Author Topic: So what's everone paying for gasoline?  (Read 384757 times)

makattak

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Re: So what's everone paying for gasoline?
« Reply #625 on: January 18, 2016, 04:29:55 PM »
$1.69 when I filled up this afternoon.

Adjusted for inflation, that's pretty much the same price as the $1 gas that I was buying when I first started driving.
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Monkeyleg

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Re: So what's everone paying for gasoline?
« Reply #626 on: January 18, 2016, 04:30:45 PM »

wmenorr67

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Re: So what's everone paying for gasoline?
« Reply #627 on: January 19, 2016, 09:21:24 AM »
$1.29 for the most part now here in T-town.
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KD5NRH

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Re: So what's everone paying for gasoline?
« Reply #628 on: January 19, 2016, 10:08:00 AM »
$1.429 last night.  At this rate, going to Odessa (270 miles each way) for a weekend with the pretty lady there doesn't sound so bad.  $50 would easily handle the gas.

charby

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Re: So what's everone paying for gasoline?
« Reply #629 on: January 19, 2016, 10:08:35 AM »
He's done a fantastic job of destroying the coal industry.   :mad:
Cheap natural gas killed coal.
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Re: So what's everone paying for gasoline?
« Reply #631 on: January 19, 2016, 10:18:26 AM »
$1.85/gal for Unleaded Plus last fillup here in Indy.

K Frame

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Re: So what's everone paying for gasoline?
« Reply #632 on: January 19, 2016, 10:23:17 AM »
Wow!

Yeah, except as of this morning, the price war is over and the price is back to the area-prevailing $1.50ish, according to national news.
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Re: So what's everone paying for gasoline?
« Reply #633 on: January 19, 2016, 10:33:14 AM »
Yeah, except as of this morning, the price war is over and the price is back to the area-prevailing $1.50ish, according to national news.

Well, a buck fity is still "wow" territory compared to what I'm paying.  :laugh:
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Scout26

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Re: So what's everone paying for gasoline?
« Reply #634 on: January 19, 2016, 10:47:51 AM »
BP was a $1.85 last night on the way home and $1.83 this morning as I went by.  I figure they'll be giving it away here in a couple of weeks.

I just need it to warm up so I can wash the road salt off my car and get an additional $.20 off per gallon.
« Last Edit: January 20, 2016, 10:46:58 AM by scout26 »
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Re: So what's everone paying for gasoline?
« Reply #635 on: January 19, 2016, 10:57:50 AM »
I can get non-ethanol premium for $1.75.
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Re: So what's everone paying for gasoline?
« Reply #636 on: January 19, 2016, 11:01:29 AM »
$ 2.02/gallon unleaded this morning at the Marysville Costco, 40 miles north of Seattle.  I would not be surprised to see it below the $ 2.00 mark in the next few days.
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lupinus

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Re: So what's everone paying for gasoline?
« Reply #637 on: January 19, 2016, 01:30:19 PM »
1.58ish now, plus or minus a couple cents depending what area you drive through.
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K Frame

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Re: So what's everone paying for gasoline?
« Reply #638 on: January 20, 2016, 07:33:51 AM »
Mostly agree, though there is the small valve connected to national reserves that can and has been turned on before.  There's only so much a president can drain from the reserves though. I don't know what the maximum price effect that it can have time-wise is, but I would suspect not more than a year or so, and that would still be tied to market forces. I can't remember how big an effect it had when the last Bush did it.

Also, I think the strategic reserve valve only turns one way, to artificially reduce prices in a high market.

More than a YEAR?


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The last two releases from the reserve were in 2005 (Hurricane Katrina supply domestic pumping interruption) and 2011 (disruptions caused by the Arab Spring movement, and matched by a similar release by IEA nations).

In both cases the price of oil was trending sharply higher. The releases only slowed the upward spiral, and only for less than a week, if that.

The reality is that a release from the SPR will do nothing to contain oil when it's in a climb mode being fueled by level production and rising demand.
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Re: So what's everone paying for gasoline?
« Reply #639 on: January 20, 2016, 10:16:26 AM »
More than a YEAR?


BBBBBBBBBBBBBWWWWWWWWWWWWWWHAHAHAhahahahahahahahahahah!

The last two releases from the reserve were in 2005 (Hurricane Katrina supply domestic pumping interruption) and 2011 (disruptions caused by the Arab Spring movement, and matched by a similar release by IEA nations).

In both cases the price of oil was trending sharply higher. The releases only slowed the upward spiral, and only for less than a week, if that.

The reality is that a release from the SPR will do nothing to contain oil when it's in a climb mode being fueled by level production and rising demand.

Hence why I said "small", NOT more than a year, and tied to market forces.
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K Frame

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Re: So what's everone paying for gasoline?
« Reply #640 on: January 20, 2016, 10:48:46 AM »
Yep, sorry, I misread your post.

But still...


BBBBBBBBBBBBBBWWWWWWWWWWWWWWWWWWWWHAHAHAHAHAHAHAHahahahahahahahahahahahahha!


And WTI is, once again, falling like a stone. $27 and change a barrel right now.
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wmenorr67

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Re: So what's everone paying for gasoline?
« Reply #641 on: January 20, 2016, 10:56:00 AM »
Prices jumped to $1.43 overnight.
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Re: So what's everone paying for gasoline?
« Reply #642 on: January 20, 2016, 10:57:49 AM »
Yep, sorry, I misread your post.

But still...


BBBBBBBBBBBBBBWWWWWWWWWWWWWWWWWWWWHAHAHAHAHAHAHAHahahahahahahahahahahahahha!


And WTI is, once again, falling like a stone. $27 and change a barrel right now.

No problemo. Also, I wasn't promoting their use (not that you said I was). I think using the strategic reserves in that way is stupid. They're called strategic for a reason, so I don't like to see administrations using them for crap like temporary price relief for consumers. It's a short-term solution that ends up making free market corrections take longer.

If you were to calculate in the costs of dragging out a price rise by slowing it down, it might actually end up costing consumers more money.
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K Frame

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Re: So what's everone paying for gasoline?
« Reply #643 on: January 20, 2016, 11:32:48 AM »
While people in the past have called for releases from the SPR to smooth out prices, the reality is that that has never been done.

The two most recent releases were done for strategic reasons relating to interruption of supply.
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wmenorr67

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Re: So what's everone paying for gasoline?
« Reply #644 on: January 20, 2016, 11:33:56 AM »
While people in the past have called for releases from the SPR to smooth out prices, the reality is that that has never been done.

The two most recent releases were done for strategic reasons relating to interruption of supply.

Which is one of the very few reasons it should be opened up.
There are five things, above all else, that make life worth living: a good relationship with God, a good woman, good health, good friends, and a good cigar.

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K Frame

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Re: So what's everone paying for gasoline?
« Reply #645 on: January 20, 2016, 11:39:14 AM »
A more routine transaction involves short-term borrowing from the reserve.

Companies can make withdrawals from the reserve to smooth out ripples in their supply and production schedules so that they don't have to reduce operations, or even shutter, a refinery. Shuttering a refinery is bad juju, because it can take weeks to get one fully operational again.

Those withdrawals are then "paid back" to the reserve from shipments.
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Re: So what's everone paying for gasoline?
« Reply #646 on: January 20, 2016, 11:42:31 AM »
The two most recent releases were done for strategic reasons relating to interruption of supply.

Huh. I had thought Bush did it because foreign producers reduced what they were giving us for price control. I need to go back and read about it. I agree if there are infrastructure interruption reasons it should be carefully used.
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K Frame

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Re: So what's everone paying for gasoline?
« Reply #647 on: January 20, 2016, 11:52:33 AM »
Nope.

http://energy.gov/fe/services/petroleum-reserves/strategic-petroleum-reserve/spr-quick-facts-and-faqs

There was one general release under the Bush Administration, in 2005 in the aftermath of Hurricane Katrina.

This page has a list of SPR transactions: http://energy.gov/fe/services/petroleum-reserves/strategic-petroleum-reserve/spr-quick-facts-and-faqs
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KD5NRH

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Re: So what's everone paying for gasoline?
« Reply #648 on: January 20, 2016, 12:05:06 PM »
47 cents a gallon in my parents' hometown, Houghton, MI.

Is it bad that I started thinking if I still had the Saturn (or better yet, the 45MPG Suzuki Swift I used to have) and enough cans, I could have made the trip worthwhile?

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Re: So what's everone paying for gasoline?
« Reply #649 on: January 20, 2016, 12:05:27 PM »
"I'm a foolish old man that has been drawn into a wild goose chase by a harpy in trousers and a nincompoop."