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

[JackDidley]

Originally Posted by stevej37

Lately I have been using the swipe pad with the four green led lights. When I insert my CC it takes about a minute to start the gas. With the swipe pad...it starts immediately. I like it.

I am just happy I dont have to go inside and pay.

[stevej37]

$2.89/reg $3.89/prem

My Civic gets 40 mpg....so I'm happy with the prem price.

[RNajarian]

10/23/24

Premium is $4.69 on base at Point Mugu

Over $5.00 at stations in Glendale

Too expensive when compared to what I paid in Orlando last summer $3.19

[cockerpunk]

gas right around 2.80 here in minnesota, down about 30 cents over the summer.

real reasonable

[Sooner or later]

Originally Posted by RNajarian

10/23/24

Premium is $4.69 on base at Point Mugu

Over $5.00 at stations in Glendale

Too expensive when compared to what I paid in Orlando last summer $3.19

And the news on the horizon ain't good for you.

Next year the Phillips 66 refinery in Wilmington and Carson gets shut down. Something like about 8% of California gasoline production. It's production will be replaced with gasoline from tankers. Even higher prices. Even higher volatility.

[JackDidley]

$2.63 and $3.31 at Sams this week.

[Racerbvd]

Originally Posted by Sooner or later

And the news on the horizon ain't good for you.

Next year the Phillips 66 refinery in Wilmington and Carson gets shut down. Something like about 8% of California gasoline production. It's production will be replaced with gasoline from tankers. Even higher prices. Even higher volatility.

Can you give us some insight about what is going on and why the shut down?

[Sooner or later]

Originally Posted by Racerbvd

Can you give us some insight about what is going on and why the shut down?

Probably due to California legislation ABX2-1. They think Cali refiners find ways to gouge the public at the pump so they passed the legislation.

I think the legislation requires refiners to build up reserves to minimize the impact of planned or unplanned maintenance shutdowns.. It seems the problem is that there is little to no extra capacity to build that reserve. Also, profit caps.

Valero could also shut one down next year.
https://oilprice.com/Latest-Energy-News/World-News/Valero-Could-Be-Next-To-Shutter-California-Oil-Refineries.html

Last week, Phillips 66 said it would shut down its Los Angeles oil refinery by the end of next year. Now, refining peer Valero Energy Corp is suggesting it could be next.

Valero, the United States’ second-largest refiner by capacity, is keeping all options “on the table” for its two California refineries. According to the company’s Chief Executive Lane Riggs, this is due to the increasing regulatory pressure that has pervaded California.

Much more at link.

[cabmandone]

I think all over the board would best describe it. Yesterday I was in Lima. I saw a station at $2.63 but on the West side of town it was $2.79. Go to Delphos it's $3.19. Most of the stations around Defiance were in the $2.79 range. When I'm drivin the pig (Ford F250 CC 6.2L) I'm lookin for the cheapest price.

[KNS]

Gov Newsom wants to phase out the sale of gasoline vehicles so, indirectly, the closure of refineries gets him closer to that goal. If you own a ICE vehicle in Cali 10 years from now I imagine gas will be very pricey.

If Valero closes along with Phillips 66, those two together account for one fifth of petroleum production in California.

[cockerpunk]

Originally Posted by KNS

Gov Newsom wants to phase out the sale of gasoline vehicles so, indirectly, the closure of refineries gets him closer to that goal.

1. no

2. no, it doesn't


shutting down refineries drives up the price, and oil companies *love* that. less overhead and less employees, same sales = BIG profits.

i love how somehow some section of the population has been convinced that oil companies are not in the business of making money, and so want to pump more oil, with more expensive equipment and people, and sell it for less money, like ... as a favor to you? and big bad government is somehow to blame for this obvious market force at work.

absolutly baffling.

ironically, socializing the oil industry would mean that oil companies would be pumping oil and selling it to you at a lower price, as a favor to you. so like what you want to happen, oil companies pumping oil for the good of society, is somehow evil. but thats the only way that would happen. it wont happen if oil companies have a profit motive.

again, absolutly baffling.

[stevej37]

Another 15 cents down.....$2.74/reg $3.74/prem

[RNajarian]

Just filled up at Naval CBC Port Hueneme, $4.69

Off base $0.60 more.

[chrismorse]

WTF??? Are we looking at super record profits, or is this just a distribution Kink in our capitalist economy????

Not happy,
c

[RNajarian]

October 27, 2024

Oxnard CA

[john70t]

Gasoline prices usually drop every four years. Funny how that works.
As low as $2.64 in Indiana.
Add a dollar for Michigan for the lowest price.

Diesel was still $5.60+. Wow. What happened to cheap biodiesel and whatnot?
The end cost of goods in the stores..to the consumer...
What can be afforded.

I'd imagine a lot of independent truckers are selling their tractors or considering going out of business.

[stevej37]

$2.69/reg $3.69/prem in west MI today.

[Sooner or later]

Regular as low as $2.49.
Premium $2.98
Diesel $2.84

[Bob Kontak]

Originally Posted by stevej37

$2.69/reg

Same at Marathon in North Canton on Cleveland Ave. (near State Rd if interested )

[Sooner or later]

Crude took a big hit today. WTI down 6% to under $69 a barrel.