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While I am glad the price of oil is finally back to where it should be.....

bbodb1

bbodb1

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...I hope we still have the sense of purpose to continue to sensibly reduce our dependence on oil so we NEVER see the price of gas above $1.50 ever again.

i found gas for $1.24 the other day - of course, the price is lowest in 30 (or more) years when we need it the least......but still, I hope we get to a point where we can never be held hostage by the oil companies and the oil producing countries ever again.

Shall we play a game?

What is the best price of gas near you these days?
 
$ .95

(I don't know about anyone else but I heard "Shall we play a game?" in the voice from War Games)
 
One must remember that each gallon of gasoline is taxed. Those taxes do not go away. It varies state by state. In Texas, the combined state and federal gasoline taxes were 59.5 cent a gallon.

I have seen retail gas prices here at as low as $1.14 a gallon. That puts the price of the actual gas at $.55 cent a gallon. How low do you actually want it?
 
Just checked Gas Buddy (since I haven't been out of the house). Gas is still around $2.80-ish per gallon in my area (inland Southern California). If I were driving, I'd be very upset about that.
 
Ralph Sir Edward said:
One must remember that each gallon of gasoline is taxed. Those taxes do not go away. It varies state by state. In Texas, the combined state and federal gasoline taxes were 59.5 cent a gallon.

I have seen retail gas prices here at as low as $1.14 a gallon. That puts the price of the actual gas at $.55 cent a gallon. How low do you actually want it?
Click to expand...

Good point.

I think the sad thing here is that people aren’t driving at the moment and we have a glut. Yes, this is very good for the environment. However, this also means millions of people out of work and in no need to travel. I would rather there be consumption and people earning paycheques and having a life outside of home. If the price is higher to achieve this, I am fine with it.

Yes, I see the rise of other transportation options like Electric vehicles but transportation modes like aircraft are far from utilizing other energy options like electricity. Again, it is better for the environment.

I guess we can call the low gas prices a celebration that carries many sagas as a byproduct of that price.


Sent from my iPad using Tapatalk
 
$2.35 My full tank is going to last a while.
 
The actual price of gasoline per gallon is very low to the consumer. You are paying federal, state taxes and city taxes on a gallon of gasoline..
Information source: U.S. Energy Information Admin.
Gasoline the average Federal Tax is 18.40 cents per gallon
Gasoline the average State Tax is 29.76 cents per gallon
Total in taxes is 48.16 cents per gallon

Diesel the average Federal Tax is 24.40 cents per gallon
Diesel the average State Tax is 31.78 cents per gallon
Total in taxes is 56.18 cents per gallon
 
Last edited:
Ralph Sir Edward said:
One must remember that each gallon of gasoline is taxed. Those taxes do not go away. It varies state by state. In Texas, the combined state and federal gasoline taxes were 59.5 cent a gallon.

I have seen retail gas prices here at as low as $1.14 a gallon. That puts the price of the actual gas at $.55 cent a gallon. How low do you actually want it?
Click to expand...
pedro47 said:
The actual price of gasoline per gallon is very low to the consumer. You are paying federal, state taxes and city taxes on a gallon of gasoline..
Information source: U.S. Energy Information Admin.
Gasoline the average Federal Tax is 18.40 cents per gallon
Gasoline the average State Tax is 29.76 cents per gallon
Total in taxes is 48.16 cents per gallon

Diesel the average Federal Tax is 24.40 cents per gallon
Diesel the average State Tax is 31.78 cents per gallon
Total in taxes is 56.18 cents per gallon
Click to expand...

Those are indeed fair points to remember here - as I live in Arkansas (where the heaviest trucked interstate in America runs through), we definitely have to keep fuel taxes in mind otherwise our roads would be in much worse shape. One issue we in that regard is that trucks can cross Arkansas without refueling so we tend to get a LOT of road ware without a corresponding tax stream (from refueling) in which to maintain the roads. I can't speak to exactly what the state has done to address that, but our interstates have had a considerable amount of attention over the last few years - which is good for all who travel the roads.

I do like where the price of fuel is NOW compared to the days of nearly $4 per gallon gas!

Our state taxes are currently 24.5 cents per gallon on gas while diesel is taxed at 28.5 cents per gallon, so using Pedro's numbers, Arkansas is taxed somewhat below the average but Arkansas is below average on wages as well.
 
Costco regular in Central Washington is about $2.00 today.

Bill
 
7a66ed07e66c9c9680dac75f36b60bac.jpg

Huh? I guess next fill you are going in to get PAID to fill up your tank?

I’m speechless.


Sent from my iPad using Tapatalk
 
Fredflintstone said:
Good point.

I think the sad thing here is that people aren’t driving at the moment and we have a glut. Yes, this is very good for the environment. However, this also means millions of people out of work and in no need to travel. I would rather there be consumption and people earning paycheques and having a life outside of home. If the price is higher to achieve this, I am fine with it.

Yes, I see the rise of other transportation options like Electric vehicles but transportation modes like aircraft are far from utilizing other energy options like electricity. Again, it is better for the environment.

I guess we can call the low gas prices a celebration that carries many sagas as a byproduct of that price.


Sent from my iPad using Tapatalk
Click to expand...

@Fredflintstone - I agree with the point about people getting back to work - I hope we get there as soon as safely possible. If our prior history has taught us anything, periods where the price of fuel has markedly dropped for prolonged periods have often meant our attention (and motivation) to be more fuel efficient declined as well. I would sure like to see this drop be different and see us continue to push forward on the development of better (cleaner, cheaper) fuel sources.

When we bought our last vehicle in 2017, I was toying around with the idea of purchasing a hybrid. In the end, I purchased a Honda Fit (was is a very low emissions vehicle that gets just short of 40 MPG) because the cost of hybrids at that time was still too high to make fiscal sense. I hope progress in that area since then is narrowing the price difference between the vehicle types.
 
I paid $2.95/gallon for the cheap stuff a couple days ago. I felt like I won the lottery. To me anything less than $3.00/gallon is a steal. I guess we have a lot of extra taxes in California.
 
$1.77 for regular today here in vermont.
 
Fredflintstone said:
7a66ed07e66c9c9680dac75f36b60bac.jpg

Huh? I guess next fill you are going in to get PAID to fill up your tank?

I’m speechless.


Sent from my iPad using Tapatalk
Click to expand...

And the answer is no because they can't find any buyers for that negative priced oil for May delivery because no one has any storage for May delivery. What an upside down world we have right now.
 
This low gas price won't do the sale of EVs or even hybrids any favors. 'Course, judging by the car ads on TV, cars in general aren't selling. In the current economy, I wouldn't like staring down a car payment. Especially with nowhere to go.

Jim
 
Fredflintstone said:
However, this also means millions of people out of work and in no need to travel. I would rather there be consumption and people earning pay cheques and having a life outside of home. If the price is higher to achieve this, I am fine with it.
Click to expand...

I'm with you here but I am biased. My Son just got laid off from a good job fracking in the Permian in West Texas and New Mexico...

George
 
The airlines need to use some of their bailout money to purchase contracts and not put a fuel surcharge on our flights when we are able to travel.
 
All good points.

Yes, there are no buyers except those with gas tanks. I can’t ever remember a time where we have so much oil, we don’t even know where to store it. Wow.

Living in Canada, the lowest price I remember was .69 a gallon at the age of 5. Right now, we are at .51 a litre or about 1.90 a gallon. Most of that is taxes just like the US.

George, I live in Alberta, Canada. We are an oil province. Sorry to hear your son got laid off. Here in Alberta, we are at 25 percent unemployment and that’s an estimate. I am surrounded by unemployed neighbors. Many of them are barely hanging in financially. I know the pain is felt everywhere. It doesn’t make your sons situation better but I do believe once this is over, people will be consuming like crazy after being couped up. I, for one, can’t wait to get booked in a flight and will enjoy watching the Jet filled up.

My son did the same thing. He also bought a Honda Fit because he couldn’t justify the difference between a hybrid and the fit. Electric vehicles are coming down slowly in price but it will still be some time before they are priced right. The other issue is the time it takes to build a stronger electric grid to handle the added demands for electric vehicles. Some states still have brown outs, especially in California. Imagine what would happen if we add Millions and millions of electric cars plugged into the mix.

Frankly, everything that is going on makes absolutely no sense to me. A stock market relatively stable on little to no revenue in most businesses. Oil futures at negative. Money just flowing like water. In a way, these are great times to live just to see how this drama all ends up.


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How long can you keep gasoline in a container before it's goes bad?
 
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