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cdennisg
Samba Member
Joined: November 02, 2004
Posts: 20278
Location: Sandpoint, ID
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 Posted: Wed Apr 08, 2020 8:09 am Post subject: Re: Gas prices where you are |
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| Abscate wrote: |
It follows crude , which is at $20
Buying oil futures right now is a sure thing if you have some cash to gamble with. |
I know, that is why I asked. At some point, the actual cost of making fuel from crude will take over and either shorten supply (and raise prices) or the cost of crude will go so low it will almost be free.
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Abscate
Samba Member
Joined: October 05, 2014
Posts: 22668
Location: NYC/Upstate/ROW
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| Posted: Wed Apr 08, 2020 9:49 am Post subject: Re: Gas prices where you are |
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Its pretty much reached the bottom. At this point, refineries will close, and the supply chain gets weird. there is a premium for ships right now because oil is being pumped with no where to go.
The time is now to be buying for the Strategic Oil Reserve.
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Q-Dog
Samba Member
Joined: April 05, 2010
Posts: 8700
Location: Sunset, Louisiana
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| Posted: Wed Apr 08, 2020 11:08 am Post subject: Re: Gas prices where you are |
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The Strategic Petroleum Reserve was critical when we were getting most of our oil from foreign sources. Now that we have over developed our domestic resources, we have plenty in the ground here in the US with no market for it. As such, the SPR has no real use other than as corporate welfare for the domestic petroleum business. Unless, of course, we fill it with even cheaper foreign oil.
Fun fact, actual hard costs for a barrel of Crude from Saudi Arabia is rumored to be around $5. Domestic US producers say they can't make money with the price below $25 or $30. At $15 the Saudis can still make money, so they could run almost every other producer out of business if they wanted to. The main thing keeping them from pumping more at this point is, all the ships are full with nowhere to unload.
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Brian
'69 Dune Buggy
'69 Beetle Convertible
'70 Beetle |
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Stanagon
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Joined: July 11, 2003
Posts: 4186
Location: Boston, MA
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Igpoe
Samba Member
Joined: February 24, 2019
Posts: 853
Location: South Boston, VA
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| Posted: Wed Apr 08, 2020 12:55 pm Post subject: Re: Gas prices where you are |
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| I just filled up 1/4 mile from home.......$1.209 |
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Abscate
Samba Member
Joined: October 05, 2014
Posts: 22668
Location: NYC/Upstate/ROW
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| Posted: Thu Apr 09, 2020 5:40 am Post subject: Re: Gas prices where you are |
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It is kind of like N95 masks.
They do age and you have to rotate stock, but keeping oil around for these crises is not a bad idea, even when you don't think you need them now.
SRO capacity is about 1B barrels, and we use about 20M a day. Thats about 50 days reserve.
I would argue that six months supply would be a good number for pandemic - remembering that the average daily shoots up in winter for parts of the country.
You audit the companies and pay them cost plus reasonable profit on operations to fill that, in times like these. You can do the same for the Saudis and Iran.
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Zundfolge1432 
Samba Member
Joined: June 13, 2004
Posts: 12467
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| Posted: Thu Apr 09, 2020 1:55 pm Post subject: Re: Gas prices where you are |
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| 1.17 per gallon or 1.13 for e10 if you use Costco visa. |
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Zundfolge1432
Samba Member
Joined: June 13, 2004
Posts: 12467
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| Posted: Thu Apr 09, 2020 2:00 pm Post subject: Re: Gas prices where you are |
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| Stanagon wrote: |
| Ceckert64 wrote: |
| Just filled my 1970 Squareback for the first time in 44 years at a gas station, $1.54 I think for the cheap stuff |
Any idea what that last fill up cost?, in 1976? |
Gas was about 59 cents per gallon in 1976. I was driving a 74 VW bug and loving it. We used Ammoco white gas which clocked in at about 96 octane. You could bump timing up a few degrees and run higher compression. Good times  |
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Q-Dog
Samba Member
Joined: April 05, 2010
Posts: 8700
Location: Sunset, Louisiana
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| Posted: Thu Apr 09, 2020 2:43 pm Post subject: Re: Gas prices where you are |
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I am hearing that OPEC has agreed to cut production by 10%, which is 10 million barrels a day. But, as I write this, a formal agreement hasn't been signed. It seems they don't really have a choice. There are full tanker ships sitting offshore with no place to unload.
The head of one domestic oil producer's trade group says US producers will have to cut 70% of jobs if the price of oil remains below $40 per barrel for much longer. It is likely domestic production will also have to be cut. They are predicting 50% of existing wells may need to be shut in.
Price of oil went down again today in spite of the OPEC pledge to cut production. Gasoline futures also went down today, so fuel prices at the pump may not have yet hit bottom.
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Brian
'69 Dune Buggy
'69 Beetle Convertible
'70 Beetle |
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Abscate
Samba Member
Joined: October 05, 2014
Posts: 22668
Location: NYC/Upstate/ROW
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| Posted: Fri Apr 10, 2020 5:35 am Post subject: Re: Gas prices where you are |
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| Zundfolge1432 wrote: |
| Stanagon wrote: |
| Ceckert64 wrote: |
| Just filled my 1970 Squareback for the first time in 44 years at a gas station, $1.54 I think for the cheap stuff |
Any idea what that last fill up cost?, in 1976? |
Gas was about 59 cents per gallon in 1976. I was driving a 74 VW bug and loving it. We used Ammoco white gas which clocked in at about 96 octane. You could bump timing up a few degrees and run higher compression. Good times |
It looks cheaper on paper but inflation adjusted it is as cheap as it ever was, today.
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Stanagon
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Joined: July 11, 2003
Posts: 4186
Location: Boston, MA
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Zundfolge1432
Samba Member
Joined: June 13, 2004
Posts: 12467
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| Posted: Fri Apr 10, 2020 1:27 pm Post subject: Re: Gas prices where you are |
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| Abscate wrote: |
| Zundfolge1432 wrote: |
| Stanagon wrote: |
| Ceckert64 wrote: |
| Just filled my 1970 Squareback for the first time in 44 years at a gas station, $1.54 I think for the cheap stuff |
Any idea what that last fill up cost?, in 1976? |
Gas was about 59 cents per gallon in 1976. I was driving a 74 VW bug and loving it. We used Ammoco white gas which clocked in at about 96 octane. You could bump timing up a few degrees and run higher compression. Good times |
It looks cheaper on paper but inflation adjusted it is as cheap as it ever was, today. |
Yes I remember 1973 and just how pissed everyone was. As a small boy I remember gas below 25 cents. Think of that |
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Igpoe
Samba Member
Joined: February 24, 2019
Posts: 853
Location: South Boston, VA
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| Posted: Fri Apr 10, 2020 3:06 pm Post subject: Re: Gas prices where you are |
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| We were having a local gas war early in 1971. I bought gas for my yellow sunroof '70 bug for $0.179. My gf lived 14.6 miles away, no matter 'cuz I worked at the Sunoco on weekends for $1.65 per hr! |
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jeffrey8164
Samba Member
Joined: January 06, 2018
Posts: 3818
Location: Georgia
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| Posted: Fri Apr 10, 2020 7:49 pm Post subject: Re: Gas prices where you are |
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Volkswagen!
Turning owners into mechanics since 1938.
“Let he that is without oil throw the first rod”
(Compression 8.7:1) |
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Zundfolge1432
Samba Member
Joined: June 13, 2004
Posts: 12467
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| Posted: Sun Apr 12, 2020 9:16 am Post subject: Re: Gas prices where you are |
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| We got QT here too. They are gouging People at around 1.39 but Sams or Costco is 1.13 that’s quite a spread. About 2 weeks ago QT was pandering to the fearful selling toilet paper and hand sanitizer at inflated prices. They lost me as a customer. |
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60vwnewengland
Twin #2
Joined: June 25, 2003
Posts: 1784
Location: District of Columbia & Cape Cod
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| Posted: Sun Apr 12, 2020 7:44 pm Post subject: Re: Gas prices where you are |
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$2.09 at the Speedway on Rt. 28 in Orleans, Ma.
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jeffrey8164
Samba Member
Joined: January 06, 2018
Posts: 3818
Location: Georgia
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| Posted: Sun Apr 12, 2020 8:30 pm Post subject: Re: Gas prices where you are |
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Sam’s Club and Costco don’t count cause you gotta pay to shop there.
I’m with you on QT but I blame municipal government more. The QT near my house was $1.79. This QT was 15 miles away in another county and I was struck by the difference.
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Volkswagen!
Turning owners into mechanics since 1938.
“Let he that is without oil throw the first rod”
(Compression 8.7:1) |
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Abscate
Samba Member
Joined: October 05, 2014
Posts: 22668
Location: NYC/Upstate/ROW
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| Posted: Mon Apr 13, 2020 5:04 am Post subject: Re: Gas prices where you are |
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You can see inflation adjusted gas prices at the epa site
It is at an all time low by a huge margin
https://www.energy.gov/eere/vehicles/fact-915-marc...-1929-2015
Remember there is a huge difference in taxes between states
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Zundfolge1432
Samba Member
Joined: June 13, 2004
Posts: 12467
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| Posted: Mon Apr 13, 2020 11:44 am Post subject: Re: Gas prices where you are |
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| jeffrey8164 wrote: |
Sam’s Club and Costco don’t count cause you gotta pay to shop there.
I’m with you on QT but I blame municipal government more. The QT near my house was $1.79. This QT was 15 miles away in another county and I was struck by the difference. |
I’ve noticed that disparity as well, QT gas always higher is less affluent areas. The membership fee for Sam & Costco is always recouped in gasoline costs and using their cash back credit card. The difference in pricing should reveal just how bad they are screwing people. I realize it’s aimed at a certain demographic. QT can go to hell. |
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TDCTDI
Samba Advocatus Diaboli
Joined: August 31, 2013
Posts: 12856
Location: North Carolina
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| Posted: Mon Apr 13, 2020 12:32 pm Post subject: Re: Gas prices where you are |
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| jeffrey8164 wrote: |
Sam’s Club and Costco don’t count cause you gotta pay to shop there.
I’m with you on QT but I blame municipal government more. The QT near my house was $1.79. This QT was 15 miles away in another county and I was struck by the difference. |
I disagree, I use the warehouse memberships to buy & save on other goods, that are significantly lower than grocery stores. I usually recoup my membership dues in a couple trips. The lower fuel prices are just a bonus, to me anyway.
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Everybody born before 1975 has a story, good, bad, or indifferent, about a VW.
GOFUNDYOURSELF, quit asking everyone to do it for you!
An air cooled VW will make you a hoarder.
Do something, anything, to your project every day, and you will eventually complete it. |
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