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Registered
Join Date: Dec 2001
Location: Cambridge, MA
Posts: 44,285
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Why is gas so cheap?
Paying $3.29 for regular, $3.65 for 93.
Would think that with the Middle East in turmoil, we'd be at $4/gallon for 87.
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Tru6 Restoration & Design |
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Registered
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$2.99 here for the cheap stuff.
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Registered
Join Date: Jul 2005
Location: Seattle
Posts: 5,823
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Pththt. We're just starting to get below $4/gal here in Seattle again.
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'85 911. White - 53,000 miles bought 3-16-07. "Casper" '88 924S. Blue - 120k miles bought with 105k miles. '94 968 Coupe - White - 108,000 miles bought 9-28-17 '09 Cayman - Grey - bought 9-8-20 |
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Cogito Ergo Sum
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3.07 here in the valley of the sun! I ain't complaining!
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Control Group
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Election in November
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She was the kindest person I ever met |
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Unregistered
Join Date: Aug 2000
Location: a wretched hive of scum and villainy
Posts: 55,652
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Quote:
Last i checked it was $92 bbl WTI which is way off what it's been recently. Bout $10 lower than last year. On top of that the demand for gasoline has remained level or dropped slightly and the supply is strong, so prices are falling. It has nothing to do with politics unless we're talking taxes. U.S. Energy Information Administration (EIA) ![]() Last edited by sammyg2; 09-29-2014 at 10:51 AM.. |
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"O"man(are we in trouble)
Join Date: Nov 2005
Location: On the edge
Posts: 16,452
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Registered
Join Date: Oct 2005
Location: Capistrano Beach, Ca.
Posts: 7,235
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Don't get too excited. It won't be long before you'll see refinery closures for "seasonal maintenance", "winter fuel conversion," "pipeline problem," or unexplained "accident/fire" which will cause a temporary shortage and a price increase. At least that seems to be the pattern here in Ca.
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L.J. Recovering Porsche-holic Gave up trying to stay clean Stabilized on a Pelican I.V. drip |
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Unregistered
Join Date: Aug 2000
Location: a wretched hive of scum and villainy
Posts: 55,652
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Quote:
Refineries do scheduled maintenance. Every operating unit has to be overhauled to replace thin piping, work out machinery, etc. That interval can be from 18 months (catalyst regeneration in a platinum reformer unit) to 5 or 6 years for a fluild catalytic cracking unit. The cost can get over $120 million each. They do that to prevent explosions and fires. It is the safest manufacturing industry in the US now, but wasn't always that way. The planning for an outage such as this takes at least two years to fully plan and prepare for. They almost always take place in the winter months when demand is lowest in order to have the least impact possible on the market. To do otherwise would probably land someone in prison. The gubmint knows when these turnarounds are planned well in advance. The only manipulation that goes on is to make sure than too many refineries are not down at the same time. This is the most closely regulated industry there is outside hte nuclear generating industry. The gubmint is inside the refineries every single day, watching. Making sure there is no funny biddness. Otherwise someone goes to prison. So loosen up the tin foil hat, refineries DO NOT and CANNOT manipulate the market in the US. Oh and the switch from winter to summer blends? Not our idea, we think it's a waste of time. But the gubmint MANDATES IT. They say we gotta do it so we do it. And yes it can disurupt the supply temporarily. Thank sacramento for that. |
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Parrothead member
Join Date: Jul 2003
Location: Monmouth county, NJ USA
Posts: 13,829
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Under $3.00 around here.
Unfortunately, the marinas havent come down at all with their prices. ![]()
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Vinny Red '86 944, 05 Ford Super Duty Dually '02 Ram 3500 Diesel 4x4 Dually, '07Jeep Wrangler '62 Mercury Meteor '90 Harley 1200 XL "Live your Life in such a way that the Westboro Baptist Church will want to picket your funeral." |
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300hp 1800lbs is the goal
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$1.15/L here for Reg. It's gone down 4cents in the past couple weeks.
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The '66 912 Bastardization project has begun. Note to PO's: LAY OFF THE FREAKING BONDO!!!! The science was settled: Earth was flat. Galileo : Flat Earth denier. ![]() |
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Registered
Join Date: Jun 2001
Location: Sweden
Posts: 5,910
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is it? 7.73$ a gallon here...
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Thank you for your time, |
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Control Group
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It is not the refineries manipulating anything that I am talking about Sam. The government can affect when these changes take effect, n'est pas?
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She was the kindest person I ever met |
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Driver, not Mechanic
Join Date: May 2013
Location: SF Bay Area
Posts: 3,002
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Supply: US now producing more than ever. If I'm not mistaken, US is also exporting.
Demand: China slowing down. Floor: As I understand it, if it goes below a certain price per barrel it is no longer worthwhile for companies to produce. I just don't know what that floor is, but it has to stop at some point. |
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závodník 'X'
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Who's calling it cheap? Its not the commodity, its a taxes jack.
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“When these fine people came to me with an offer to make four movies for them, I immediately said ‘yes’ for one reason and one reason only… Netflix rhymes with ‘wet chicks,'” Sandler said in a prepared statement. “Let the streaming begin!” - Adam Sandler |
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Registered
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i pay $7.49 a gallon for leaded 112 octane.
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-mike |
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muck-raker
Join Date: Jan 2009
Location: Coastal PNW
Posts: 3,059
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you know our situation must be pretty dire when we start considering $3.00 per gallon as "inexpensive". Big Oil and the U.S. Government know exactly how to play their sheep.
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STONE '88 Cabriolet, using EP Slick 20w50 partial synthetic Snake Oil...just as Rommel intended. ![]() Deny Everything; Admit Nothing; and Always Make Counter-accusations ![]() |
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závodník 'X'
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The cooperation of big oil and gov. is pathetic. Gov. loses billions in tax rev' if the retail cost drops. They don't want to lose sight of that revenue, now would they? Its really interesting to see as the mid-east is in a most volatile situation, the Russia and Ukraine conflict and that the US can hold their breath on domestic fuel retail cost. Normally we'd see price hikes. To me its a cautionary price arrangement with Big Oil and USA, Inc. Call it skidish... the reason its slightly lower is the economy is more fragile than the sheep know. We can ride the Ponzi scheme markets but its only a matter of time and how long. When the day comes of stock sell off, the middle class is way beyond their means and will be crushed. Its also why they didn't raise borrowing rates last week.
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“When these fine people came to me with an offer to make four movies for them, I immediately said ‘yes’ for one reason and one reason only… Netflix rhymes with ‘wet chicks,'” Sandler said in a prepared statement. “Let the streaming begin!” - Adam Sandler |
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Just thinking out loud
Join Date: Nov 2001
Location: Close by
Posts: 6,884
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Quote:
Taxes are levied against the gallon, not the total cost to the consumer. So it doesn't matter what the price is, they still get $.xx cents per gallon. Right now the federal gasoline tax is 18.4 cents per gallon. Diesel is 24.4. State and local taxes vary, but they also are levied by the gallon. Paid $2.95 9/10ths this afternoon. Now if you are talking corporate taxes, that is different.
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83 944 91 FJ80 84 Ram Charger (now gone) Last edited by mattdavis11; 09-29-2014 at 01:55 PM.. |
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