Local gasoline prices

[Crosley.In.AZ]

Same station is at 3.60 a gallon for diesel this morning.

I paid 3.40 a gallon the other evening near my house

The station I watch is at 3.70  a gallon for diesel this morning.

I paid 3.50 a gallon last night for diesel.

Sorry, I do not understand the lack of complaints in the news media.

[kb426]

I paid 3.09 in Wichita today. That's a dime cheaper than my town.

[Uncle Bob]

Sorry, I do not understand the lack of complaints in the news media.

I was waiting to see if George would give you the answer, but apparently he's layin' in the weeds.

It's simple Tony, the media folk voted for the current guy in WH unlike the last time, so they're not stirin' the misinformation pot....

[Mikej]

When I first started this post sweet crude ( North American oil) was $92 a barrel. Then it dropped to $85. Then the Egypt thing. $92 Then back to $85. Now it is $89. The news media only reports on the rise. What the ---- is wrong with this picture. North sea brent was over $102 per barrel. This is what the news media uses in their reports. From what I have read, the price between the two was usually within $1. I just wish the media do their job and report the facts. Then ask the right questions.
 If I had someone buying oil for me and they bought it on a rumor about Egypt, I would, have fired them.

Refinery slow down for cleaning. This is just a thought. Shouldn't we have refineries through out the country just for our national security. Or should we be like Pearl Harbor where we have all our ships in a row. One more point on this. When I was in Germany, I was in an Armor Battalion. There were 3 on post. 150 tanks. 3 tank parks all within a 3 block area. 100 tanks fully loaded at all times. Lined up in nice even rows. 10 feet apart. You get the picture. East German boarder only 50 miles away. How long do you think a jet could travel that distance? We practice getting off the post. It took hours. Ammo dump was right next to the tank parks.

Some times I wonder if we learn anything. I know this seems a little off topic but it does all pertain to our oil problems. We need to get busy addressing the real problems.
Gas prices here have been steady at 309.9 through all of this. 292.9 or so in Council bluffs.

[Carnut]

Sorry I didn't comment earlier, I try to keep my political posts on Facebook.

[Mikej]

Sorry I didn't comment earlier, I try to keep my political posts on Facebook.

You are probably right. This will be my last post on this. The cost of gas has no effect on our hobby. If you just want to look at cars as just art. I prefer to drive mine.

[Crosley.In.AZ]

I am not so sure it is politics as much as the people in the market trading.  I guess they both play off each other or perhaps "used"  is a better term

You folks all hear the same excuses as I do...  when a situation happens some where in the world, fuel prices rise quickly..... yet the prices drop slowly.

We are told that the more expensive crude must run through the system and the prices will drop. Of course the question of WHY the price increase is immediate when the expensive crude is not yet in the pipe line is never answered

 

[enjenjo]

Of course the question of WHY the price increase is immediate when the expensive crude is not yet in the pipe line is never answered

Easy question to answer. Gasoline is sold at the replacement price, not at the purchase price. Contrary to what many people think, retailers do not make much if anything on gasoline sales. The gasoline is there to get you into the store, and buy something that is profitable. The profit on a single bag of chips is more that a tank full of gasoline. So to make money, you sell the gasoline at what it costs to replace it. Most retailers would be happy to make a nickle a gallon, the reality is, in most cases it is between 2 and 3 cents a gallon.

The other part of this, it is much easier for the refiners to raise gasoline prices than it is to raise the prices on other things that are made of crude oil. Depending on the type of crude oil used, from 25 to 45 percent can be made into gasoline, or diesel. The industry average is about 38 percent. All the other feedstocks are used by industry, and are bought in very large quantities, months, and even years in advance. The margins on the other feedstocks is very tight, and can not be easily changed mid contract. So, if the price of crude goes up, gasoline sees a disproportionate part of the price increase, because that price is not set so far in advance. In effect, we are subsidizing industry with our gas prices. But this also keeps durable goods costs lower, so we do benefit in the long run.

[phat46]

Of course the question of WHY the price increase is immediate when the expensive crude is not yet in the pipe line is never answered

Easy question to answer. Gasoline is sold at the replacement price, not at the purchase price. Contrary to what many people think, retailers do not make much if anything on gasoline sales. The gasoline is there to get you into the store, and buy something that is profitable. The profit on a single bag of chips is more that a tank full of gasoline. So to make money, you sell the gasoline at what it costs to replace it. Most retailers would be happy to make a nickle a gallon, the reality is, in most cases it is between 2 and 3 cents a gallon.

The other part of this, it is much easier for the refiners to raise gasoline prices than it is to raise the prices on other things that are made of crude oil. Depending on the type of crude oil used, from 25 to 45 percent can be made into gasoline, or diesel. The industry average is about 38 percent. All the other feedstocks are used by industry, and are bought in very large quantities, months, and even years in advance. The margins on the other feedstocks is very tight, and can not be easily changed mid contract. So, if the price of crude goes up, gasoline sees a disproportionate part of the price increase, because that price is not set so far in advance. In effect, we are subsidizing industry with our gas prices. But this also keeps durable goods costs lower, so we do benefit in the long run.

We have a couple stations here that are just gas stations, you can buy a pack of smokes or a candy bar in them but not much more. There's barely enough room inside for two people. I always wonder how they stay open on gas sales alone and they are usually the lowest priced stations and are among the first to drop prices.

[parklane]

What really burns my butt is the fact that we have our own crude, that we process as well as sell to the US, and just figured out that today in London, ON the price is $4.35/US gal, and it's $1.00 less in MI 60 miles away.

[Carnut]

Filled up my PT Cruiser today at 3.019 gal.

[UGLY OLDS]

I just filled up the little bus at $3.249..... :evil:  

This is getting OLD  :!:


Bob... :cry:

[rooster]

St. Louis

11/25/10.....       2.52 a gal yesterday
11/29 ......          2.79 a gal today
12/9  .......           2.89 a gal
2/21/11 .......        3.09.9  

12/9.......     anti-freeze advanced auto 50/50 mix 9.99 a gal. (house brand)
2/21/11........" 12.00  anti-freeze the straight stuff
Assume the position!!!!!!!!!!!!! :evil:

[jaybee]

Look out!  One of our fuel market contacts called us today and urged us to have all our trucks fuel before midnight TONIGHT.  He said diesel will spike .08/gal overnight, and additional .10+ on Friday.

[phat46]

Jumped to $3.379 today. I heard speculation that oil might go over $200 a barrel this summer.....  :cry: