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Gas Prices!

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Postby deeznuts » Wed May 03, 2006 10:51 pm

The other day I payed $3.17 for regular unleaded at Costco in San Diego. Costco is supposed to be 10-20cents cheaper....

check out gasbuddy.com
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Postby WickedSmaat » Thu May 04, 2006 10:45 am

I filled at $2.71 the other day in Central MN.

I wish I could resell it for some serious profit ;-7
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Postby Omaha Red Sox » Thu May 04, 2006 10:57 am

WickedSmaat wrote:I filled at $2.71 the other day in Central MN.

I wish I could resell it for some serious profit ;-7


Pretty 'wicked' new avatar.

2.65 in Western Iowa today.
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Postby mutantseabass » Thu May 04, 2006 11:48 am

$2.89 today. Dam i can barely afford to cut my lawn anymore!! :-o It was over $16 to fill the can for my mower. :-t Thanks W :-t
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Postby Alkaholik » Thu May 04, 2006 2:59 pm

You guys got it way too easy, those were our gas prices more than a year ago.....i just filled my car up on my way back from lunch....

Regular: $3.27
Medium: $3.39
Supreme: $3.59


cant wait to see it hit $4 before the end of may
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Postby Alkaholik » Thu May 04, 2006 3:01 pm

BTW....those are prices here in Bellingham, Washington....it is about 100 miles north of Seattle and it is on the shoreline, with refineries all around us, and somehow our prices are higher than the cities furthur away from the refineries??
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Postby Omaha Red Sox » Tue May 09, 2006 1:23 pm

Gas prices too high? Not by historical standards
By Mark J. Perry
If you're like most Americans, you have probably found yourself complaining lately about the high price of gasoline — especially if you just spent a day or two in the car over Memorial Day weekend.
A USA TODAY/CNN/Gallup Poll in May found that 59% of those surveyed said high gas prices had caused a hardship on them.

You might even find yourself longing for the good old days of cheap gas. If so, think again. Gas prices today, by any measure that adjusts for inflation and rising real income, are a bargain.

Gas prices appear to be at a historical high, and prices of the past appear to be cheap (17 cents per gallon in the 1930s, a quarter in the 1950s and 50 cents in the 1970s). But this is a classic example of "money illusion." In real inflation-adjusted dollars, gas prices are the same or lower today than in most previous decades.

Measured in real dollars, gas prices peaked in March 1981 at more than $3 per gallon. We have not even come close to paying the highest real gas price in history — today's prices are still 30% below the all-time high.

We can compare gas prices over time by calculating the cost of 1,000 gallons of gas purchased at the average price in a given year, as a percentage of per-capita disposable income in that year. For example, in 1935, when gas prices were 17 cents per gallon and annual disposable income was $466, the cost of 1,000 gallons of gas was 36% of average disposable income. Today, it takes less than 7% of our disposable income to buy 1,000 gallons of gas at the current $2.10 a gallon. The "cheap" gas of the '60s and '70s cost about 12% as a share of income.

Prices stable

Gas prices since the mid-1980s have not only been more affordable as a share of income than at any time, they also have been remarkably stable. The recent small increase in gas prices relative to income is fairly insignificant.

Further, we can avoid money illusion by pricing gas in "minutes of work at the average wage per gallon of gas," instead of dollars per gallon. Priced in minutes per gallon, you certainly wouldn't be longing for yesteryear's gas prices.

A typical American working today at the average hourly wage of $17.50 works about seven minutes to buy a gallon of gas for $2.10. In contrast, the average worker in the 1930s worked more than 20 minutes to buy a gallon of gas. During the 1940s, it took 12 minutes of work. During the 1950s, it took about 10 minutes per gallon.

Cost in minutes

Americans are paying about the same for gas in minutes per gallon today (7.2 minutes) as during the 1970s, when the retail price was only 40 cents per gallon, and much less than during the early 1980s (more than 10 minutes per gallon) when real gas prices peaked.

Finally, consider the consumers in most other countries. With the exception of members of the Organization of Petroleum Exporting Countries, such as Iran, U.S. gas prices are lower than almost anywhere in the world.

Go to Europe and you'll pay from $5 to $7 per gallon — even in Finland and the United Kingdom, which are major oil producers and exporters. In Mexico, the world's fourth-largest oil producer, they pay $3.20 per gallon, about the same as in India, Brazil and Singapore.

Consumers might have a lot of gripes to justifiably complain about, but the illusory high price of gas is not one of them.

The good old days of cheap U.S. gas are here now.

Mark J. Perry is a professor of finance and economics at the University of Michigan-Flint and an adjunct scholar at the Mackinac Center for Public Policy in Midland, Mich.
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Postby onnestabe » Tue May 09, 2006 1:46 pm

Nice find Omaha....I knew I had seen something like this before, but I was too lazy to look for it. ;-D
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Postby knapplc » Tue May 09, 2006 2:01 pm

NPR wrote: If a gallon of gasoline costs $2.90 (this week's average, according to the Energy Department), crude oil accounts for about $1.60. The cost of crude oil on the futures market has risen about 33 percent in the last year. This reflects supply problems in such places as Nigeria, Iraq and the Gulf of Mexico, as well as the threat of supply problems in Iran.

Refining costs add another 64 cents or so to a gallon of gasoline. Refining margins have increased from a few years ago, and are especially high this spring, because many refineries are currently shut down for seasonal maintenance. Refineries are still recovering from the effects of last year's hurricanes. And they are adjusting to more stringent low-sulfur fuel requirements and the phase-out of the gasoline additive MTBE.

The balance of the price is taxes -- about 55 cents -- and distribution and marketing costs, which account for about 11 cents per gallon.


From this article.

And this:
JB Williams wrote:Where does all the money go?
Based upon a $3.00 gallon of gasoline, the average break-down is as follows.
Gasoline Retailer $.01 cents per gallon
Oil Company $.08 cents per gallon
Refining $.29 cents per gallon
Marketing/Distribution $.32 cents per gallon
Taxes $.59 cents per gallon
Cost of crude $1.71 per gallon (delivered)

From this article.
Note – I have no idea who JB Williams is – he appears to be a flaming Conservative, so take this info (and his “article”) for what it’s worth. I think the numbers break down about right, though.
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Postby skibrett15 » Tue May 09, 2006 2:17 pm

Let me tell you JB Williams is a two ton man beast who showers in vodka and feeds his baby shrimp scampi.
His wife once gave birth to a 16 ounce sirloin steak. The afterbirth was sauteed mushrooms.
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