What Are You Paying For Gasoline at the Pump now?

chic said:
Wow, some of these prices are really great! I paid $3.29 per gallon the other day which is down from $3.59-69 all month. We can't catch a break around here with high gas prices.
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Calif gas prices are always higher than average, too. It's the "gas tax", and Calif has 2 - one for environmental interests, one for road maintenance, and both in a pig's eye.
 
This past Tuesday morning, I paid $2.49 a gallon at Race Trac across from the gym. I could have driven 5 miles to Costco to get it cheaper but I was in a hurry to get back home after a good workout.
 

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Well. I wasn't going far Wednesday and 7-11 was lower than Walmart (closer too) so popped over for $25 worth. At a whopping $3 159 per gallon. I have 1 more fill up allowed with 11 cents off, I'll wait to strike!!
 
Has the price of gas ever plummeted this much before? I know it went down a lot after the Iraq war from the highest I've ever seen it to under $2.00, but it seemed like that took two or three years. And I don't understand the price drop now after all the worries about Russia invading Ukraine.
 
JustDave said:
Has the price of gas ever plummeted this much before? I know it went down a lot after the Iraq war from the highest I've ever seen it to under $2.00, but it seemed like that took two or three years. And I don't understand the price drop now after all the worries about Russia invading Ukraine.
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July y, 2008, national average at $4.114, falling to $1.838 in January, 2009.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMR_PTE_NUS_DPG&f=W

Significant quantities of crude has been removed from the Strategic Petroleum Reserve.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCSSTUS1&f=W

The volume of crude in the global system, overwhelmed the refining capacity, post covid and industry closures, which in the U.S. ran at highest rates in many years.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=wpuleus3&f=4

The U.S. actually refined more than enough for domestic demand, but exported considerable volumes, more than imports, by 77M barrels since March 1st..
imports... https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WGTIMUS2&f=W
exports... https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPM0F_EEX_NUS-Z00_MBBLD&f=W

U.S. consumer consumption of gasoline peaked in June, and has been falling since, with current consumption at 8.2% below this time last year.

4 week gasoline consumption average.jpg
Not completely sure, but wide refinery margins are now very compressed, which suggests gasoline prices are near bottom, unless the economy deteriorates further. That is my 2¢, which doesn't buy much of anything these days.
 
Harry Le Hermit said:
July y, 2008, national average at $4.114, falling to $1.838 in January, 2009.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMR_PTE_NUS_DPG&f=W

Significant quantities of crude has been removed from the Strategic Petroleum Reserve.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCSSTUS1&f=W

The volume of crude in the global system, overwhelmed the refining capacity, post covid and industry closures, which in the U.S. ran at highest rates in many years.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=wpuleus3&f=4

The U.S. actually refined more than enough for domestic demand, but exported considerable volumes, more than imports, by 77M barrels since March 1st..
imports... https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WGTIMUS2&f=W
exports... https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPM0F_EEX_NUS-Z00_MBBLD&f=W

U.S. consumer consumption of gasoline peaked in June, and has been falling since, with current consumption at 8.2% below this time last year.

View attachment 258242
Not completely sure, but wide refinery margins are now very compressed, which suggests gasoline prices are near bottom, unless the economy deteriorates further. That is my 2¢, which doesn't buy much of anything these days.
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I actually looked up most of that information yesterday. The economics are not completely intuitive to me, and when I read about any economic situation, I often have a suspicion that that the writers aren't really sure about what's happening either but they have a column to fill, so they explain facts with opinion. They probably deserve more credit.

But way back 40 years ago I was listening to my car radio as prices were going up because winter was coming on and people would be buying more heating oil. That made total sense easy enough until the next spring, when prices were going up because people would be driving more during the summer. And these explanations continued the next year and the year after. Why did prices never go down because people were driving less in the winter or heating less in the summer? I got the feeling the reporters were getting their information directly from the oil industry, which set prices according to its own whims, then fed us bullshit. Granted it's not so illogically flawed now, and it does make more sense, but I still consult my bullshit detector from time to time.
 
Thursday I paid $3.36 per gallon. A couple of weeks ago it was $3.10 per gallon. Last week I missed out when it was $2.70 per gallon. Hoping it will drop again after the New Year, I only bought 5 gallons to get to half a tank. This is for Regular Unleaded, not the higher levels.
 
Eastside Seattle. IOW, eastbank of Lake Washington.
Branded gas, and intown, ~$4.29 (gasbuddy)
Unbranded (Costco), edge of town, ~$3.59 (gasbuddy)
We haven't bought gas in about a month-Don't go very far when we do drive. <100miles/mn. Prius2.
Washington's refinerys get its oil from a long ways away-Alaskan(ship), Dakotas (rail), and Canadian (pipeline from Canada or rail). Oregon's gas comes from Washington by barge, rail, pipeline and is a little bit more expensive than the cheapest Washington's gas, taxes excluded. NG is via pipeline from Canada or networked domestically but wherever the NG source, it's a long ways.

Can you now, partly, understand why Oregon and Washington have high numbers of hybrids and BEV's.
 
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I have had a hard time keeping up with gas prices lately. It's been a week now, and I have no idea what prices are today. I use Gas Buddy, but only before a purchase, and I'm not close to needing gas yet.
 
JustDave said:
I actually looked up most of that information yesterday. The economics are not completely intuitive to me, and when I read about any economic situation, I often have a suspicion that that the writers aren't really sure about what's happening either but they have a column to fill, so they explain facts with opinion. They probably deserve more credit.

But way back 40 years ago I was listening to my car radio as prices were going up because winter was coming on and people would be buying more heating oil. That made total sense easy enough until the next spring, when prices were going up because people would be driving more during the summer. And these explanations continued the next year and the year after. Why did prices never go down because people were driving less in the winter or heating less in the summer? I got the feeling the reporters were getting their information directly from the oil industry, which set prices according to its own whims, then fed us bullshit. Granted it's not so illogically flawed now, and it does make more sense, but I still consult my bullshit detector from time to time.
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I feel that way about the summer/winter blends. I swear they must have a full time person to just dream up all this BS and make it palatable to us peons.

cow dung.gif
 
According to AAA, the national average was $3.096 on December 23rd and is currently $3.423.

They say eggs are cheaper in the country, but driving there might not be.
 
Owlivia said:
Thursday I paid $3.36 per gallon. A couple of weeks ago it was $3.10 per gallon. Last week I missed out when it was $2.70 per gallon. Hoping it will drop again after the New Year, I only bought 5 gallons to get to half a tank. This is for Regular Unleaded, not the higher levels.
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The average UK price is £1.70 per litre, that works out at $8:00 for a US gallon.
 
Currently the cost of Unleaded petrol here is £1.34 per LITRE at Costco.. which is cheaper than the local garages which are selling at around £1.50 per litre.. .. 4.5 litres in a UK Gallon... so at Costco.. £6.03 pence for a Gallon.. almost a 20 % cheaper than just a month ago.,
 
I should have hit Safeway, but had to get coffee and pastry. So 7-11 at $3.54 a gallon. But made the doctor visit on time.
 

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