Prices.... Going Up!!!

[geezin']

Like we have a choice
Joke

You do. However most are unwilling to live that life.

 

[YY1]

Our current gas "swing" is 2.99 to 3.19.

Six months ago, was 3.05 to 3.69.

Timing the swing is not easy but I've only had to buy at the top once in over a year.

Fortunately, I'm often at or neat the bottom.

 

[SolderIron]

And then just a few minutes ago I see this @ Trading Economics re Gasoline (under commodities trading) yesterday:

"US gasoline futures fell to $1.96 per gallon, the lowest in over a week, after data showed a significant increase in gasoline inventories.

Stocks rose by 3.3 million barrels to 212.2 million barrels last week, defying expectations for a small draw of 46,000 barrels, according to the EIA.

This added pressure to an already weak gasoline market, which has been impacted by declining oil prices.

Oil markets are reacting to a ceasefire agreement between Israel and Hezbollah, brokered by the US and France, which came into effect on Wednesday.

Attention is now shifting to Sunday’s OPEC+ meeting, where members are reportedly considering delaying a planned output increase to address concerns of oversupply."

Zero chance I will see $1.96 at the pump. It is a wet dream

 

[spicer]

And then just a few minutes ago I see this @ Trading Economics re Gasoline (under commodities trading) yesterday:

"US gasoline futures fell to $1.96 per gallon, the lowest in over a week, after data showed a significant increase in gasoline inventories.

Stocks rose by 3.3 million barrels to 212.2 million barrels last week, defying expectations for a small draw of 46,000 barrels, according to the EIA.

This added pressure to an already weak gasoline market, which has been impacted by declining oil prices.

Oil markets are reacting to a ceasefire agreement between Israel and Hezbollah, brokered by the US and France, which came into effect on Wednesday.

Attention is now shifting to Sunday’s OPEC+ meeting, where members are reportedly considering delaying a planned output increase to address concerns of oversupply."

With oil everywhere it's hard to keep those prices up.

 

[harman/kardon]

I always smile about your laments about your gas prices. It is actually stunning. I am paying currently around 6.50 Euros per gallon.

6.50 Euros. Enjoy.

So 318 HP Chevrolet "Traverse" SUV are pretty rare on European streets.

 

[Oasis8]

Here in Australia it swings between $1.90 and $1.60 a litre in 4 week cycles, so at the top that's $7.18AUD for a US Gallon.
It's only come down by 40c per litre a few months ago.
We are not complaining.

 

[rickb119]

Here's a chart of gas prices from '91-present. I assume those are nationwide averages, with some states higher, and some lower.

U.S. Regular All Formulations Retail Gasoline Prices (Dollars per Gallon)

I do recall the '08 $4+ prices.

 

[DesertRatt]

California traditionally has the highest gas prices in the contiguous United States.

True. This is because we have mandated special low pollution blend, and because we have different gas for summer and winter. It's a good thing - pollution kills.

The Difference Between Summer-Blend and Winter-Blend Gasoline

We’re talking about the cost differences between summer and winter gasoline along with how to save money on your fill-up.

www.gasbuddy.com

 

[DesertRatt]

Here in Australia it swings between $1.90 and $1.60 a litre in 4 week cycles, so at the top that's $7.18AUD for a US Gallon.
It's only come down by 40c per litre a few months ago.
We are not complaining.

Being 31st in oil production and being an island probably has something to do with those high gas prices.

 

[harman/kardon]

Here in Australia it swings between $1.90 and $1.60 a litre in 4 week cycles, so at the top that's $7.18AUD for a US Gallon.
It's only come down by 40c per litre a few months ago.
We are not complaining.

Same here. Approximately.

 

[Oasis8]

Being 31st in oil production and being an island probably has something to do with those high gas prices.


View attachment 3357410

The point I was making is we don't complain about it, I'm on a pension and even I don't complain.

 

[Pio1980]

Again, cost of production vs supply and demand, not disregarding greed and industrial price collusion.
Take it to the bank that nobody ever made a living selling over cost of production. For example, drilling and pumping more oil than is sold and exported makes no sense whatsoever, and only creates a surplus that lower prices below cost of production.

 

[SolderIron]

A Swiss roll was priced $5+ approx 2 years ago. Bought home one for $8+ yesterday. That is a huge inflation.

 

[Mystic]

I always smile about your laments about your gas prices. It is actually stunning. I am paying currently around 6.50 Euros per gallon.

6.50 Euros. Enjoy.

So 318 HP Chevrolet "Traverse" SUV are pretty rare on European streets.

Yep, about the same in France. It's a bit cheaper -- around 30 "euro" cents per gallon -- in Luxembourg, which is where I fill 'er up one a week.

 

[spicer]

Here in Australia it swings between $1.90 and $1.60 a litre in 4 week cycles, so at the top that's $7.18AUD for a US Gallon.
It's only come down by 40c per litre a few months ago.
We are not complaining.

Why not. At what point might you complain. What ever the market will bear comes to mind, complaining might be the pushback as to where it settles. Fuel, it is energy. There's a perspective here, curious about it.

 

[Oasis8]

Why not. At what point might you complain. What ever the market will bear comes to mind, complaining might be the pushback as to where it settles. Fuel, it is energy. There's a perspective here, curious about it.

It is not under my control, or the government, OPEC set the prices.

"Crude oil is the most valuable commodity by trading turnover and one of the most widely used. In a world with many consumers and producers, a single country or organization can no longer "control" crude oil prices set in highly liquid global markets."

 

[Dingman]

Again, cost of production vs supply and demand, not disregarding greed and industrial price collusion.
Take it to the bank that nobody ever made a living selling over cost of production. For example, drilling and pumping more oil than is sold and exported makes no sense whatsoever, and only creates a surplus that lower prices below cost of production.

Farmers here in Iowa have experienced exactly that. I'm including the hog producers.

 

[YY1]

Thought about switching coffee brands last week.
Price checked the new desired brand. Nope.
Current brand (Chock Full O' Nuts) was $8.99 two years ago, then jumped to $10.61 (!?!).
Major brands (Folgers, Maxwell House) had been 10.99-12.99.
Our brand eventually realized their error and repriced at 9.89.
Last week they were back to 10.61.
Major brands at 14.99.
The new consideration (Community) is 16.99!

 

[spicer]

It is not under my control, or the government, OPEC set the prices.

"Crude oil is the most valuable commodity by trading turnover and one of the most widely used. In a world with many consumers and producers, a single country or organization can no longer "control" crude oil prices set in highly liquid global markets."

I see.

 

[Oasis8]

With other commodities the best you can do is shop for the lowest prices, only loss of sales will motivate businesses and corporations, unfortunately with the prevalence of many businesses falling under the ownership of single corporations this even can have a limited effect.