Gas pricing

What is gas pricing in your area? I seen one gas station in Clinton, Iowa was 3.07. Do you think we will see gas in the 2.00 range. Can only wish!!!

3.15

3.19 in Alexandria, MN last night.
DT

$2.00/gallon gas prices???? NOT ON YOUR LIFE>>>> Too much oil company greed !!

hey am happy at this price if it stay through spring time.

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$2.00/gallon gas prices???? NOT ON YOUR LIFE>>>> Too much oil company greed !!

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It’s not so much the greed of the oil company. If you look at their margins, their percentage of profit is a lot lower than any retail outlet.

It’s mostly due to the ever increasing demand, government regulations and taxes, and the tampering of OPEC. It’s the Saudi princes who are the ones living in 500 room palaces, building indoor ski slopes, and driving gold plated Ferarris.

As for $2.00/gallon gas? We’ll never see it again unless we’re looking at pictures from 10 years ago.

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$2.00/gallon gas prices???? NOT ON YOUR LIFE>>>> Too much oil company greed !!

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Since it is not your birthday anymore, I can say it doesn’t work that way.

$3.29 here for the last week or so. It was down to $3.19 not too long ago and I sort of hoped it would keep going. Then again, you have to be careful what you wish for. Low gas prices mean low demand mean a stumbling economy.

I am a little concerned that we may get a rude awakening when the economy turns around, especially if it is too fast. The faster it is, the more it will skyrocket.

Interesting. I just compared the average gas price for the last 5 years to the DJIA stock market index. Both are pretty much the exact same chart.

This is interesting though. Crude Oil price and gas price chart mirrors each other except for very recently.

Link

$3.0799 here, if you go to Hyvee and get groceries you get a .05 discount and .03 cash discount, Walmarts gas station gives you .10 cents off.

We have the worst gas prices in the state of WI for a city of it’s size. The city counsel just had the attorney generals office do a study about possible gas price fixing.

It took them 6 months to do the study and I could of gave them an answer in 2 minutes by using the website gas buddy. They interviewed the owners of the stations and asked them if there was any price fixing, DUH what do you expect them to say!!

We are 20 to 25 cents higher than a lot of stations in the state and 5 to 10 cents higher than small towns that are 10 miles away, why is that?

They said it was more expensive here because we are the end of the pipeline, the last time they looked into it the pipeline ended in Wausau, huh guess it changes where it stops. They also said we have 87 octane and others have 85, that’s BS I checked stations nearby and in Madison when I was there last week, 87 octane and 25 cents a gallon cheaper than here.

We are at $3.39, we were at $3.34 until the report came out and it went up the next day!!!

Isn’t there a law in WI where stations can only charge like .08 over their cost?

$3.29…lowest so far this year in the U.P. They are at $3.17 in lower Mich…

I’m with Hairjig on the 2$ possibility…

If $2.99 is considered $2 something gas ? Maybe ….

Seeing that most crude oil is based on texas sweet crude same as forigen crude. The differance between the american dollar and the euro raises the finnished product to the cosummer.Plus the fact that crude oil is a tradeable comodity that does’nt help pricing any

$3.27 and that has fluctuated over the last few days into the $3.30’s and back down now… But Christmas is coming so I expect it to go up some again…

Mark

$3.29 this morning when I filled up.

No, I do not think we will ever again see gas substantially below $3 a gallon, much less at $2.00 a gallon.

And the question has to be asked, “Why should we?” Do you expect to see new pickup trucks priced at $10k again? Beer at $10 for a case? Yeah, it’d be nice, but there’s this little thing called inflation . . .

I saw an article in Car & Driver some years ago that looked into the “good old days” of “low” gas prices that everyone talks about back in the 1960s.

In truth, fuel prices have been one of the few things in the economy that have not kept pace with inflation. Looked at as a % of average income, gas prices in the late 90s and early 2000s were cheaper than they have EVER been.

In 1967, my father bought a new Pontiac GTO. As he puts it, it could pass everything on the road except the gas station. Sure, gas prices were “low” by today’s standards, but so was his income of just over $7000 per year!

Even now with $3.29 a gallon gas, the price is lower than it would be if fuel prices had risen at the same rate as nearly everything else.

Depending on whose numbers you use and what you include in your inflation calculation, if fuel prices had kept pace with inflation since the 1960s, we would be paying somewhere between about $5 and $6 a gallon for gas.

Grouse

Great post, Ihprop1. Don’t forget the Koch monopoly on refining.

I dont believe $2.00 to be out of the question. It can happen if the govt allows it. My guess is that if it does happen, it will be sometime in mid-october…just before election time.

It’s hard to believe but in December 2008 the avg price of gas in the USA was $1.61.
http://news.consumerreports.org/cars/2008/12/gas-prices-4.html

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Isn’t there a law in WI where stations can only charge like .08 over their cost?

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Actually the law is just the opposite, The law says retailers must mark up gas 6% over certain costs or 9.18% over the average wholesale price, whichever is greater.

In other words bend over and take it!!! Not sure what some of these judges are thinking when they allow this?

$3.15 a gallon here along I-80 in the middle of Illinois.

$3.19 here in the Winona area (SE MN)

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$2.00/gallon gas prices???? NOT ON YOUR LIFE>>>> Too much oil company greed !!

---

It’s not so much the greed of the oil company. If you look at their margins, their percentage of profit is a lot lower than any retail outlet.

It’s mostly due to the ever increasing demand, government regulations and taxes, and the tampering of OPEC. It’s the Saudi princes who are the ones living in 500 room palaces, building indoor ski slopes, and driving gold plated Ferarris.

As for $2.00/gallon gas? We’ll never see it again unless we’re looking at pictures from 10 years ago.

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I disagree.

The oil companies are THRILLED, with high oil prices. Yes, their margin is low, but it’s simple arithmatic to see that the HIGHER the price of oil the more money they make.

5% times $100 oil generates four times as much gross profit as 5% times $25 oil with the same “low margin.”

Dan

I have to disagree with the pick-up truck pricing analogy. When a truck was $10K, you got a $10K truck…. you can still get a truck close to $10K, it will just have a heater and keys. Trucks that are now $30K, have $20K in features, that the $10K truck didn’t even have the options available back then. I also believe, when you bought $1 gas 30 years ago, you got alot more GAS… opposed to the detergents and additives they put in the $3 gas now. Also, it is WAY more efficient, the way they procure fuels now, than they were 30 years ago.

Keep making gas out of corn, I am sure that really helps gas prices and food prices…

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hey am happy at this price if it stay through spring time.

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That is part of the problem! We think this is a good price after all the fkn we have gotten! We were down to $3.09 now its up in two days to $3.26. Oh yeah christmas is coming!

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The oil companies are THRILLED, with high oil prices. Yes, their margin is low, but it’s simple arithmatic to see that the HIGHER the price of oil the more money they make.

5% times $100 oil generates four times as much gross profit as 5% times $25 oil with the same “low margin.”

Dan

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Fortunately, that’s not how the math works on this. The price of oil only accounts for 68% of the cost of gasoline or diesel. Of that, the oil companies (e.g. Exxon) profit is only between 2 and 3 cents per gallon. That part doesn’t change.

What does change is the price of a barrel of oil which is driven primarily by speculators and by the suppliers (OPEC).

Consumer demand drives local refineries and individual gas stations to raise or lower their prices based on current supplies. Different seasonal blends also account for price fluctuations.

The “big oil” companies themselves see a very small percentage profit. When we as a country consume billions of barrels of oil every day, it adds up pretty quickly.

On the other hand Apple, which showed a 95% increase in net profits in its quarter, from $3 billion to $6 billion, had Steve Jobs proudly announce those results in his April 20, 2011 news conference. Where were the protestors for that? Oh, that’s right, they were all busy listening to their Ipods and typing away on their Ipads.

Oil companies, just like Apple, provide a product that is in demand. As long as the demand remains, so will the price increases.

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$3.29 this morning when I filled up.

No, I do not think we will ever again see gas substantially below $3 a gallon, much less at $2.00 a gallon.

And the question has to be asked, “Why should we?” Do you expect to see new pickup trucks priced at $10k again? Beer at $10 for a case? Yeah, it’d be nice, but there’s this little thing called inflation . . .

I saw an article in Car & Driver some years ago that looked into the “good old days” of “low” gas prices that everyone talks about back in the 1960s.

In truth, fuel prices have been one of the few things in the economy that have not kept pace with inflation. Looked at as a % of average income, gas prices in the late 90s and early 2000s were cheaper than they have EVER been.

In 1967, my father bought a new Pontiac GTO. As he puts it, it could pass everything on the road except the gas station. Sure, gas prices were “low” by today’s standards, but so was his income of just over $7000 per year!

Even now with $3.29 a gallon gas, the price is lower than it would be if fuel prices had risen at the same rate as nearly everything else.

Depending on whose numbers you use and what you include in your inflation calculation, if fuel prices had kept pace with inflation since the 1960s, we would be paying somewhere between about $5 and $6 a gallon for gas.

Grouse

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So true. The reason it seems to hit us so bad is because adjusted for inflation gas had steadily cost less and less. Then just recently did we see an upward trend which not even the old farts like BK had seen in their lifetime.

I swear, some of you could be hit upside the head with the bag of record breaking cash that the oil companies are getting every quarter and STILL feel sorry & try to justify for them…

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I swear, some of you could be hit upside the head with the bag of record breaking cash that the oil companies are getting every quarter and STILL feel sorry & try to justify for them…

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Well maybe we should socialize it. Someone get a hold of Chavez.

Not sure anyone feels sorry for them and we don’t need to justify their profits. Nor do we have to justify the Commodity Traders. Why no hate for the grocery store chains making profits? Why no hate for 3M and Medtronic.

The truth is that if they are making record profits it is for a product that cost less over time when adjusted for inflation. Those jackbags greedy son of a guns must be investing in technology that makes extraction and refining cheaper. Hang’em right now.

a few weeks ago, gas was $2.99 a gal here in onamia. billies on the south side of town, has been the cheepest for the last 8 months. he has been .06 to .08 cents cheeper than meleen’s. even made the mille lacs messenger to explane why.