Gas drops $0.30/gallon today
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The total drop over the last week or so would be in line with a $15/barrel drop in oil. We were paying 3.899 last week. It dropped to $3.699 and is now down to $3.389, all in the last 10 days give or take.
I love it...oil hints and going up and gas prices seem to anticipate it...but it goes down and it takes quite a while to register....then the gas companies come up with the excuse of "well the bulk gas we have in our inventories were bought at a higher price so..blah blah" The argument only seems to go one way...in their favor..
Ahhh, got to love collusion....
Ahhh, got to love collusion....
In NW Arkansas it went from $3.54 to $3.40 a gallpn.
I don't begrudge any of them the price they get. If I don't like it, I simply use less.
Patman
Staff member
Originally Posted By: eljefino
If you look at the $3000 you pay for gas in a year the gas station owner probably paid $2985 for it.
His profit is an annual harvest. Is it harvest time?
You have to factor in the cost of replacement when you retail something.
It's not the gas station owners that are making money though, I know they only make pennies on the gallon. They actually make more profit from selling cigarettes and chocolate bars and car washes than they do from selling gasoline.
It's the wholesaler that they buy the gas from who makes a killing though! They are the ones we need to get angry with!
If you look at the $3000 you pay for gas in a year the gas station owner probably paid $2985 for it.
His profit is an annual harvest. Is it harvest time?
You have to factor in the cost of replacement when you retail something.
It's not the gas station owners that are making money though, I know they only make pennies on the gallon. They actually make more profit from selling cigarettes and chocolate bars and car washes than they do from selling gasoline.
It's the wholesaler that they buy the gas from who makes a killing though! They are the ones we need to get angry with!
Usually the gas station owners make somewhat 11 percents off the fuel back in $2-3 price range, it can't be that much more now. Most of their profits are from the side businesses like auto repair, vending, fast food, etc.
Refinery also doesn't make too much, slightly more than gas station but not too much either.
Most of the profit is exploration and drilling. That's why when people pull out graphs that said gas company only make 11% they are talking about gas station or refinery, but forgot to mention that the drilling and pumping because they assume it is made from an entirely different business. They are assuming that they are buying fuel from OPEC (but with the help of big oil they are also making a fraction) but a lot of them are also from non OPEC production (off shore platform, Alaska, Canada, etc), that's where they make the most $ from.
Refinery also doesn't make too much, slightly more than gas station but not too much either.
Most of the profit is exploration and drilling. That's why when people pull out graphs that said gas company only make 11% they are talking about gas station or refinery, but forgot to mention that the drilling and pumping because they assume it is made from an entirely different business. They are assuming that they are buying fuel from OPEC (but with the help of big oil they are also making a fraction) but a lot of them are also from non OPEC production (off shore platform, Alaska, Canada, etc), that's where they make the most $ from.
On Friday it was $3.55 per gallon CASH. Today my local station is $3.43 CASH price. 12 cent price drop isn't to shabby. I never fill my car(throw in 40 bucks every week and a half / 2 weeks. I average about 250-270 miles(usually 60+ to fill up the Bu).
Based on the comments here so far, this is a YMMV and I'd say very isolated situation. The one in NJ with $0.12 drop while notable, clearly isn't close to the title of this thread.
My title would be, gas prices, still getting bent over here.
And someone commented aboutbenevolent oil speculators at work again. Is there any reason other than speculation, and short selling, because of the recent global economic outlook and coincidental stock market drop for a five day $15 drop in crude prices? And, while the speculators can make money with a move in crude up or down, based on this thread, clearly for most it hasn't translated to an equal drop in gas prices.
And so it goes.
My title would be, gas prices, still getting bent over here.
And someone commented about
And so it goes.
As of yesterday no drop in prices around here. A good price for gas is about $3.91/gallon for regular. Still a major rip off!
Originally Posted By: demarpaint
As of yesterday no drop in prices around here. A good price for gas is about $3.91/gallon for regular. Still a major rip off!
Same here - as a matter of fact when the wife and I went out to eat last night I noticed the price had gone up at most stations about .04 - .06 a gallon.
As of yesterday no drop in prices around here. A good price for gas is about $3.91/gallon for regular. Still a major rip off!
Same here - as a matter of fact when the wife and I went out to eat last night I noticed the price had gone up at most stations about .04 - .06 a gallon.
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Originally Posted By: demarpaint
As of yesterday no drop in prices around here. A good price for gas is about $3.91/gallon for regular. Still a major rip off!
My neighbor who commutes up to Rochester every day said that gas up there was in the $3.60ish range. I wish some of those prices would come down our way.
As of yesterday no drop in prices around here. A good price for gas is about $3.91/gallon for regular. Still a major rip off!
My neighbor who commutes up to Rochester every day said that gas up there was in the $3.60ish range. I wish some of those prices would come down our way.
Just filled up with 3.77 this morning.
Patman
Staff member
Gas in Toronto went from 123.2 cents per liter yesterday to 122.7 today, but now at midnight the stations will be raising their price to 125.9! That's a 12 cent per gallon jump!
Our prices are strange around here, 98% of the stations in Toronto and the surrounding suburbs all have the exact same price, and then there is a very small number of independent stations which will be priced 10-15 cents per liter less and a small number of others priced 1-3 cents higher. They say there is no collusion going on, but when 98 out of 100 stations are the exact same price, they are obviously up to something....
Our prices are strange around here, 98% of the stations in Toronto and the surrounding suburbs all have the exact same price, and then there is a very small number of independent stations which will be priced 10-15 cents per liter less and a small number of others priced 1-3 cents higher. They say there is no collusion going on, but when 98 out of 100 stations are the exact same price, they are obviously up to something....
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