latest gas prices

[newnan man]

The United States is the number 1 producer of crude oil in the world.

We use 7% imported oil, almost zero from ships using the Straits of Hormuz
So, all this talk about global supply and a world market oil economy is 99% BS. I'm not going to get into politics here but the math is compelling that someone is pissing down our backs and telling us it's raining.

 

[doverturtle]

This shows why the U.S. must get off of oil. It is a national security issue.

 

[Treasure_Hunter]

My opinion, what you're paying for gas has nothing to do with stopping Iran and everything to do with trillion dollar profits for the Oil barons. They are taking advantage of a situation is all. We're being screwed (stronger word intended).

I disagree, oil prices are not set by any oil barons or oil companies instead, they are influenced by a variety of factors that reflect global supply and demand dynamics. Oil is world wide commodity, sold on international exchanges.

There are thousands of companies worldwide that produce oil, and there are no single company or government controls enough supply to dictate prices.

Oil companies make the vast majority of their profit from selling barrels of oil, not by selling gallons of gas, they average $25 a barrel profit selling oil in barrels, and only about .15 cents per gallon of gas profit to oil company sold at gas stations.

Depending on the grade of oil, there is anywhere from 20 to 42 gallons of gas per barrel of oil.

Profit to oil companies on barrel of oil refined into gas and sold as gas is only about $6.00+/-., profit on raw oil in barrel is $25 a barrel.


BUT, I respect the fact you disagree, and are entitled to your opinion sir!

 

[unclemac]

Oil prices do not have to be set on a commodity basis, there are multiple other ways of doing so. In fact until the late 50's, early 60's, prices were set by oil companies... around $2 per barrel. That is about $22 in today's money.

 

[Treasure_Hunter]

Post deleted, no politics please....

 

[ToddsPoint]

My tractor tank is full and I bought diesel for $5.69 yesterday. I have enough for winter unless we get lots of snow.

 

[DizzyDigger]

Washington fuel prices as of this AM...

Statewide Averages

Regular: $5.56

Mid-Grade: $5.79

Premium: $6.06

Diesel: $7.22

 

[unclemac]

...speaking of which... a lot of our prices are high due to taxes on fuel, this supports road construction ans maintenance. So how are all those Teslas etc contributing?

 

[Tesorodeoro]

California’s prices are especially high due to the commitment the gov. has made to strong arm tactics incentivizing people to switch to electric vehicles. Kind of like cigarettes and firearms - tax it out of existence.

So you have the heavy state specific taxes, the forced closures of refineries, the regulatory burden of constructing new refineries, the strict emission requirements that dictate where the oil comes from.

Electric did fine, but then the reality of where our power comes from and the level of reliance on oil for EVERYTHING manufactured today. It’s a pipe dream saying we would stop using oil. I dream for a pipe line from Texas to California.

 

[pitbullfan]

Glad I can fit my fishing rod and tackle box or my detector on my bicycle

 

[BennyV]

California’s prices are especially high due to the commitment the gov. has made to strong arm tactics incentivizing people to switch to electric vehicles. Kind of like cigarettes and firearms - tax it out of existence.

So you have the heavy state specific taxes, the forced closures of refineries, the regulatory burden of constructing new refineries, the strict emission requirements that dictate where the oil comes from.

Electric did fine, but then the reality of where our power comes from and the level of reliance on oil for EVERYTHING manufactured today. It’s a pipe dream saying we would stop using oil. I dream for a pipe line from Texas to California.

At what point do we wall off that dumpster fire from the rest of the country?

 

[doverturtle]

...speaking of which... a lot of our prices are high due to taxes on fuel, this supports road construction ans maintenance. So how are all those Teslas etc contributing?

Many states have a specific registration fee to cover the road usage for EVs.

 

[djackson7348]

A lot of prices are set and millions of dollars made by big investors betting against the economy in the futures markets. The higher the price goes, the greater their profits. It would be one thing if supply and demand was the only factor. Currently, you buy enough of the futures market, and hold long enough before you sell, you can drive market price and your profit up artificially by creating a perceived shortage.

 

[unclemac]

At what point do we wall off that dumpster fire from the rest of the country?

California generates the largest share of federal tax revenue of any state in the nation, accounting for roughly 15.9% of total federal revenue.

 

[jeff of pa]

Brent Crude $103

Google Search

 

[Prairie Gazingfox]

Washington fuel prices as of this AM...

Statewide Averages

Regular: $5.56

Mid-Grade: $5.79

Premium: $6.06

Diesel: $7.22

At least we see the differences in between grades over there in WA are more considerate and logical.
23 cents between regular and Mid- grade, 27 cents between Middle- grade and Premium.
Over here the Middle grade is like 40 cents higher than regular, in many stations, and the Premium is like 80 cents to a Full $ 1 more than Regular grade almost Everywhere around Chicago suburbs.

 

[Carl-NC]

At what point do we wall off that dumpster fire from the rest of the country?

California generates the largest share of federal tax revenue of any state in the nation, accounting for roughly 15.9% of total federal revenue.

Yup, and California is also THE biggest net contributor to federal taxes (they contribute more than they get back); more than Texas, New York, and Florida combined. Kick California out of the country and watch your taxes go up (or, more likely, the federal debt to increase faster). Ironically, California would be better off.

 

[djackson7348]

Yup, and California is also THE biggest net contributor to federal taxes (they contribute more than they get back); more than Texas, New York, and Florida combined. Kick California out of the country and watch your taxes go up (or, more likely, the federal debt to increase faster). Ironically, California would be better off.

but,
How much is California's budget deficit no counting election year slight of hand? They spend money their residents don't have.

Last I saw, California's total debt load including unfunded pensions and retiree healthcare is estimated to be 1.3 trillion dollars. Take away their ability to spend any money that is unfunded, as some states do, watch how fast the will default.

 

[Tesorodeoro]

...speaking of which... a lot of our prices are high due to taxes on fuel, this supports road construction ans maintenance. So how are all those Teslas etc contributing?

Local governments are not getting additional project funding due to extreme fuel taxing.

 

[Tesorodeoro]

By the way now $9.00 per gallon for diesel in northern ca. at some foreign owned fuel stations. YES there is a difference in prices between local owners and Indian owned stations. Native American stations are cheaper, India owned stations are among the highest in our area by a significant amount. Just observations based on facts. Price gouging occurring. Sell half as much for twice as much type mentality I guess. Where is the oversight and regulation?!