Lonnies Performance

Our gas in Pittsburgh, Pa went from $3.89 to $4.39 in a week.
Bought some premium last weekend for $4.99.

My question is... why did E85 go up the same amount? if only 15% gasoline it should have gone up $0.07 not $0.50.
I know... because they can.

RandyS

Another point - The US is energy independent! We do not need to import oil to make gasoline. The Big Oil Conglomerate is allowing oil prices to skyrocket. They have over 9000 leases that they can drill on if they want, but they want even more.......... There is no valid reason that the price of brent crude needs to be over $100 per barrel except corporate greed!! They made billions in profit when oil was around $50.00 per barrel. They are using their profits from 2021 for massive share buybacks to further enrich their investors, instead of helping their customers.........

Donaldbabineau

yup, just like any other commodity produced. The producer will get as much as they can for that product.

Donaldbabineau

WAS energy independent. THAT is no longer the case. Leases and issued permits are not the same thing

RandyS

Prove it.........

Donaldbabineau

The post referred to 9000 leases. There are other factors to the "drill baby drill" idea of tapping into those leases. Is there actually viable oil on the lease?, years of environmental analysis to obtain the permit, acquiring right of way to get to the leased area, and a plethora of red tape. It is no coincidence that when currently producing areas were shut down and future sources as well (oil is traded on futures) the price went up. At over $100/barrel, producers would increase production if it were simply a matter of turning a spigot.

cfair

Gas is solidly over $5.20 a gallon here in the Bay Area, near San Francisco, CA. But most local stations will only allow you to put in $100 worth of gas when you use your debit card.

Don't let your 25 gallon oldsmobile tank get to empty or be prepared to swipe twice. So that's a pain, but compounded since we're in relatively new pricing territory:

Bank fraud systems see two gas station card swipes & think "aha stolen debit card!" and soemtimes block the second swipe. Gas stations are historically one of the places thieves go when testing a stolen credit or debit card.

Good reason to have more than 1 card in wallet.

cf

Donaldbabineau

I usually try to fill up at 1/2 tank reading on the gauge which is about 12 gallons. Not sure of the capacity of my tank, but at "E" reading it takes 17 gallons.

Vintage Chief

$5.10/gal road diesel; $4.19/gal low grade, Eastern shore board North Carolina.

fleming442

Screw that and them. I have a gauge; they get 1 swipe.

OLDSter Ralph

How many oil wells are capped ? Capped because the price of oil dropped. Hint: Bakken Wells

HighwayStar 442

https://www.eia.gov/tools/faqs/faq.p...ts%20in%202021.

Donaldbabineau

In 2021 a gallon of gas was about $3. Currently, the US produces about 12 MBPD of crude oil and consumes about 19 MBPD. Gas is currently at about $4.70 per gallon. I do not consider the current numbers reflecting US energy independence. Don't know how to copy links to my phone for the source of information.

RandyS

So, you choose to ignore the FACTS because you don't believe them?

Donaldbabineau

what facts are those? Fact: between 2017 and 2021 we did not have any of these is sure. Fact: between the beginning of 2021 and present day the cost of oil and gas has been going up. Fact: we went from being a net exporter of oil to being a net importer of oil over the same timeframe. You can make your own conclusions.

HighwayStar 442

Gary's 2 442-S

Well said. They are greedy and they know it.

Donaldbabineau

Lease are only property rights to extract oil on a given piece of land. They are not permits. Unless you have a background in knowing the difference between granting a property right and issuance of permits the perfect those rights, please stop citing the 9000 lease comment

RandyS

NOT A FACT. That is what your group calls 'Alternative Facts'. The US is energy independent.

Donaldbabineau

19 MBPD consumed and 12 MBPD produced equals quite a deficit in domestic production. Facts are facts based on measured quantities. Assigning me to a group is really not productive in advancing any meaningful discourse. Is you can fine opposing measurements in production versus consumption, you are welcome to present them. Making general statements without measured statistics is meaningless.

no1oldsfan

I saw a lot of 4.09 and up this morning around south Denver - Littleton area.

redoldsman

This thread is headed for closure. Instead of just posting gas prices it has to get political.

no1oldsfan

That's why I posted a gas price. 👍

fleming442

Gas higher than Cheech and Chong combined.

RandyS

Dude, I simply refer you to post #372. Those are the facts. If you have facts that disprove them, please post. Repeating the same stuff over and over does not make it true.

Donaldbabineau

that was 2021. The stats I posted in # 380 are daily production and consumption rates from 2022 which is what is driving current prices.

rocketraider

What amazes me this morning is gas on VA side of the border is 10-20c higher than on NC side. $4.29 VA, $4.09-$4.19 NC. Used to always be the other way around.

This talk of suspending the state and federal gasoline tax isn't going to accomplish anything except reduce available road maintenance money. Futures speculation is what's driving prices into insanity. The gasoline currently in the ground was purchased for a lot less than $100/barrel, but there's an opportunity to make money and blame it on a crisis-of-the-moment.

fleming442

Winner!

Donaldbabineau

better check you 401 portfolio, if you have one, for energy stocks...you might be complicit.

rocketraider

I am. Still don't much like the cost of filling up and other fuel-cost-driven expenses offsetting the money the retirement plan is making.

Donaldbabineau

yeah, tough to extract ourselves from conflicts in our investments. Most commodities are traded for bottom line profit.

no1oldsfan

So yeah... What are the gas prices in your area?


Please don't shut this post down because of political dribble...

fleming442

I had never considered paying high fuel prices as a 401k contribution 🤔

Loaded68W34

$4.45 - $4.49 regular ~ $5.20 premium. South Central PA (between Philly and Harrisburg). Summer is gonna suck. I run premium in my Toro, Vista, Chevelle, and most likely the holiday coupe once it is finished.

rocketraider

A lot of managed portfolios are heavy in energy stocks. They make me money but right now fuel prices are taking a bigger chunk out of it than I like. Am I paying myself? Maybe, maybe not.

oldcutlass

I look at it as temporary, lived through a few of these since the 70's. What goes up, like gravity will come back down.

OLDSter Ralph

x 2

HighwayStar 442

X3 That how I see it. The only good thing from it in the 70's. I got the chance to drive most of the best muscle cars of the day! Love it!

Smaller gas company is 20 cents cheaper than the big oil.

fleming442

Kennybill

It goes up like a rocket, comes down like a feather.