What's your gasoline costing?

[Fritzo]

Been following some industry experts on Twitter and they're all pointing to specualtors rather than supplies. There's been some refineries shut down due to the July heat so the US is only running at 90% capacity, OPEC and Russia cut production as well. However demand is going down so there could be a counter balance to that.

If speculators are wrong, this will create a supply glut, leading to very cheap gas for the winter.

 

[BoomerD]

$4.59/gallon for regular yesterday.

 

[Lost_in_the_HTTP]

Is anybody using this Upside thing? Installs on your phone and shows discounted prices in you area. Then you get a rebate you can cash out later.

 

[dave_the_nerd]

$3.90/gallon premium when i filled up last week at Costco last week. I only fill up every 2-3 weeks though. (Don't drive much.)

 

[Hotrod2go]

AUD $2.02 per litre, nearest service station near me atm.

 

[Lost_in_the_HTTP]

I use a CC from BP that knocks 15 cents off at the pump. Then with Upside (mentioned above), they offered 43 cents off per gallon that will post as a rebate I can cash out.

I'll take 58 cents off.

 

[Red Squirrel]

Sitting in the 170/litre range here. Seems that's where it will stay. 1.60-1.70 or so is the range it's been in for the last year at least.

 

[BoomerD]

The cheapest gas in the region...about 25 miles away, $4.79 the cheapest here in town, $5.29.

 

[esquared]

Yeah, the brand name stations have jumped again. Shell, Chevron are now 5.49 and 5.59/ gal.
Cheapest of the cheap stations like Safeway and Arco are 4.85 and 4.89 respectively. Even Costco is 4.89.

It used to be, even in California that 50/barrel oil was 2.00/gal gas. 90/barrel was 3.00/gal gas. Even when oil hit 130/barrel, gas was 4.00/gal.
during the great recession.
That old metric of every dollar rise in oil translated to 2.5 cents per gallon is pretty much out the window. At least in California. Our special formula generally meant we paid 10 to 20 cents higher per gallon than other states but now it's closer to 1.50 a gallon higher.

 

[Brainonska511]

$3.71/gal here in the Boston region.

Saw >$5/gal when I was in Seattle 3 weeks ago.

Wouldn't mind seeing gas go higher, if only to discourage people from buying gas guzzling land barges.

 

[RLGL]

3.45/gallon at Costco in Minnesota on 9/3

 

[lxskllr]

It's about $3.50 here. I'll find out exactly tomorrow when I get gas. I got corn free gas for my small engines last week, and was appalled at the $4.60/G price, but it doesn't seem so bad compared to the CA(pick which one you like) prices. Still sucks carrying $50 is two hands though.

 

[Ajay]

Been at $3.995/gal all summer at the two closest gas stations. A couple further out are a bit cheaper.

 

[Lost_in_the_HTTP]

With those discounts I posted above, my net cost has been in the $2.75 range for a while.

 

[Hotrod2go]

$2.06.9 per litre here now in my part of Australia. $2.17 pre litre of diesel... truck deliveries of goods & produces fuelling inflation even more.

 

[IGBT]

Dig deeper and get the bicycle out... https://www.zerohedge.com/markets/o...sia-surprise-extended-expanded-production-cut

Just after 9am ET, Saudi Arabia said it would extend the voluntary cut of 1 million b/d of for another 3 months, from October until the end of December, well beyond the expectation of just 1 more month. Saudi press agency SPA notes that the voluntary cut decision will be reviewed monthly to consider deepening the cut or increasing production. The extension of cuts is meant to reinforce the precautionary efforts made by OPEC countries with the aim of supporting the stability of the oil market. The Saudi announcement came a shock to market as 20 of 25 traders and analysts surveyed by Bloomberg last week had predicted the additional cutback would be continued for just one additional month.

And then, literally seconds after the Saudi decision, Russian deputy PM Novak said Russia would also extend its reduction of oil exports until the end of the year, reducing its oil output by 300kb/d in voluntary cuts until December 2023.

 

[manly]

$5.42/gal for premium

 

[Dr. Detroit]

The Saudi's and Russia are squeezing prices up. Inflation will begin ticking up because of the $90/barrel oil and with RTO in full effect, demand is increasing again and Biden depleted our SORs to an all time low so we need to re-stock and can't release any. We will soon see $100/barrel and with rising CPI, my daddy JPow will be forced to raise rates as early as Nov1 but most likely in the mid Dec meeting.

Aint this fun!

Costco today in Santa Clara!


Costco today in Eureka, CA

 

[Red Squirrel]

Crazy that in an oil rich country we still rely on Saudi Arabia for prices. We should just go our own way and break away from the world market. Of course a majority of the price is taxes so it probably wouldn't be that much lower.

 

[Ajay]

Crazy that in an oil rich country we still rely on Saudi Arabia for prices. We should just go our own way and break away from the world market. Of course a majority of the price is taxes so it probably wouldn't be that much lower.

We can't just break away from a world market that we (the west) helped to create. There is a world order on the legal responsibilities of trading partners such at those set out by the WTO. On the plus side, it give us (particular the US and our allies) a lot of clout in that system - but not total control.

 

[Brainonska511]

We can't just break away from a world market that we (the west) helped to create. There is a world order on the legal responsibilities of trading partners such at those set out by the WTO. On the plus side, it give us (particular the US and our allies) a lot of clout in that system - but not total control.

Also, if we want to limit the impact of world oil prices, the best way to do that is to move towards reduced consumption of oil through a better built environment and selection of vehicles that don't so heavily rely on fossil fuels. North America is filled with vanity trucks and SUVs, and an environment that is built to encourage lots of individual driving (it doesn't have to stay this way of course).

 

[Ajay]

Also, if we want to limit the impact of world oil prices, the best way to do that is to move towards reduced consumption of oil through a better built environment and selection of vehicles that don't so heavily rely on fossil fuels. North America is filled with vanity trucks and SUVs, and an environment that is built to encourage lots of individual driving (it doesn't have to stay this way of course).

True - but as has proven the case, over a century of building an economy around relative cheap and plentiful fossils fuels creates a very high barrier to change. Both at micro and macro levels.

 

[Brainonska511]

True - but as has proven the case, over a century of building an economy around relative cheap and plentiful fossils fuels creates a very high barrier to change. Both at micro and macro levels.

For sure. It will be difficult because of societal inertia, but I believe better things are possible. Just like the current world wasn't built overnight, the future world will also take time.

We see these changes happening today in some major metro areas that are embracing zoning reforms and transit-oriented development that let and enable people choose to live a more car-lite or car-free life.

 

[Lost_in_the_HTTP]

My county has less than 10, 000 people scattered over a little over 300 square miles. Most of that is agricultural land and most roads are rural, two lane or less without lane markings.

'Mass transit' will never happen. We have a service that has to be scheduled almost a week in advance and charges $1.50 mile. That makes it over $30 just to get TO a grocery store of any size and that again to get home. $35-40 gets me a tank of gas that lasts me over a month usually, sometimes two..

 

[Brainonska511]

My county has less than 10, 000 people scattered over a little over 300 square miles. Most of that is agricultural land and most roads are rural, two lane or less without lane markings.

'Mass transit' will never happen. We have a service that has to be scheduled almost a week in advance and charges $1.50 mile. That makes it over $30 just to get TO a grocery store of any size and that again to get home. $35-40 gets me a tank of gas that lasts me over a month usually, sometimes two..

Bully for you. I'm talking about areas where the majority of people live. Most people live in an urban or suburban environment. If you want to live in the middle of nowhere, that's your choice.

Anyway, even in small town/rural areas, we can just look to the past and pre-auto towns to see how land use was: you can still have a core downtown area with modest density and walkability, and others can live further out if they so choose.