Paying More For Less At The Pump

The Skinny: How Paying For A Gallon Of Gas May Get You Less Than A Gallon

(CBS)  The Skinny is Joel Roberts' take on the top news of the day and the best of the Internet.

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Rising gas prices aren’t the only way you're getting pinched at the pump. The Los Angeles Times reports that warmer spring and summer weather means you're actually getting less fuel for your gas dollar.

The reason? Fuel expands as temperatures increase. And since the nozzles at your local gas station don't adjust for the change, the gallon of gas you pay full price for may really be less than a full gallon.

The shortfall could cost motorists as much as 3 cents a gallon. That may not sound like a lot, but in California, where the average gas price reached a state record of $3.489 a gallon this week, and where drivers use 16 billion gallons of gas a year, the Times says the heated fuel could cost them as much as $480 million annually.

The Times says the overcharge "is rampant, legal and hard for consumers to spot," but it's not a secret. "Oil companies acknowledge it and regulators allow it."

Consumer advocates and some lawmakers are calling on gas retailers to install nozzles that compensate for changing temperatures. But oil companies and dealers say the cost of the new equipment would only push prices higher.

Meanwhile, motorists, especially truck drivers, continue to pay the price. "It's a real big deal because it comes out of our pockets," said trucker Freddy Chulo, who says he spends $60,000 a year on diesel.


Insider Trading Charges At Dow Jones

The Wall Street Journal reports Wednesday on allegations of insider trading involving shares of the newspaper's parent company, Dow Jones & Co.

In a front-page story, the Journal says that two weeks before Rupert Murdoch's News Corp. made a $5 billion takeover bid for Dow Jones, "a well-connected Hong Kong couple borrowed millions of dollars to buy $15 million of the newspaper publisher's stock."

After Murdoch's offer became public, Dow Jones stock jumped 50 percent, and the couple sold their stock for an $8.2 million profit.

On Tuesday, the SEC sued the couple, Kan King Wong and his wife, Charlotte Ka On Wong Leung, for insider trading.

The Journal said it's not clear how the Wongs might have known about the pending offer for Dow Jones, but said one "possible connection" the SEC is likely to investigate involves a Hong Kong banking executive and Dow Jones director named David Li.

The Journal said Li has a "history of business and social dealings" with Ms. Wong's father. Reached in Hong Kong, Li said he didn't disclose information about Dow Jones to anyone, "not even my wife."


Northern Ireland Makes History, But Not Front Pages

A landmark event in Northern Ireland was mostly absent from the front pages of America's top newspapers Wednesday.

The Los Angeles Times was alone among the major dailies in running a page-one story on the swearing-in of a power-sharing government in the long-troubled British province.

The Times called it the beginning of a "new era" for Northern Ireland, following three decades of strife between Protestants and Catholics, but the news was relegated to the inside of the other papers. The New York Times featured a photo from the swearing-in ceremony on the bottom of its front page, but its story ran on page A8.

The Washington Post's Northern Ireland story ran on page 10A, while USA Today's was on page 7A.


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[pepperwood2]

If we use our intelligence, it doesn't take a rocket scientist to realize that since the Global Warming Mentality has hit the airways. 40+ years or more! The Media, Washington, TV Networks, Oil Companies, Hollywood Crowd,etc. have all gotten there heads together to come up with ways to raise Gasoline & other fuels to force the Average Person to use less.

First of all the press, instead of investigating the high prices, as it once did, has collaborated with the Oil Companies. They now do stories on why the prices should rise.

After posting the story, the Oil Companies can now raise prices. No checks & balances needed. Whether the refineries are only operating 99.9%, raising price of rice in China, rising of human population, higher than normal hurricane season predicted.

The Global Warming Crowd is at the back of it. One way or another the goal is to get you the Consumer to use less. While the GW Crowd can continual to live the kind of life style they're accustomed to.

Use your own intelligence an check it out. We haven't seen nothing yet. There will be NO provisions made to the GAS PUMPS unless it is to serve to raise the prices. Less is better in order to SAVE the PLANET????

You can also expect to get more BALONEY from all the Leading Actors in this Sequel for your hard earned money.

[pepperwood2]

If we use our intelligence, it doesn't take us long to realize that since the Global Warming Mentality has hit the air waves. The Media, Washington, TV Networks, Oil Companies, Hollywood Crowd, etc. have all gotten on board to come up with ways to raise the price of Gasoline & other fuels for the US Consumer to force you to use less.

First of all the press, instead of investigating the high prices, as it once did. Has collaborated with the Oil Companies by letting the people know when the prices should rise.

After posting the story, the Oil Companies can now raise prices, no checks & balances. Whether the refineries are only operating 99.9% or the rising price of rice in China. Rising of human population, etc.

Global Warming Crowd is at the back of it. One way or another the goal is to get you the Consumer to use less even if there's no logic to it.

That can be done in a number of ways. Manufacturing the high prices of fuel so the average person has to reduce useage. Is only one way. Nevermind that the GWC has the cash to live the kind of life in a matter that they're well accustomed to.

We haven't seen nothing yet? There will be NO provisions to the GAS PUMPS to give you the gasoline you're paying for. Less is better in order to Save the Planet. You can expect to get more BALONEY from all the Leading Actors in this Sequel for your hard earned money.

[pepperwood2]

If we use our intelligence, it doesn't take us long to realize that since the Global Warming Mentality has hit the air waves. The Media, Washington, TV Networks, Oil Companies, Hollywood Crowd, etc. have all gotten on board to come up with ways to raise the price of Gasoline & other fuels for the US Consumer to force you to use less.

First of all the press, instead of investigating the high prices, as it once did. Has collaborated with the Oil Companies by letting the people know when the prices should rise.

After posting the story, the Oil Companies can now raise prices, no checks & balances. Whether the refineries are only operating 99.9% or the rising price of rice in China. Rising of human population, etc.

Global Warming Crowd is at the back of it. One way or another the goal is to get you the Consumer to use less even if there's no logic to it.

That can be done in a number of ways. Manufacturing the high prices of fuel so the average person has to reduce useage. Is only one way. Nevermind that the GWC has the cash to live the kind of life in a matter that they're well accustomed to.

We haven't seen nothing yet? There will be NO provisions to the GAS PUMPS to give you the gasoline you're paying for. Less is better in order to Save the Planet. You can expect to get more BALONEY from all the Leading Actors in this Sequel for your hard earned money.

[rf35]

ggf1938,
Go to high school since 5th grade didn't seem to work out that well for you.

[rf35]

1. Underground gas tanks are not deep enough to maintain a constant temperature year-round. There is some insulation, but not that much.
2. Gasoline is a light liquid which expands more, faster, and at a lower temperature than solid car fuel tanks and pump materials.

[gramto7]

I am glad to see that there are people in America that are not taken in by the idiocy of this article. The underground tanks that store fossil fuels at gas stations are done that on purpose to keep the fuel at a fairly constant temperature, as stated by a prior blogger. I have worked with these tanks often enough as a convenience store manager to know what they are, and how they work. Thankfully I didn't have to do that job for all of my working life...:-)

[judiann22]

Yes the solution to high gas prices is to not buy it for 4 days.If all the americans who need to go to work to pay their morgage and feed their family called in sick together like the french do all the business would close all the chinese products would be left on the ships all the oil company stocks would crash and the law of supply an demend would kick in and the price would go down. the other big gas hog is that 60 cent per gallon gas tax our loving government is collecting. a 60 day moritorium on the gas tax would be a big beneifit to the middle class working stiffs who pay it. the other comodity our free enterprise system where anybody who works hard can make it in america is the elimination totally of the independant producers It used to be if you had a still you could run of enough poteen to feed your family from your half acre of indian corn.Who pays for the gas to run up and down the bagdad road to see if there are any IUDs today?
this is part one part two is above it jd

[juliemd]

I will just never forget George Bush telling us in one of the debates before he was first elected that "if you want gas prices to go up, vote for Al Gore...".

Never, never forget...forgive, who cares.

MAY 15 is DON'T buy GASOLINE day...just don't buy gasoline on MAY 15th...

[hungry1968]

katie and co

if you think gas prices are too high.... don't buy it then!!! it's simple economics. i know that economic principles are not taught in the school of liberalism, but, this is a very simple lesson.
Posted by smithncustom at 03:08 PM : May 09, 2007

Easily one of the dumbest comments I've ever seen on these boards. "smithncustom" must be George Bush's login name. NO ONE with a brain could possibly be this stupid.

[ggf1938]

DUH! You can see from all of these goofy comments how Americans are mislead. I have no love for the oil companies. Your journalist who obviously took blow off courses to get his degree should have checked with a FIFTH GRADER who might have explained that the gasoline is stored underground, year round, at a constant temperature. Therefore it is the same density/volume year round. If you leave a container of gasoline outside exposed to high temperatures (100-110F) you might see a slight increase in cubic volume compared to a container left in a refrigerator.

[ggf1938]

You can see from all of these goofy comments how Americans are mislead. I have no love for the oil companies. Your journalist who obviously took blow off courses to get his degree should have checked with a FIFTH GRADER who might have explained that the gasoline is stored underground, year round, at a constant temperature. Therefore it is the same density/volume year round. If you leave a container of gasoline outside exposed to high temperatures (100-110F) you might see a slight increase in cubic volume compared to a container left in a refrigerator.

[ggf1938]

You can see from all of these goofy comments how Americans are mislead. I have no love for the oil companies. Your journalist who obviously took blow off courses to get his degree should have checked with a FIFTH GRADER who might have explained that the gasoline is stored underground, year round, at a constant temperature. Therefore it is the same density/volume year round. If you leave a container of gasoline outside exposed to high temperatures (100-110F) you might see a slight increase in cubic volume compared to a container left in a refrigerator. No wonder their is so much confusion about Global Warming, etc. since journalists like this are experts at using flawed facts to jack up the public.

[ggf1938]

You can see from all of these goofy comments how Americans are mislead. I have no love for the oil companies. Your journalist who obviously took blow off courses to get his degree should have checked with a FIFTH GRADER who might have explained that the gasoline is stored underground, year round, at a constant temperature. Therefore it is the same density/volume year round. If you leave a container of gasoline outside exposed to high temperatures (100-110F) you might see a slight increase in cubic volume compared to a container left in a refrigerator. No wonder their is so much confusion about Global Warming, etc. since journalists like this are experts at using flawed facts to jack up the public.

[ggf1938]

You can see from all of these goofy comments how Americans are mislead. I have no love for the oil companies. Your journalist who obviously took blow off courses to get his degree should have checked with a FIFTH GRADER who might have explained that the gasoline is stored underground, year round, at a constant temperature. Therefore it is the same density/volume year round. If you leave a container of gasoline outside exposed to high temperatures (100-110F) you might see a slight increase in cubic volume compared to a container left in a refrigerator. No wonder their is so much confusion about Global Warming, etc. since journalists like this are experts at using flawed facts to jack up the public.

[ggf1938]

You can see from all of these goofy comments how Americans are mislead. I have no love for the oil companies. Your journalist who obviously took blow off courses to get his degree should have checked with a FIFTH GRADER who might have explained that the gasoline is stored underground, year round, at a constant temperature. Therefore it is the same density/volume year round. If you leave a container of gasoline outside exposed to high temperatures (100-110F) you might see a slight increase in cubic volume compared to a container left in a refrigerator. No wonder their is so much confusion about Global Warming, etc. since journalists like this are experts at using flawed facts to jack up the public.

[smithncustom]

katie and co

if you think gas prices are too high.... don't buy it then!!! it's simple economics. i know that economic principles are not taught in the school of liberalism, but, this is a very simple lesson.

[gunnerv1]

raccettura, are you going to clean up all of the "Road Apples" that are dropped by the "hay burners"?

[raccettura]

That's totally not cool.

[mudlogger]

I just love the fact that people are so eager to jump on the oil companies, but let's examine all the facts not just half of them.

Not only does the gas/diesel expand in the heat, but so does the nozzle and "oops" the metal tank it's pumped into. Follow that with the fact that the gas/diesel continues to expand as it heats up during the day "after it's pumped" then everything "shrinks" as it cools off at night.

For another bogus thought, "if you fill you tank at night you will actually get less gas than if you fill it during the daytime when it's hot".

If you work strictly on volume then the gas tank and filler neck will have to be self adjusting also. I find such blatantly misleading articles, yes I actually read the LA Times article, to be more of the "bogus science" put forth in the world today. I also find the news media that's so quick to jump on it without doing all the research just as irritating.

[ggf1938]

You can see from all of these goofy comments how Americans are mislead. I have no love for the oil companies. Your journalist who obviously took blow off courses to get his degree should have checked with a FIFTH GRADER who might have explained that the gasoline is stored underground, year round, at a constant temperature. Therefore it is the same density/volume year round. If you leave a container of gasoline outside exposed to high temperatures (100-110F) you might see a slight increase in cubic volume compared to a container left in a refrigerator. No wonder their is so much confusion about Global Warming, etc. since journalists like this are experts at using flawed facts to jack up the public. Lets see what kind of response follow my comments