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Old 12-20-2008, 12:30 AM   #1821
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Old 12-20-2008, 01:16 AM   #1822
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Back up to a buck40 here Cooterville,TN., USA.
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Old 12-25-2008, 12:00 PM   #1823
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1.46 here in ohio
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Old 12-25-2008, 02:18 PM   #1824
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Fuel is still on the slow decline here. My last trip to Denver I found $1.35. Here in the mountains we're ranging from $1.82 to $2.03 for reg. unleaded.
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Old 12-25-2008, 05:03 PM   #1825
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Up 4 cents.

Hi, today, actually yesterday, gas went up 4 cents per gallon.


Regular...................$1.73

Mid-Grade...............$1.83

Premium..................$1.93*

Diesel.....................$2.39
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Old 12-25-2008, 05:28 PM   #1826
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Funny, oil dropped several $$$$ a barrel this week. That does not dirctly indicate a price drop at the pumps but it should. BTW - at $35 a barrel 5 years ago gas was around $1.10 nationally - thay are still making a profit - but we are paying for increased costs in lots of non-direct costs that everyone is paying.
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Old 12-25-2008, 06:32 PM   #1827
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Originally Posted by clancy_boy View Post
Funny, oil dropped several $$$$ a barrel this week. That does not dirctly indicate a price drop at the pumps but it should.
That price you're talking about is for a February delivery in a futures market. If the price continues at this level or lower, you will see it fairly soon but it is not an overnight deal.

Further, we're talking about a 42 gallon "barrel". With my public school education, a $35 dollar barrel computes to about $.84 a gallon in the ground.

Let's see-- we need to add $.184 for Federal tax, $.17 Missouri state tax, and about 9% sales tax in the various municipalities in Missouri. Other states will vary.If you figure transportation, refining, retailing and all the other stuff involved it doesn't sound like a bad deal at $1.39 for unleaded gasoline.



$1.37 for unleaded in the Kansas City area
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Old 12-25-2008, 06:37 PM   #1828
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Yesterday, I bought regular unleaded for a $1.42/gal. at COSTCO in Aurora, CO. Two blocks down the road it was $1.49 at a Safeway.
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Old 12-25-2008, 07:31 PM   #1829
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Please, don't mis-understand my comments - I have nothing but good things to say about the drop in fuel costs. I do realize that there are plenty of additional costs related to the final production of a gallon of gasoline.

Federal and State taxes that were jacked up over the past few years, delivery costs, additional required additives and some things that we may never know about at the public level all roll into the price at the pump.

My only complaint is the out-of-this-world prices we all paid this past summer and the cost and impact that had to our econony. Many feel, and I am one of them, that the fuel jump was a FACTOR (NOT THE ONLY ONE) in the current economic slump (kind way of putting it) that we are all living through right now. Everyone was and are still are pinching every penny they can for the cost increase we are all are still feeling in food, consumable products, and transportation costs associated with commercial products. That 5-10% increase in the cost of living will never roll back - that all happened in a 6 month period. You cannot make that up - even with the 50% drop in fuel - which is only one small expence in our day-2-day lives.

OK - off my soap box.

$1.45 Gulfport, MS Ulead and Diesel was $2.19 today.
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Old 12-27-2008, 11:04 AM   #1830
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$1.39 with 10˘ discount at the Safeway in Pueblo West, Colo., yesterday.

Larry's right about the futures market prices for a barrel of NY sweet crude ($37.71 on Friday). Crude from places like Venezuela is high in nasty stuff and is much cheaper but not many refineries can process it. Brent crude is the European price and is a bit different from the NY price. Wholesale gas was 88˘/gal. Friday and I'm unsure that is a futures price. It does affect the spot market which is in the present. Refiners buy whatever they can get—if they have contracts for the future, they are stuck with high prices or low depending when they bought the contracts. Some hedge with the spot market. The prices we hear on TV are only a part of the story which is very complicated. Large retailers play the same games with gas.

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Old 12-27-2008, 11:38 AM   #1831
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It needed to be said..
It's always a very "complicated process" when it comes to justified the price propped up to a cost/profit level that was..Unheard of a few years back..
Just waiting for the next run-up and, how so uncomplicated it will be for the price to increases, like a ticker tape, at the pump`

Back to/on thread..
Diesel is still at 2.49$
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Old 12-27-2008, 01:02 PM   #1832
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$1.37 here in STL at the local QT. I filled the van for $25 yesterday. What a shock. It's been a few years since we've been able to do that. Last month's bill for gasoline was $111. Thank goodness....I need that savings to offset Christmas.

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Old 12-27-2008, 03:59 PM   #1833
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Quote:
Originally Posted by 53flyingcloud View Post
It's always a very "complicated process" when it comes to justified the price propped up to a cost/profit level that was..Unheard of a few years back..
The pump pricing is not the complicated part. The price/barrel is the world market price--you are the high bidder or you don't get it! It is an auction in that bidders bid for the product. If you want it "badder" than the next guy, you will pay more for it.

Conversely, the reason that gasoline is comparatively cheap is the very same reason that it was $4+ several months ago-demand or lack of demand. The profit level is/was the same regardless of the pump price. Now if a company owned a lot of the their own cheaper oil, then they did better. The retailers make several cents per gallon--their profit is in 44 oz sodas and 99 cent hot dogs.

I know that some folks believe that the high prices were caused by "George and his oil buddies" but it is not true. If that were the case, then the prices would still be $4+, wouldn't they? The demand is way down and down comes the prices.

Actually, the gov't makes more than the oil companies--the nationwide average tax on gasoline is about .48 per gallon. The feds get .17 for doing nothing. The states get more and claim to use it for roads. Who knows what the municipalities get their 7-10% for?

Motor Fuel Taxes

Oil companies average somewhere between 10 and 16 cents per gallon depending on where the supply is.


$1.35/ gallon for unleaded in Lone Jack, MO
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Old 12-27-2008, 04:38 PM   #1834
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Back to/on thread.... Diesel is still at 2.49$
We saw diesel below $2.00 today for the first time. It was 1.97 on the Sandia Pueblo. That makes me feel good since we just bought a new F-250 Power Stroke last week.
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Old 12-27-2008, 05:18 PM   #1835
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I will be the first to admit that I am not an so called expert on all the factors of the Petroleum Industries shell game. I know what I pay at the pump, like anyone else, went up faster than it had declined for a cost ratio, despite the explanation of "conversely concepts" of world supply and demand.
This article points to an unfortunate take on the higher cost associated with energy.
Return to $1 gas? Energy prices evaporate | WINK News - Southwest Florida | Top Stories
Quote:
Oil prices hit four-year lows Friday as employers cut the highest number of jobs in 34 years. The continuing decline in prices is so dramatic and so sudden that it is raising the prospect that gas prices could soon fall below $1 a gallon.
The worst jobs data in 34 years on Friday just added more fuel to the deepening global recession as U.S. employers slashed a far worse-than-expected 533,000 jobs in November and the unemployment rate rose to a 15-year high of 6.7 percent.
I once drove from NH to El Paso Tx. in 1999, for 147$ one way. Crude oil price then was slightly less than 20 dollars a barrel.
When you consider that for well over a 100 years, from the early 1860's to the early 1970's the price of crude oil was nearly flat~
Really opens your eyes.
Diesel price is still 2.49$ locally.
The NE always pays a higher price..

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Old 12-27-2008, 05:36 PM   #1836
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Originally Posted by Larry in MO View Post

The feds get .17 for doing nothing. The states get more and claim to use it for roads. Who knows what the municipalities get their 7-10% for?
Larry, the feds build roads with the gas tax (Highway Trust Fund). So do the states. Most places do not charge sales tax on gas, so municipalities get nothing that way. Many states return part of the state tax to municipalities to build local roads. Motor vehicle taxes also go to roads. No taxes, no roads.

We can argue about whether the govt uses the taxes efficiently to build and maintain roads, but that's where the money goes. Some federal money is earmarked for stupid projects like bridges to nowhere, and that is wrong.

Before motor vehicle license taxes and fuel taxes, roads in this country were pathetic. Outside of cities and towns, they were poorly maintained wagon tracks and during mud season no one went anywhere or they took the train or the horse. Have you seen programs on the History Channel about the first autos to do cross country trips and what it was like at the beginning of the 20th century? In places they just drove across the prairie.

Roads and bridges are deteriorating because of deferred maintenance. Taxes have hardly increased while costs have skyrocketed and inflation has made fuel taxes less and less. Among other things, poorly maintained roads mean our Airstreams get beat up. Take your trailer over Donner Summit on I-80 in California if you want to drive on a highway defined by deferred maintenance and low taxes. They were fixing it earlier this year, so you'd better hurry. The concrete pavement was so old the surface had been worn off and the "road" was more like gravel imbedded in cement. It hasn't helped that the feds allowed heavier trucks to use the interstates years ago which is why so many roads have tire grooves in them. They weren't designed for 40 ton trucks.

Rant complete.

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Old 12-27-2008, 06:32 PM   #1837
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Down to $1.36 per gallon for regular gas here in El Paso. Lowest in a looooong time!

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Old 12-27-2008, 07:10 PM   #1838
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Actually, the gov't makes more than the oil companies--the nationwide average tax on gasoline is about .48 per gallon. The feds get .17 for doing nothing. The states get more and claim to use it for roads.
Well, Gene, you're right. Being a little more than sarcastic, my point was that for the money they get they do seeming little w/ it. Missouri is a good example. We have one of the lowest state gas taxes in the US, about .18, and the highways display that very fact. And, more accurately, the feds get about .17 to work on the highways and little gets done other than repairs. The states portion doesn't get them far enough either. Sorry, that was on me. I owe you one!

Now this is going to sound kinda odd but I believe that if the "user" fee of gasoline tax were increased, and the funds were not siphoned off for other pet projects, the roads surely could be made better and safer. You never saw that one coming, did you?
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Old 12-27-2008, 07:43 PM   #1839
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We saw diesel below $2.00 today for the first time. It was 1.97 on the Sandia Pueblo. That makes me feel good since we just bought a new F-250 Power Stroke last week.

OOOOOHHHHHhhhhhhhhhhhhhhooooooooo, NEW F-250 and less than $2 gas - This is a great country.

Congrats on both counts - and an Airstream owner, go buy a lottery ticket and live life in the fast lane.
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Old 12-27-2008, 08:50 PM   #1840
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Hold on there..

Quote:
Originally Posted by Larry in MO View Post
That price you're talking about is for a February delivery in a futures market. If the price continues at this level or lower, you will see it fairly soon but it is not an overnight deal.
Further, we're talking about a 42 gallon "barrel". With my public school education, a $35 dollar barrel computes to about $.84 a gallon in the ground.
Larry in MO,
You might want to go back to your "public school" and, demand a refund~
With oil prices in retreat, OPEC struggles to maintain unity - International Herald Tribune
As an example:
1.On Monday, crude oil for January delivery fell as much as $3.31, or 6.1 percent, to $51.12 a barrel in electronic trading on the New York Mercantile Exchange. It was at $51.66 a barrel in London.
2. The word Delivery used here by definition means: To accept physical possession of same and/or settled for cash. (per 1000 barrel)
If you are an oil future trader, I doubt very seriously you want to take "delivery" of your multiples of 1000 barrels of future oil unless you have a buyer and, can sell it for more than you contracted to buy the oil for. None of which is happening now as the market is sliding and, the reasons why so many traders are fleeing from that market.
Quote:
In the United States alone, oil demand plunged by 2.6 million barrels a day in September, or nearly 13 percent, according to monthly data released in November by the U.S. Energy Department. Demand fell to 17.7 million barrels a day, the lowest monthly level since October 1995.

I still say. I am no expert on this oil market but..I do know what the word "delivery" means. implied or otherwise~
So, once again, just so we are clear on this..
The prices quoted are the closing price at the end of the day's trading and reflect delivery price at some point in the future~In this case, Jan, 2K9
Not some quoted price for oil in the ground..~
Still..Diesel price is 2.49$
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