Gas prices are... um well, wait a minute

[stevej37]

^^^ Fint.
My car weighs 3K lbs. It goes 40 miles on one gallon of gasoline.
If gas is $4/gal....you have to admit that $4 is a bargain for that amount of transport.

[stevej37]

Originally Posted by cantdrv55

I don't understand this graph. Can someone explain it?

The only thing it shows to me is that with inflation....gas prices have been trending down.

[porschedude996]

Originally Posted by Flat Six

I could be wrong but IIRC both are true -- price jacks up in Kalifornia whenever the switch happens (summer -> winter or winter -> summer) because the refineries slow down/shut down to change blends.

Yet another BS Kalifornia twist. Shut-down, New Blend, reblend, shut down. So if we didn’t change blends we wouldn’t see increases. This State is way out of wack. So why do we have two blends? Because we have environmental wackos in “Sac-a-tomatoes”. The amount good these idiots in Sacramento think they do in a year, is wiped out in 2 seconds in India or China. It increases because of the changes of “Day-Light Savings Time”. Any excuse to tax and milk the public dry.

[fintstone]

Originally Posted by cantdrv55

I don't understand this graph. Can someone explain it?

It appears to me that they adjusted each year's average price with the average annual CPI for Gasoline for that year which gives you a relatively straight line no matter what the prices are.

IMHO, this is how one would normally look at it:

[fintstone]

Looks like things were going pretty well from about 2014 to Jan 2021. Not sure what happened then...

[fintstone]

Good thing our strategic reserves are filled!

OPEC+ announces surprise oil output cuts
By Maha El Dahan and Ahmed Rasheed

DUBAI, April 2 (Reuters) - Saudi Arabia and other OPEC+ oil producers on Sunday announced further oil output cuts of around 1.16 million barrels per day, in a surprise move that analysts said would cause an immediate rise in prices and the United States called inadvisable.

The pledges bring the total volume of cuts by OPEC+, which groups the Organization of the Petroleum Exporting Countries with Russia and other allies, to 3.66 million bpd according to Reuters calculations, equal to 3.7% of global demand....

Read the rest:
https://www.reuters.com/business/energy/sarabia-other-opec-producers-announce-voluntary-oil-output-cuts-2023-04-02/

[jyl]

Congress mandated a 26MM bbl sale from SPR in 2023. https://www.energy.gov/ceser/articles/doe-issues-notice-congressionally-mandated-sale-purchase-crude-oil-strategic

DOE could have refilled the SPR at recent low prices and deferred the mandated sale to later in the year. It should have.

We (USA, America) do not need, nor should we want, oil price to be low. We need, and should want, oil price to be medium-high. We need, and should want. a stable and predictable environment for the sake of both our domestic O&G industry and our renewable energy industries. I think gas around $4-5/gal would be about right.

Admittedly I own a bunch of energy and resources stocks, and drive <5000 miles/year, so I'm not entirely disinterested.

[fintstone]

I am much less concerned with the small amount that Congress mandates to sell each year than the massive amount the Administration sold.

I think $4-$5/gal is way, way too much (except in CA). I don't own energy stick and drive far more than 5000 miles (>5000) per year (often more than that in a month).

[JackDidley]

87 was $3.18 at Sams today.

[JackDidley]

$3.28 and $3.75 at Sams today. Local station was $3.72 for 87.

[stevej37]

Can't win here......$3.79 and $4.59 for prem.
If I go inside the gas station....everything on the shelf/cooler looks like a bargain.

[JackDidley]

Originally Posted by stevej37

Can't win here......$3.79 and $4.59 for prem.
If I go inside the gas station....everything on the shelf/cooler looks like a bargain.

I can not remember the last time I went inside a gas station. It has been at least a year. Maybe 2 or more.

[stevej37]

^^^ It's like a condensed Walmart inside...with women buying Lotto tickets.
(Never go in if you're in a hurry.)

[Brian 162]

Today at a Delta Sonic in Amherst New York

[Evans, Marv]

$4.95/gal. average for regular here. Everybody living in other places with those low prices is lucky. Glad we mostly use the EV. The only time I drive the van is when I have to haul something heavy or big. Had the van for slightly over three years and currently 19.5K miles on the clock. Average of 118 miles/week.

[cantdrv55]

I paid $4.79 per gallon cash at a 7-Eleven here in the SF Bay Area today because it was the cheapest by a long shot and that's for regular!

[JackDidley]

$3.45 and $3.88 at Sams today. 97 only .43 more than 87. Woo Hooo!!

[stevej37]

$3.54 and $4.34 an eighty cent diff here.

The roads are busy with cars...need lots of gas sales to fix the pot-holes.
Our roads are bad this spring.

[stevej37]

Ok...I never heard of this. If it's a 'cash only'...where does it go?

[Evans, Marv]

It's still $4.95 (average) here. I feel bad for the average person working and trying to carry on with life, family and responsibilities with the highest (or one of the highest) prices for gasoline, diesel, and electricity. That's in addition to the inflated prices of everything else.