Author Topic: Gasoline prices (Read 72276 times)

Libertas · « **Reply #480 on:** December 14, 2015, 08:46:06 AM »

http://www.bloomberg.com/news/articles/2015-12-14/oil-falls-below-35-in-new-york-for-first-time-since-2009

And the OPEC glut continues...

ToddF · « **Reply #481 on:** December 14, 2015, 10:22:52 AM »

Filled up for less than $20, for the first time in a long time.

Good for me, bad for the American industry. Saudi Arabia will squeeze our balls, the first chance they get after bankrupting the American industry.

Libertas · « **Reply #482 on:** December 14, 2015, 11:27:06 AM »

Trump seems to be wanting to kick some Saudi balls first chance he gets...

http://www.zerohedge.com/news/2015-12-13/donald-responds-dopey-daddys-boy-saudi-princes-slur

Hilarious, a ponce of prince lecturing what a proper Pubbie and American should be!

Kinda makes you wonder though how many armchair tough guys in Congress take the money and don't care what happens to industry or American jobs here...

Probably way more than people think or want to admit.

richb · « **Reply #483 on:** December 14, 2015, 03:07:45 PM »

Prices have been inching back up round here (nw indiana). Closing in on going above $2 again, over $2 in Chicago. Actually got down to 1.68ish for a few days.

Libertas · « **Reply #484 on:** December 14, 2015, 04:35:06 PM »

Tis the season to give, eh?

ToddF · « **Reply #485 on:** December 15, 2015, 06:14:20 AM »

Tis the season for SuperAmerica/Speedway to declare a gouge, back to $1.999.

Costcos are still between $1.729 and $1.799.

Libertas · « **Reply #486 on:** December 15, 2015, 07:32:54 AM »

Quote from: MNHawk on December 15, 2015, 06:14:20 AM

Tis the season for SuperAmerica/Speedway to declare a gouge, back to $1.999.

Costcos are still between $1.729 and $1.799.

Are you still sticking with CostCo when they switch from AMEX to Crapitol Wun VISA? I got a letter from Sam's Club inviting me to switch my card to them, they are not as close to me as CostCo, but a couple are on the way home if I take alternate routes...I'm half tempted to give Sam's a shot...I really don't like Crapitol Wun.

ToddF · « **Reply #487 on:** December 15, 2015, 08:24:17 AM »

No, because I'm bugging out anytime from April on, which is when my membership becomes due. I'll wait until I get overseas before renewing, as Costco only costs $15 per year in Taiwan.

I DID take American Express up on their offer for a new, non Costco card, as it comes with decent rewards and no annual fee. I'll make that my main card, now, and use my Amazon Visa as my second. You could use any VISA at Costco.

Libertas · « **Reply #488 on:** December 15, 2015, 08:44:36 AM »

Ahh, right. I forgot about your retirement location/timing.

I had an AMEX before the CostCo one, I really don't need two.

ToddF · « **Reply #489 on:** January 07, 2016, 10:13:09 AM »

One of the largest maintained spreads, percentage wise, between the Costcos and the Cartel of SuperFraud/BP I've ever witnessed.

$1.60s and $1.70s for Costco/Sams, and the cartel keeps trying to price fix at $1.999.

Libertas · « **Reply #490 on:** January 07, 2016, 11:13:57 AM »

Sans desperate need or nowhere else to go for subsidized E85...the vast majority still pulling into the cartel oasis must be Obama-voters.

rustybayonet · « **Reply #491 on:** January 07, 2016, 07:12:33 PM »

Just filled up today. Prices here;

$1.61 - Raceway WalMart
$1.67 - Shell BP Exon

Libertas · « **Reply #492 on:** January 08, 2016, 06:16:27 AM »

Sticking with WalMart products...your WalMart gas is just 55.5% the cost of a gallon of low fat milk!

rustybayonet · « **Reply #493 on:** January 08, 2016, 07:21:05 AM »

Quote from: Libertas on January 08, 2016, 06:16:27 AM

Sticking with WalMart products...your WalMart gas is just 55.5% the cost of a gallon of low fat milk!

Isn't that the truth. Gas from both 'Wally World and Raceway' don't seem to give the same performance or mileage as the other choices I mentioned [only other brands in this area].

As a footnote; seems strange to me that those companies I listed - ALL seem to price together [within the hour] yet they don't get refueled as often as the prices change. [Example -I go by 4 of them going to work, yesterday on the way to work price at Raceway was $1.63, on the way back home [ 5 hours later] $1.61, and the three others changed down $.01. Yet while prices for the same brands in towns right next to this one have different prices - some a little lower and some a little higher, and they all claim prices are dictated by the 'company'. Could it be greed or price fixing? Nah -it's old fart syndrome

- they wouldn't do something like that, now would they !

Libertas · « **Reply #494 on:** January 08, 2016, 07:51:37 AM »

Quote from: rustybayonet on January 08, 2016, 07:21:05 AM

Quote from: Libertas on January 08, 2016, 06:16:27 AM
Sticking with WalMart products...your WalMart gas is just 55.5% the cost of a gallon of low fat milk!

Isn't that the truth. Gas from both 'Wally World and Raceway' don't seem to give the same performance or mileage as the other choices I mentioned [only other brands in this area].

As a footnote; seems strange to me that those companies I listed - ALL seem to price together [within the hour] yet they don't get refueled as often as the prices change. [Example -I go by 4 of them going to work, yesterday on the way to work price at Raceway was $1.63, on the way back home [ 5 hours later] $1.61, and the three others changed down $.01. Yet while prices for the same brands in towns right next to this one have different prices - some a little lower and some a little higher, and they all claim prices are dictated by the 'company'. Could it be greed or price fixing? Nah -it's old fart syndrome - they wouldn't do something like that, now would they !

Typically retailers price inventory based upon LIFO, but existing stocks still have a value...the inventory pool is elastic...so if prices in the crude market rise quickly the retail price will appear to jump quickly and if crude drops slowly then the retail price drops so slowly it's as if it isn't moving at all. Where people are at in their inventory mix and the rate of draw and fill factor into it as well. If prices are rising I want to pack as much in as fast as I can...when it is dropping there is no rush as long as I meet the demand flow. If nearby retailers are relatively close in managing their inventory and share nearly the same draw and fill rate having the same price is possible, but unlikely. Most do not want to be too out of synch with their neighbors and the way the stupid laws are preventing undercutting...there is a certain amount of play allowed to happen with the retail price...what the public sees as gouging. The real gouging is further up the chain (the exception being larger corporate owned entities that get a cut along each stage of the distribution process, not just at the retail level - what we've been calling "the cartel")...especially with the government getting its cut right off the top as well as all the regulatory burdens that have a cost to them. Oil companies make about 8% margin...retailers lucky to get half that rate...but make up for it with all the other high-priced "convenience" stuff they sell to impulse-ready customers.

Pandora · « **Reply #495 on:** January 08, 2016, 08:47:10 AM »

What is LIFO?

ToddF · « **Reply #496 on:** January 08, 2016, 08:51:23 AM »

Last in First Out

AmericanPatriot · « **Reply #497 on:** January 08, 2016, 08:53:10 AM »

Last In First Out, Pan.

Quote

Gas from both 'Wally World and Raceway' don't seem to give the same performance or mileage as the other choices I mentioned

All gas has to meet a minimum standard for quality, detergency and some other stuff to be allowed in the pipelines.

There are some differences in additive packages by brand but, I think some of the difference may be in your head, Rusty.

Pandora · « **Reply #498 on:** January 08, 2016, 09:01:34 AM »

Duh. Should have been able to figger that out. T'anks, guys.

Glock32 · « **Reply #499 on:** January 08, 2016, 01:59:32 PM »

Quote from: AmericanPatriot on January 08, 2016, 08:53:10 AM

Last In First Out, Pan.

Quote
Gas from both 'Wally World and Raceway' don't seem to give the same performance or mileage as the other choices I mentioned

All gas has to meet a minimum standard for quality, detergency and some other stuff to be allowed in the pipelines.

There are some differences in additive packages by brand but, I think some of the difference may be in your head, Rusty.

It might be down to differences in the ethanol content. Ethanol has a lower energy content than gasoline, so the engine burns more of it to achieve the same power output. Maybe in Rusty's case the cheap station is running the maximum 10% ethanol and the other stations have less?

Does fuel in the pipeline already contain ethanol, or do they blend that in at the terminals?