Price Of Gas.. Really Dropped Today.

[Al]

Originally Posted By: grampi

Unfortunately, that isn't possible in a society that is built around commerce...

As GARAK said we are not guaranteed Life, Liberty and Cheap Gasoline. Too many people in this country act like we should live a beautiful sheltered life. ..Freedom from everything that makes life a little tough. We live the life that only a small part of the world enjoys and no one enjoyed in past decades.

People in the Depression endured much and for the most part accepted it. People in WWII did without..they made do. I assume you are retired. I would guess you could cut your gasoline usage in half without even trying. I could cut down even more. So could most people. Boo-hoo for the soccer moms who can't take their kidfs to practice multiple times/day and feel they need to drive their kids to school.

I pitty people who feel so entitled that they worry about the most mundane things. I keep enough food in my house that except for an emergency I could do without a vehicle for weeks and if necessary I could do without a vehicle permanently.

 

[IndyIan]

Originally Posted By: kschachn
Originally Posted By: IndyIan
It would be interesting to have electricity prices changing daily though? A transformer shortage in Utah, and your price today goes up $0.05/KW/h...


Mine does, although I only see it once a month since that is my frequency of billing. But that little surcharge (or credit) is what compensates for the Citizen's Utility Board set rates.

So your rates don't jump up and down 20% between months?
I'm not saying we deserve super cheap gas, but it seems that electricity has a far more volatile cost of production and market price(changes large percentages by the minute), but by regulation, the consumer sees small price increases that are around the inflation rate.
Since fuel is easy and cheap to store, it seems like it would be easier to regulate the prices than electricity?

 

[HTSS_TR]

Originally Posted By: grampi
I like how you guys exaggerate everything to make a point. All I'm saying is gas prices could be reasonable all the time like they are now...$3-$4 a gallon gas and $100+ crude is unnecessarily high...

What is a fair price for crude oil ? Who determines fair oil price ? Buys or sellers ? Whatever the price of crude oil that buyer and seller agree upon is fair price to me.

Crude oil price went up then down then up then down ... many times the last 20-30 years. It was more than $140 a barrel not long ago and as low as $20. Which price is fair for sellers ? And which price is fair for buyers ? Crude oil price is very much supply and demand, higher demand than supply price goes up, more supply then price goes down.

Oil companies on average make about 8-12% profit a year, much less than many other industries. Looks at Pharmaceutical industry, Pfizer(US) had 43% profit margin in 2013, Hoffmann-La Roche(Swiss) had 22% profit margin.

If you look at crude oil and refined gasoline, you should be amaze that the oil companies can refine a "good looking" crude to gasoline to power your car for so little cost.

Currently 1 gallon of crude oil is $1.20(47.xx a barrel), national average Federal and state taxes is about $0.50, refining +transportation cost about $0.25/gal. It is already $1.95 after these costs and today national average $2.30/gal is extremely low to me.

Orange County/California average is $3.17/gal, even we pay much higher than national average I still think that the price is very low consider all the works needed to extract oil under the sea or under ground to final product that I can fill my tank.

 

[Al]

Originally Posted By: IndyIan
[
So your rates don't jump up and down 20% between months?
I'm not saying we deserve super cheap gas, but it seems that electricity has a far more volatile cost of production and market price(changes large percentages by the minute), but by regulation, the consumer sees small price increases that are around the inflation rate.
Since fuel is easy and cheap to store, it seems like it would be easier to regulate the prices than electricity?

So your electricity rates jump up and down 20%/month???

 

[IndyIan]

Originally Posted By: Al
Originally Posted By: IndyIan
[
So your rates don't jump up and down 20% between months?
I'm not saying we deserve super cheap gas, but it seems that electricity has a far more volatile cost of production and market price(changes large percentages by the minute), but by regulation, the consumer sees small price increases that are around the inflation rate.
Since fuel is easy and cheap to store, it seems like it would be easier to regulate the prices than electricity?

So your electricity rates jump up and down 20%/month???

No they don't, my point is that gas prices do jump all over the place for no reason it seems.

 

[Bud_One]

Costco today had regular 87 octane for $1.87 a gallon.

 

[InfmousCornholio]

$1.849

 

[InfmousCornholio]

Also:

 

[Benzadmiral]

$1.83 at an independent convenience store in my area.

 

[Al]

Originally Posted By: IndyIan

No they don't, my point is that gas prices do jump all over the place for no reason it seems.

I tried to explain that. Hopefully you will reread my post and understand it better. And remember oil is a world commodity and electricity is not so much. I have a decent amount of knowledga having worked in an electric utility my whole career.

 

[Nyogtha]

Originally Posted By: Al
Originally Posted By: HTSS_TR

Grampi wants the whole oil industry work as charity organizations. Everybody works at oil explorations/refineries should be paid with minimum salary of $10/hr without benefits, CEO should earn no more than $100k/year and with no benefits too. Transportation companies carry gas to stations should be paid at minimum wage. Gas stations should earn no more than 5 penny a gallon ...
Virtually nobody should earn no more than Federal minimum wage working for oil industry.

lol..its called Communism..it didn't work out well did it?


Actually you can see this model in the Bolivarian Socialism of Venezuela. The 'tip' paid to the full service service station attendants exceeds the cost of fuel pumped. Hugo Chavez's successors even wrote him into the Lord's Prayer. Time will tell how long those in power in Venezuela will be able to keep this economic model afloat.

https://news.vice.com/article/saintly-hugo-chavez-replaces-god-in-socialist-lords-prayer

Canada gained some great minds & expertise on heavy oil issues when the educated PDVSA workers who went on strike were fired by Chavez last decade. With a government owned oil company, if you lose your job the best recourse for re-employment is immigrate to where oil companies aren't owned by the government.

 

[Warstud]

Just seen it for $1.72..Never thought I'd see it that cheap.

 

[dlundblad]

It was $1.79 here last week. $1.99 now.

 

[supton]

$1.72? Wowzer. I too never thought I'd see it that low. Then again... I haven't yet.

Drove down to CT and saw a sign advertising $2.48. Wish I had filled up before leaving NH. I think it was $2.02 in Warner yesterday.

 

[Dallas69]

1.69 here today
Yea

 

[daves87rs]

1.69 here.

Will start going sky high soon....

 

[Al]

Cheap gas = more driving= more traffic. I really don't care bc I'm retired.

 

[Mr Nice]

$1.69 ????

Wow!

 

[Quattro Pete]

Regular was $1.63 yesterday, but look at the spread between regular and premium. Premium is now essentially 50% more expensive than Regular. Sheesh.

 

[kschachn]

I saw that pic of yours Quattro Pete, and then noticed this nearby: