Price of Gas

[mikel]

Today gas has dropped to $3.48 a gallon in Jackson MS.

Bill said he was paying 4.25 on the west coast.
Over 60 cents of the 4.25 went to taxes and an extra 20 cents on the gallon because as Bill said it's the West Coast.

We all pay a federal tax of 18.4 cents per gallon. The state goverments add taxes of all sorts for roads and are hurting because we have been buying less.
Mississippi adds only 18 cents tax. NC adds 26.6 and PA adds 31.1 tax.

With the price of a barrel is still up there and the price at the pump dropping, makes one wonder who controls the pump prices. And where does the adage of price and demand fit in?

mikel

And a big HEY to 4alpinelarry!

 

[Jim E]

I recall the gas war of the early 70s and gas selling for 17 cents a gallon there for a very short time in southern ohio. My very first job was pumping gas and stocking coolers at a shell station. I was 13 at the time. We once ran out of regular and the owner told me to pump premium and just charge for what the same amount of regular would cost. Man back in the day.... pumped the gas washed the windshield and check the oil was pretty much a given and also air up the tires if they ask. While I worked there the very first self serve station opened [in Lebanon Ohio anyway]just across the road, a Clark station, we really thought that was wierd at the time.

One thing that sticks out in my memory of working there was if we sold directions and gave away gas we would have made more money.... seemed like every other car wanted to know how to get somewhere.... Kings Island was ask about the most. The funny thing was here I am a 13 year old kid who rides a bike to work and has no sense of direction and you ask me how to get to Kentucky... hahaahahahahahahah

 

[Series6]

Just for grins

I thought I'd resurect this topic. What are you paying now?

Yesterday I paid $2.03 for regular. When I saw the total I thought there was a mistake.

 

[phatt]

gas price

Paid $1.97 today. The Hemi in the truck said thank you. Wouldn't it be great if the price stayed lower (relative) until Suni was over? Shure would help the wallet.

 

[TulsaAlpine]

Lower

The local Wally world is at $1.66 for regular unleaded. All of the Osage Indian tribe are upset seems they will have to shut down local oil well pumps since they can not break even selling crude, ahh that really bothers me, NOT!

Donna

 

[Nickodell]

Average $2.19 in SE PA, $1.79 over the river in NJ (where they also pump it free!) I don't get it. NJ is one of the most expensive states re. property tax, but has on eof the lowest gasoline taxes, and the state is broke. 30c a gallon more would make the state solvent in a few years, and that would still put it lower than PA, and you'd still be able to sit in your car while it rained or was 15 deg. F outside and some poor schmuk had to pump it for you.

 

[mikephillips]

Dropped to $1.69 overnight up the street from me

 

[MikeH]

Both New Jersey and Oregon prohibit self-service gas stations by statute.

 

[Rsgwynn1]

I have about 15 gal. of $4+ gas I purchased in September for my generator. I'll let it go at $3.25/gal. to anyone who's interested in some fine vintage 87 octane. Pickup only. Cans not included. PM me if interested.

 

[Bill Blue]

I have about 15 gal. of $4+ gas I purchased in September for my generator. I'll let it go at $3.25/gal. to anyone who's interested in some fine vintage 87 octane. Pickup only. Cans not included. PM me if interested.

Your gasoline investment is doing about as good as my 401K.

Bill

 

[tony perrett]

The average local price for 95 octane in UK is $5.22 per US gallon.

 

[Series3Scott]

The average local price for 95 octane in UK is $5.22 per US gallon.

WOW! I can get away with 87 octane with my daily driver, and today it's at $1.68 / gallon.

 

[65beam]

my cost of gas in the cinci and columbus areas dropped another 11 cents today. cost without state or federal taxes is now less than a dollar .

 

[Lee DeRamus saoca0404]

Here in Louisana, Shell is $ .05 cents less than Exon. But Shell has 10% ethanol in it, Exon doesn't.

 

[mikel]

Talk about putting a spin on it!

I read this today in one of the news agency web sites.

If the price of gas continues to fall it will have an adverse effect on the global economy with the expectation of lower prices on other goods.
The consumer will not spend $1000.00 For a big screen TV but instead will wait for the price to drop to $850.00.
Supply with low demand.
The value of money will go up and the cost of loans will go up.
Instead of inflation we will have deflation. Of the "70"?

Me, I am just happy to spend less at the pump.

 

[Nickodell]

People badmouth inflation as being all bad, when that's not the case, at least the small inflation we have seen in the past many years in the USA. For example, you take out a 30-year mortgage at $1,400 a month. With only 3.5% inflation, by Year 9 you're only paying $1,000 in today's dollars. By Year 19 you're down to half, and by the final year of the mortgage your payment is equivalent to $480. Sure, you are also paying interest, but today's rates are at a historic low, you lock them in at the start, and the interest payments get less and less as each year goes by. Meanwhile, your wages/salary will at the very least have been adjusted by a COLA to keep pace with the drop in the dollar's value.

Deflation is very bad news. Nobody will want to take out a loan for anything, especially a business, if they know that each repayment will actually cost more than the previous one because the dollar keeps increasing in value, and they will actually be paying back many times more than the initial loan.

The good news about the drop in the price of petroleum is that it's both benefiting the US economy - and our pocketbooks - but also hurting countries like Venezuela, Iran, Russia and Saudi Arabia. F**k them, I say.

 

[mikel]

Gas is $1.66 a gallon tonight at the local grocery store in central Mississippi.

Sorry admin, everybody if I got a little off track with my last post.

I thought it was neat to get responses from everyone on the price of gas.

Mikel

 

[Bill Blue]

Talk about putting a spin on it!

I read this today in one of the news agency web sites.

If the price of gas continues to fall it will have an adverse effect on the global economy with the expectation of lower prices on other goods.
The consumer will not spend $1000.00 For a big screen TV but instead will wait for the price to drop to $850.00.
Supply with low demand.
The value of money will go up and the cost of loans will go up.
Instead of inflation we will have deflation. Of the "70"?

Me, I am just happy to spend less at the pump.

I can't see deflation. The world is floating on the American dollar and our economy is tanking. That leads to deflation? In any event, if deflation does occur, all the gov't has to do is print some more money. That was something FDR could not do during the Great Depression. The dollar was tied very tightly to gold.

I may be stupid, but I'm hard headed.

Bill

 

[Series6]

Price of fuel

Well, heck with the politics and economical conditions I don't understand anyway. I'm going to fill my tanks today and go to the vintage races at PIR and get some track time (guided laps. No paint trading.) and then go play. It's about 78 out now and perfect Alpine weather. If I come back on fumes, I'll consider it a day well spent.

Ain't life grand?

 

[Nickodell]

I can't see deflation. The world is floating on the American dollar and our economy is tanking. That leads to deflation? In any event, if deflation does occur, all the gov't has to do is print some more money. That was something FDR could not do during the Great Depression. The dollar was tied very tightly to gold.

I may be stupid, but I'm hard headed.

Bill

Why would we need more dollars to be printed if each one is worth more every day? Cranking up the presses is what governments do in inflation, not deflation, because in the former case it requires more and more dollars to purchase goods and services.

Anyhow, deflation is self-correcting and never lasts long. Remember, however, that the value of all currency is relative to all others. At the moment the dollar is in deflation vs the pound sterling, which has dropped in value faster. This makes it much cheaper to buy things from the UK and travel there (which used to be ruinously expensive), but has knocked my wife and my UK Soc. Sec. pensions down by nearly 35% in the past year.