Another gas price thread..............

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  #1  
Old 12-27-14, 09:32 PM
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Another gas price thread..............

Just an FYI. They said gas would not go below $2.. Here is my local BJ's yesterday. Actually its $1.92 now....

And geez us... my friends with the diesels are happy... $2.69

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Old 12-27-14, 10:13 PM
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I'm coming down there. Diesel is still around 2.85 here in the north.
 
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Old 12-28-14, 03:51 AM
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Diesel is still at the $3 mark here, but it seems to be going down. I know it is supply and demand, but why is diesel 70 cents more than gas, and it takes less processing to get diesel from crude? I guess it's because they can.
 
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Old 12-28-14, 04:05 AM
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Normally we have some of the cheaper gas prices in the nation but while our prices have gone down, I've not seen it less than $2.26. I was a little peeved the other day when I went to one of the pure gas stores and found out their regular now contains ethanol. They still have ethanol free ethyl but it was $2.59 glad I only needed 2 gallons. I don't pay much attention to diesel prices but I think they are around $3
 
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Old 12-28-14, 05:15 AM
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What does #2 Heating Oil go for in your areas ?

The best I could find here was $2.65 while 10% Ethanol Gasoline is $2.39, and highway Diesel is just over $3.00.
 
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Old 12-28-14, 05:37 AM
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I don't know about heating oil but kerosene at the pump is $5 a gallon
 
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Old 12-28-14, 08:31 AM
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Here is the COD oil prices in NJ as of today..

*100 - 149 gallons: $2.649
150 - 199 gallons: $2.549
200 - 299 gallons: $2.539
300 - 499 gallons: $2.529
500+ gallons: $2.519
 
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Old 12-28-14, 09:51 AM
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Gassed up Tuesday at $1.88 per gallon. I see it today on the local gas buddy app for $1.80. I'm loving it.
 
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Old 12-29-14, 09:40 AM
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Anyone hear any likely explanation for the drop? Very strange for it to suddenly reverse in November and plummet so far, so fast. Smells like another manipulation to me--but for what purpose? I've read the Russians are accusing the US of artificially driving the price down so the world will buy from ANYone other than higher-priced Russian sources, in order to hurt their economy.
 
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Old 12-29-14, 11:12 AM
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Two factors I heard: OPEC is in disarray - one or two countries want (and are continuing) to produce at full capacity, the rest would rather limit production so prices would rise, so no agreement within the cartel on controlling world oil prices; and the US is now producing about half our own petroleum usage now that fracking is more usual. I'm not sure but I think I also read that the US consumption of petroleum has been the same for several years, not increasing, because more natural gas is available and is being used. ..... And yes, Russia is upset because about half their world trade income is from petroleum, so with world prices down, their budget's been reduced. Also they've used their oil as leverage when dealing with uncooperative entities like Ukraine that depend on Russia as their main supplier, and now that leverage is less powerful. So they want to blame somebody, anybody, ah yes the US!
 
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Old 12-29-14, 12:16 PM
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In the end, it is all about the 4 major factors:

1). Market price for crude to your nearest refinery.

2). Market demand for major different fuels to be refined (diesel, #2, kerosene and gasoline).

3). Distance to the retailer that is determined by the local diesel fuel costs.

4). Storage capacity of the local tank farms and the ability to change fuels between tanks.

It is just a cost item for each factor. The places with big storage invest more in fuel inventoried and can buy cheaper when the prices vary by a penny or two.

There are always the small independents that try to stay in business by offering convenience, locations and other items. The little station on a corner will not survive unless it offers coffee, rolls and bread to draw in people, but Costco and similar bulk dealers just sell gas on price (adjusted hourly to match local competitors).

Selling gas is tough for the small guys since they compete with big boys that may get volume discount for timing and prompt payment, even if their supplier is only a minority owner in a refinery. Most of the fuel in a market area comes from one or two refineries because delivery by truck is very costly due to the cost of running trucks.

Dick
 
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Old 12-29-14, 12:21 PM
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Selling gas is tough for the small guys
Very true! There used to be a little mom and pop store near where I used to work. A chain store went up next door to them and installed pumps. They sold their gas at cost [way less than m&p could buy it for] until the little store went out of business less than 1 yr later
 
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Old 12-29-14, 12:31 PM
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The lower prices are unreal around here. We were known as one of the highest if not the most highest in the country. Awhile back I was paying over $5 a gallon.
Now when I fill up (24 gallons), I don't even recognize the numbers as being mine.
Let's see how long this lasts and how they can justify another round of $5.00
 
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