Yeah, well I hope your investments take a nose dive for the good of the economy...high oil/gas prices are never good for the economy...
Gas Prices Are Going Up
- Thread starter BlueOvalFitter
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It seems every time I drive by a gas station the price has gone up another 10 cents. And on top of that, there is this:
"During Pete Buttigieg’s confirmation hearing in the Senate Commerce, Science, and Transportation Committee, Florida Sen. Rick Scott asked him if he would support increasing the federal gas tax, which is currently charged to drivers in addition to state gas taxes. The current federal gasoline tax is 18.4 cents per gallon.
“I think all options need to be on the table, as you know, the [federal] gas tax has not been increased since 1993, and it has never been pegged to inflation, and it’s one of the reasons why the current state of Highway Trust Fund is that there’s more going out than coming in,” Buttigieg replied. “In the long term, we need to bear in mind also that as vehicles become more efficient and as we pursue electrification, sooner or later, there will be questions about whether the gas tax can be effective at all.”
A vehicle miles traveled (VMT) tax system should be considered as a potential replacement for the gas tax, Buttigieg added."
"During Pete Buttigieg’s confirmation hearing in the Senate Commerce, Science, and Transportation Committee, Florida Sen. Rick Scott asked him if he would support increasing the federal gas tax, which is currently charged to drivers in addition to state gas taxes. The current federal gasoline tax is 18.4 cents per gallon.
“I think all options need to be on the table, as you know, the [federal] gas tax has not been increased since 1993, and it has never been pegged to inflation, and it’s one of the reasons why the current state of Highway Trust Fund is that there’s more going out than coming in,” Buttigieg replied. “In the long term, we need to bear in mind also that as vehicles become more efficient and as we pursue electrification, sooner or later, there will be questions about whether the gas tax can be effective at all.”
A vehicle miles traveled (VMT) tax system should be considered as a potential replacement for the gas tax, Buttigieg added."
Already that here. I saw the prices on Tuesday as we did our shopping. The prices have jumped about 20¢ in a week.
Just paid $3.99 for 91* at a big Safeway store. These stations are generally cheaper than anyone but Costco.
The price may be the same, but you pay 10 cents more for using your credit card.
The price may be the same, but you pay 10 cents more for using your credit card.
Yeah, South Shore has some really high prices. That Chevron at Ski Run and 50 and the two in Meyers are always $1 higher than Carson Valley.
$2.84 today for 87 Mobil in Miami.
Oddly, the E0 87 at the Exxon convenience store near me was only .02 more than the E10 -- $2.49 vs. $2.47. Then I get .06/gal. off for using my Exxon card.
AutoMechanic
Site Donor 2024
$2.69 for regular, $2.89 for mid grade, $3.09 for premium here. I hate paying $2.89 for gas and that’s at Sam’s Club and BJ’s which have the cheapest gas.
It sounds like you are familiar with the difference that you mention between the oil industry and everyone else. If so, please explain why the oil industry can avoid the law of supply and demand in a global marketplace?
Zee09
$200 Site Donor 2023
Several stations here are $2.73 for 87 but 89 is either the same price or only 10 cents more and
93 is $2.91
So lately i have been filling up on 89-why not?
93 is $2.91
So lately i have been filling up on 89-why not?
Because they control supply, and strictly control prices. While out driving around today I noticed that EVERY gas station I passed by in my local area had a price of $2.79...not one one of them was even a penny different in price, and this price went up 35 cents a gallon overnight. That's a 13% price increase overnight. What other industry gets away with this?
The retail gasoline market is extremely competitive. If the government didn't require gas stations by law to post their prices on a sign out in front of each gas station there would probably be a wider difference in prices. Since prices are posted at the street it is easy to see a competitor's pricing.
Gas stations try to match (or beat by a few cents per gallon) each others' gas prices.
Gas stations make very little money (if any) on gasoline sales. They make their money selling items in the convenience store.
Crude oil: $65.91 per barrel = $1.57 per gallon. Only about 40% to 45% of a barrel of oil can be converted into gasoline.
RBOB (Reformulated Base for Oxygenate Blending) gasoline = $2.15 per gallon.
Crude transformation to gasoline requires refining along with pipeline, ship, truck transportation.
Very capital intensive.
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