Gas prices are going up fast

[Car-Guy]

No driving changes for me even though when I filled up (sort of) the truck the other day, it cost me $100. The truck has a 33 gallon tank and takes premium. The pump cut off when it hit $100... I had heard that some gas credit cards would only allow you to pump $100 at a time but never experienced it "personally"... When I drove away I noticed the gas gauge only showed about 3/4 full .I guess I could have ran the card through again but that was enough gas for another ~250 miles.

 

[arbeadub]

I might be a bottom feeder. I don't hope for people to dump their gas guzzlers but I remember the '80s when out of favor vehicles were hard to sell, I would be in the market for a smaller RV, maybe my time will come if this shortage continues and the nukes don't fly.

 

[Chuckanut]

Not surprised, I've seen the crap their troll farms post on social media.

Interesting enough the organization that produces that fertilizer is called the IRA. (Internet Research Agency, located in St. Petersburg.) Regardless of what one thinks of the previous President, all Americans should read what Mueller discovered about the IRA. (Section II- A) Scary stuff.


The acronym fits right in with this group of LBYM, penny pinching, IRA loving radicals.

 

[jollystomper]

Even if you don't use much gas, these higher gas prices feed into more inflation for so many other things, which is already soaring.

Very true. For example, our trash pickup raised their price slightly and also has added a "fuel surcharge" to our quarterly bill. No enough to be a problem for us (additional cost will be about $25 for the year), but other service companies will likely be doing the same.

I purchased gas this evening at Costco. Huge line, but it moved fast. last week I filled up our sedan there and it was $3.46/gallon. Today I filled up the SUV, it was $3.80/gallon. They are the only station in the area with gas under $4, and several that are close to highway exits are already at $4.39.

 

[Telly]

I'm not particularly concerned. A lot of the stories in the media I have seen on the topic are the same old same old. A lot of the "detail" is left out, maybe a total unknown to the creator's of the piece. Like the inflation over time is not taken into account, the concept that gasoline prices were severely depressed not long ago(!) due to a world-wide pandemic, state gas tax varies by state (cue those California self-serve prices!) etc.

All of the "talking with people getting gas at the gas station" TV news pieces, I pay attention to what the person is driving. Haven't seen a Toyota Corolla, Prius, etc. yet. Yeah, I realize they are looking for impact and may s-can some of the clips till they find one suitable.

If you drive a truck as a daily driver, it's gonna cost. Same way back in 1980 or so, but few drove trucks then. My usual vehicle IS a truck, gas mileage is poor, but I don't drive every day, and not far. If we go somewhere hours away, we take a 4 cylinder car.

Don't know how it is in other states, but here in TX, the primary mode of transportation has become the 4-door full-size crew-cab truck with a short bed (less than 6 feet). They are used like cars were. The beds are empty, or covered so you can't see that they're empty. I suspect that the auto makers we used to call "the big 3" would be out of business real fast if these trucks suddenly fell out of favor (hey, I don't have to be a genius to come up with that ). The phrase "you have to pay to play" comes to mind.

Off topic... remember the Toyota Starlet? The Subaru Justy? The Chevette? on that last one.

 

[Amethyst]

High gas prices are going to make home delivery more expensive, as well.

And that cost increase won't come back down, even if gas prices eventually do.

Higher gas prices are making home delivery more attractive.

 

[Masquernom]

Higher oil prices have traditionally presaged a US recession. So if you're running the Fed, do you still raise interest rates?

 

[conversationalphrase]

https://www.aogr.com/web-exclusives/exclusive-story/u.s.-holds-most-recoverable-oil-reserves

"The United States now holds the world’s largest recoverable oil reserve base–more than Saudi Arabia or Russia–thanks to the development of unconventional resource plays.

Ranking nations by the most likely estimate for existing fields, discoveries and as-of-yet undiscovered fields (proved, probable. possible and undiscovered), the United States is at the top of the list with 264 billion barrels of recoverable oil reserves, followed by Russia with 256 billion, Saudi Arabia with 212 billion, Canada with 167 billion, Iran with 143 billion, and Brazil with 120 billion (Table 1)."

Let's pump/recover/use our own oil as we transition to renewables (however long that takes).

+10,000!



Personally, I've reacted to higher gas prices by just driving slower. Not unsafely slow, but slower than I previously drove. Five under the speed limit in the slow lane instead of five over in the fast lane. If no one is behind me on a two lane country road I drive 10 under, if someone comes up I increase to the speed limit. It helps. Also we own a small economy car and a pickup truck. We drive the economy car whenever it isn't impractical.

If the gov't were seriously interested in reducing oil consumption they would lower the speed limit. Remember the 55 mph national speed limit in the late 70's and early 80's? No I'm not advocating this, just pointing out the hypocrisy of our leaders.

 

[jim584672]

I remember the 1970s when everyone sold their big cars for dirt cheap. I wonder at what point we see that happen again.

 

[Venturer]

My DW just came into my office and said "Do you think we should cancel our wild west trip"? She has been checking her Fidelity balance every day and is scared. I told her that we would wait until May and decide then. We have all our campgrounds reserved, and if we cancel at least 48 to 72 hours ahead we don't get charged on our cards. I figure that the 7-8 mpg the truck gets pulling the camper if gas goes up more than it is now by $2.00 per gallon it will cost us $8k more to go just for gas. If so we may cancel and wait to see what happens. We have just waited so long for this to happen for us that I really want to do it. My birthday this year is one of the zero years which my DGD told me Friday when we picked her up from school. All the zero year birthdays are big ones Papa ! LOL Any way I hope things settle down early rather than later. And yes I do know I'm blessed to be able to even think about doing a trip like this---1st world problem for most of us here.

 

[Pellice]

It's a hit that I'm willing to take in this current Ukraine emergency, and in the longer run climate crisis. I will adapt.

 

[Montecfo]

https://www.aogr.com/web-exclusives/exclusive-story/u.s.-holds-most-recoverable-oil-reserves

"The United States now holds the world’s largest recoverable oil reserve base–more than Saudi Arabia or Russia–thanks to the development of unconventional resource plays.

Ranking nations by the most likely estimate for existing fields, discoveries and as-of-yet undiscovered fields (proved, probable. possible and undiscovered), the United States is at the top of the list with 264 billion barrels of recoverable oil reserves, followed by Russia with 256 billion, Saudi Arabia with 212 billion, Canada with 167 billion, Iran with 143 billion, and Brazil with 120 billion (Table 1)."

Let's pump/recover/use our own oil as we transition to renewables (however long that takes).

Yes. The value of being energy independent again has seldom been more clear.

 

[street]

Till fuel prices are in a stable mode it will be somewhat scary. In this case of supply and demand I don't believe there is a shortage but different paths could result in controling the price.

Thank God we are just leaving the heating season for the year. That was as highest gas price I have paid in 40 years to heat my home.

 

[aja8888]

My DW just came into my office and said "Do you think we should cancel our wild west trip"? She has been checking her Fidelity balance every day and is scared. I told her that we would wait until May and decide then. We have all our campgrounds reserved, and if we cancel at least 48 to 72 hours ahead we don't get charged on our cards. I figure that the 7-8 mpg the truck gets pulling the camper if gas goes up more than it is now by $2.00 per gallon it will cost us $8k more to go just for gas. If so we may cancel and wait to see what happens. We have just waited so long for this to happen for us that I really want to do it. My birthday this year is one of the zero years which my DGD told me Friday when we picked her up from school. All the zero year birthdays are big ones Papa ! LOL Any way I hope things settle down early rather than later. And yes I do know I'm blessed to be able to even think about doing a trip like this---1st world problem for most of us here.

Take the trip. We are in our late 70's and no more trips like that for us (DW is handicapped). You only live once.

 

[Montecfo]

I remember the 1970s when everyone sold their big cars for dirt cheap. I wonder at what point we see that happen again.

Was thinking about all the RVs bought during the pandemic. Good deals coming?

 

[eytonxav]

Driving back and forth to the supermarket is more expensive and so are the groceries you buy. I suspect we have not seen anything yet, much worse inflation to come. What a mess we are in and so quickly.

 

[finnski1]

Of course they're going up fast. I just reserved 38 nights for our cross country travel trailer trip starting next month! About 8-9000 miles pulling with the Toyota Tacoma. Oh well maybe I can post in the BTD thread.
Down to Cape Hatteras then over to New Mexico/Arizona. Stop in Sedona. Bunch of National Parks. Grand Canyon, Zion, Bryce, Capitol Reef, Canyonlands, Arches, Black Canyon of the Gunnison, Rocky Mountain National. Back thru Hot Springs NP and then up thru the Great Smoky Mountains( Blue Ridge Parkway) and Shenandoah Sky line.
I'm planning for an average price of $5.00/gallon and possibly higher. At 17-18 MPG.

 

[freedomatlast]

I won't be changing how much driving I do at all. I have a few vehicles that all get upper thirties and low forties in miles per gallon, so I won't be impacted as much as the folks with the $80,000 gas guzzling trucks as their primary vehicle. Also, part of being FI by a wide margin is not having to worry the about financial impacts of higher energy costs.

 

[disneysteve]

I remember the 1970s when everyone sold their big cars for dirt cheap. I wonder at what point we see that happen again.

To some extent, this time really is different in that regard. Today, people have legit options in the form of electric vehicles. Their popularity was already growing rapidly. I see them on the road all the time, more than ever. Most major auto producers have already announced their plans to ramp up production and that was unrelated to rising gas prices.


I don't know that people will proactively dump their gas cars, but when the time comes to buy the next one, they may more seriously consider electric.

 

[Montecfo]

My DW just came into my office and said "Do you think we should cancel our wild west trip"? She has been checking her Fidelity balance every day and is scared. I told her that we would wait until May and decide then. We have all our campgrounds reserved, and if we cancel at least 48 to 72 hours ahead we don't get charged on our cards. I figure that the 7-8 mpg the truck gets pulling the camper if gas goes up more than it is now by $2.00 per gallon it will cost us $8k more to go just for gas. If so we may cancel and wait to see what happens. We have just waited so long for this to happen for us that I really want to do it. My birthday this year is one of the zero years which my DGD told me Friday when we picked her up from school. All the zero year birthdays are big ones Papa ! LOL Any way I hope things settle down early rather than later. And yes I do know I'm blessed to be able to even think about doing a trip like this---1st world problem for most of us here.

So 4000 gallons of gas at 7.5 MPG = 30,000 miles. That is a lot of driving.

 

[finnski1]

My DW just came into my office and said "Do you think we should cancel our wild west trip"? She has been checking her Fidelity balance every day and is scared. I told her that we would wait until May and decide then. We have all our campgrounds reserved, and if we cancel at least 48 to 72 hours ahead we don't get charged on our cards. I figure that the 7-8 mpg the truck gets pulling the camper if gas goes up more than it is now by $2.00 per gallon it will cost us $8k more to go just for gas. If so we may cancel and wait to see what happens. We have just waited so long for this to happen for us that I really want to do it. My birthday this year is one of the zero years which my DGD told me Friday when we picked her up from school. All the zero year birthdays are big ones Papa ! LOL Any way I hope things settle down early rather than later. And yes I do know I'm blessed to be able to even think about doing a trip like this---1st world problem for most of us here.

Ouch! I was just replying with my own trip but I still get 17-18 MPG towing my little camper. We are of he same mindset and are going anyway. Probably put close to 9000 miles on in 5 and 1/2 weeks. We have been putting it off for several years for various reasons. I say go for it.

 

[Andre1969]

I just paid $3.939/gal for 87 octane yesterday, in Millersville, MD. While that's bad, I can remember in 1979, Mom complaining when gas went up to around $1.10/gal. At the time, she was driving a 1975 LeMans with a 350-2bbl, and even in the best of conditions, it would get maybe 15 mpg.

Adjusting for inflation, that's like $4.26/gal in today's dollars. But worse, in that timeframe we had the oil embargo, and it was common for stations to run out of gas. There were also long lines at the pump. I can't remember if they actually rationed gas or did "odd/even" days like they did during the first oil embargo, but it was still pretty bad.

Bad enough, that in February of 1980, Mom traded that LeMans for a new Malibu coupe with a 229 V6 that could easily get 20 mpg. That doesn't sound so hot by today's standards, but it was a pretty big deal at the time. For us, at least.

For comparison, the 2003 Regal I filled up yesterday gets about 19-20 mpg at the worst, and can break 30 on the highway. So in this case at least, I'd say I'm in a lot better shape than my Mom was, back in 1979! Or '80, even, as the Regal still does better than that Malibu did.

As for people giving up their big cars again? What big cars? America gave up the last vestiges of those in the 1990's, with the exception of Ford's Panthers...but even those were increasingly fleet sales in later years (police, taxi, rental agencies, livery/limo services etc). We've moved on from cars to trucks, SUVs, and crossovers. And for the most part, the heavy sellers in those departments already get fairly good fuel economy. And people tend to be less reluctant to part with their full-sized trucks, than they were with cars.

 

[disneysteve]

As for people giving up their big cars again? What big cars? America gave up the last vestiges of those in the 1990's

That's true. The "full size" sedans today are tiny compared to the tanks we drove in the 70s. My Camry isn't nearly as big as my 73 Impala, and I'm sure the Impala weighed a whole lot more too.

 

[Midpack]

Gas has been going up where we live more than 10 cents/gal every day for about a week here. But that’s not a surprise and I expect it will stabilize at some higher level soon - we're at $3.899/gal for regular today. If the war escalates, there will be an even higher high. All we can do is hope things don’t get worse in Ukraine, but I’m not optimistic. Glad we have two hybrids, but we’re impacted like everyone else, just a slightly different base case.

 

[Montecfo]

That's true. The "full size" sedans today are tiny compared to the tanks we drove in the 70s. My Camry isn't nearly as big as my 73 Impala, and I'm sure the Impala weighed a whole lot more too.

But all the trucks are the "full size sedans" now.