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Post by chuckie on Sept 6, 2019 18:53:55 GMT -6
I was in Jackson, TN and passed the Kroger gas station where gas was selling for $2.17 a gallon. I stopped and filled it up. That is a good price. I was with my husband when he filled up the ton truck, but I didn't notice what he was paying for the fuel. I just jumped out and tried to wash the windshield as it was covered with smashed bugs.
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Post by M-5 on Sept 6, 2019 19:01:37 GMT -6
Was 1.99 in Alabama before the 6 cent tax took effect on Sept 1st. On road 2.69 off road 2.28
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Post by dave on Sept 6, 2019 19:02:43 GMT -6
That is a lot less than here. I filled up the car yesterday in Baker City. $3.08. About 3 weeks ago I got it over by Hermiston for $2.93 but that place always seems to have the cheapest gas in Eastern Oregon.
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Post by angusrancher on Sept 6, 2019 19:33:32 GMT -6
Cheap gasoline, thanks to domestic production. Isn't it odd that the people most against it are the ones that protested the loudest about "no blood for oil"?
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Post by highgrit on Sept 6, 2019 19:36:52 GMT -6
$2.17 at Walmart for gas, $2.21 for off road diesel at our fuel depot. I don't consider $2+ dollars cheap.
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Gas Prices
Sept 6, 2019 19:38:50 GMT -6
via mobile
Post by bulltrader on Sept 6, 2019 19:38:50 GMT -6
2.11 here today. Last week Food City was 1.88 with a 20 gallon limit
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Post by greybeard on Sept 6, 2019 20:34:13 GMT -6
The refinery margin on gas at those prices is a LOT less than the 30% margin packers were getting for beef last week. $1.96 for gasoline in Baytown Tx yesterday...2 miles from the Exxon refinery. Here in my county, it's about $2.05.
Diesel at the Loves trk stop (higher than most other places) a few miles from me is still around $2.50/gal.
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Post by chuckie on Sept 7, 2019 19:30:48 GMT -6
I find it really interesting to see what areas are paying for their gas. I remember when it was a kid when I first started driving, it was around .50 a gallon. I asked my husband what did he remember when he first started driving and he said it was .35.
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Gas Prices
Sept 7, 2019 19:36:54 GMT -6
via mobile
Post by 3LT Farms on Sept 7, 2019 19:36:54 GMT -6
2.39 around town 2.49 if you get 10 miles out.
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Post by dave on Sept 7, 2019 20:25:57 GMT -6
When I was in college gas was 25 cents. There was a "gas war" (don't see those anymore). I filled up at 17 cents. Two days later it was down to 14 cent. If I had waited I would have saved almost 40 cents. Doesn't sound like much now but back them I could buy a 6 pack for 99 cents.........
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Post by highgrit on Sept 7, 2019 20:38:41 GMT -6
I paid $0.34 for diesel fuel in 1993 in Cameron LA.
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Post by greybeard on Sept 7, 2019 21:53:32 GMT -6
I paid $0.34 for diesel fuel in 1993 in Cameron LA. That would be understandable...a 1/4 century ago...crude oil the same year averaged $16.75/bbl.
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Post by greybeard on Sept 14, 2019 13:25:49 GMT -6
If you don't like today's prices, you probably won't like what is apt to happen next Monday when the markets re-open........ www.cnn.com/2019/09/14/business/saudi-oil-output-impacted-drone-attack/index.htmlAbu Dhabi (CNN Business)Drone strikes on crucial Saudi Arabian oil facilities have disrupted about half of the kingdom's oil capacity, or 5% of the daily global oil supply, people with knowledge of Saudi's oil operations told CNN Business.
Yemen's Houthi rebels on Saturday took responsibility for the attacks, saying 10 drones targeted state-owned Saudi Aramco oil facilities in Abqaiq and Khurais, according to the Houthi-run Al-Masirah news agency. Five million barrels per day of crude production have been impacted after fires raged at the sites, one of them the world's largest oil production facility, people with knowledge of the kingdom's operations said. The latest OPEC figures from August 2019 put the total Saudi production at 9.8 million barrels per day.
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Post by chuckie on Sept 17, 2019 10:56:18 GMT -6
I am anxious to go feed and see if the gas prices have jumped. I guess I don't understand it, if we are told that we are using our own gas from the US, why should our prices change?
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Post by greybeard on Sept 17, 2019 12:31:14 GMT -6
I am anxious to go feed and see if the gas prices have jumped. I guess I don't understand it, if we are told that we are using our own gas from the US, why should our prices change? Same reason any other globally traded commodity's prices change when there is a supply increase or decrease or a demand increase or decrease. Some countries do prop up their own domestically produced oil (and currency) for their citizenry but do so at a high cost to that country. Venezuela tried it for years and they went bankrupt. Russia does it as well and indiscriminately charges more for their energy products to some countries than they do others, while subsidising retail prices for their own citizens..except in Chechnya....they have had a running dispute and sometimes civil war with that part of Russia. Crude oil and it's refined products (gasoline, diesel, nat gas) is bought and sold on the NY Mercantile Exchange here in the US. Whatever a bbl of oil is for any given day at closing, 3:30PM Eastern time, that is what a BBL costs to the refiners. If the price goes up, then all the products made from that BBL goes up as well. Gasoline prices on the retail level is set on a daily basis according to what it will cost to replace what is in the retailer's underground tanks nowadays because most retailers are independent of the refiners. (convenient stores/walmart/COSTCO etc) Convenient stores sell 80% of the retail fuel in the US and there are somewhere between 115,000-150,000 independent retailers in the country. The biggest majority of those, have to buy NOT from refiners but from bulk providers and few of those retailers are company owned nowadays. If they sell the gasoline in their tanks based on what they bought it for, if price of bulk gasoline on NYME goes up, they would lose their britches when it came time to refill their tanks. Why does the price often go up overnight? Because every day around 5:30 Eastern, the bulk wholesalers send out a fax or other electronic notification to all their customers advising them of what it will cost to replenish what they have in their tanks and the retailer adjusts their prices accordingly. This is called the "rack price". The bulk providers base their costs on what it will cost them to replenish their supply from the refiners on any given day, and pass their costs on to the retailer. There are some retailers that buy directly from the refiners but most do not, as it generally cost more to buy directly from a refiner because that means they sell branded gasoline. What determines Rack Price? The International Association of Securities Commission (most of the different Western nations' market indexes) agreed to use what is known as OPIS to determine rack price. Oil Industry Price Index. OPIS was chosen by the US Securities and Exchange Commission because it was deemed to be the most accurate and objective (fair) analyst of energy costs and prices. OPIS is scrutinized by SEC to ensure they are doing their job fairly and without bias. It is OPIS that sets the daily rack price dependent on a lot of different factors. IOW, contrary to popular belief by many uninformed people, "Big Oil" can not and does not arbitrarily raise the price of crude oil or retail fuel at their own discretion or on a whim. It is illegal in the US for retailers to sell retail fuel below costs. Wasn't always the case and it's why gas wars used to be the common.This law was passed because there were too many cases of big retail chains and company owned stations trying to run mom & pop gas stations out of business. Retailers can Raise their prices any time but most do not, as they would simply loose customers to the stations that held to the line they got from their bulk provider. Producers of beef, grains, and any other globally traded commodity also have to deal with global prices and most of those are set by Chicago Mercantile Exchange.
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