Gas prices...
12-16-14, 07:40 AM
#481
Lexus Champion
they opened a Costco a couple weeks ago near me...filled up with premium for $2.41/gallon (costco gas is toptier too!)...altho now I see it went UP to 2.48 today 
Last edited by bagwell; 12-16-14 at 01:24 PM.
12-16-14, 09:00 AM
#482
I think we are paying like around US$3.65/gallon for regular here in Montreal.
01-05-15, 05:40 PM
#484
It is about US$3.48/gallon (C$4.0875) for regular in Montreal. Which is about the same price around Hawaii now. I think parts of Alberta they are paying US$2.63/gallon for regular. You gotta love taxes.
I have a feeling it may actually hit $30 before it goes back up. 2015 should be an interesting year.
I have a feeling it may actually hit $30 before it goes back up. 2015 should be an interesting year.
01-06-15, 07:52 AM
#486
Lexus Fanatic
iTrader: (20)
around $2.35 for regular here. 21 gallons last night for $48 definitely felt easier.
01-06-15, 08:18 AM
#487
Lexus Champion
Join Date: Apr 2006
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Gas is under $2 here in the Auburn AL area!!! Thank Goodness. We ridding this year LOL!!
01-20-15, 10:19 AM
#489
Out of Warranty
Enjoy the low gas prices while you can. With the price index for West Texas Intermediate (the world standard for light, sweet crude) drifting lower to $46.96 this morning, the sale price has now spent over a month below the production cost. The two major oil service companies, Schlumberger and Halliburton, are laying off thousands of employees to try to stay ahead of the falling demand for well completion services.
In the offshore market, the big, deepwater rigs have slipped below 90% "utilization rate" that marks the beginning of rigs being stacked (mothballed) when they cease to be profitable. You'll never see much over 95% utilization because there are still a good number of floating junkpiles that are maintained in the inventory for tax purposes, but still, a tumble below 90% represents a significant retreat in drilling offshore. What may be more telling is that day-rates for the super rigs offshore has fallen below a half-million dollars per day - and that's about break-even for operation, maintenance, and debt service on one of these mammoth machines. What does all this market activity mean?
Market pundits - at least those looking several months into the future - are predicting an upswing in crude prices by the end of the summer. We've probably reached the bottom of the market for motor gasoline, and we can expect a slow climb out of the cellar over the next few months as we approach the summer driving season and production of more costly oxygenated fuels for the warm season.
Some "Chicken Littles" are talking about $5 gas by next Christmas, but realistically - barring any major war - $3.50/gal gas is well within range by October. The winter price decline should take over by then and hold prices at that level or below for the next 15 months or so. Long term? Well, inflation will take a large toll at that point, so another 10% rise isn't out of the question before we get to the "summer" pricing of '16.
It's always a shock to discover that whatever benefits the economy in terms of low energy prices, ultimately hurts the economy as energy resources dry up due to the market responding to overproduction and the collapse of exploration for new resources.
So enjoy the sub-$2 gas while we can . . . it's going to be a long and rough road - particularly if crude prices remain at these unusual lows for more than another few months and the energy sector layoffs spread.
UPDATE:
Baker-Hughes just announced a 7,000 employee layoff too. That's over 20,000 jobs lost in the past two weeks!
In the offshore market, the big, deepwater rigs have slipped below 90% "utilization rate" that marks the beginning of rigs being stacked (mothballed) when they cease to be profitable. You'll never see much over 95% utilization because there are still a good number of floating junkpiles that are maintained in the inventory for tax purposes, but still, a tumble below 90% represents a significant retreat in drilling offshore. What may be more telling is that day-rates for the super rigs offshore has fallen below a half-million dollars per day - and that's about break-even for operation, maintenance, and debt service on one of these mammoth machines. What does all this market activity mean?
Market pundits - at least those looking several months into the future - are predicting an upswing in crude prices by the end of the summer. We've probably reached the bottom of the market for motor gasoline, and we can expect a slow climb out of the cellar over the next few months as we approach the summer driving season and production of more costly oxygenated fuels for the warm season.
Some "Chicken Littles" are talking about $5 gas by next Christmas, but realistically - barring any major war - $3.50/gal gas is well within range by October. The winter price decline should take over by then and hold prices at that level or below for the next 15 months or so. Long term? Well, inflation will take a large toll at that point, so another 10% rise isn't out of the question before we get to the "summer" pricing of '16.
It's always a shock to discover that whatever benefits the economy in terms of low energy prices, ultimately hurts the economy as energy resources dry up due to the market responding to overproduction and the collapse of exploration for new resources.
So enjoy the sub-$2 gas while we can . . . it's going to be a long and rough road - particularly if crude prices remain at these unusual lows for more than another few months and the energy sector layoffs spread.
UPDATE:
Baker-Hughes just announced a 7,000 employee layoff too. That's over 20,000 jobs lost in the past two weeks!
Last edited by Lil4X; 01-20-15 at 01:21 PM.
06-27-15, 07:45 AM
#490
Driver School Candidate
Join Date: Jun 2015
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Gas prices...
Ok, gas prices are getting ridiculous again, not as high as last year, but still high relatively to the cost of a barrel of oil.
There was a time, even as late as last year that the cost difference between Regular, Plus and Super unleaded gasoline was about a 10cent difference between Regular and Plus and 20cent difference between Regular and Super.
I am now seeing as much as an 80cent difference between Regular and Super.. that's bull*****, and obviously big oil doesn't care, as their profits are through the roof. Today, I drive by my Exxon/Shell stations.. Regular $2.72, Super $3.39... that's 67cents extra per gallon!!! over 3 times as much of a spread as it has been in the past.
Who's got answers??
There was a time, even as late as last year that the cost difference between Regular, Plus and Super unleaded gasoline was about a 10cent difference between Regular and Plus and 20cent difference between Regular and Super.
I am now seeing as much as an 80cent difference between Regular and Super.. that's bull*****, and obviously big oil doesn't care, as their profits are through the roof. Today, I drive by my Exxon/Shell stations.. Regular $2.72, Super $3.39... that's 67cents extra per gallon!!! over 3 times as much of a spread as it has been in the past.
Who's got answers??
06-27-15, 08:12 AM
#491
Lexus Test Driver
I know the fustration you speak of. Unfortunately, there is very little the common person can do about it. In my case I spend over $1k a month on fuel commuting so any fluctuations in prices up are a pia.
In my case I've gone to 88 grade in my 2010 RX without any impact. Depending on how I drive I still get 21-25 mpg.
Not so in the 2010 IS. Luckily that's my wifie car and she hardly drives it.
The day they make an electric car that gets 200-250 to a charge under $25k I'll be getting it. Can you imagine the savings for me?!!!!
In my case I've gone to 88 grade in my 2010 RX without any impact. Depending on how I drive I still get 21-25 mpg.
Not so in the 2010 IS. Luckily that's my wifie car and she hardly drives it.
The day they make an electric car that gets 200-250 to a charge under $25k I'll be getting it. Can you imagine the savings for me?!!!!
06-27-15, 08:18 AM
#492
Lead Lap
iTrader: (1)
I use the GasBuddy app. on my phone to find the best prices near me. They track regular and premium prices daily. Voting with your wallet by purposely avoiding the high priced ripoffs does make a difference. I think it's all we've got.
06-27-15, 08:27 AM
#493
Lexus Test Driver
Yes, It's pretty ridiculous. The price of oil is still quite low, just under $60 a barrel, and premium is nearing or hitting $3.00 a gallon.
I have found some gas stations have that same $0.60/gallon difference between regular and premium, when it should be $0.20-0.30, so I just avoid those gas stations and write a review on Google that states the same. It's especially funny because some of those gas stations have an opposing gas station across the street that has a normal price increase between regular and premium.
Even when I'm in dire need of gas, I'll only put in enough to get me to a different gas station. As Swfla said, "voting with your wallet" is the most effective thing you can do.
I have found some gas stations have that same $0.60/gallon difference between regular and premium, when it should be $0.20-0.30, so I just avoid those gas stations and write a review on Google that states the same. It's especially funny because some of those gas stations have an opposing gas station across the street that has a normal price increase between regular and premium.
Even when I'm in dire need of gas, I'll only put in enough to get me to a different gas station. As Swfla said, "voting with your wallet" is the most effective thing you can do.
Last edited by NickTee; 06-27-15 at 08:33 AM.
06-27-15, 09:44 AM
#494
Former Sponsor
I also seem to catch myself doing the math to make sure I'm getting what I pay for. I can't tell you guys enough how often I get ripped off by gas stations here in California!
06-27-15, 09:55 AM
#495
The pursuit of F
Getting high up here too. We still pay 15-20 cents more for premium per liter which translates to 65-70 cents more for the gallon $1.38 / liter is the going price for 91 now.
We carry 94 in some stations which is just a relatively small jump of about 3-4 cents over 91. What I do is add 94 then 87 at about a 55/45 ratio to get 91 which saves me about 7 cents/liter versus 91 from the pump or about 4$ - 5$ per fill up. It adds up.
We carry 94 in some stations which is just a relatively small jump of about 3-4 cents over 91. What I do is add 94 then 87 at about a 55/45 ratio to get 91 which saves me about 7 cents/liter versus 91 from the pump or about 4$ - 5$ per fill up. It adds up.