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Gas/Diesel Prices


coachmac9

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Took a weekend trip up to Iowa last weekend and was amazed and then angered at how much we are paying for gas and diesel in Texas...as soon as we crossed the Red River the prices began to fall. 2. 78 for gas and 2.90 for diesel in Tx and all the way down to 2.25 for gas AND diesel in Iowa...Hmmmm the farther away from the refinery the cheaper it gets??? Really??? Not a happy camper with my home state!!!! :angry:

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I am in Iowa, and I havent seen $2.25 for gasoline for quite some time, but I am glad you found some for that price. On the topic of distance from the refinery or even storage facility, it is my observation that there is no correlation between distance to a refinery or storage facility and the retail price of gasoline or diesel.

 

Paul

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When looking at fuel prices you really need to look at the price the station is charging for fuel plus state and federal taxes that are added to get the pump's selling price.

 

Buying fuel without the highway taxes added can be a money saver if you run your generator off it, just be very careful not to get it in the vehicle fuel tank if it is died as that can become a nightmare.

 

I think this is current"

 

 

The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel.

 

Big PDF with 2015 rates for the states: http://www.api.org/~/media/files/statistics/statemotorfuel-onepagers-apr-2015.pdf

 

Maps with state and federal taxes:

 

Gas map: http://www.api.org/oil-and-natural-gas-overview/industry-economics/fuel-taxes/gasoline-tax

 

Diesel map: http://www.api.org/oil-and-natural-gas-overview/industry-economics/fuel-taxes/diesel-tax

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Going thru West Yellowstone, MT. Monday morning, diesel was $2.99 which it has been since for the two weeks we have been in the area. Getting into Bozeman the only price I saw for diesel was $2.79 and $2.69 for gas. Monday evening coming back thru West Yellowstone several places had dropped to $2.96.

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Why if we are producing so much crude oil in this country is the price of fuel based on the price of a barrel coming from Saudi Arabia? Plus why when the price of a barrel goes up the price at the pump goes up the same day but when the price of a barrel goes down it takes months for the price at the pump to go down? Do you think there is some price gouging going on??

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Why if we are producing so much crude oil in this country is the price of fuel based on the price of a barrel coming from Saudi Arabia? Plus why when the price of a barrel goes up the price at the pump goes up the same day but when the price of a barrel goes down it takes months for the price at the pump to go down? Do you think there is some price gouging going on??

 

The retail price of almost all goods and services is not nearly directly affected by wholesale prices as most people think, but controlled more by supply and demand

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Another place to get current fuel prices as you travel is the website and phone application for Gas Buddy. And I wonder where in TX you paid that much for fuel as here in east TX the price of gasoline is pretty consistently at $2.43 while diesel ranges from $2.49 to $2.55.

 

Hey Kirk! From Texarkanna down to Lufkin Hwy. 59) the prices are 2.60 to 2.70...we are currently at the in-laws in Lufkin helping them with the farm and the cheapest prices here are 2.68...We also use Gas Buddy a lot!! It has saved us a fortune on gas and made it easy to find the stations...I just wish the gas companies would quit with the excuses and just say "hey folks we know you are going to travel during the summer so we are going to jack up the prices for a couple of months"!!! Just be honest about it!!! And the Californians have themselves to blame for the shape that state is in...or rather the folks they voted in to power are to blame!!

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We are finishing a two month volunteer gig at CARE in Livingston. Bought 40 gals diesel at Murphys in front of Walmart this morning for $2.45. Saw some places on the way to Lufkin and back at $2.69, $2.73, and so on. One place south of Livingston on 59 had it for $2.51. Oh and saw them re-striping the parking lot at Walmart behind fuel station so looks like it will reopen some time soon.

 

Dave

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I saw something that I haven't seen in a while. Would have taken a photo but was driving. Reg gas. $2.76 Diesel $2.76. Sunoco Station in South Florida. Maybe I will find it on the traffic cam. Just remembered it was in the car then.

 

Rod

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The retail price of almost all goods and services is not nearly directly affected by wholesale prices as most people think, but controlled more by supply and demandW

I've read and been told that right now there is a 10 yr. glut of oil, thus the reason for the recent price drop this year. Consumption is down for the last 3 years. The prices have gone up simply because of summer increases in usage.(more money to be made) There does not seem to be a "supply & demand" issue right now due to the over supply but rather an issue of "what can we all get together & charge." Remember, the oil companies are making what they call Windfall Profits. I really don't think there is any supply shortage but rather a glut of oil on the market.

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Around here (metro Detroit area) - gas has risen bit in the past month or so - and has been in the $2.80 - $2.95 range for the past month. Diesel as been $2.99 for the last three months. At the moment, prices are up about 30 cents from their recent lows - BUT they're steady and pretty consistent which ain't all bad either!

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Why if we are producing so much crude oil in this country is the price of fuel based on the price of a barrel coming from Saudi Arabia? Plus why when the price of a barrel goes up the price at the pump goes up the same day but when the price of a barrel goes down it takes months for the price at the pump to go down? Do you think there is some price gouging going on??

 

Prices are based on the LAST gallon sold. Since the Saudi's are a major market player they many times sell the last gallon. Or in this case the last barrel of oil.

 

Your second point was explained in my economic classes that prices are elastic on the upside, and sticky on the downside. Demand quickly raises prices on the upside. However, human behavior is such that prices are sticky on the downside. Basically, people like making money and hate losing money. So they quickly raise prices when they can......as prices drop people are afraid to drop prices prematurely. I think there is a basic human belief that this cannot be happening, so it takes quite a while for people to respond to lower prices since there are lots of downsides to them. It is what happens. Price gouging is usually an opinion based on whether you are a buyer or seller.

 

That behavior is common across all industries, not just the oil industry. However, people notice it there since prices are set and displayed in public on a daily basis.

 

Is there another commodity where wholesale and retail prices are displayed on a daily basis in the media??

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Gas? $3.65 this morning in California.

 

Why do the prices charged/vary? Many factors but mostly it has to do with what the market can sustain. Mind you many smarter folks than me have spent many hours on dissecting the fuel market all to no avail.

 

regards

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It's really pretty simple, the oil companies charge what they can get away with. They know we have to have it ,and they charge what they want. No one can make them do any different, they are the most powerful industry and that includes our government!

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