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Offline Marlelar

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Gas prices soaring
« on: March 30, 2018, 01:38:00 PM »
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  • In the last 3 weeks or so my closest gas station has gone from $2.21 to $2.53. I’m in Phoenix area.  What is it like where you live?

    I’ve been told it is because of Russia and China agreeing to use a pertoyuan rather than the petrodollar. 

    Offline songbird

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    Re: Gas prices soaring
    « Reply #1 on: March 30, 2018, 08:07:32 PM »
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  • In 1980, the USA gas prices were $1. a gallon, for the military stationed in Germany, at that time it was $2. a gallon and rationed.


    Offline Last Tradhican

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    Re: Gas prices soaring
    « Reply #2 on: March 31, 2018, 12:45:39 PM »
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  • This is the way I figure everything having to do with cost today based on my "having been there" memory :

    In 1968 to 1973, regular gas was $0.25 per gallon. Then it soared to $0.75. Today let's say gas is $2.50 p/gal . That's a 10x price increase from 1968. That is the low

    In 1968 my Dad bought our house for $60,000. We do not live there anymore, but today the house is worth $3 million. That's an 50x price of 1968. That is the high

    In 1968 a house in another less unique neighborhood nearby was $20,000. Today it would cost $300,000. That's an 15x price of 1968

    In 1968 you could buy a new Ford Maverick for $2000. Today a similar car would be like $25,000. That's an 12.5x price of 1968

    I made $35,000 a year in 1980. If I still had the same position today, I'd be paid maybe $50,000. That's a 1.5x income increase

    The problem is not that gas prices are high, the problem is that inflation has hidden the fact that we are being paid today in inflated dollars. Our salaries should have gone up at least 10x.

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    Offline Marlelar

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    Re: Gas prices soaring
    « Reply #3 on: March 31, 2018, 02:19:27 PM »
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  • I got my first job in 1974 and self serve was .19/gal and my job paid .75/hr, using an inflation calculator that translates to gas being .88/gal and minimum wage to 3.47/hr in 2018.

    Hmmmmm. Guess Uncle Sam is not telling us something. 

    On the other hand in 1974 I was paying 25% of my hourly wage for a gallon of gas and where I am now minimum wage is 10.50, so the ratio is holding, at least for this week!

    But I’m still wondering what gas prices are in other parts of the US.

    Offline DirigeNos

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    Re: Gas prices soaring
    « Reply #4 on: March 31, 2018, 05:56:13 PM »
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  • Around this time of year (in about a month) we see a sudden jump in gas prices because we switch to summer blend gas from winter blend gas. Summer gas has chemical agents in it that prevent evaporation and reduce emissions during the hotter times of the year. Also, summer sees more travelers, increased gas sales, and as demand goes up, prices also go up. If you're in Phoenix, however, I would think that you already have the "summer gas" because you have temps in the 80s and 90s already. We are still in the 50s/60s. P.S. Our gas prices are $2.89 right now.


    Offline Emitte Lucem Tuam

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    Re: Gas prices soaring
    « Reply #5 on: March 31, 2018, 06:31:27 PM »
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  • In North Carolina,  gas prices are, as of 3/31/18, at $2.49 a gallon.  Not bad, since I can still fill up my Chevy Spark to a full tank with slightly under $20.  $20 gives me 350 miles.

    Offline MaterDominici

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    Re: Gas prices soaring
    « Reply #6 on: March 31, 2018, 11:38:05 PM »
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  • The lowest here right now is $2.25 ... up about 15c in the last six weeks.
    "If I could only make the faithful sing the Kyrie, the Gloria, the Credo, the Sanctus and the Agnus Dei ... that would be to me the finest triumph sacred music could have, for it is in really taking part in the liturgy that the faithful will preserve their devotion. I would take the Tantum ...

    Online Neil Obstat

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    Re: Gas prices soaring
    « Reply #7 on: April 01, 2018, 04:36:51 PM »
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  • .
    Here in L.A. CA, prices are rising close to $4 a gallon. Soon I expect to see $5. I see big name stations (Mobil, 76 Union, Shell) at $3.50 to $3.80 for Unleaded and up to $3.98 per gallon for premium in the San Fernando Valley, San Gabriel Valley and Orange County. I haven't seen any prices higher than that but if I were to go through Beverly Hills or Brentwood I'm sure I'd see it over $5 a gallon. There are some stations in such expensive neighborhoods, that offer full service so you don't have to get out of your car, at easily twice the normal rate, so that would be about $8/gal. these days.
    .
    Costco generally offers the cheapest price, at or less than private stations that charge the least. Plus, you have to use your Costco membership card at the pump to buy gas with a Visa card (pump requires both cards, first one then the second card) and at the end of the year you get a 2% refund on all your purchases. Their Unleaded (87 octane) price right now is 3.299/gal and then you get back 2% of that or 0.066 per gallon, making it net $3.23/gal. That's less than the cheapest stations which are presently $3.28/gal. You save around 5 cents a gallon at Costco, but you get to wait a year for the nickle AND you get to wait in line behind 7 or 8 cars in any one of 6 lanes, 12 pumps (50 cars waiting for gas at each Costco, takes up to 12 minutes).
    .
    We recently endured another state gas tax, this one with an excuse to repair roads. Duuuh. There is ALREADY tax money supposedly collected to repair roads but they manage to spend it on something else. So there's nothing protecting this new tax from being spent otherwise too. More Communism.
    .
    Before the new gas tax kicked in, Costco was at $3.069 (less 2% in 12 months). So the tax raised it 23 cents a gallon.
    .
    When I see the vastly cheaper prices for gas in other states, I think, "You guys complain but you don't know how good you have it."
    .
    .--. .-.-.- ... .-.-.- ..-. --- .-. - .... . -.- .. -. --. -.. --- -- --..-- - .... . .--. --- .-- . .-. .- -. -.. -....- -....- .--- ..- ... - -.- .. -.. -.. .. -. --. .-.-.


    Offline Emitte Lucem Tuam

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    Re: Gas prices soaring
    « Reply #8 on: April 01, 2018, 07:13:25 PM »
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  • .
    Here in L.A. CA, prices are rising close to $4 a gallon. Soon I expect to see $5. I see big name stations (Mobil, 76 Union, Shell) at $3.50 to $3.80 for Unleaded and up to $3.98 per gallon for premium in the San Fernando Valley, San Gabriel Valley and Orange County. I haven't seen any prices higher than that but if I were to go through Beverly Hills or Brentwood I'm sure I'd see it over $5 a gallon. There are some stations in such expensive neighborhoods, that offer full service so you don't have to get out of your car, at easily twice the normal rate, so that would be about $8/gal. these days.
    .
    Costco generally offers the cheapest price, at or less than private stations that charge the least. Plus, you have to use your Costco membership card at the pump to buy gas with a Visa card (pump requires both cards, first one then the second card) and at the end of the year you get a 2% refund on all your purchases. Their Unleaded (87 octane) price right now is 3.299/gal and then you get back 2% of that or 0.066 per gallon, making it net $3.23/gal. That's less than the cheapest stations which are presently $3.28/gal. You save around 5 cents a gallon at Costco, but you get to wait a year for the nickle AND you get to wait in line behind 7 or 8 cars in any one of 6 lanes, 12 pumps (50 cars waiting for gas at each Costco, takes up to 12 minutes).
    .
    We recently endured another state gas tax, this one with an excuse to repair roads. Duuuh. There is ALREADY tax money supposedly collected to repair roads but they manage to spend it on something else. So there's nothing protecting this new tax from being spent otherwise too. More Communism.
    .
    Before the new gas tax kicked in, Costco was at $3.069 (less 2% in 12 months). So the tax raised it 23 cents a gallon.
    .
    When I see the vastly cheaper prices for gas in other states, I think, "You guys complain but you don't know how good you have it."
    .

    Wow, I didn’t realize the huge difference in California.  Remember, gasoline prices (for the most part) are the same in ALL 50 States in the USA.  The difference in what one pays in one State vs what one pays in another State is mostly state TAXES.  Americans pay the same price for a gallon of gas.  The discrepancy exists SOLEY due to individual state taxes.

    Offline Matthew

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    Re: Gas prices soaring
    « Reply #9 on: April 01, 2018, 09:37:02 PM »
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  • The lowest here right now is $2.25 ... up about 15c in the last six weeks.

    $2.25 is almost a distant memory now.

    On the way back from Houston, close to home, it was $2.45 at Buc-ee's for the cheap stuff, and that's a huge, high-volume retailer of gasoline. They are NOT known for being above-average in gas prices. On the contrary.

    I noticed the gas price surge this past 1.5 weeks. WTH happened? Did we invade a middle eastern country I didn't know about? Seriously!
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    Offline Stubborn

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    Re: Gas prices soaring
    « Reply #10 on: April 02, 2018, 07:02:02 AM »
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  • Seems like there is only one way for prices to go - up. Here is a link for those who might like to know the real time price of Crude Oil is.
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    Offline Marlelar

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    Re: Gas prices soaring
    « Reply #11 on: April 02, 2018, 12:00:13 PM »
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  • I noticed the gas price surge this past 1.5 weeks. WTH happened? Did we invade a middle eastern country I didn't know about? Seriously!
    Decline of the petro dollar and rise of the petro yuan.
    =================================================================
    "From March 26, seven oil grades will be tradeable on the Shanghai International Energy Exchange (INE), allowing Chinese buyers to buy forward in RMB. Since INE is based in Shanghai's Free Trade Zone (FTZ), foreign traders will be allowed to trade in the market.
    Why now?
    China passed the US as the world's largest oil consumer in 2016. Accordingly, China wants to pay for its huge import bill in its own currency (RMB) rather than USD.
    More importantly, however, China wants the new oil trading plan to promote RMB internationalization, i.e. forcing wider adoption of the RMB as a global trading currency, and switching to RMB payments for major imports is part of this process.
    The emergence of Petroyuan - RMB-denominated revenues collected by the world's largest oil producers - is a natural development from this process." 

    https://www.ubs.com/microsites/china-insights/en/insights/petroyuan.html

    Offline Marlelar

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    Re: Gas prices soaring
    « Reply #12 on: April 02, 2018, 12:05:12 PM »
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  • On the way back from Houston, close to home, it was $2.45 at Buc-ee's for the cheap stuff, and that's a huge, high-volume retailer of gasoline. They are NOT known for being above-average in gas prices. On the contrary.
    Buc-ee's is a hoot!  The one we stopped at had 100 pumps!  Them thars Texas sized fillin' stations!

    Offline Marlelar

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    Re: Gas prices soaring
    « Reply #13 on: April 19, 2018, 11:46:38 AM »
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  • Today, 4/19 gas is $2.73 gal. A 20 cent jump in less than a month. I wonder how long these huge jumps will continue. 

     

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