My Friend Was Held Up Yesterday

That is the Chicago mercantile traded price of gasoline in USD. It provides basis of what the retail price at the station becomes after adding transportation costs, marketing cost, all taxes and profits.
So that is wholesale gas prices? My gas in Minneapolis has been at $3.00+ for the last 4 years. I was always commenting on hearing cheaper gas prices and would say NOT HERE. The cheapest I saw in the last year was $2.85 for a couple of days and then shot over $3.00 again. I assume Chicago would be so close to Minneapolis pricing since both tax the heck out of fuel. This raise in prices is almost moot, as it was always in the $3.00+ range.
 
For sure, but it's actually about the same price as my home electricity rates (even sometimes CHEAPER) plus a car that goes 0-60 in 4.9 seconds won't get 30mpg. I mean the cloest thing off the top of my head is the Mustang EcoBoost but it gets less than 30MPG if you drive it anywhere near what it takes to accelerate quickly. Plus our gas prices are $5+ and that Mustang would take premium which is like $6/gallon.
I've got a couple off road toys that are in the 3.5-5s 0-60 range, which is fun, but not a requirement for me getting around on public roads. I'm more interested in 10.9s 0-60 wagon that gets 40+mpg...
 
So that is wholesale gas prices? My gas in Minneapolis has been at $3.00+ for the last 4 years. I was always commenting on hearing cheaper gas prices and would say NOT HERE. The cheapest I saw in the last year was $2.85 for a couple of days and then shot over $3.00 again. I assume Chicago would be so close to Minneapolis pricing since both tax the heck out of fuel. This raise in prices is almost moot, as it was always in the $3.00+ range.
Well, the traded price from the graph was pretty consistently at $2 to $2.50 since 2003, coming down to $ 2.00 since the beginning of 2005. What about Minnesota and Minneapolis taxes. Could it be the taxes very depending on the traded price?
 
Yes but that was before they announced release from the SPR. Today’s prices are after release. You ain’t seen nothing yet.
Exactly. I have seen gas price quadruple in less than a year.

Which would put us over $12/gallon if we use gas prices a month ago as a starting point.
 
Having lived through 1973/1974, this has been a cakewalk!
How true! I remember hour long gas lines, dollar limits, and fill days allowed based on your license plate number. I worked in a lab at the time and was extending my gas by pouring mixtures of hexane and toluene in my tank just to get home. I had to rebuild that carburetor when it was over.

Plenty of gas available now, just at a higher price.
 
How true! I remember hour long gas lines, dollar limits, and fill days allowed based on your license plate number. I worked in a lab at the time and was extending my gas by pouring mixtures of hexane and toluene in my tank just to get home. I had to rebuild that carburetor when it was over.

Plenty of gas available now, just at a higher price.
We didn’t have a strategic petroleum reserve back then. Nor was there much demand in China. Wait till the world’s spr is emptied out. It won’t take long.
 
This hasn't even hit 2008 yet.. and back then 4$+ a gallon was alot more
considering spending power to the $$$

While in general gas is up maybe 70cents there are still deals out there.
I got 30 gallons of top tier 87 yesterday for $3.25/gal before shenanigans with perks and such.
 
And the joke just isn’t funny for those who have perspective, or remember history as recently as 4 years ago. Gas prices have recently been higher, and adjusted for inflation, much, much higher.
 
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