gas price thread

[MrDude_1]

saw $1.95 Regular, $2.05 Premium this morning.
I am about to go on a roadtrip/vacation later this week... makes me wish I could fill up enough for the whole trip here. Most of the country costs more.

 

[yoyoman]

$3.47 San Diego regular

 

[rsilvers]

Saw $3.58 on Nantucket Island MA. Congratulations CA, you pay as much as a small island in MA that they have to ferry fuel to.

 

[The fingers]

Regular $2.99, supreme $3.19 per gallon.

 

[dnmun]

you better go buy it tonight. the times they are achangin.

 

[The fingers]

I have to fill up this afternoon. :|

 

[markz]

roughly $5,$6,$7 usd/gallon in europe. So I wouldnt complain about gas prices.
Russia is $2usd/gallon

 

[dnmun]

my fellow americans, our long days of suffering low gas prices are over. praise be to elon and the new lithium supply contract for the mega factory. now the mexicans can sneak the dope in on the trains carrying the lithium to nevada.

better buy your gas today!!

http://www.investing.com/commodities/gasoline-rbob

 

[The fingers]

Regular $2.95, supreme $3.15 per gallon.

 

[dnmun]

just bot gas after a 2 cent rebound from the $2.41 low. i paid $2.43, cheapest in town for 6.61gallons in my plastic jug to save for later when i drive the truck.

picked it up in my electric car, guy was flustered looking for the filler neck. he did not realize it was electric.

i think that will be the cheapest in this cycle, maybe, hopefully forever and ever.

 

[rsilvers]

$1.95 today on Huntsville, AL.

 

[dnmun]

i think we hit bottom in gas prices. this goes back to the previous bottom in december 2014 to january 2015:

http://www.investing.com/commodities/gasoline-rbob

at the high in RBOB back in october before oil prices collapsed, gasoline cost 134% more, more than the price this morning. 3.12/1.37

 

[rsilvers]

I don't think so. We are still on expensive summer blend. Norm blend is coming.

 

[MrDude_1]

I don't think so. We are still on expensive summer blend. Norm blend is coming.

you'll notice the places with the cheapest gas, have no specific blend requirements. Happens every year around switchover time.

 

[The fingers]

Suprisingly, the price has remained the same for an entire week. :?

 

[yoyoman]

wow, got gas for $2.99 today! prices are even below the SoCal price hike.

 

[dnmun]

already climbing here. it got down to $2.41 for the lowest place, and then went up to $2.43 two days later, when i got some gas, then next day to $2.45, and now up to $2.47 5 days later.

 

[tomjasz]

$2.17

 

[Punx0r]

How's this for a theory?

The Saudis perceive the beginning of a gradual decline in oil demand initially due to the economic turn-down (China) which will be continued to the move towards renewable energy. At the same time we've seen lots of new and expensive oil sources explored. Without action this would lead to a long-term over-supply of oil, which would leave the Saudi's with unexploited reserves. Due to their cheap oil and huge financial reserves they can weather a storm of cheap oil longer than all their competitors. So they deliberately hold the oil price low in the medium-term until almost all their competitors shutdown. Once shut-down infrastructure, people, skills are lost and hard to restart. This leaves the Saudi's the main global supplier of oil into its twilight years, allowing them to control price and monetise all their reserves. If so, I wouldn't be betting on a return to $100/bbl prices anytime soon.

 

[dnmun]

actually just the opposite will happen. many of the oil producing frontiers shut down now for lack of capital to maintain production will not be able to finance restarting operations.

when the turn comes and the major producers finally cut back the sources of oil available in the past will then be dramatically reduced and by then demand will have grown by another 1 mmbopd.

i expect the rebound to be almost as dramatic as the recent short squeeze and it is possible we will see $150 crude again in less than 2 years. then we will be back to $4 gas again. hopefully it climbs to $6-8 gallon in the US.

 

[rsilvers]

Why do you want gasoline to be $6-$8 per gallon?

In theory I should like it, because I own energy funds, but it would be hard on most people.

 

[markz]

Why do you want gasoline to be $6-$8 per gallon?

In theory I should like it, because I own energy funds, but it would be hard on most people.

.......then some can retire! And ride/drive their electric bike/vehicle! In some Latin American country, chilling on the beach!

 

[dnmun]

if we could get gas to $10-12/gallon we could finally start making progress on cutting down CO2 emissions and getting people off their addiction to petroleum. if we can get to $6 it would be a miracle but everyone else in the world except the US, venezuela, saudi arabia, kuwait, and russia already pays that much.

 

[markz]

No petroleum, no plastic, then everyones S.O.L.!

 

[dnmun]

Why do you want gasoline to be $6-$8 per gallon?

In theory I should like it, because I own energy funds, but it would be hard on most people.

actually the low price of crude is harder on working people as well as those non working people in the gulf states because it removes the source of income for so many millions of people around the world whose lively hood depends on their job producing oil.

rich countries like the US and europe can afford to pay the price with no impacts. people coped in the past, it led to improvements in cars and we got front wheel drive and small nimble cars from honda after that.

now we could have electric cars to do what most people need. we don't need gas to go places. we should stop using it. instead of burning all the natural gas to keep streetlights and wasted energy in every home, we should charge a healthy price for electricity also and give a direct credit for those using it for transportation when the transportation could be justified and rationed.

for long distance and trucks we should already be using that natural gas for the power source, not for making electricity for night lighting.