Expect a big jump in gasoline prices

[Koolau]

Primarily due to Covid, we drove fewer than 1000 miles last year. Still on my first tank of gas for the year, though I'm below 1/2 tank now - guess I better go find out the "damage" at Costco Gas. Last time was $2.70/gal. They typically do not spike like the other local stations. They creep up, apparently depending on their actual current costs - what a concept, but YMMV.

I was wrong! Costco was $3.13 which is only a $.17/gal savings from the lowest priced gas I've seen on Island. Many stations are up around $3.40 to $3.50, but I know where to go for $3.29 that isn't Costco. I think this is the first time I've seen Costco NOT save me about $.30/gal or more. At least I was in the Costco area, otherwise I would have been honked off a bit. YMMV

 

[rk911]

I was wrong! Costco was $3.13 which is only a $.17/gal savings from the lowest priced gas I've seen on Island. Many stations are up around $3.40 to $3.50, but I know where to go for $3.29 that isn't Costco. I think this is the first time I've seen Costco NOT save me about $.30/gal or more. At least I was in the Costco area, otherwise I would have been honked off a bit. YMMV

i don’t understand. you’re upset because Costco is selling gas for only $0.17 p/g less than the next lowest priced gas in town? huh??

 

[audreyh1]

It’s usually a much larger difference in Hawaii.

 

[Time2]

Our local Sam's club doesn't have their fuel price sign lit. It has been off for about a month.


Does anyone else's Sam's club have their fuel price sign turned off?


My wife says it is because a recently opened fuel station a 1/2 block away is beating their prices and they don't want to show that. It is beating Sam's price, but, I don't agree, that is the reason, however, I don't know why they have their sign off.

 

[Venturer]

Does anyone else's Sam's club have their fuel price sign turned off?
Our nearest Costco used to post gas prices on the wall beside the entrance and you could see it from the parking lot. Now it only shows on the gas pump.

 

[ERObjd]

most places here in Lincoln are in the 2.64 to $2.75 according to Gasbuddy. Cheapest in town is Sams club and Costco..both at $2.59. I don't have membership at those places so I get gas at HyVee which is about 2.65.

No matter if people buy fuel or not,or use a lot of fuel or dont, the upswing in fuel prices will find it's way to nearly every consumer product that is transported. Consumers will pay one way or another.

 

[Koolau]

i don’t understand. you’re upset because Costco is selling gas for only $0.17 p/g less than the next lowest priced gas in town? huh??

Yes (maybe upset is wrong word).


audreyh1 nailed it! Costco USUALLY (as in I don't recall a time when they didn't) sell for $.30 less than the lowest "gas station." AND (worst of all) when local gas prices go up rapidly, USUALLY Costco goes up very slowly. This time, Costco seemed to go up faster than they usually do AND they are not the bargain they usually are. In times past, when prices spiked quickly (much more so than the recent $.30 to $.40 gas price spike) Costco would end up a dollar less than most stations. That would slowly change until - if other gas prices became stable at a new "high" - then Costco would return to their more typical $.30/gal cost advantage.

Now, please do not understand. I believe any business is entitled to run their business in a way that is best for them. It's just that I see a difference that I have not seen in the past 10 years. In the old days, I just always planned to wait until I was within a few miles of Costco and then drive a few extra miles to fill up. Now, I may have to rethink the extra miles driven to Costco if I'll only save $.17/gal ($1.50/tank or so.)

I brought this up because I have often in this forum "bragged" on Costco as the go-to place for gas. Since most folks have to drive a lot further to get to Costco to buy gas, maybe I will rethink my strategy. As always, your situation may be different, so YMMV.

 

[rk911]

Yes (maybe upset is wrong word)...(snip)

In the old days, I just always planned to wait until I was within a few miles of Costco and then drive a few extra miles to fill up. Now, I may have to rethink the extra miles driven to Costco if I'll only save $.17/gal ($1.50/tank or so.)

our Costco is maybe a 20-min stop-n-go drive so I won't usually go there to save a few pennies unless I'm already nearby...which isn't often. but...let's see what the math says.

Google Maps says our Costco is 7-miles and we're averaging 14-mpg between the two vehicles. so that's 1-gallon round trip. average fill up is somewhere around 10-gal which means 9-gal net or $1.53 (assuming the $0.17 savings).

Conversely, let's say the station we use the most was the next cheapest at $0.17 more than Costco. That station is 3.8-mi or roughly 1/2 the distance of the round trip to Costco. That's 1/2-gal of gas which means the 10-gal fill-up is really 9.5 gallons net but we get a discount of $0.05 per gallon there so the savings is $0.48 or a difference of $1.05.

Looking at it like that I can see why Koolau made the statement.

btw...I do fill up the motor home at Costco mainly because there is plenty of room to maneuver.

 

[Koolau]

Yeah, the math used to be easy. Figure $.30/gal minimum savings at Costco vs maybe $.50/mile driving distance - I think Edmonds says $.50 to $.60/mile for "everything." Complicating the calculation (even to this day) is the fact that the "cheap" station (next best thing to Costco) would STILL be an 8 mile trip (instead of 13 to Costco) if I simply started from home - and we have a "moderate" cost station around the corner. BUT since we (used to be) out and about, we'd get within 2 or 3 miles of ONE of the cheaper places - usually Costco. I'm just hoping this all "reverts to the mean" soon. I used to pay for my Costco membership with my gas savings - not so much now with Covid 19 around. YMMV as always.

 

[aaronc879]

I saw my first Ford Mach-E today and I heard they are selling very well nationwide. I would expect that reduced demand for gas due to increased electric car sales should keep gas prices from getting too high and eventually should reduce the price of gas due to permanent lower demand.

 

[rk911]

Yeah, the math used to be easy. Figure $.30/gal minimum savings at Costco vs maybe $.50/mile driving distance - I think Edmonds says $.50 to $.60/mile for "everything." Complicating the calculation (even to this day) is the fact that the "cheap" station (next best thing to Costco) would STILL be an 8 mile trip (instead of 13 to Costco) if I simply started from home - and we have a "moderate" cost station around the corner. BUT since we (used to be) out and about, we'd get within 2 or 3 miles of ONE of the cheaper places - usually Costco. I'm just hoping this all "reverts to the mean" soon. I used to pay for my Costco membership with my gas savings - not so much now with Covid 19 around. YMMV as always.

about the only thing we buy at Costco anymore is the gas, their Christmas Candy and their coffee cake muffins. we have the basic membership. $ wise it doesn't make sense but....DWA (Donna wants it).

 

[W2R]

$2.39/gallon for regular at our nearest Exxon station, today.

Jumped up to $2.49/gallon by today! I didn't need any gas but noticed while driving by. Maybe this is the beginning of the Big Jump in gas prices.

 

[SecondCor521]

We've gone from about $2.20 a gallon about two months ago to about $2.80 a gallon now.

At around $3.75 is when everyone around here decides gas is too expensive and switches from the big trucks and SUVs to smaller cars, motorcycles, etc. It's amazing to me because it's almost an overnight difference and quite noticeable. I would have guessed that it would be more gradual than it is.

 

[MichaelB]

Good thing we’re driving less than usual, gasoline here is up considerably since the last time I filled the tank. I’m sure it will rise a bit more as the weather improves, vaccinations continue and people hit the road in greater numbers.

 

[CardsFan]

about the only thing we buy at Costco anymore is the gas, their Christmas Candy and their coffee cake muffins. we have the basic membership. $ wise it doesn't make sense but....DWA (Donna wants it).

Shouldn't that be a DWI (Donna Wants It)

 

[Popeye]

I saw my first Ford Mach-E today and I heard they are selling very well nationwide. I would expect that reduced demand for gas due to increased electric car sales should keep gas prices from getting too high and eventually should reduce the price of gas due to permanent lower demand.

I guess it’s relative. I’ve seen February sales numbers at 3,739 for the MachE. I think it will be a few years before demand for gas goes down enough due to EV vehicles. Even then you will likely see refineries close cutting supply and keeping a balance. It remains to be seen where that price point will be.

 

[38Chevy454]

I saw my first Ford Mach-E today and I heard they are selling very well nationwide. I would expect that reduced demand for gas due to increased electric car sales should keep gas prices from getting too high and eventually should reduce the price of gas due to permanent lower demand.

I don't give politicians that much credit, they will increase fuel taxes to make up for lost revenue due to lower sales volume. Fuel taxes make up a good portion of state's tax receipts. Not to mention any separate tax increases since a lot of talk about carbon taxes coming out of Wash DC.

 

[folivier]

They'll also add use taxes for EV's (probably based on miles driven) since they won't be getting gas taxes from them.

 

[REWahoo]

They'll also add use taxes for EV's (probably based on miles driven) since they won't be getting gas taxes from them.

+1

Our state legislature is considering tacking on additional annual registration fees for hybrids ($100) and EV's ($200).

 

[Amethyst]

I remember paying $1.10 a gallon in 1981. It really hurt back then, since I didn't make much.
$3.00 a gallon isn't even keeping up with inflation.

I believe it. Gasoline is dirt cheap.
Sometime in 2006, the Minneapolis Star Tribune newspaper had an article about what certain things cost 25 years earlier in 1980.

 

[W2R]

Good thing we’re driving less than usual, gasoline here is up considerably since the last time I filled the tank. I’m sure it will rise a bit more as the weather improves, vaccinations continue and people hit the road in greater numbers.

So far this year I have filled my tank up twice, so my spending on gasoline averages less than a dollar a day so far.

That's fine - - with all the jerks on the road, seems to us that driving isn't as much fun as it used to be.

 

[ExFlyBoy5]

I remember paying $1.10 a gallon in 1981. It really hurt back then, since I didn't make much.
$3.00 a gallon isn't even keeping up with inflation.

When I was in high school, it could be had for about .90 a gallon in 1989...which *wasn't* that long ago. Well, that's what I tell myself. My little Toyota Starlet could go a LONG way on $5!!! The attached chart shows that the price really hasn't changed too much if adjusted for inflation.

Our local Coscto is 2.42 while across the street it can be had for 2.49 (both offer "Top Tier" gasoline) so I agree; it's not the great deal it used to be. And I certainly won't be driving 30 miles to save 7 cents!

 

[REWahoo]

When I was in high school, it could be had for about .90 a gallon...

When I was in HS it was $0.29/gallon. Yes, you could still occasionally get a whiff of the dinosaur it was squeezed from.

 

[MichaelB]

When I was in HS it was $0.29/gallon. Yes, you could still occasionally get a whiff of the dinosaur it was squeezed from.

I remember those days. My mum would drive to the gas station and ask for “One dollar’s worth of regular, please”. It was also the expected contribution from us yutes if we were able to borrow the car for the evening.

 

[braumeister]

When I was in HS it was $0.29/gallon. Yes, you could still occasionally get a whiff of the dinosaur it was squeezed from.

I had a small motorcycle with a tank that held just over a gallon. I remember bragging that I could go to the most expensive gas station around (Amoco) and fill it up for a quarter.