Gasoline Prices - Whats Yours?

[Skywagon]

$3.22 in S Texas

[John Ranalletta]

45 minutes ago, TEWKS said:

I’m awful with charts but my memory kinda tells me different. 

There are others who dispute the demand destruction theory.  I guess it depends on which church you belong to.  I believe high prices are the best solution to high prices.

 

Traders and speculators drove oil prices to the moon.  Demand for distillates increased dramatically.  People went crazy buying stuff and that stuff requires huge amounts of diesel to move.  Airports are jammed.  Airlines can't handle passenger loads.  Kero gets the planes in the air and powers all the support vehicles.  All of these and more put pressure on prices.

Also, every step of the gas supply chain from wellhead to c-store has been hit with increased operating costs.  Every employee along the line is being paid more.  Materials and supply costs have risen dramatically.  The COL is much higher in some segments than in others.  9% may be the government's #, but I believe it's much higher in isolated markets and products.  Now, also, now all those increased costs have to be spread over fewer gallons.  If a breakfast of two eggs, toast and bacon with coffee was $8 last year and $15 this year, why be suprised oil/gas prices haven't been affected likewise?  

Another factor is refinery mix.  A barrel oil is refined into a myriad of products, gas, kero, hexane, et al.  Some are more profitable than others.  
 

"... crack spreads have now gone into full reverse: according to Refinitv data...The effect: a sharp rise in inventories from the United States and Singapore to Amsterdam-Rotterdam-Antwerp.

Refiners are being forced to cut gasoline output to minimize losses and switch to producing more profitable fuels."  oilprice.com

 

A deep recession might get gas under $3 again.

[John Ranalletta]

Lending some support to the demand destruction crowd. Bank of Bandits..err, America reports drop in gas purchases by cc holders.  These are real numbers, i.e., they didn't come from the government.

Will gas purchases rise with lower prices?  We'll see next month.  Could be folks using gas money to buy food & pay rent.  Could be just cooling it with the homeys.

 

[John Ranalletta]

This just in...definitive word on oil/gas prices.  "They'll up and they'll go down." There, it's settled!

 

[Skywagon]

Paid $2.82 in Galveston yesterday. Still $3.30 in Houston

[John Ranalletta]

1 hour ago, Skywagon said:

Paid $2.82 in Galveston yesterday. Still $3.30 in Houston

Putin

[Joe Frickin' Friday]

Wonder what's going to happen to fuel prices around here in the coming weeks:

 

https://abcnews.go.com/US/wireStory/epa-waives-fuel-rule-states-indiana-refinery-fire-88971440

 

 

[Rougarou]

$3.49 on the sign in this morning locally

[Oldrider51]

$3.90.9 for 91 ethanol free

[MT Wallet]

3 hours ago, Oldrider51 said:

$3.90.9 for 91 ethanol free

It was nearly $6.00 for the same product in Michigan last week. Is there an election coming up where you live? (Sarcasm)

[Rockosmith]

Best gas price in my area this morning.  Remember this price does not reflect the $0.30/gal in suspended state tax and $0.15/gal suspended Fed tax.  Both likely to be reinstated fairly soon.   Still much higher than 20 months ago.

[walton66]

Paid $4.10 for Mobil premium in the Florida Keys this morning. Ill be looking to beat that in Orlando tomorrow. 

[Bernie]

Diesel had a price increase of 30cent in NE FL last week. We did have a election last Tuesday. 

[MachineJoe]

In Akron ..... jumped ~$0.15  overnight

[TEWKS]

Don’t be..

 

like Charlie. 

[TSConver]

Problem is that people will say current pricing is tolerable after seeing it much higher in the spring and early summer.  They are just trying to drop it to improve mid term numbers.

[MT Wallet]

On 8/30/2022 at 8:17 AM, TEWKS said:

Don’t be..

 

like Charlie. 

In my view Charlie represents the general public and Lucy the politicians of your favorite party.

[TEWKS]

I wasn’t let down nearly as much last time. 
 

 

[MT Wallet]

On 8/30/2022 at 6:51 AM, MachineJoe said:

In Akron ..... jumped ~$0.15  overnight

I drove through Ohio last week and found the cheapest gas was around Findley(sp) at about 3.39 and 2 weeks before it was 3.35. I got to Michigan and the price jumped to, depending on location, around $4.00