Gas Prices... what the hell?

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Re: Gas Prices... what the hell?

Postby pfim on Fri Jul 27, 2012 10:26 am

Idoit40fans wrote:
pfim wrote:Bout to drop $300 driving to and from Pittsburgh, after putting $320 of oil in my tank yesterday for the furnace. I'm not even complaining anymore. Just crying and drinking a lot.


At that point isn't it worth looking into flying? Or are you moving something?


For comparison's sake, I checked expedia again and I could do the trip for about $1200 from Boston with the rental car. I'd have to drive 90 minutes down to Boston and park as well.
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Re: Gas Prices... what the hell?

Postby Idoit40fans on Fri Jul 27, 2012 10:27 am

pfim wrote:
Idoit40fans wrote:
pfim wrote:Bout to drop $300 driving to and from Pittsburgh, after putting $320 of oil in my tank yesterday for the furnace. I'm not even complaining anymore. Just crying and drinking a lot.


At that point isn't it worth looking into flying? Or are you moving something?


For comparison's sake, I checked expedia again and I could do the trip for about $1200 from Boston with the rental car. I'd have to drive 90 minutes down to Boston and park as well.


Once it became multiple people I knew it was worth driving.
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Re: Gas Prices... what the hell?

Postby pfim on Fri Jul 27, 2012 10:34 am

$1200 isn't bad, but I'd rather spend my money on other things. The drive is long but isn't bad, and the kids have a dvd player in the back of the suv.
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Re: Gas Prices... what the hell?

Postby mac5155 on Fri Jul 27, 2012 12:27 pm

pfim wrote:
Nuge wrote:With all the Marcellus Shale drilling, I'm surprised we haven't heard more of a push for natural gas vehicles.


I really don't know much about it, but I thought I read it's difficult to dispense as it's unstable.

Plus, it's just one more thing that will run out eventually.


At our current consumption the marcellus shale alone could power us for 2 years. That's one of hundreds of formations, just in the U.S. That's a quarter million well paying jobs. As in, 6 figures with a high-school diploma education.
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Re: Gas Prices... what the hell?

Postby BigMcK on Fri Jul 27, 2012 12:44 pm

Weekly U.S. Conventional Retail Gas Prices:
08/20/90 - $1.19
08/23/93 - $1.06
08/26/96 - $1.20
08/23/99 - $1.21
08/26/02 - $1.36
05/24/04 - $2.03 (first time weekly average over $2.00)
08/29/05 - $2.59
08/25/08 - $3.66
08/29/11 - $3.60
07/23/12 - $3.44

http://www.eia.gov/petroleum/gasdiesel/
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Re: Gas Prices... what the hell?

Postby Idoit40fans on Fri Jul 27, 2012 12:46 pm

That was awesome when I was filling my tank on $20 every 3rd week. Depressing that im not putting $70 in every week. :scared:

Now that the move is complete, that should drop to every other week though.
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Re: Gas Prices... what the hell?

Postby DelPen on Fri Jul 27, 2012 2:42 pm

If you believe oil prices are controlled by evil oil companies than expect them to keep going up through November.
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Re: Gas Prices... what the hell?

Postby Pavel Bure on Mon Aug 20, 2012 12:47 pm

Bump. How long before $4 a gallon is the norm?
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Re: Gas Prices... what the hell?

Postby mac5155 on Mon Aug 20, 2012 12:49 pm

You know. I had to do a research paper on gasoline prices. They do indeed suck. But its crazy the impact of the price of oil has on gasoline. Seems like we need to have that pipeline installed.
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Re: Gas Prices... what the hell?

Postby newarenanow on Mon Aug 20, 2012 12:50 pm

Pavel Bure wrote:Bump. How long before $4 a gallon is the norm?


5 years or so.

Right now, people get scared at the $4, so they cut back and stop driving. Gas goes down and usage goes back up. But just like anything, $3+ is the norm. As the upper $3s become the norm, $4 won't look as scary and we'll start the next trend to $5.

But people are still scared of $4. In a few years, they won't be.
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Re: Gas Prices... what the hell?

Postby Idoit40fans on Mon Aug 20, 2012 12:58 pm

I was up in Pittsburgh this weekend and noticed that the prices there are the same as they are in Baltimore. That made me laugh, usually a good 10-15 cent difference.
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Re: Gas Prices... what the hell?

Postby mac5155 on Mon Aug 20, 2012 1:00 pm

Whats surprising is demand is still at an all-time low because of fuel efficient cars. So, less demand = prices go up.
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Re: Gas Prices... what the hell?

Postby viva la ben on Mon Aug 20, 2012 1:35 pm

Speaking of gas, my equitable gas bill budget payment is less than half it was 2 years ago.
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Re: Gas Prices... what the hell?

Postby mac5155 on Mon Aug 20, 2012 1:40 pm

viva la ben wrote:Speaking of gas, my equitable gas bill budget payment is less than half it was 2 years ago.


My budget plan is like 4x of what my monthly gas usage has been in the past 3 months. I've used like $35 worth of gas and pay $142 on the budget plan.
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Re: Gas Prices... what the hell?

Postby JS© on Mon Aug 20, 2012 1:42 pm

mac5155 wrote:Whats surprising is demand is still at an all-time low because of fuel efficient cars. So, less demand = prices go up.


So if there's more demand, there's a shortage and prices go up. If there's less demand, the oil companies are losing money and prices are going up. Sounds like we're screwed either way.

First time that I've spent more than $60 in several years to fill my tank this weekend.
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Re: Gas Prices... what the hell?

Postby Guinness on Mon Aug 20, 2012 1:43 pm

Natty gas, yo.
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Re: Gas Prices... what the hell?

Postby shafnutz05 on Mon Aug 20, 2012 1:44 pm

OOOOOOOOOOHHHHHHOOOOOOHHHHHHHH WHAT THE HELL

DO YOU LOVE ME?

DO YOU HATE ME?

CAN YOU SAVE ME BABY BABY
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Re: Gas Prices... what the hell?

Postby mac5155 on Mon Aug 20, 2012 1:44 pm

JS© wrote:
mac5155 wrote:Whats surprising is demand is still at an all-time low because of fuel efficient cars. So, less demand = prices go up.


So if there's more demand, there's a shortage and prices go up. If there's less demand, the oil companies are losing money and prices are going up. Sounds like we're screwed either way.

First time that I've spent more than $60 in several years to fill my tank this weekend.


Well its a double edged sword - we have the fuel efficient cars that go further on a gallon of gas. However if gas was $2 a car that gets 15 mpg would be the same as gas being $4 and that car getting 30 mpg.

So ya screwed either way lol
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Re: Gas Prices... what the hell?

Postby viva la ben on Mon Aug 20, 2012 1:46 pm

mac5155 wrote:
viva la ben wrote:Speaking of gas, my equitable gas bill budget payment is less than half it was 2 years ago.


My budget plan is like 4x of what my monthly gas usage has been in the past 3 months. I've used like $35 worth of gas and pay $142 on the budget plan.

Equitable takes your previous 12 month average and divides the payments by 12. I was up to around 150, now I'm at 70.
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Re: Gas Prices... what the hell?

Postby mac5155 on Mon Aug 20, 2012 1:48 pm

viva la ben wrote:
mac5155 wrote:
viva la ben wrote:Speaking of gas, my equitable gas bill budget payment is less than half it was 2 years ago.


My budget plan is like 4x of what my monthly gas usage has been in the past 3 months. I've used like $35 worth of gas and pay $142 on the budget plan.

Equitable takes your previous 12 month average and divides the payments by 12. I was up to around 150, now I'm at 70.


Yeah I'm not sure how mine is calculated, I'm with Columbia Gas.. but my "bank" of the budget is at like $600.. I think all last year I used like $450 worth of gas.
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Re: Gas Prices... what the hell?

Postby Pitt87 on Mon Aug 20, 2012 1:48 pm

mac5155 wrote:Whats surprising is demand is still at an all-time low because of fuel efficient cars. So, less demand = prices go up.


Gas is not at an all-time low. This weekend API indicated last week a 4-year low. Same report indicated that we are exporting more fuel than we did a year ago also, which contributes to price sensitivity.

http://in.reuters.com/article/2012/08/17/usa-api-monthly-idINL2E8JH54Y20120817
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Re: Gas Prices... what the hell?

Postby JS© on Mon Aug 20, 2012 1:49 pm

mac5155 wrote:
JS© wrote:
mac5155 wrote:Whats surprising is demand is still at an all-time low because of fuel efficient cars. So, less demand = prices go up.


So if there's more demand, there's a shortage and prices go up. If there's less demand, the oil companies are losing money and prices are going up. Sounds like we're screwed either way.

First time that I've spent more than $60 in several years to fill my tank this weekend.


Well its a double edged sword - we have the fuel efficient cars that go further on a gallon of gas. However if gas was $2 a car that gets 15 mpg would be the same as gas being $4 and that car getting 30 mpg.

So ya screwed either way lol


It's also my fault for buying a car that requires 93 octane :face:. Had I kept the brake-eating Legacy, I would be paying $54 instead of $60.
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Re: Gas Prices... what the hell?

Postby meow on Mon Aug 20, 2012 1:54 pm

Natural gas prices will stay low for the next year or two. Right now, it's not profitable to drill and production natural gas, so companies are drilling the wells then capping them off - waiting for the prices to rise.
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Re: Gas Prices... what the hell?

Postby Myriad on Mon Aug 20, 2012 2:59 pm

Have to keep in mind that demand from developing countries isn't going to abate any time soon. Even if the gas consumption of the US is dropping world consumption is still rising. There's also the problem of little slack between supply and demand, so if there is a supply shock gas prices will shoot up. Makes hedging more profitable so when Iran starts rattling the sword contracts go up due to the risk of a supply pitfall.
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Re: Gas Prices... what the hell?

Postby Digitalgypsy66 on Mon Aug 20, 2012 3:02 pm

This small engine repair guy told me that the EPA is going to require more ethanol added to gas soon, which will cause more deterioration to engines, even high performance car engines (he was concerned about lawn mower/weed wacker small engines). Scary.
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