How much is gasoline in your area?

[FL Guy]

The reason that they charge $X.5x/gal for gasoline that they paid $X.2x/gal is that they will may have to fill their tanks @ $X.6x/gal(retail). It's a cash flow balancing game.

I understand what you're saying, but the $X.2x/gal they paid for the "inventory" of gas they have in their tank is essentially the COGS (Cost of Goods Sold) for the gas when they sell it for $X.5x/gal. If the next time they fill their tanks the price is $X.6x/gal, they will immediately begin charging $X.8x/gal for the gas just loaded into their tanks, plus the "inventory" of gas in the tank they only paid $X.2x/gal for. On the other side, when their "inventory" is predominately gas they paid $X.6x/gal and gas added to their tank only costs them $X.2x, they'll continue charging $X.8x/gal until any tank "inventory" they paid $X.6x/gal is essentially depleted. They always try to justify an immediate increase when supply gas costs raise based on the premise that their cost to replace the "inventory" will be higher, the reality is that the "inventory" they are selling until they buy more, they only paid $X.2x/gal for, and they're charging $X.8x for it. It likely never works out the opposite when supply costs are decreasing, at least not at the same expediency that the increases affect the selling price.

 

[PigsDad]

$3.49 today in SW FL at my local Raceway. Last week is was $3.05.

Kurt

 

[pedro47]

Gasoline this morning at Seven Eleven in North Suffolk,Va was $3.39 per gallon. I guess the gasoline tanker truck brought a new full tank of gasoline before 6am this morning. Someone is making a nice profit. IMHO.

Three weeks ago the United States had more oil companies refining oil. What happened to all the oil company’s that were pumping oil out of the ground.

My major problem is the cost of gasoline is cheap. It is all the added various federal taxes that rises the costs per gallons.

 

[Sugarcubesea]

$3.59 a gallon in the Metro Detroit Area, an increase of 44 cents a gallon

 

[Tia]

$3.79 for 87 octane western CO , up 50¢ this week.

 

[TheHolleys87]

Around my house in suburbs north of Houston, $3.00-3.30 today. Was in the mid $2s last week.

 

[andre10056]

It likely never works out the opposite when supply costs are decreasing, at least not at the same expediency that the increases affect the selling price.

When supply costs decrease and they're able to load up on unlimited amounts of gas at cheaper prices, they'll still claim that now nonexistent "supply chain disruptions" are continuing to drive up their prices. And do so for as long as they can.

 

[PigsDad]

$3.49 today in SW FL at my local Raceway. Last week is was $3.05.

Kurt

And $3.59 today, one day later. Going up a dime a day, this could get interesting!

Kurt

 

[PigsDad]

When supply costs decrease and they're able to load up on unlimited amounts of gas at cheaper prices, they'll still claim that now nonexistent "supply chain disruptions" are continuing to drive up their prices. And do so for as long as they can.

Where do they store that "unlimited amounts of gas at cheaper prices"? And who is "they" referencing here?

Kurt

 

[TheTimeTraveler]

And $3.59 today, one day later. Going up a dime a day, this could get interesting!

Kurt

I wonder if the new car auto dealers are seeing a sudden surge of electric or hybrid vehicle purchases because of the sudden hike of fuel prices ?














.

 

[jeffox]

Even the cheap place that we drive by on the way to the grocery store, that got down to $2.19 a couple weeks ago was up to $3.29 today.

 

[emeryjre]

The commodity trading markets are open for the new trading week
Oil futures are up $15 a barrel from the close Friday night
Trading around $108 a barrel
We will not see lower gasoline prices soon

 

[billymach4]

We have nothing to complain about.

 

[Brett]

We have nothing to complain about.

OK. I suppose the electric cars owners in China also have nothing to complain about


.

 

[PigsDad]

We have nothing to complain about.View attachment 122949

A little different answer, but on the same line:

So gas is more expensive, even considering inflation, than in 1970.

Kurt

 

[emeryjre]

I expect to see $7.50 here. I don't expect any grown ups.

It is a shame they never figured out how to make inexpensive hydrogen

 

[ScoopKona]

It is a shame they never figured out how to make inexpensive hydrogen

The local bus runs on hydrogen. But since the refinery is publicly funded, they won't sell me any. I asked and got a hard no. I went to where they're extracting it and got an even harder no. (Basically, "stop asking, this isn't happening.") And the dot-com dude who promised a station has pulled his website (which was always just "coming soon." And he lives way out in the boonies anyway.

So my strategy is "don't drive whenever possible."

 

[emeryjre]

Hydrogen is the Elon Musk of the "green fuels"
It will be here by the end of the
week,
month,
year,
decade

 

[billymach4]

A little different answer, but on the same line:

View attachment 122956

So gas is more expensive, even considering inflation, than in 1970.
Kurt

$2.80 at Costco Still within range.

 

[andre10056]

$2.80 at Costco Still within range.

That's pretty good. My BJ's is now at 3.05, 44 cents more than the 2.61 of exactly one week ago as per my post #209 above.

 

[CO skier]

For clarification, the maximum charging rate for a typical EV is 350 kW, meaning a "full charge" from "near empty" will take about 30 minutes, at best -- not "near-instant" -- regardless of the supply "megawatts."

Imagine if you had to sit behind a charging car at Costco for 10-30 minutes versus about 5 minutes at the gasoline pump now. Not to mention the more than TWICE as many 10-30 minute "EV" fill-ups versus the 500+ mile range of a full tank of gasoline.

 

[pedro47]

The barrel price of oil have increased from $53 per barrel to over $114 per barrel in less than two (2) weeks.

 

[Roger830]

So gas is more expensive, even considering inflation, than in 1970.

Kurt

The gasoline is more expensive but vehicles get much better mileage thus making the cost to drive 100 miles much lower now then in 1970.

Currently the extraction of oil is more costly which makes the low cost that we were paying a bargain even though there are an excessive number of large low mileage vehicles on the road. Years ago the federal government should have put a $1 of more tax on gasoline to discourage consumption so that there would be less demand now.