Gas Prices

[eytonxav]

These low prices bring back memories of filling up my SS396 Chevelle with Sunoco 260 for something like $0.28 back in 1967.

I wonder how much further the prices will drop? Nevertheless, I suspect the refiners will come up with something to slow down these gas price drops soon.

 

[38Chevy454]

Filled up this morning for $1.949 at Costco. Gotta love 22 gals for $43.

 

[Car-Guy]

Paid 199.9 a gallon tonight as I was passing thru east Texas. I saw prices as low as 198.9 and as high as 245.9 all within about a 90 mile drive

 

[Goonie]

I just checked GasBuddy, and gas is $1.99 at all of the stations in the next town south of us. But I don't have any need to trek over there, since the tanks on both of my vehicles are still full. Even if I did need to fuel up, our local stations are mostly at $2.13 right now.

 

[splitwdw]

Visiting in southeastern Pennsylvania last night and regular gas was 2.579 a gallon.

 

[Texconsin]

Same last night in Katy, Texas

Filled up this morning for $1.949 at Costco. Gotta love 22 gals for $43.

Same last night at the Katy, Texas Costco.

I remember when I filled at a Shell a few years ago. I kept the receipt because gas prices were on the rise and I thought I'd never pay as low as $2.999 again! Yes, $2.999.

(And, to think that people complained about Interstate highway price gouging when I was pumping Standard Oil "REGULAR" for $0.389 in the early 70's...cleaning the windshield and checking the oil, too!)

 

[Chuckanut]

In my area (a high gas tax state) Costco is selling regular for $2.32. The local 76 station is selling it for $2.89. 25% more.

Have we heard from the Leaf and Tesla owners yet?

 

[2B]

Diesel doesn't turn as fast in retail stations so the higher priced stuff stays in the tanks longer. Also, reduced sulfur and the mandated use of biodiesel blending has kept the cost up.

The diesel price partially went up because of an additional refining processing step required to produce the low sulfur diesel (<10 ppm at the refinery). The EPA then wrote the regulation to mimic Europe without listening to the pipeline companies about the cross contamination. Europe has dedicated pipelines for diesel. The US has pipelines that transfer multiple products in the same pipeline. The diesel sulfur specification is so low that a considerable amount is contaminated and has to be reprocessed.

In continuing to punish diesel users, Congress mandated that diesel have a specified amount of biodiesel in it despite no proven technology that existed then or now to produce the amount of material mandated. Never fear! Companies that sell diesel can now purchase an "exemption" to the use of the non-existent biodiesel. This is effectively a tax imposed without direct Congressional approval but it does keep diesel on the market. No diesel would be available if the actual law was truly enforced. I truly tried to write this as non-political but the situation is so unbelievable I doubt it sounds that way.

Right now in Houston, gasoline is approximately $2.05/gallon and diesel is about $3.00/gallon. Diesel used to sell for less than gasoline pre-2007.

 

[Rustic23]

Car Guy I am sure if you had driven just a few miles further you could have beaten that $199.9 a gallon price!

 

[aja8888]

In continuing to punish diesel users, Congress mandated that diesel have a specified amount of biodiesel in it despite no proven technology that existed then or now to produce the amount of material mandated. Never fear! Companies that sell diesel can now purchase an "exemption" to the use of the non-existent biodiesel.

Or they can just put a sticker on the pump.."contains x % biofuel".

Actually, it's too bad that there isn't better control and distribution on biodiesl products since they usually add much needed lubricity to the fuel and save a lot of injection pumps from cratering. Guys like me, who generally work in the oil and gas industry at the field operations level, have seen lubricity additives not make it into the terminal blend. Having a little biodiesel in the fuel is a plus.

BTW, I add my own lubricity additive to my purchased fuel.

 

[Closet_Gamer]

As I drive less than 4 miles days and take the train to work, low gas prices (or high gas prices or any gas prices) are more or less just a curiosity to me.

But if it helps our economy and screws over evil petro-states in the process, I'm all for it.

 

[T-Minus]

$2.53/gal today at my local Chevron station (only use their gas). Other than owning Oil Company stock, I'd love to figure out some sort of hedge to lock in these prices for the next couple years - it was only a few short months ago that I was paying > $4/gal at the same station!

That said, I think there is an element of sticking it to Putin, as well as OPEC trying to kill off our fracking and other self-sufficiency efforts. I guess, what I'm saying, is that I smell complete and total manipulation of the market here...

 

[Koolau]

$3.44 +/- here in Paradise. Down almost a dollar from it's most recent high (roughly year and a half ago IIRC). At some point, even the electric co. (HECO) will have to lower prices as will the shipping companies as all their oil prices have plummeted. Prices here go up very quickly but drop very slowly based on oil prices. Go figure and YMMV.

 

[HFWR]

$1.839 yesterday at Costco


Sent from my iCouch using Early Retirement Forum

 

[Nodak]

Price dropped another dime today to $2.49

 

[powerplay]

$2.19.9 today at Costco in Oregon

 

[38Chevy454]

BTW, I add my own lubricity additive to my purchased fuel.

I also add in some lubricity additive. I use the Wal Mart TC-W3 two stroke oil, about $12/gal and I add approx 1 oz/gal of fuel. I like to think it has beneficial effect for my old mechanical injection pump diesels, and my newer high pressure injection pump diesels.

Back on topic, sure wish the price of diesel was not approx $1.00/gal difference from gasoline The local prices here are right around $0.90-1.10/gal higher for diesel vs regular gasoline. Happy the price has dropped on diesel, just wish EPA would stop screwing with it!

 

[Throwdownmyaceinthehole]

Drove from San Antonio to little rock and back over the past 4 days. Saw gas down to 1.84 near Dallas and we filled up a couple of times at 1.99 along I 35

 

[Ally]

1.84 this week.


Sent from my iPhone using Early Retirement Forum

 

[aja8888]

Diesel @$2.89 at a few Houston stations. Saw RUG @ $1.78 at a Sam's Club.

 

[powerplay]

I would love to see gas below the $2 mark here. Keeping fingers crossed!

 

[gcgang]

Gas prices are just a manipulation of general public for economic reasons. Low gas price help people spend. Gas prices will rise after the new year. Companies are slow to react so diesel prices don't have the same volatility. People will literately sell a fuel sipper for a gas guzzler after a month of low gas prices.

So my predictions are gas prices will rise after the new year and the economy will take a sharp downturn after the next election.

Not so fast, Mike. Demand for gasoline has fallen off a cliff in the past decade. In 2003 demand was never less than 60mm gallons per month. This year it's never been much above 20mm. Bring on that 0.99/99 gas.

U.S. Total Gasoline Retail Sales by Refiners (Thousand Gallons per Day)

 

[unclemick]

$1.839 yesterday at Costco


Sent from my iCouch using Early Retirement Forum

$ 1.87 Costco in Kansas City yesterday.

heh heh heh -

 

[aja8888]

Not so fast, Mike. Demand for gasoline has fallen off a cliff in the past decade. In 2003 demand was never less than 60mm gallons per month. This year it's never been much above 20mm. Bring on that 0.99/99 gas.

U.S. Total Gasoline Retail Sales by Refiners (Thousand Gallons per Day)

This is another reason why it's not cost effective to build any new refineries in this country. Refining capacity was about 17 MM bbl/day last time I checked and we can import refined product to cover the diminishing shortfall. The last few big refinery upgrades in the U.S. were to add capacity for middle distillates (fuel oil, diesel).

 

[Goonie]

$1.99 at the stations in our small town in north central IL, but only $1.85 in the burg 15 miles south of us.