Poultrygeist
Lunatic Member
It's disastrous for us old folks.
The Great Value 64 oz prune juice at Walmart is now over five bucks!
The Great Value 64 oz prune juice at Walmart is now over five bucks!
Prices.... Going Up!!!
- Thread starter musichal
- Start date
This inflation is across the board and all industries. Ripple effect due to energy costs and supply chain issues.
Example: pump I purchased at work for a system was $749 in August 2020. Just purchased another and it's now $1473.
Materials cost for parts we manufacture is up on average 30% in the past 1.5 years. Since everything I do is Mil DoD. We'll pass this on to our customers, YOU! American tax dollars....
Wheels on the bus go round 'n round.....
Example: pump I purchased at work for a system was $749 in August 2020. Just purchased another and it's now $1473.
Materials cost for parts we manufacture is up on average 30% in the past 1.5 years. Since everything I do is Mil DoD. We'll pass this on to our customers, YOU! American tax dollars....
Wheels on the bus go round 'n round.....
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Mystic
We're all born mad
A few words and graphs re: Natural Gas over the last decade (or so).
Fact: The United States is the largest consumer of natural gas in the world.
Natural gas production in the US hasn’t been sufficient to meet domestic demand since the 1960s, causing the U.S. to import NG from Canada purchase LNG from other countries. Fracking came along and changed the equation, and domestic NG production began to soar, along the way seeing the USA become the largest producer of natural gas in the world. By December 2021, NG production in the USA reached 118.8 billion cubic feet per day:
US NATURAL GAS PRODUCTION (billion cubic feet per day), 2010-2021
Source: U.S. Energy Information Administration (EIA)
The influx of new fracking sources coming online in Q4 2016 and thus a marked increase in daily production circa Q3 2017 is evident in the (above) graph.
As a result of fracking, USA became a net EXPORTER of NG in 2017, and by 2021 set a record of exporting 6.65 trillion CF in a single year.
US NATURAL GAS: EXPORTS & IMPORTS (trllion cubic feet per year), 1985-2021
Source: U.S. EIA
The USA's largest NG export market was Mexico, while approximately 30% go to Canada. However, on net, the USA imports more from Canada than it exports to Canada.
In 2021, the USA exported approximately 2.6 trillion CF of LNG to Mexico alone, but between 2019 and 2021 exported another 7-10 billion CF to a list of nations, the top 12 of which are:
US EXPORT VOLUMES (billion CF) OF NATURAL GAS: TWELVE LARGEST RECIPIENTS, 2021
Source: U.S. EIA
In light of the RUSSIAN EMBARGO of NG to EU states, the USA serving as a main supplier of LNG to Europe will be tight as there is not presently much excess capacity in US LNG production operations unless fracking and/or piped NG from Canada is increased UNLESS major LNG shipments are shifted away from other existing customers -- most notably South Korea, China & Japan -- and diverted to European Union states. LNG export capacity can be increased, but it still takes time, as will ramping up increased export capacity.
And all of the above will certainly result in a diminishing spare capacity for US domestic markets .... and the American people.
premium gas hit $8.50 a gallon here today
Wow, I guess I ain't gonna be traveling literally 8 hours from anywhere anytime soon ........
mfrench
Addicted Member
And this week, $6.70 for the same quart of heavy cream.
premium gas hit $8.50 a gallon here today
Wow, I guess I ain't gonna be traveling literally 8 hours from anywhere anytime soon ........
Mystic
We're all born mad
premium gas hit $8.50 a gallon here today
Yikes, that's as bad/worse than the PPG (in USD) of so-called premium petrol in France.
Where (or about where) are you in USA?
Mystic
We're all born mad
Gasoline & Diesel Costs in America @ 14 May 2022 (source: U.S. Energy Information Administration)
GASOLINE
National average all grades gasoline: $4.33 per US gallon
DIESEL
National average "highway" (i.e., #2) diesel: $5.62 per US gallon
MEAN RETAIL PPG GASOLINE: 2006 - 14 MAY 2022
Source: U.S Energy Information Agency (EIA)
MEAN RETAIL PPG DIESEL (#2): 2006 - 14 MAY 2022
Source: U.S Energy Information Agency (EIA)
DISCONNECT b/w WEST TEXAS INTERMEDIATE (WTI) FUTURES AND GASOLINE PUMP PRICE
WTI futures have been in the $100-105/bbl range for several weeks and on 14 May 2022 ended at $102/bbl -- i.e., at the lower end of trading since the last week of Fenruary 2022 and far below the mean monthly per barrel price for all of 2013, 2014, and well below the $150/bbl peak of July 2008.
What's going on here?
A THEORY
The gap between record-high gasoline and diesel prices of 14 May 2022 and the current record-low crude oil prices may be indication of a firmly-established inflationary mindset among American consumers where, economists argue, consumers obligingly pay ever-increasing prices, regardless of justification or not, without complaint. At the same time logistics services, e.g., trucking, are obliged to pay higher prices which, via the retail pricing of the goods they convey, are also passed on to consumers. And since the demand for goods and services, in spite of spiraling inflation, has remained firm, the market(s) experience no demand destruction that might cause the price of fuels and thus goods and services to be reduced... irrespective of the per barrel cost of crude oil.
Recall that this is theory, not opinion.
GASOLINE
National average all grades gasoline: $4.33 per US gallon
DIESEL
National average "highway" (i.e., #2) diesel: $5.62 per US gallon
MEAN RETAIL PPG GASOLINE: 2006 - 14 MAY 2022
Source: U.S Energy Information Agency (EIA)
MEAN RETAIL PPG DIESEL (#2): 2006 - 14 MAY 2022
Source: U.S Energy Information Agency (EIA)
DISCONNECT b/w WEST TEXAS INTERMEDIATE (WTI) FUTURES AND GASOLINE PUMP PRICE
WTI futures have been in the $100-105/bbl range for several weeks and on 14 May 2022 ended at $102/bbl -- i.e., at the lower end of trading since the last week of Fenruary 2022 and far below the mean monthly per barrel price for all of 2013, 2014, and well below the $150/bbl peak of July 2008.
What's going on here?
A THEORY
The gap between record-high gasoline and diesel prices of 14 May 2022 and the current record-low crude oil prices may be indication of a firmly-established inflationary mindset among American consumers where, economists argue, consumers obligingly pay ever-increasing prices, regardless of justification or not, without complaint. At the same time logistics services, e.g., trucking, are obliged to pay higher prices which, via the retail pricing of the goods they convey, are also passed on to consumers. And since the demand for goods and services, in spite of spiraling inflation, has remained firm, the market(s) experience no demand destruction that might cause the price of fuels and thus goods and services to be reduced... irrespective of the per barrel cost of crude oil.
Recall that this is theory, not opinion.
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YY1
Addicted Member
A station I pass on my drive to work has $4.13
I bought $4.09 at the end of last week, although I haven't been back past that station to see if it went up.
The tank previous to the $4.09 was advertised on the sign as $4.08, but was actually $4.01 at the pump!
I still have not had to fill a tank with $4.29 or $4.19 yet. (There was $4.39 for a few weeks here and I didn't get that either).
I also have 2 cars a truck and a scooter.
I did put $3 of $4.19 in the scooter over the weekend. Gotta LOVE 78 MPG.
The truck still has $3.99 and $3.59 in it!
I pass four different major retailers on my way to and from work.
When I see one "get a truck" and increase their price, I go to another one and get the lower cost before they get theirs.
No matter how much I have in the tank.
One major retailer I don't pass is only one block from home the other direction.
It's not on as busy a road and frequently has "cheaper" gas for a few days after most others get their truck with higher cost gas.
I bought $4.09 at the end of last week, although I haven't been back past that station to see if it went up.
The tank previous to the $4.09 was advertised on the sign as $4.08, but was actually $4.01 at the pump!
I still have not had to fill a tank with $4.29 or $4.19 yet. (There was $4.39 for a few weeks here and I didn't get that either).
I also have 2 cars a truck and a scooter.
I did put $3 of $4.19 in the scooter over the weekend. Gotta LOVE 78 MPG.
The truck still has $3.99 and $3.59 in it!
I pass four different major retailers on my way to and from work.
When I see one "get a truck" and increase their price, I go to another one and get the lower cost before they get theirs.
No matter how much I have in the tank.
One major retailer I don't pass is only one block from home the other direction.
It's not on as busy a road and frequently has "cheaper" gas for a few days after most others get their truck with higher cost gas.
orsen
Jukebox Hero
thunder bay ontario
this city borders with a native reserve,they get tax breaks that we dont. many will go there to gas up. it wont be as cheap as they get it, but is still significantly cheaper than in town.
many wont have that choice
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Mystic
We're all born mad
Yeah ... your per/L costs are up there w/ the best (read: worst) of France. I live on the France~Luxembourg border and thus gas up in Lux, where all fuels are around 8-9 (euro) cents per?L cheaper than in France. Still effin' expensive.
Filled up at Costco yesterday at $3.89 for regular, but it was up to $3.94 when we shopped a few hours later. Surrounding stations were $4.29, except Sam's Club and BJ's Wholesale which were also $3.89. It's nice to live close to clubs battling for market share...
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orsen
Jukebox Hero
orsen
Jukebox Hero
Wow, I guess I ain't gonna be traveling literally 8 hours from anywhere anytime soon ........
Duluth, MN is about 5 hours from here, but thats a different country. we can literally drive in any other direction for 8 hours and still be nowhere
Regular was at $3.79 for several weeks last month. Dropped to $3.69 for a few days recently. Today, $3.99.
