How much is gas where you live?

[Niehart]

Here in Montana there have been a couple of instances in which gas station owners have forced customers to take gas at gun point!!!!

And in Montana the farmers are buy extra gas and diesel storage tanks.

 

[bigjohnsd]

From Phoenix to Spearfish Monday and Tuesday, best I saw was $1.34 somewhere in Colorado

 

[Bappo]

SE Idaho, $1.85 Lo test real gas (don't use ethanol if I can help it).

 

[TomInPA]

We are at a low of $1.68 at Costco on the west side of Pittsburgh. Taxes are high here, and I often see prices at $1.95 at the smaller more expensive stations. I paid 2.98 for premium ethanol-free in Punxsutawney last weekend. Bike is happy.

 

[graler]

$1.44 in Texas today

 

[G Squared]

Bout the same here in Baton Rouge. Cheapest places in the 1.30's. I just don't use regular gas in anything. Plus grade generally in the 1.60's and premium under 2.00.

 

[DeSudet]

1.499 this evening when I topped off the cage. Lowest I've seen in a long time.

 

[hppants]

I have to admit that I never thought I would ever see sub- $2.00 gasoline in American again. EVER.

I've been following the price of oil (almost daily) for decades. In my opinion, there seems to be little correlation between the price of a barrel of crude oil and the price of a retail gallon of gasoline. There are so many "reasons" (excuses) for the two not to correlate that any self-respecting scientists doing the research would simply throw the entire **** out of the window and start over. Supply and demand, seasonal refinery maintenance, hurricanes, tension in the middle east, taxes and fees, an industrial accident, the CEO of Fairy Dust, LLc cuts a large fart and ***** his pants..... you name it and the price of gas changes.

The rate at which retail gasoline falls is exponentially more slowly than the rate at which it rises, REGARDLESS of any other economic factor or external condition. That simply defies the basic laws of supply and demand.

If you look at two world-renowned commodity indexes, and compare even remotely linearly the Oil/Gasoline ratio 12 months ago to the same ratio today, we should be paying about $0.90 a gallon. Yet we are paying about $1.40 in south Louisiana. Fixed cost such as taxes and fees, which were proportionally less (compared to the total price) a year ago than today should make that comparison even greater.

Hmmmm?

My local and State world revolves around oil prices. Many of my friends are worried for their jobs. I know I need to play ball. But in the midst of a "crisis", when Exxon/Mobil post a $3 billion 2015 4th quarter profit, and an $11 Billion 2015 year profit (that's BILLION, a THOUSAND MILLIONS), me smells a real stinky rat.

Any more and I fear I will get a forum vacation, so I'll end my rant here.

 

[Cav47]

Amen!

What you said makes it kinda tough for me to accurately explain supply and demand to my 8th Graders. Part of the curriculum I teach for US history involves economics and my kids know how S and D is supposed to work. Kids around here equivocate their financial lives in McDonald's food purchasing power. Currency to them is McChickens and McDoubles. So when McDonald's messes with the Dollar Menu, Pick 2 or Sweet Teas, my kids notice and we talk about why they raised the prices. A few of our smart kids made the connection between lifting the trade embargo with Iran and lower gas prices. Consequently they EXPECT lower McChickens from MCDs. When that has not happened, they feel that I lied about Economics 101. So now I have to explain corporate greed, price fixing, and industrial monopolies to get myself out of the doghouse with my 8th graders. I love my job and trying to shape the mind of the future leaders.

 

[900gc]

Paid $1.69 yesterday in NE Mass. Was out in LA last week and the best price I saw was $2.67! After seeing all the high taxes and fees on freaking EVERYTHING out there (even compared to taxachussetts) I would NEVER live there!

 

[Big Sky]

I have to admit that I never thought I would ever see sub- $2.00 gasoline in American again. EVER.
I've been following the price of oil (almost daily) for decades. In my opinion, there seems to be little correlation between the price of a barrel of crude oil and the price of a retail gallon of gasoline. There are so many "reasons" (excuses) for the two not to correlate that any self-respecting scientists doing the research would simply throw the entire **** out of the window and start over. Supply and demand, seasonal refinery maintenance, hurricanes, tension in the middle east, taxes and fees, an industrial accident, the CEO of Fairy Dust, LLc cuts a large fart and ***** his pants..... you name it and the price of gas changes.

The rate at which retail gasoline falls is exponentially more slowly than the rate at which it rises, REGARDLESS of any other economic factor or external condition. That simply defies the basic laws of supply and demand.

If you look at two world-renowned commodity indexes, and compare even remotely linearly the Oil/Gasoline ratio 12 months ago to the same ratio today, we should be paying about $0.90 a gallon. Yet we are paying about $1.40 in south Louisiana. Fixed cost such as taxes and fees, which were proportionally less (compared to the total price) a year ago than today should make that comparison even greater.

Hmmmm?

My local and State world revolves around oil prices. Many of my friends are worried for their jobs. I know I need to play ball. But in the midst of a "crisis", when Exxon/Mobil post a $3 billion 2015 4th quarter profit, and an $11 Billion 2015 year profit (that's BILLION, a THOUSAND MILLIONS), me smells a real stinky rat.

Any more and I fear I will get a forum vacation, so I'll end my rant here.

Pants, as always you make good points. But I would pose this question to you: if the price of crude fell to $0.00 - free - what would the price of gasoline be? Right, the sum of taxes, refining, shipping, dispensing, other overhead and a profit margin. The cost of crude is only one component in the price of gasoline.

And yes, another principle of economics is that "prices are sticky downward" - they fall slower than they rise. This is businesses heading. Naturally they are reluctant to lower a price they have spent years raising, justifying and charging. Prices will go up like a rocket and fall like a feather. In either case, radical supply/demand/price fluctuations offer opportunities for someone to pad their margins. Here I think it is refiners and retailers.

Another valid point you make: Monopoly, or more accurately "oligopoly," in the oil industry indicates that a just a few large firms in the market can exert influence on supply and price; good for the companies, bad for consumers. Here in Montana we have one very large retail firm (Town Pump) that is so much larger than its competition that it is able to effectively set the retail price. When this firm changes its price, everyone else does too, but only to match it, never higher or lower. There is no true price competition in retail gasoline in Montana. You never see varying prices in any town, though the price may vary somewhat town-to-town. This is effectively price fixing though for sure the various company principals never sit down and discuss what the price will be; that would be highly illegal.

Don't get me wrong. I do not defend the forces outside pure market economics that influence the retail gasoline price. But they are real.

At this point the only thing at that could cause crude prices to recover rapidly, in my opinion, is an all-out Middle East war. Syria could be the catalyst. Plenty of companies (and national economies, i.e. Saudi Arabia) would reap huge new profits in that case. Is there now enough incentive?

BTW, today it is $1.67 here in Butte, America, down 5¢ from Wednesday. I saw $2.54 in Idaho City Wednesday and $2.01 in Boise, $1.87 in Mountain Home, ID. Why?

 

[HotRodZilla]

Gas in Albuquerque is $1.459/gallon, +/-. I wouldn't get too comfortable with this pricing. I think, sooner than later, it's going to blow through the roof, and we're going to miss the days of $4.50/gallon...

 

[wheatonFJR]

Gas in Albuquerque is $1.459/gallon, +/-. I wouldn't get too comfortable with this pricing. I think, sooner than later, it's going to blow through the roof, and we're going to miss the days of $4.50/gallon...

...and wonder when those damn zombies will stop!

 

[RichDoyle]

Around here (central Oregon) it's running a bit under $2.00/gal for regular. Maybe $1.89 here and there. There's a station nearby that charges an additional $0.95/gal for ethanol-free. But it's kind of an 80's-era place without pump-resident credit-card swipe, so you have the schlepp into the store and get in line behind the purchasers of slim-jims, slurpees, chips, and beer to pay the tab.

Anyway, I don't sweat ethanol-free. I have not had a fuel-system problem since years before ethanol started to get added to gasoline. But I do stick to name-brand stations, these days - Shell, Chevron, etc.

The price decline has also affected aircraft fuel (100 LL). I'm currently paying $4.20 per gallon at my home field and generally it's running $4.50 or less in the area. This compared to ~$6.00 a year or so ago at my former home airport: Paine Field. Keep in mind this is an extremely low-volume boutique fuel (<1% of auto gas volume) with high distribution and storage costs.

 

[Bounce]

I can't tell you how much it is because I've not filled up in about a month. I do need to do so sometime this week. I can tell you it's gone down too much because my royalty check was 1/3rd what it usually is.

I learned a few weeks back that the reason is because OPEC has opened the taps full in an attempt to crush production anywhere else in the world. It's working. The oil fields in NW OK and similar places are laying off 50% or more of their crews because they can't afford to keep them on at these reduced prices. Heart breaking for them and their families.

 

[Abercrombie FJR]

$1.25 to $1.29 this morning in Fargo. The low fuel light was lit on my old GMC work truck and it cost damn near $25.00 to fill her up. I think I will just leave it run till spring so I don't have to wait for it to warm up in the morning. Lol

 

[HotRodZilla]

Haha...I filled up my truck from low fuel light to full yeaterday. $32. WooHoo...I probably need to go buy 20,000 55 gallon drums and 3000 cases of fuel stabilizer. Fill those ******* up while fillin' is cheap!!

 

[El Toro Joe]

I probably need to go buy 20,000 55 gallon drums and 3000 cases of fuel stabilizer. Fill those ******* up while fillin' is cheap!!

So you're that guy huh...Glad I'm not yer neighbor...JSNS.

 

[SacramentoMike]

I just filled up, and while it's still nice and low compared to anything since about the 1980's, it's started to move in the wrong direction already. Up about a nickle since the last fill up, same station.

AJ's right about the direction, but I sure hope your numbers are way off, pal. I've still got to afford a trip to NAFO in a few months.

 

[bigjohnsd]

$1.33 Pierre SD today