$$$$. Fuel

patm · Mar 4, 2022

kbasa said:
Welcome to supply and demand based economics.

You can blame Vlad.

There's always a reason or an excuse. Fuel prices increase because they can.
Spot prices like the Brent or WTI are indicators, in reality most of the crude oil and gas are bought with long term contracts.
Pump prices shouldn't increase just because the day's indicators went up.

Edit: Regular went up to $2.01 in Fermont yesterday.

Paul_F · Mar 4, 2022

Today in SW Ontario, $1.729/litre for regular. :cry

kbasa · Mar 4, 2022

patm said:
There's always a reason or an excuse. Fuel prices increase because they can.
Spot prices like the Brent or WTI are indicators, in reality most of the crude oil and gas are bought with long term contracts.
Pump prices shouldn't increase just because the day's indicators went up.

Edit: Regular went up to $2.01 in Fermont yesterday.

Well, they kind of do have to go up when oil prices go up, don't you think? It's hard for an oil company to point to the oil they bought yesterday vs. the oil they're buying today in their inventory, so pump prices reflect the price to acquire oil each day, regular supply and demand pressure, etc.

That's how prices go both up and down.

Here's a pretty good explainer from the nice folks at the Christian Science Monitor: https://www.csmonitor.com/Environme...ll-5-driving-factors/Oil-A-volatile-commodity

AKsuited · Mar 4, 2022

Running average of my Prius Prime plug-in hybrid is 97.0 mpg over the course of 52K miles. Has dropped a bit due to many longer trips due to health problems. It was @99 mpg a few months ago.

Harry

kbasa · Mar 4, 2022

AKsuited said:
Running average of my Prius Prime plug-in hybrid is 97.0 mpg over the course of 52K miles. Has dropped a bit due to many longer trips due to health problems. It was @99 mpg a few months ago.

Harry

We're getting ready to retire, so we're going to wind up moving. We'll have panels on the roof, a Tesla Powerwall arrangement and an EV of some variety to do the bulk of our chores.

We'll still have ICE vehicles, but for primary usage and just getting crap done, I'm thinking a used Leaf or Bolt or even i3 would be ideal.

lee · Mar 4, 2022

Lee said:
E10 regular is $3.40 in Creston Iowa. It was $2.00 fall of 2020.
Diesel is $3.90
North of us on I-80, regular is $3.50 and diesel is $4.00.

Looks like it took another jump today.
$3.59 for regular and $4.29 for diesel.

skibum69 · Mar 4, 2022

$1.91 per litre here today.

Omega Man · Mar 4, 2022

One US gallon is equal to 3.785411784 liter.

OM

pglaves · Mar 4, 2022

Regular (E10) was $3.999 today in Alpine, TX. I'd say we just about hit $4 per gallon. I think it went up to $4.10 before we got out of town but we had already filled up at the "cheaper" price. It still beats those old ration books from WWII.

kbasa · Mar 4, 2022

PGlaves said:
Regular (E10) was $3.999 today in Alpine, TX. I'd say we just about hit $4 per gallon. I think it went up to $4.10 before we got out of town but we had already filled up at the "cheaper" price. It still beats those old ration books from WWII.

Or gas lines.

barryg · Mar 5, 2022

No reasons for long gas lines, super high prices, coupons, rationing, alternate day fill ups, all the suffering for lack of fuel. What was it
1 1/2 -2 years ago? Buck fifty a gallon. North America has so much oil, natural gas, coal to fuel all our needs and probably the needs of all our Allies and friendly countries needs. Open the pipe lines, allow fracking, open the leasing of federal lands and waters to exploration and extraction of fossil fuels. It seems like every time we here we are running out of these fossil fuels, we find more than we ever knew we had. Yes, there will be a time when we transition to some other form of even cleaner energy. I’m all for that; but we ain’t there yet. Ok, I’ll sit back and take the pounding that’s coming my way. Barry

88bmwjeff · Mar 5, 2022

SF Bay Area $5.50 for regular and $5.80 for premium. I think we'll see $6.00 plus before the summer.

As with many things, people panic when the perceived risk goes up. The war in Ukraine and the west not buying Russian oil, and people are panicking. Prices skyrocket up and take forever to float back down, since the demand for gas/oil is inelastic. There's much of the world that needs oil that's not aligned with us and Western Europe that will buy from Russia. I believe the supply will be there.

cjcs · Mar 5, 2022

88bmwjeff said:
I think we'll see $6.00 plus before the summer

Summer is early
$6.20 gal. For premium in Orange Co.

easy · Mar 5, 2022

kbasa said:
Welcome to supply and demand based economics.

You can blame Vlad.

patm said:
There's always a reason or an excuse. Fuel prices increase because they can.
Spot prices like the Brent or WTI are indicators, in reality most of the crude oil and gas are bought with long term contracts.
Pump prices shouldn't increase just because the day's indicators went up.

Edit: Regular went up to $2.01 in Fermont yesterday.

I think Kbasa is on to something here, and Vlad has a good bit to do with it.

E.

pglaves · Mar 5, 2022

It is more complicated than simple. The U.S, is a net exporter of oil, but we import lots of oil from several countries too. But we export more than we import. I can't even pretend to understand the economics and logistics of which oil goes where from where, and which oil comes here from where. But not buying Russian oil would not do much to our oil supply. We might export a little less than otherwise. It seems somebody in this country can buy Russian oil shipped here for less than we get for US oil exported elsewhere. :dunno

Omega Man · Mar 6, 2022

PGlaves said:
It is more complicated than simple. The U.S, is a net exporter of oil, but we import lots of oil from several countries too. But we export more than we import. I can't even pretend to understand the economics and logistics of which oil goes where from where, and which oil comes here from where. But not buying Russian oil would not do much to our oil supply. We might export a little less than otherwise. It seems somebody in this country can buy Russian oil shipped here for less than we get for US oil exported elsewhere.

Today’s economics are complicated. I often look at something that I purchased and realize that I couldn’t ship it back to where it was manufactured for the price I just paid.
Many automobile dealerships are charging “over list” for their vehicles- ADM (additional dealer markup). I like to remember who has been reasonable and fair during trying times.
OM

Darryl Cainey · Mar 6, 2022

For regular fuel its $1.83.9/ liter here in Welland, ON.

They say it could hit as high as $2.00/ liter like in BC.

Paul_F · Mar 6, 2022

$1.839 / litre for regular, $200.9 for premium (ethanol free) here in London, Ontario. :banghead

Riding the bikes is certainly going to be more economical than driving our car but still mighty pricey! :banghead

Nick63 · Mar 6, 2022

Its hit us too down in New Zealand. We did a big ride yesterday and price all over the north island were around $3.05 NZD/litre for 91/regular ...which is around $2.10 USD/litre or $7.95/gallon. Premium fuel is another 10% on top of that. No idea what it will go to here seeing as we are at the **** end of the world! we import all our petroleum I think. its going to get interesting!
Our grocery bills have also gone through the roof over the past 12 months, and for the farm our fertiliser, feed costs are up 200% ...crazy times

pauls1150 · Mar 6, 2022

re: where it comes from and where it goes -
There are several refineries around here, but I think that only a very few of them actually sell gasoline to the local stations (Shell, maybe Chevron, maybe "USA" gasoline).
There are also a few "tank" fields, huge storage areas of what is pulled from the ground (and ocean) around here; I've heard several times (but never bothered to confirm) that what is stored there is not made into gasoline for the locals, but is converted to aviation fuel.

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