Current Spike in Gas Prices

[Foy]

Foy it appears that you and I are of a similar age having received my first college degree in ‘78 as well.. you mentioned a big trip this summer. Can I ask where?

Yes, Eddie, my 67th is one month from now. I studied geology at Appalachian State U so long ago that there were still vestiges of geosynclinal theory within some of the textbooks.

We're on a slow (66-68 mph) 1,700 rpm roll to Elko, NV for the Silver State Stampede, thence to Jarbidge, Ketchum and Stanley, ID, Jackson, MT for Bannack Days, the Centennial Valley,Norris Hot Springs, Philipsburg, Rock Creek, a music festival in White Sulphur Springs, the Big Snowies, the dinosaur tracksites on the flank of the Bighorns in WY, Hot Springs SD, a tanking trip in Halsey, NE, and back home. Six weeks in all.

Foy

 

[Casa Escarlata Robles Too]

Foy that sounds like s very interesting trip.
Post some photos if you get the chance.
Thanks.
Frank

 

[Foy]

Foy that sounds like s very interesting trip.
Post some photos if you get the chance.
Thanks.
Frank

Thanks Frank. After + 10 years on the forum, reckon it's time? Now that I'm semi-retired, I'm running out of excuses!

Foy

 

[teledork]

Interesting reading.

from Foy: "Fungible commodities also share the characteristic of being bought and sold on markets all over the globe with supply and demand setting the prices, not the producers themselves."

from Mighty Dodge Ram: "Pump prices fluctuate due to many factors, not just pure supply & demand. Oil futures, stock market anticipation/fears, etc."

I am not an economist - I only roomed with one in my last year of college. I am trying to recall what she had to say back then when gas prices rose to $1.50/gal but it seems to me the prices of commodities are a factor of perception AND demand.

I haven't a clue how to do the math myself to confirm (sorry, Foy - can't show my work ) but I have been told that IF gas prices had kept up with inflation we would be paying $8/gal or more.

I have also been told that development of new domestic oil was slowed due to low prices (source - someone I know who worked in the exploratory side of the industry) and I hope I am not getting too political by saying that I have become more than a little frustrated with some people declaring that "environmentalists" are responsible for the current price of gas because they stopped the sale of new leases.

It is my understanding that prices are higher in California because of higher taxes but I still have trouble understanding why my little town has a price of $6.39/gal and 30 - 60 miles down the road (Bridgeport and Lee Vining) they are asking for blood and then you may only have to give up your first born child if you can make it to Bishop. < THIS is what has the scent of opportunism (perception, charge what the market will bear, captive audience) UNLESS somehow the cost of driving the delivery truck 30 more miles raises the price that much?

(edit to add: I suspect gas arrives in Bridgeport from the south but I still can't figure out the huge price increase in the tourist towns unless it is simple opportunism)

Another edit to mention that the prices in Gardnerville, NV are generally less than $5.50/gal so the CA taxes at about $.55/gal fail to explain why gas in the SF bay area is as high as it is unless it is local demand? what the market will bear? additional local taxes?

I am sticking with my post from a few pages back - this is capitalism at work.

 

[teledork]

Enjoying the civil discussion of the profits of mega corporations.

My 2 cents:

There are other cell phones cheaper than Apple so I have a choice. Many feel the Apple is worth the extra money and some do not.

All oil companies sell gas at close to the same price. IMO they are all the same and in reality we have not choice.

Apples to Oranges.

I've had cheap cell phones. When I finally gave up on my expensive landline that suffered more outages than the electricity (and had cheap phones fail at inopportune times) I hung my head and paid the premium for an iphone. (full disclosure - I am typing on a mac - never bought anything else)

On the other hand if I want to eat anything that I can't grow ( groceries - 60 mile round trip and a X10 increase in the voracious ground squirrels after the fires of 2020 as well as the worst "spring" weather I have experienced in 28 years) I have to purchase fuel at whatever price it is being sold.

 

[craig333]

I can't join the discussion, economics is not my thing. I'm working on cutting my expenses. Interesting how Verizon basically told me to bugger off. I guess they're focusing on the higher end customer. Fortunately that is a fungible commodity.

Its frustrating after getting my truck ready and retiring now I have to seriously reconsider some of the trips I wanted to take. Like Foy said though, can't put it off forever. I'm not getting any younger.

 

[Mighty Dodge Ram]

Just returned from 2 weeks in Hawaii. Price/gal was half a buck less than here in So Cal, it’s usually just the opposite situation. Last time I checked there’s no drilling or refining of fuel on the Big Island or Maui. I didn’t see a listing of taxes but I’d have to guess that transportation costs have got to be high. Hmm…

 

[Casa Escarlata Robles Too]

I can't join the discussion, economics is not my thing. I'm working on cutting my expenses. Interesting how Verizon basically told me to bugger off. I guess they're focusing on the higher end customer. Fortunately that is a fungible commodity.

Its frustrating after getting my truck ready and retiring now I have to seriously reconsider some of the trips I wanted to take. Like Foy said though, can't put it off forever. I'm not getting any younger.

Craig have you thought of T Mobile for your phone?
We pay $70 flat a month for our service and 2 new I 13s.
They have plans for us geezers.
Back in February I ditched Verizon for T Mobile.
Got a good deal at Costco. They have some buy one get one free deals.

Frank

 

[AWG_Pics]

$4.86 per gallon for regular at Costco on the east side of Portland.

 

[craig333]

I have comcast for internet and they gave me a pretty good deal on a cell phone plan.

 

[buckland]

I have AT&T Prepaid plan $300 paid yearly. Unlimited text and calling US CAN Mex with roll over 8 Gig Data a month. One bill a year. Bring your own phone and number. No other fees

 

[teledork]

Just returned from 2 weeks in Hawaii. Price/gal was half a buck less than here in So Cal, it’s usually just the opposite situation. Last time I checked there’s no drilling or refining of fuel on the Big Island or Maui. I didn’t see a listing of taxes but I’d have to guess that transportation costs have got to be high. Hmm…

I heard about Hawaii. Their state gas tax is 51.7 cents, CA is 68.2. Nevada is 50.5. (fed tax is 18.4)

The price difference between Gardnerville, NV and Bridgeport CA is $3.00/gal.

I think prices are set on desperation -"can I make it to Nevada?" - and/or "we're on vacation - the sky is the limit!". I think low volume of sales may be a part of the issue (that delivery has to be paid for) but I also know that B-port gas prices have been upslope from $5/gal for more than 10 years now - even in 2020 when the price dropped below $3 elsewhere.

I suspect B-port won't be selling gas for less than $7 ever again and I will not be buying gas in B-port - ever again (in 30 years I bought gas there once - I gave a ride to some PCT hikers, they wanted to pay but I was driving a Prius - downhill from Sonora Pass - and probably hadn't used a full gallon so I declined)

 

[craig333]

I felt happy when I paid 5.99 a gal for diesel. Its definitely having an impact on my travels. That and the fires and floods. Odd having both at the same time

 

[ski3pin]

I suspect B-port won't be selling gas for less than $7 ever again and I will not be buying gas in B-port - ever again (in 30 years I bought gas there once - I gave a ride to some PCT hikers, they wanted to pay but I was driving a Prius - downhill from Sonora Pass - and probably hadn't used a full gallon so I declined)

I thought the same for Bridgeport, but yesterday it was $6.79 at the Shell across from Buster's.

 

[Casa Escarlata Robles Too]

Prices are starting to get back in the realm of reality,sorta of.
Paid $5.09 Costco yesterday.
Frank

 

[ski3pin]

After I stopped going to town it went up to $6.59. Today it floated down to $6.49.

The highest price we saw here was $6.89. Today it is $5.39. That's a drop of $1.50 in a little over two months.

 

[Ted]

We paid $4.85 at Sams in Roseville a few days ago.
Bridgeport and Lee Vining always run $1.50 more than anywhere else. When driving 395 we gas up at Topaz Lake or Walker heading south and Bishop heading north so we can get past those areas without needing to buy gas.

 

[craig333]

Diesel has dropped to 5.70 around here.

 

[MarkBC]

On a road trip this past week -- Different places...different prices.

$/gal for regular on a credit card:

Redding, CA: 4.959
Bakersfield, CA: 4.859
Carson City, NV: 4.599

Prices in Lee Vining? In Bridgeport?
Well...if you have to ask you can't afford it.

 

[Mighty Dodge Ram]

Never thought I’d be so happy to pay $4.999/gal. ‍