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GasBuddy News Article

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Are speculators really driving up gasoline prices?

Marketwatch -- Have you heard about the great conspiracy behind gasoline prices?

Apparently, it’s the one that’s causing prices to skyrocket at the pumps. Gas is up about 50 cents so far this year, hitting an average of about $3.80 a gallon nationwide.

Of course, somebody must be “to blame.” Turns out it’s the fault of “greedy speculators” who are driving up the price.

Everybody says so. Progressive websites. Conservative-leaning newspapers. Politicians at the state and federal level. Even regulators.

The evidence is that “non-commercial” interests — in other words, financial investors and speculators — now account for most of the trading in oil futures. On some occasions, indeed, they pretty much constitute the entire market. It’s those darn greedy speculators, stealing your money! It’s a


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Submitted Mar 05, 2013 By: WxVette
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REPLIES (newest first) Post a Reply
KAR120CSII
Champion Author Oregon

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Message Posted: Mar 7, 2013 10:08:28 PM

No conspiracy -- just good old American supply and demand. Great to see unbridled capitalism.
honda0105
Champion Author Tallahassee

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Message Posted: Mar 7, 2013 9:04:18 PM

oil and pump prices weren't swinging wildly until specutraitors got free rei(g)n under Dubya.
VaPider
Veteran Author Richmond

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Message Posted: Mar 6, 2013 5:54:06 AM

Anyone blaming congress and their tax greed?
judgemobile
Champion Author Ohio

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Message Posted: Mar 6, 2013 3:56:14 AM

greed lives
jim27106
Champion Author North Carolina

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Message Posted: Mar 6, 2013 2:58:19 AM

The author claims speculators don't take delivery. The folks at http://peakoildebunked.blogspot.com/2008/05/355-banks-hoard-oil-in-storage-tanks.html disagree. I should go to bed and am not going to find more recent sources.

[Edited by: jim27106 at 3/6/2013 5:58:32 AM EST]
jim27106
Champion Author North Carolina

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Message Posted: Mar 6, 2013 2:39:32 AM

That link crashed my IE 7.
StArrow68
Champion Author Oakland

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Message Posted: Mar 6, 2013 1:33:20 AM

Even folks who play in these markets don't really understand how complex the systems are, leading to an inability to really explain it to everyone else. The markets provide a service, too bad some seem to mess with that.
afghaned
Champion Author Ottawa

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Message Posted: Mar 5, 2013 11:39:23 PM

So many people making the same comment!!!
carloco75
Champion Author Richmond

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Message Posted: Mar 5, 2013 10:55:34 PM

Ummm...
wshutton
Champion Author Albuquerque

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Message Posted: Mar 5, 2013 10:33:30 PM

A question for the author: Why have American retail fuel prices increased over $0.50 per gallon in two months?
kgbellman
Champion Author Ann Arbor

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Message Posted: Mar 5, 2013 10:31:52 PM

Hmmm - let me think and I will get back to you
MrLefty0706
Champion Author Chicago

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Message Posted: Mar 5, 2013 10:24:52 PM

We already knew it was speculators. Take oil and gas off the commodity market.
Bill100
Champion Author Grand Rapids

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Message Posted: Mar 5, 2013 10:18:32 PM

Marketwatch:

Having a hard time finding something to write about?
DirtDauber
Champion Author San Antonio

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Message Posted: Mar 5, 2013 10:17:19 PM

This is a pretty inane question.

If this is a news article, then tell us the news, don't ask a question.
Ron77095
Champion Author Houston

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Message Posted: Mar 5, 2013 10:16:00 PM

Really?
arinkrat17
Champion Author Twin Cities

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Message Posted: Mar 5, 2013 10:15:39 PM

Ok
unclenorman
Champion Author Tampa

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Message Posted: Mar 5, 2013 10:15:10 PM

REMOVE OIL/GAS FROM THE COMMODITY MARKETS NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
HA4CNN
Champion Author Toronto

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Message Posted: Mar 5, 2013 10:14:36 PM

What a surprise.
fenster66
Champion Author Pittsburgh

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Message Posted: Mar 5, 2013 10:13:29 PM

all I know is that speculation is alive and well.....
rap12MA
Champion Author Boston

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Message Posted: Mar 5, 2013 10:11:15 PM

Speculators should be monitored and caps should be put in place.They have free rein which results in huge flucuations of prices at the pump.Between them and the refineries,I don't know who is screwing us more.
tml721
Champion Author Columbus

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Message Posted: Mar 5, 2013 10:10:39 PM

NO they don't, Its the stupidity in the house house which causes it.
TBONE3
Champion Author Pennsylvania

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Message Posted: Mar 5, 2013 10:10:22 PM

Any solution to the pricing problem at this time? If so, lets hear it.
pa79th
Champion Author Pennsylvania

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Message Posted: Mar 5, 2013 10:06:01 PM

That's sure to drive the prices up! Haven't seen anything yet that drives them down.
AKmailman
Champion Author Alaska

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Message Posted: Mar 5, 2013 10:05:39 PM

What conspiracy ? It's a fact
Gas Thirsty
Champion Author Los Angeles

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Message Posted: Mar 5, 2013 10:04:00 PM

The speculators are only part of the problem.
gasaholicNC
Champion Author North Carolina

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Message Posted: Mar 5, 2013 10:03:41 PM

There All In for The Money...
streetcars
Champion Author Toledo

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Message Posted: Mar 5, 2013 10:03:31 PM

Take gasoline off the market, they get to gamble with the crude oil as it is.
Wally3023
Champion Author Pennsylvania

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Message Posted: Mar 5, 2013 10:03:03 PM

That's right
annettemendieta
Champion Author San Diego

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Message Posted: Mar 5, 2013 10:00:25 PM

Another reason to raise gas prices.
comprof
Champion Author Houston

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Message Posted: Mar 5, 2013 9:59:54 PM

Speculators are convenient to blame. How about taxes, Politics, world turmoil, supply interruption and/or irregularities?"
Z51Corvette
Champion Author Austin

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Message Posted: Mar 5, 2013 9:58:49 PM

of course they are! Silly question!
The article is a bunch of HOOEY!
obimerrill
Champion Author Cincinnati

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Message Posted: Mar 5, 2013 9:58:33 PM

Absolutely
rippinusoff
Champion Author Lexington

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Message Posted: Mar 5, 2013 9:58:07 PM

yes
DustyHorse
Champion Author Virginia

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Message Posted: Mar 5, 2013 9:54:20 PM

I read both pages of this article and it makes no sense. It is just a lot of hand waving. Yes the speculators and market manipulators are causing an increase in prices. This is a bubble just like the housing bubble and the dot com bubble and it will burst.
jrschl
Champion Author Louisville

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Message Posted: Mar 5, 2013 9:48:53 PM

They are a great influence, but not the only one.
Glock26
Champion Author Dayton

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Message Posted: Mar 5, 2013 9:47:47 PM

No dout about it!!!
tspaldi
Champion Author Provo

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Message Posted: Mar 5, 2013 9:44:43 PM

Just set it so that the speculators must take delivery before they can resale the oil. Then watch the prices drop!
probedude2
Champion Author Akron

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Message Posted: Mar 5, 2013 9:42:11 PM

I thought it was the refineries who were making the money this time
Buddy2264
Champion Author Tampa

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Message Posted: Mar 5, 2013 9:41:11 PM

We questioned the prices and supply and now the prices seem to be going back down.
dougtaylor1
Champion Author Phoenix

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Message Posted: Mar 5, 2013 9:40:13 PM

They are making money at it or they would not be doing it. Them making money ends up costing us at the pump. Who else pays for it. Are there enough fools loosing money at the trading game that they are paying for the winners. I don't think so. We just end up buying from the commodity traders.
LQQKGAS
Champion Author Phoenix

Posts:5,058
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Message Posted: Mar 5, 2013 9:39:34 PM


10K:
It is called Armageddon, in Revelations.
Bigwaynef
Champion Author South Carolina

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Message Posted: Mar 5, 2013 9:39:16 PM

It's Bush's fault, OOhh-bamass says!
JMW1942
Champion Author Michigan

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Message Posted: Mar 5, 2013 9:36:05 PM

Yes to speculators.
jkpsr
Champion Author New Jersey

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Message Posted: Mar 5, 2013 9:34:25 PM

They do not have to take delivery because they sell the option before it comes due. Blame it on cheap money.
grt197
Champion Author Illinois

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Message Posted: Mar 5, 2013 9:33:27 PM

yes
southrob
Champion Author Tucson

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Message Posted: Mar 5, 2013 9:32:47 PM

dhan
Mowerman08
Champion Author Milwaukee

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Message Posted: Mar 5, 2013 9:32:27 PM

The market is up today watch crude go up rapidly.
10k
Champion Author North Carolina

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Message Posted: Mar 5, 2013 9:28:39 PM

big oil, speculators, and pure ol' greed-gimme, gimme..

but one day the house of cards will fall down, go boom !!..
rawdog1313
Champion Author Lexington

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Message Posted: Mar 5, 2013 9:28:21 PM

YES!!!
bikechuck
Champion Author Indianapolis

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Message Posted: Mar 5, 2013 9:25:32 PM

Ok, just the cost of exploration, recovery, refining, and delivery, all the while jumping through hoops of the EPA. So while some will make profits, others will lose. It is what it is.
BobD2009
Champion Author Long Island

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Message Posted: Mar 5, 2013 9:24:39 PM

I blame the government much more than speculators.
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