Dang Gas Prices

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Originally Posted By: GMBoy
Originally Posted By: Johnny
$2.80 for regular here yesterday. It's going to go way up again. I heard on the news yesterday the speculators were at it again. I thought they ran those bums out of town.



Speculators! Cannot believe people get paid good money to "speculate". They are the problem! I'm with you Johnny! I thought they were run off!
Goldman Sachs run off? they own all the important stuff!!!
 
Originally Posted By: Ursae_Majoris
$3.26 up here. We have not seen anything below $3.00 in a year.
Our own in-state oil, our own in-state refineries. Ridiculous.
We are the ultimate consumers.
 
elwaylite,

Shell "V-Power" is the most expensive gas around! Here what I just saw on my way home in my local area:

Regular: $3.67/gallon

Midgrade: $3.77/gallon

Premiun: $3.89/gallon

All you guys do yourself a favor. Don't move here ever. The dumbest thing is people are actually buying his [censored]

Durango
 
Yeah, the 93 V-power is what cost me $2.95. Bama is pretty cheap, but South Carolina was the best. North Carolina sucks.
 
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It's hard to say why this guy is just nickle and diming everyone for every cent possible. What and why Shell doesn't do anything about it is even more wierd. Oh well I jus won't buy their gas as the discussion about their Nitrogen based gas is just another gimmick to drum up business. Heck I'll buy ARCO and toss in a bottle of Techron every other month and be done with it.

Durango
 
elwaylite,

Perhaps what you said may be true but I can go buy gas from Chevron or Unocal 76 and get the same quality gas with the same add package for a MUCH lower price. I mean I can get Chevron/Unocal 76 for an easy 25 cents lower compared to Shell.

Durango
 
Same quality, not same add pack. I'm not justifying the price, but a tribologist in the know recommends Shell over any other, right now (always changing, just like oil), so it's my first choice regardless of price. Chevron is always the backup in case there is not a Shell, because I know Techron is awesome too.
 
I am surprised that gas costs $3.28 in Alaska. I guess when state sends thousands of dollars of checks to every resident, the money has to come from somewhere :)

- Vikas
 
The little train went up the hill saying," I think I can, I think I can..".
The oil copmanies say, "We KNOW we can, we KNOW we can...'.
 
eh, they are just jacking the prices up because it is now tourism season. People are out of school for spring break and traveling in mass. It will probably go back down in April and start the summerly incline in the beginning of May, once again when people start traveling/get out of school.

That's just my opinion though.
 
Originally Posted By: Vikas
I am surprised that gas costs $3.28 in Alaska. I guess when state sends thousands of dollars of checks to every resident, the money has to come from somewhere :)

- Vikas

You do not have a clue what PFD is do you???
Read up first before running your mouth off. PFD checks come only out of PFD fund earnings, tied to a 5-year average performance. PFD principal is in the constitutionally protected account (Feds could learn from it as far as Social Security goes). It just so happens that our State Constitution was set up by smarter/business savvy people than a lot of Lower 48 Constitutions. PFD amount is not guaranteed, I've seen it as low a couple of hundred dollars. And we do pay taxes on it.

Do not even go to a "bridge to nowhere". Feds locked up 97% of the Alaskan land in one nature/oil/spotted owl preserve or another. Take off the handcuffs and let us develop our own economy, we won't need the pork. If Lower 48 politicians deny us the right to economic development, then they have to support Alaska financially.
 
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Regular here is $2.89 at the Gulf/Cumberland farms I fill up at. Most others are about $2.93 a gallon.. It's ridiculous. Gas was doing just fine down at $1.85 or whatever it was last year.
 
The independent station/convenience store where I've been gassing up for nearly a year has had the best price and has given me the best mpg of any I've tried. Their prices are still close to the lowest in the area, but now they proudly display "Contains up to 10% ethanol" on the pumps.

So, if all the pumps in town will cost me 10% of my mpg, I'll buy on price, even if that means Walmart. (And it costs me a lot to have to say that, folks.)
 
$2.93 in Portland, OR.

A few things to consider about gas prices...
-Fed and state tax adds to the wholesale gas price
-Oil as a commodity is a hedge against inflation/currency volatility
-Investors/ or as many of you think- "speculators" serve important purposes- gauaranteeing future cash flows to provide a product/service.
-Anticipated for the next two years: high unemployment, Higher future tax rates on businesses/capital, high defecit spending, potential drop in US credit rating, etc... makes gold/oil/all commodities more attractive for investment.
-China is absolutely booming, their energy needs coincide.

So it's not just Mobil,Shell,BP,Devon, etc... wanting to take us all to the cleaners. 8% profit margins last year for oil/gas companies. 6% is the average over various industries. Food & Beverage is 8.25% & Software Services is around 10%- just for some perspective.

If you want in on the profits, buy a 'energy' related mutual fund.
 
Average regular in Irvine, CA is $3.15.

In California we pay Federal and state gas tax, then we pay 8.75% sale tax on the total wholesale price after adding the Federal and state gas tax (we pay sale tax on the gas taxes).

Profit margin, these major industries have much higher margin than oil industry, about 30 industries has 10% or higher profit margin:

Drug Manufacturers - Major: 22.2%
Application Software: 20.6%
Cigarettes: 19.2%
Internet Information Providers: 18.7%
Long Distance Carriers: 15.1%
Networking & Communication Devices: 14.4%

In the oil industries, the one make the most money is Oil & Gas Drilling & Exploration at 12.8%, and Oil & Gas Refining & Marketing makes the least money at 2.1%. That why some oil companies are thinking to close some refineries.

Source: http://biz.yahoo.com/p/sum_qpmd.html
 
My economics is rusty. I thought profit margin refers to increase in profits in dollars for $100 increase in sales. It is strongly tied with the variable cost of producing the product and NOT related with the fixed cost.

"Application Software: 20.6%"

Does not compute :-( That industry has very high margin but huge fixed cost; software engineers are not cheap but stampings CD's or letting user download the software is peanuts :)

- Vikas
 
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If it jumps towards the big four bucks a gallon again then it's back to Cosco gasoline again.

Keep checking the price per barrel of oil as the last tie I heard it was around $82 and change. Remember what Newsweek magazine said.....$80/barrel is the thress hold.

Durango
 
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