(Car) gas prices.

jkaduk

jkaduk

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John Kaduk
I bought 100LL at Lompoc CA for 3.37 a gallon recently. Premium at San Diego stations is going for about 3.30 a gallon. :hairraise:
 
jkaduk said:
I bought 100LL at Lompoc CA for 3.37 a gallon recently. Premium at San Diego stations is going for about 3.30 a gallon. :hairraise:
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Dang John, we're at about 2.39 a gallon for unleaded in middle TN. High test goes for about 2.59.
 
Low 2.40s here.

Looks like there's no shortage of stupidity on the left coast.
 
Well John , here in PA the cost is,
Low...........2.59
Midgrade....2.69
High..........2.79
At most places, but i have seen it about .20 higher in high traffic areas.
Dave G
 
The lowest it has been in Portland was 2.27, but only for a couple days. It's back up to nearly 2.80 right now.

Time to get rid of the Yukon and get a Yamaha.
 
Here in Lake Havasu, I was paying $2.09 a gallon for a few weeks, then one day, it jumped to over $2.40, just like that.
 
SkyHog said:
Here in Lake Havasu, I was paying $2.09 a gallon for a few weeks, then one day, it jumped to over $2.40, just like that.
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Yeah, what's with the recent price spike? We had actually gotten back down to $1.97 for unleaded a couple months ago, but paid $2.39 for regular today.
 

[FONT=Arial,Helvetica]"Tues[/FONT][FONT=Arial,Helvetica]day, March 13, 2007[/FONT][FONT=Arial,Helvetica]: NYMEX West Texas Intermediate for April delivery closed down $0.98 at $57.93 [/FONT][FONT=Arial,Helvetica]per barrel."[/FONT]
Interesting ain't it? A barrel of crude is about $20 less than at it's peak but we are within $0.40 of the peak fuel prices last year. Also note that while the price of crude has dropped the last few weeks, gasoline prices have increased.

Source: http://www.wtrg.com/daily/crudeoilprice.html
 
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kevin47881 said:
[FONT=Arial,Helvetica]"Tues[/FONT][FONT=Arial,Helvetica]day, March 13, 2007[/FONT][FONT=Arial,Helvetica]: NYMEX West Texas Intermediate for April delivery closed down $0.98 at $57.93 [/FONT][FONT=Arial,Helvetica]per barrel."[/FONT]
Interesting ain't it? A barrel of crude is about $20 less than at it's peak but we are within $0.40 of the peak fuel prices last year. Also note that while the price of crude has dropped the last few weeks, gasoline prices have increased.

Source: http://www.wtrg.com/daily/crudeoilprice.html
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I'd love it if someone would publish a chart showing the price of crude against the average price of 87 octane over a period of a couple of years so we could see if there's any correlation. (I'm sure it's been done. Links, anyone?)

Edit: Note I'm talking about the actual price; not the futures price, which is someone's bet about what will happen.
 
The problem is NOT the price of crude (though that enters into it). The problem is refining and distribution capacity. And part of it is government regulation.

A different blend of gasoline is required in the summer than the winter, partly to meet pollution controls. RIght now is changeover period.

The other factor right now is that many refineries do maintenance in the spring (like now) because the heating oil season has basically ended and the summer driving season has not started. However, since demand is pushing 95-98% of total refinery capacity, any shutdown or disruption (even for maintenance) will push prices disproportionately higher. The supply-demand-price curve is not linear.

The fact that gasoline pricing does not have a linear relationship to crude pricing means that the constriction is elsewhere in the system.
 
wsuffa said:
The problem is NOT the price of crude (though that enters into it). The problem is refining and distribution capacity. And part of it is government regulation.

A different blend of gasoline is required in the summer than the winter, partly to meet pollution controls. RIght now is changeover period.

The other factor right now is that many refineries do maintenance in the spring (like now) because the heating oil season has basically ended and the summer driving season has not started. However, since demand is pushing 95-98% of total refinery capacity, any shutdown or disruption (even for maintenance) will push prices disproportionately higher. The supply-demand-price curve is not linear.

The fact that gasoline pricing does not have a linear relationship to crude pricing means that the constriction is elsewhere in the system.
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What he said, but an interesting aside...

Rex Tillerson (Chairman / CEO of XOM) said in a speech last week that he believes that there is $15-$20 of emotional price in a barrel of crude. (My paraphrase). Translation: There's $20 of price in there that is purely from an emotional, speculative market point of view. It doesn't reflect the actual value (which, by his interpretation, is more like $40-$45 a barrel at current market indicators)

I'm starting to believe the Behavioralists (sp?) - the market is fundementally irrational but makes it's best attempt to behave rationally.

Cheers,

-Andrew
 
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