$2.89 per gallon fill-up,, what'cha paying now???

Last tank was $2.909, (Greenwood) up from tank before at $2.889 (Clarksdale)

 

$3.039 outside of Raleigh, NC.

 

My wife just filled up tonight, 3.39 in our town.

 

About 2.90 here.

 

I'd have to make a special trip to a gas station to find out. But here in California it's always higher than most everywhere else -- except maybe Hawaii.

 

3.69 in AK.

 

Today I saw 2.79! Very happy about that. BTW that was in Murfreesboro TN

 

$2.929 Concord NC.

 

$3.029 around here right now.

 

We're paying about A$ 1.33 per litre. That works out at US$ 4.38 per US gallon. It's a Tuesday, though - our petrol prices are always lower on Tuesdays.

I was in Britain last week, though. I think I was paying about £1.40 per litre (for diesel, but petrol (gasoline) was about the same): that's about US$ 8.51 per US gallon. Driving more than 2,000 miles in two and a half weeks in a seven-seater MPV was fairly expensive. But I did get to see a lot of my relatives.

In France, two weeks ago, diesel was €1.20 per litre - US$ 5.74 per US gallon. So I filled the car to the brim before heading back to Britain.

And three weeks ago, I was in Qatar, where petrol was QAR 1 per litre - US$ 1 per US gallon.

In Malaysia towards the end of last week, everyone was very angry that prices had just risen by 10% to MYR 2.30 per litre - about US$ 2.66 per US gallon. A taxi driver told me that CNG was 70% cheaper.

 

That's a crazy low low price for you, right Spidy? I think it was 5 something when we were up there a few years ago.

Unfort, the oil price is in free-fall we could be talking very low prices if this continues. Normally its a good thing but we seem to be having a global slowdown. We are $2.99 here as the low price, that was yesterday, maybe lower soon. That's cheap for the more expensive reformulated gasoline.

 

2.89 at Costco here in CO on Saturday.

 

It should be $8/gal.

But the rental car I filled up in KY Sunday was $3.29 a gallon. Of course if you don't return it full and have them do it, it is $9.98/gal

 

Uhmm not crazy but that is the lowest is has been for what years. Anchorage is always the lowest, in the bush it can get over 5.

 

The cheapest price I seen around is $3.24 in Western Long Island

 

There was a very good article on the BBC World Service about this over the weekend.

I have no idea why, but the PC system just won't accept my post if I link to it. It just freezes once I've clicked "post".

So.... try doing this.

- Go to BBC - Podcasts and Downloads - BBC World Business Report
- Scroll down to "WBR: Oil prices near four-year low 13 Oct 14"
- Download it from there.

It's worth it. It's very interesting.

It talks about how there are structural changes to the market which are pushing oil prices down. People thought prices would rise because of ISIS and stuff, but the mistake people have been making is to focus solely on the supply side. On the demand side, you have increasingly-strict regulations on fuel economy in new cars in Europe and China, and formerly-oil-fired power stations in places like China, India and Japan are switching to natural gas. Petrochemicals companies are also beginning to switch to new technology that allow them to make many of their chemicals using natural gas too. So demand for oil is falling for cars (although I'd have thought new car ownership in China and India would have more than made up for the increased economy of individual cars), and for power generation, and for petrochemicals, and shale gas is offering a cheap alternative.

 

Saw $3.06 to $3.13 on the drive in this morning.

My understanding is that California gas prices are higher because of the speciality blends CARB mandates. Their premium is only 91 octane for example. While a big market, it is still just one state. The oil companies may limit how much gasoline they make in order to not get stuck with overstock that can't sold in other states.

Shale oil might have an opposite effect in the near future. US regulations prevent the export of crude produced in the country. This was causing an oversupply of the shale oil. It's a light, sweet crude which is good for gasoline production, but the Gulf coast refineries are set up for heavy crude. So they prefer not to take it, and it will costs more ship to the east coast ones that do process light crude. So it ends up selling to either for under the average price per barrel.

But good news for the oil companies. Shale oil requires some processing to get it to a crude state that refineries can handle. This allowed lobbyists to convince the government that it is a petroleum product and not a crude. Now the oil companies are free to sell it out of country to places like Japan. Who will pay over average price for it.

 

....if we all quoted Costco price where possible, that would put us all on a common basis. Then we could subtract states taxes and see what we really got.

..Yikes that's like a huge paradigm shift from where we were in 2008, when oil was supposedly running out (peak oil) and in the US, Congress started funding EV's and biofuels to combat the scarcity of oil. I was always a fan of natural gas, but holy smoke that's something I did not anticipate.