$3.69-$3.89 Where/when does it end?

[Darrell]

On 8/7/2022 at 8:04 AM, Erik88 said:

If almost feels like price fixing. Are gas stations choosing not to lower their prices in certain areas

I believe, but am not certain, that the major gasoline companies dictate the prices at the various stations. I believe I read that years ago. In other words, your local Shell station / convenience store doesn't set its own prices. I image that some of the independent stations get to, though. 

[Smith]

4 hours ago, Darrell said:

I believe, but am not certain, that the major gasoline companies dictate the prices at the various stations. I believe I read that years ago. In other words, your local Shell station / convenience store doesn't set its own prices. I image that some of the independent stations get to, though. 

Gas prices are speculative. Gas stations buy it from the distributor at the price at the time. The variance comes from when the gas station bought the reserves. Some stations buy up front when prices are low on contract and so pump prices stay lower longer. Some have to buy when they can and buy at the price of the moment. It's no different than any other commodity. 

[OLDNEWBIE]

On 7/22/2022 at 8:45 PM, gregintenn said:

We’re back down to the prices the OP was complaining about, but now we’re happy about it. Perspective is a funny thing.

It's like Stockholm Syndrome. Torture us with crippling prices for ages then back off a bit with the pain pretending compassion. The memory of why this is all happening in the first place and how bad it was is erased by the relief felt. 

Well my memory is strong and I'm not feeling gratitude. 

[AuEagle]

On 7/22/2022 at 9:45 PM, gregintenn said:

We’re back down to the prices the OP was complaining about, but now we’re happy about it. Perspective is a funny thing.

Prices aren't down. They're still up $1.30-1.40 since 2020.

Maybe you're happy, me & many others aren't.

Edited September 23, 2022 by AuEagle
Typo

[Links2k]

It is what it is. This is something we cannot change. The major oil companies held the line and made record profits. As usual some of you are angry at the wrong person.  If you’re really angry, stop buying gas. Capitalism baby!

[Erik88]

1 hour ago, AuEagle said:

Prices aren't down. They're still up $1.30-1.40 since 2000.

Is that a typo? Of course gas is higher than 22 years ago. 

[AuEagle]

5 minutes ago, Erik88 said:

Is that a typo? Of course gas is higher than 22 years ago. 

Yep, should be 2020. 

[Erik88]

The dip in prices might be short lived. 

 

https://www.newsnationnow.com/business/your-money/opec-oil-production-cut/

 

 

[RED333]

The economy lost over 1,000,000 jobs listed today. The next cycle will be layoff.

[AuEagle]

Unleaded $2.92-$2.99 Wednesday

$3.02-$3.29 Today, Friday.

Lets Go Brandon.

[Moped]

13 minutes ago, AuEagle said:

Unleaded $2.92-$2.99 Wednesday

$3.02-$3.29 Today, Friday.

Lets Go Brandon.

Yeah, gas is headed back up and the stock market is headed down. We're all screwed.

[deerslayer]

14 minutes ago, AuEagle said:

Unleaded $2.92-$2.99 Wednesday

$3.02-$3.29 Today, Friday.

Lets Go Brandon.

Begging the Saudis for more oil until November seems to have backfired.  

[Capbyrd]

12 hours ago, Moped said:

Yeah, gas is headed back up and the stock market is headed down. We're all screwed.

Thanks Trump!

[Gnarlytoes]

[AuEagle]

$3.19-$3.49 This Am.

[grasshoppa]

Russia is over there apparently blowing up their own pipelines And infrastructure. Does anybody remember a little while back when the president of United States of America said they would  end the Nord stream pipeline? One way or the other

[gregintenn]

12 hours ago, grasshoppa said:

Russia is over there apparently blowing up their own pipelines And infrastructure. Does anybody remember a little while back when the president of United States of America said they would  end the Nord stream pipeline? One way or the other

I remember.

[gregintenn]

On 10/7/2022 at 1:12 PM, deerslayer said:

Begging the Saudis for more oil until November seems to have backfired.  

There ought to be a law...

[OLDNEWBIE]

News is our president will dip deeper into our strategic oil reserve to calm price hikes again. Jeez this concerns me for two reasons. It fools people into thinking we had a competent energy policy and this is all Putin's fault. People forget prices were going up before Ukraine 

Secondly....it's a strategic oil reserve!

We just might need that for something else than helping boost poll numbers.

[Daniel]

https://www.reuters.com/business/energy/shell-reports-95-bln-profit-q3-plans-raise-dividend-2022-10-27/

that's weird.

 

Quote

Shell on Thursday posted a third-quarter profit of $9.45 billion, slightly below the second quarter's record high, due to weaker refining and gas trading, and said it will sharply boost its dividend by the end of 2022 when its CEO departs.

 

Quote

With a profit of $30.5 billion so far this year, Shell is well on track to exceed its record annual profit of $31 billion in 2008.

 

Quote

Earnings for the second quarter were a record $11.5 billion.

 

 

 

Edited October 28, 2022 by Daniel

[A.J. Holst]

7 hours ago, Daniel said:

that's weird

What's weird about it?

Individual stockholders, 401k, 403b and pension plans  are getting value.

The local Shell gas retailer in the US is far removed from the foreign corp offices.

Best I can tell, revenue is not all derived from oil refined into gasoline, but I am not an expert analyst.

Correct me if I'm wrong, but these oil companies operate on about a 7% margin, I call it the Walmart game - don't try for millions of dollars, simply make zillions of pennies.

Perhaps if .gov didn't makes more per gallon from taxes on a gallon of gas than everyone else in the supply chain, prices are the pump may be lower.

 

[Darrell]

The price of diesel is skyrocketing again, which drives the price of everything you buy at any store. I read that the reserves of diesel are dangerously low right now, too. Yesterday I passed a station posting a price of $5.30 a gallon.   Scary stuff!

[Erik88]

1 hour ago, A.J. Holst said:

What's weird about it?

Individual stockholders, 401k, 403b and pension plans  are getting value.

The local Shell gas retailer in the US is far removed from the foreign corp offices.

Best I can tell, revenue is not all derived from oil refined into gasoline, but I am not an expert analyst.

Correct me if I'm wrong, but these oil companies operate on about a 7% margin, I call it the Walmart game - don't try for millions of dollars, simply make zillions of pennies.

Perhaps if .gov didn't makes more per gallon from taxes on a gallon of gas than everyone else in the supply chain, prices are the pump may be lower.

 

It's weird because people keep blaming the POTUS for this issue while ignoring the fact that big oil is intentionally limiting supply and inflating prices. They are doing all they can to continue making record profits. I'm fairly certain this is happening all the way down to the local level too. We are still paying inflated prices in Knoxville compared to rural areas. I'm sure you've noticed. 

Biden is a confused old idiot but we would be dealing with this same issue if someone else was in office. It's a global commodity and there is only so much that domestic policy can influence. 

 

[FUJIMO]

[AuEagle]

$2.89.9 Reg @ Jays in Sevierville. $2.91.9 @ Wally.

Still $1.30 more than 2 years ago.