion Author Wisconsin Posts:1,346 Points:400,515 Joined:Jan 2012	Message Posted: Feb 20, 2013 3:10:25 PM Ignore Rhino8of8 Report Abuse I'm feeling pretty much the same as lkozark
Cachase1 Champion Author Oklahoma City Posts:11,589 Points:2,407,785 Joined:Aug 2003	Message Posted: Feb 20, 2013 3:09:27 PM Ignore Cachase1 Report Abuse They "Draw Fire", does that mean someone is shooting at them? This is good news.
lkozark Champion Author Missouri Posts:5,235 Points:1,391,910 Joined:Jul 2007	Message Posted: Feb 20, 2013 3:08:23 PM Ignore lkozark Report Abuse Pig-Oil and Speculators are in control and no one will challenge them on behalf of the consumers. Until alternative solutions are available we are their slaves.
condé Champion Author Michigan Posts:3,816 Points:1,830,940 Joined:Oct 2004	Message Posted: Feb 20, 2013 3:02:50 PM Ignore condé Report Abuse I wait for the market to crash!!
bmxstud Veteran Author Chicago Posts:279 Points:115,840 Joined:Jan 2013	Message Posted: Feb 20, 2013 3:02:40 PM Ignore bmxstud Report Abuse no kid
OOXXFF Champion Author Greensboro Posts:3,193 Points:1,106,655 Joined:Sep 2009	Message Posted: Feb 20, 2013 3:01:41 PM Ignore OOXXFF Report Abuse Gas prices are too high.
73amx Champion Author Allentown Posts:1,312 Points:487,445 Joined:Sep 2011	Message Posted: Feb 20, 2013 2:59:49 PM Ignore 73amx Report Abuse speculators say thge price will go upsays, OK the people know about it so it's OK to raise them now.
calripken_8 Champion Author Virginia Posts:3,041 Points:686,890 Joined:Jun 2011	Message Posted: Feb 20, 2013 2:59:47 PM Ignore calripken_8 Report Abuse I agree with the below: "Just a bunch of lame excuses. Why wasn't the Fed printing money part of the problem?"
Ken825 All-Star Author Pennsylvania Posts:757 Points:172,185 Joined:Nov 2012	Message Posted: Feb 20, 2013 2:59:07 PM Ignore Ken825 Report Abuse Just a bunch of lame excuses. Why wasn't the Fed printing money part of the problem?
UpSol7 Champion Author Augusta Posts:1,709 Points:784,625 Joined:Sep 2008	Message Posted: Feb 20, 2013 2:58:56 PM Ignore UpSol7 Report Abuse Suzmar---- "make them take delivery" lolol
suzmar Champion Author Texas Posts:2,223 Points:896,935 Joined:Jun 2006	Message Posted: Feb 20, 2013 2:56:37 PM Ignore suzmar Report Abuse Speculators are always part of the problem, make them take delivery!
slowpoke63 Champion Author Louisiana Posts:2,817 Points:903,890 Joined:Jul 2009	Message Posted: Feb 20, 2013 2:55:15 PM Ignore slowpoke63 Report Abuse Speculators are the problem!
Lizzylou Champion Author Stockton Posts:8,818 Points:2,357,285 Joined:Oct 2005	Message Posted: Feb 20, 2013 2:50:51 PM Ignore Lizzylou Report Abuse "SPECULATORS" AGAIN!!!
caddilac Champion Author Ontario Posts:16,754 Points:2,167,405 Joined:Apr 2007	Message Posted: Feb 20, 2013 2:50:19 PM Ignore caddilac Report Abuse " Speculation in commodities markets is in part to blame for the steady rise in U.S. gasoline prices, a petroleum trade group official said." Something has to be done about the SPECULATORS that manipulate the price of oil and gasoline.
hallows Champion Author St. Louis Posts:4,838 Points:2,832,320 Joined:Jun 2004	Message Posted: Feb 20, 2013 2:49:54 PM Ignore hallows Report Abuse Right on, pulpwood!
DeeLA Champion Author Los Angeles Posts:4,959 Points:1,392,930 Joined:Nov 2008	Message Posted: Feb 20, 2013 2:48:54 PM Ignore DeeLA Report Abuse This is not a new article. It is yesterday's.
pulpwood Champion Author Mississippi Posts:7,379 Points:1,860,855 Joined:Sep 2006	Message Posted: Feb 20, 2013 2:47:34 PM Ignore pulpwood Report Abuse Big oil owns us all and will do as they please.
mustangdaver Champion Author Ontario Posts:2,682 Points:776,970 Joined:Aug 2005	Message Posted: Feb 20, 2013 2:46:54 PM Ignore mustangdaver Report Abuse no kidding
yonasb Champion Author Houston Posts:3,463 Points:758,000 Joined:Apr 2011	Message Posted: Feb 20, 2013 2:46:51 PM Ignore yonasb Report Abuse crazy world
zudo Sophomore Author Phoenix Posts:124 Points:516,680 Joined:Sep 2006	Message Posted: Feb 20, 2013 2:46:17 PM Ignore zudo Report Abuse "A series of refinery outages, a switch to more expensive summer blends of gasoline and higher oil prices are also behind the price increase." But people who see these events are greedy for betting that future gas prices will be higher. Tail wags dog, huh?
250FORD Champion Author Minnesota Posts:8,332 Points:1,305,970 Joined:Feb 2007	Message Posted: Feb 20, 2013 2:45:30 PM Ignore 250FORD Report Abuse Get speculators out of commodities today and energy and food drops like a rock.
juttuniemi Champion Author Tucson Posts:3,261 Points:1,888,680 Joined:Aug 2003	Message Posted: Feb 20, 2013 2:44:19 PM Ignore juttuniemi Report Abuse Speculators again!
NightRider Champion Author Dallas Posts:1,478 Points:83,160 Joined:Apr 2012	Message Posted: Feb 20, 2013 2:42:07 PM Ignore NightRider Report Abuse http://nextnewsnetwork.com/
ramammoth Champion Author Modesto Posts:1,472 Points:295,155 Joined:Mar 2007	Message Posted: Feb 20, 2013 2:40:11 PM Ignore ramammoth Report Abuse How is this President Obama's fault? Americans love their freedom. Freedom doesn't equal cheap gasoline.
AcuraTSX Champion Author Ohio Posts:5,626 Points:2,207,880 Joined:Dec 2005	Message Posted: Feb 20, 2013 2:39:09 PM Ignore AcuraTSX Report Abuse Those "evil" speculators are such an easy target. A switch to more expensive summer blends just not a good target to draw fire.
JoeKR Champion Author New Jersey Posts:9,609 Points:1,761,815 Joined:Feb 2006	Message Posted: Feb 20, 2013 2:38:51 PM Ignore JoeKR Report Abuse "...a switch to more expensive summer blends..." Tell us, UPI, what refineries are blending summer gas is February?
redtruckaz Veteran Author Phoenix Posts:390 Points:131,725 Joined:May 2012	Message Posted: Feb 20, 2013 2:36:43 PM Ignore redtruckaz Report Abuse How's VOTE FOR CHANGE WORKING FOR YOU NOW??????????
paoli8 Champion Author Philadelphia Posts:7,181 Points:1,844,945 Joined:Jul 2007	Message Posted: Feb 20, 2013 2:36:18 PM Ignore paoli8 Report Abuse Like prostitutes, there will always be speculators
indrix All-Star Author Toronto Posts:597 Points:162,815 Joined:Sep 2011	Message Posted: Feb 20, 2013 2:34:19 PM Ignore indrix Report Abuse I wonder how much more consumers can put up with this situation. Hasn't the boiling point reached yet?