Topic: Gas Prices

[DRoberts]

You are sooo lucky with your fuel prices.  We pay NZ$2.30 per LITRE

(Our $ is worth 65% of yours)

Yep. Was not complaining. How much of cost per litre is tax, just for curiosity?

[Waimarie]

You are sooo lucky with your fuel prices.  We pay NZ$2.30 per LITRE

(Our $ is worth 65% of yours)

Yep. Was not complaining. How much of cost per litre is tax, just for curiosity?

"Currently, just under a third of the pump price is the actual cost of refined petrol while about 50% is tax i.e. 63.784 cents per litre in fixed excise (not including the 10c Auckland Regional Fuel Tax), plus the Emissions Trading Scheme levy (approximately 6.2cpl) and GST (NZ has the sixth lowest fuel tax in the world; in many OECD countries, taxes account for around two-thirds of the price). This is important when monitoring movements in the international price of fuel: if the benchmark price changes by 10%, the pump price might adjust by 30% of that, i.e. only 3% (subject to the exchange rate). Despite our high taxes, New Zealand has some of the lowest fuel prices in the Western world."

https://www.aa.co.nz/cars/owning-a-car/fuel-prices-and-types/how-petrol-prices-are-calculated/

[K5GHS]

Saw $1.95 for 87 at a QT on 121 in McKinney TX  yesterday.  Most places are still $2.01-$2.05 though.  The Exxon I fueled the company truck at this morning was $2.05.  When the whole possibility for war with Iran was going on, it was $2.35.

But compared to California, its cheaper.  I hadn't seen $1.anything in California since I was a teenager.

Then again I only have to drive about a half hour north to see oil pumps slowly moving up and down in open pasture land as well, so that's probably a lot of it....

[ocala]

You are sooo lucky with your fuel prices.  We pay NZ$2.30 per LITRE

(Our $ is worth 65% of yours)

Feel sorry for you guys over there. That's just ridiculous!

[BigOkie]

2.09 (average) in Northeast Oklahoma. Here it seems QT dictates the price. Except when they compete with Murphys at a Walmart.

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[PaulMy]

We are currently at C$1.019 to $1.040 /ltr for regular which is at the lower range of the past year.

[Bunty]

2.09 (average) in Northeast Oklahoma. Here it seems QT dictates the price. Except when they compete with Murphys at a Walmart.

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$2.05 at Murphy's here near Perkins Rd. Wal-Mart.  It's usually the lowest and among the busiest places.

[stevebrtx]

$1.96 this morning in Marble Falls so we're still creeping down a bit.

[Bunty]

$1.97 for cheapest price in Stillwater, OK.

[stevebrtx]

We're still hanging in there at $1.96 yesterday. I need to get 5 gal for the lawn tractor, I had to mow the N lawn Monday, it's already that time in TX.

[stevebrtx]

Well, let's see how this world oil price works out on the price of gas. Maybe my trip to NE this Summer will be a cheap one.

[CNYWeather]

$2.56 in Rome, NY. We'll see what happens with oil below $40 a barrel.

[Bunty]

In Oklahoma City, $1.38 for E-10 at the 44th and Shields OnCue and 7-11 Friday morning.

[BigOkie]

In Oklahoma City, $1.38 for E-10 at the 44th and Shields OnCue and 7-11 Friday morning.

Wow. Not sure why it's $1.74 in Tulsa. Jeez.

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[stevebrtx]

We're at $1.84, the $1.38 sounds great, but having to live in OK doesn't fit my plan - ha.

[Bunty]

$1.28 at the Seven/Eleven at I-240 and May in Oklahoma City.

[DRoberts]

2.02, 87 octane w/ethanol in northern KS

[ocala]

$1.28 at the Seven/Eleven at I-240 and May in Oklahoma City.

1.28?? Wow.
2.02 here. 1.99 is the lowest I have ever seen it.

[ValentineWeather]

Enjoy while you can even though many won't take advantage because of the virus.  My fear is smaller companies in the US won't survive once it gets much below $50 a barrel (currently in the 30's) so prices will skyrocket back up into the $80 plus range when it's over.  This is not a healthy situation.

[ocala]

Update.
$1.97
Just entered new territory.

[stevebrtx]

We're getting down into the territory that's going to hurt our oil guys.

[ValentineWeather]

We're getting down into the territory that's going to hurt our oil guys.

Hurting the hydraulic fracturing industries made up of small companies right now. They were saying just today to make money oil needs to be above $50 a barrel anything below 40 they actually lose money so don't produce and layoff. Eventually drives them out of business. Big fear right now if we want to stay energy independent.
What could happen is the big boys Exxon's and Mobils buy out the smaller companies so they have control and manipulate the market much like Saudis.
We will back in the $4-5 gallon range again almost overnight if this happens. Big concerns and bleak outlook right now.

[ocala]

We're getting down into the territory that's going to hurt our oil guys.

Hurting the hydraulic fracturing industries made up of small companies right now. They were saying just today to make money oil needs to be above $50 a barrel anything below 40 they actually lose money so don't produce and layoff. Eventually drives them out of business. Big fear right now if we want to stay energy independent.
What could happen is the big boys Exxon's and Mobils buy out the smaller companies so they have control and manipulate the market much like Saudis.
We will back in the $4-5 gallon range again almost overnight if this happens. Big concerns and bleak outlook right now.

Don't really understand how the whole pricing structure works but how can the oil companies just raise and lower prices at will?

[ValentineWeather]

We're getting down into the territory that's going to hurt our oil guys.

Hurting the hydraulic fracturing industries made up of small companies right now. They were saying just today to make money oil needs to be above $50 a barrel anything below 40 they actually lose money so don't produce and layoff. Eventually drives them out of business. Big fear right now if we want to stay energy independent.
What could happen is the big boys Exxon's and Mobils buy out the smaller companies so they have control and manipulate the market much like Saudis.
We will back in the $4-5 gallon range again almost overnight if this happens. Big concerns and bleak outlook right now.

Don't really understand how the whole pricing structure works but how can the oil companies just raise and lower prices at will?

Based on demand, that's how Saudis have done it forever. Produce less forces price up produce more prices crash which may be great short term but they are trying to force frackers out of business right now so they control the market again. This was the perfect storm you might say between the virus and Russia, Sadis upping production.  Our government is trying to help by filling the national reserve right now and stabilize the price.

[ocala]

I thought US companies didn't rely on the middle east for oil anymore.
I'm sure I read somewhere that BP gets all it's oil from the gulf.