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When is the Price of gas going to stop rising?
- Thread starter Haze
- Start date
BajaRon
Well-known member
Something to consider when parcing out the cost of fuel and who is making all the profits.
- Overall Oil Company Profit, after locating, drilling, pumping, refining, transporting and marketing averages out to under $0.50 a gallon. This includes the $0.03~$0.05 per gallon profit the retailer (gas station) reaps. As someone has already mentioned, gas station profits are from their in store sales, they could not make it on fuel sales alone.
- Taxes are often higher than profit, with federal and state taxes accounting for an average of over 60 cents per gallon.
- Credit Card Fees take another bite out of profit.
Keep a eye on the pumps.
Couple of weeks ago they were making a big deal about the price dropping.
I needed to fill the car and yes the price per liter had gone down on 87 octane.
But 91 and 93 had both gone up.
Looks like it will cost between $30 and $40 for every fill up on the Ryker this summer.
Couple of weeks ago they were making a big deal about the price dropping.
I needed to fill the car and yes the price per liter had gone down on 87 octane.
But 91 and 93 had both gone up.
Looks like it will cost between $30 and $40 for every fill up on the Ryker this summer.
Dasmoetorhead
Well-known member
The beatings will continue until morale improves.
Yabbadabbadoo
Active member
“Gas prices will increase until nobody needs gas anymore.”
Snoking1127
Well-known member
We will be close by this summer at Lake Connor Park in Lake Stevens.
blacklightning
Well-known member
One thing that I don't understand is the difference in the prices per grade. It used to be approx. $.10 diffence per grade. Then it went to around $.20. Now there is sometimes over $1.00 difference. We are going to the Outer Banks tomorrow for a week. My goal was to take the spyder, but the possibility of rain and cooler temps has the wife rebuking that thought. So now i am between my vacation car (2017 mustang GT convertible), or my truck (2002 ford lightning). And all of a sudden I am thinking 15 mpg vs 26 mpg. That is a tough one.
LongIsland
Active member
In 1970, when I got my driver's license, regular gas in the US was about 36 cents/gallon. It stood at around that price until the oil embargo of 1974, where it jumped to about 55 cents/gallon. It has never come down. So, it may come down at some time but it'll not come down to the pre-Iran war prices.
troop
Well-known member
Fuel prices just went up again yesterday in my area. 87/10% ethanol is $3.99/ga. 91/ethanol free is now $5.19/gallon. I just went to the garage and flashed in a modified stock tune (Power Vision 4) to allow the option of using regular gas. I'll likely just flip/flop between 87/91for the time being.
BajaRon
Well-known member
There is much more to all of this than meets the eye. Most never consider the big picture.
What $1.00 would purchase in 1900 requires approximately $39.31 to carry away the same items today. What we have here is the cumulative inflation rate of 3,831.11% over these 126 years. (Yes, that's Three-Thousand, Eight Hundred and Thirty One Percent!) Meaning that prices today are roughly 39 times higher than they were in the year 1900. Meaning a dollar today buys only about 2.5% of what it could purchase in 1900.
Or, to put it another way. Your dollar is now worth about 2.5 pennies in purchasing power today. And it's going down as we speak.
$1 in 1970 is equivalent in purchasing power to approximately $8.51 today. That is a cumulative inflation increase of over 751%. A dollar today only buys about 11.75% of what it could buy in 1970.
So, your $0.36 a gallon for gas was actually $3.32 in todays economy.
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Oil is a commodity so supply and demand forces are the dominant forces that come into play with pricing. Higher prices force conservation. I was stationed in NJ with the Army during the embargo and at that time they used an odd/even license plate number for days when you could buy gas and long lines were at every gas station. Stations were always running out of gas. I even saw a gun pulled when a person tried to cut the line!
BajaRon
Well-known member
We did the same thing in California. Odd/Even license plate. We could be there again if we are not careful.
We haven't built a refinery in the USA since 1977. And, for the most part, we can't even refine the oil we produce here. America produces some of the highest-grade oil in the world. It’s called ‘Sweet Crude’. But we've built refineries for dirty, junk oil (from the middle east, Venezuela, etc.) because being able to extract oil from this country is so unpredictable. This administration says you can, the next says you can’t. Why invest in something that you might not be able to use?
So, we sell our oil to other countries with the ability to refine it, and buy what we use from outside the USA.
Very interesting!
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