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(Yahoo)   Oil is now farthest away from the anus as it has been all year   (finance.yahoo.com) divider line
    More: Spiffy, Petroleum, West Texas Intermediate, Oil prices, price cap, Organization of the Petroleum Exporting Countries, strict COVID-19 curbs, volatile ahead of an OPEC, Benchmark  
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746 clicks; posted to Business » on 28 Nov 2022 at 12:32 PM (9 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



17 Comments     (+0 »)
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2022-11-28 10:55:04 AM  
Then why is gas still over $4 a gallon?

Although, here's what happens when you save up all your Sheetz rewards, and they put their 15% ethanol gas on sale.
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2022-11-28 11:05:11 AM  

bluorangefyre: Then why is gas still over $4 a gallon?


Because the cost of everything it takes to get it out of the ground, refine it and transport it to the station has gone way the hell up.

Yes, the oil majors are still making record profits, but the cost to make and ship 1 gallon of gas is a lot higher than it was the last time oil was at $70/bbl

They are keeping their profit margin per gallon at the same/higher level and we're eating all the cost increases.
 
2022-11-28 12:19:31 PM  

NewportBarGuy: bluorangefyre: Then why is gas still over $4 a gallon?

Because the cost of everything it takes to get it out of the ground, refine it and transport it to the station has gone way the hell up.

Yes, the oil majors are still making record profits, but the cost to make and ship 1 gallon of gas is a lot higher than it was the last time oil was at $70/bbl

They are keeping their profit margin per gallon at the same/higher level and we're eating all the cost increases.


It's price gouging. Pure and simple. Profit reports will come out and no one will call them out on it.
 
2022-11-28 12:32:19 PM  

Aar1012: NewportBarGuy: bluorangefyre: Then why is gas still over $4 a gallon?

Because the cost of everything it takes to get it out of the ground, refine it and transport it to the station has gone way the hell up.

Yes, the oil majors are still making record profits, but the cost to make and ship 1 gallon of gas is a lot higher than it was the last time oil was at $70/bbl

They are keeping their profit margin per gallon at the same/higher level and we're eating all the cost increases.

It's price gouging. Pure and simple. Profit reports will come out and no one will call them out on it.


Yeah, I know... That's the last part of my statement. They are keeping their profit margins at the same level and HIGHER while passing all of the increased production and transportation onto us.

They have the ability to pass that cost directly to us because we have a direct need for their product... That should be stopped immediately with windfall profits taxes or any other accounting method we can use to squeeze the motherf*ckers.

We're a captive market and we're getting screwed over by them... but they will also be the first to point out "Hey, what about all times when oil is down and our profits are not as large?"

Yet they always seem to make enough to pay their dividends.
 
2022-11-28 12:44:34 PM  
I live in Cincy and gas is around $3.70/gallon, took my son home to Dayton over the weekend and gas was $3/gallon.

This happens regularly and I have no explanation why gas is so much cheaper a mere 75 miles away.
 
2022-11-28 12:48:59 PM  
It's back up now as of the time of this writing.
 
2022-11-28 12:53:54 PM  

wild9: I live in Cincy and gas is around $3.70/gallon, took my son home to Dayton over the weekend and gas was $3/gallon.

This happens regularly and I have no explanation why gas is so much cheaper a mere 75 miles away.


There's between a $0.10-$0.20 difference around various areas in the Northwest part of the state. I'll fill up near work because it's usually cheaper
 
2022-11-28 12:55:08 PM  
Live in a college town. Prices have stayed at around $4 per gallon while all around us they've dropped to less than 3.50. Pretty sure they're just gouging all the students leaving then coming back from Thanksgiving.
 
2022-11-28 1:07:33 PM  

Copperbelly watersnake: Live in a college town. Prices have stayed at around $4 per gallon while all around us they've dropped to less than 3.50. Pretty sure they're just gouging all the students leaving then coming back from Thanksgiving.


If only those students were at a place were they could learn that gas is much cheaper 10 miles down the road.
 
2022-11-28 1:14:15 PM  

Eightballjacket: Copperbelly watersnake: Live in a college town. Prices have stayed at around $4 per gallon while all around us they've dropped to less than 3.50. Pretty sure they're just gouging all the students leaving then coming back from Thanksgiving.

If only those students were at a place were they could learn that gas is much cheaper 10 miles down the road.


Yes, it's the students fault for price gouging
 
2022-11-28 2:11:58 PM  

Aar1012: Eightballjacket: Copperbelly watersnake: Live in a college town. Prices have stayed at around $4 per gallon while all around us they've dropped to less than 3.50. Pretty sure they're just gouging all the students leaving then coming back from Thanksgiving.

If only those students were at a place were they could learn that gas is much cheaper 10 miles down the road.

Yes, it's the students fault for price gouging


I kind of expect educated people to understand that prices are often different mere miles away.  My college aged kid knows this without any help from me.
 
2022-11-28 2:33:17 PM  

NewportBarGuy: Yes, the oil majors are still making record profits, but the cost to make and ship 1 gallon of gas is a lot higher than it was the last time oil was at $70/bbl


NO IT ISN"T.

The cost of running the farking pipelines have not gone up in any significant way.  The costs of running the refineries haven't either.  Employee costs are a few percentage points higher, and that's a fraction of the costs.  As for the last mile transportation costs... it's the price of GAS... the very farking thing they're cranking the price on.

This is price gouging and nothing else.  It's more expensive because they want it to be more expensive.
 
2022-11-28 3:20:38 PM  

MadHatter500: NewportBarGuy: Yes, the oil majors are still making record profits, but the cost to make and ship 1 gallon of gas is a lot higher than it was the last time oil was at $70/bbl

NO IT ISN"T.

The cost of running the farking pipelines have not gone up in any significant way.  The costs of running the refineries haven't either.  Employee costs are a few percentage points higher, and that's a fraction of the costs.  As for the last mile transportation costs... it's the price of GAS... the very farking thing they're cranking the price on.

This is price gouging and nothing else.  It's more expensive because they want it to be more expensive.


What can most people really do about it though? Move? Miss holidays with the family? Cough up the $3.89 and live with it.
 
2022-11-28 3:30:53 PM  

MadHatter500: NewportBarGuy: Yes, the oil majors are still making record profits, but the cost to make and ship 1 gallon of gas is a lot higher than it was the last time oil was at $70/bbl

NO IT ISN"T.

The cost of running the farking pipelines have not gone up in any significant way.  The costs of running the refineries haven't either.  Employee costs are a few percentage points higher, and that's a fraction of the costs.  As for the last mile transportation costs... it's the price of GAS... the very farking thing they're cranking the price on.

This is price gouging and nothing else.  It's more expensive because they want it to be more expensive.


You're seriously suggesting that the price of pipes, metal, chemicals and other commodities has stayed the same over the last 24 months?

And you're serious about that?

Well, ok then.

And they use Diesel to transport the gasoline. Diesel is at $5+/gal now.

I'm saying that the oil majors are gouging consumers to keep their profit higher... but if you think it costs the same amount to make 1 gallon of gasoline today as it did 24 months ago.

Well, you carry on with that.
 
2022-11-28 3:41:33 PM  

Eightballjacket: Aar1012: Eightballjacket: Copperbelly watersnake: Live in a college town. Prices have stayed at around $4 per gallon while all around us they've dropped to less than 3.50. Pretty sure they're just gouging all the students leaving then coming back from Thanksgiving.

If only those students were at a place were they could learn that gas is much cheaper 10 miles down the road.

Yes, it's the students fault for price gouging

I kind of expect educated people to understand that prices are often different mere miles away.  My college aged kid knows this without any help from me.


That doesn't give an excuse to blame students for getting gouged.

If the places close to the university are gouging prices then what stops the one farther away from also gouging prices?
 
2022-11-28 5:28:44 PM  

bluorangefyre: Then why is gas still over $4 a gallon?

Although, here's what happens when you save up all your Sheetz rewards, and they put their 15% ethanol gas on sale.
[Fark user image 425x425]


$2.96/GAL in Wichita, KS.
 
2022-11-29 11:40:42 AM  

Aar1012: Eightballjacket: Aar1012: Eightballjacket: Copperbelly watersnake: Live in a college town. Prices have stayed at around $4 per gallon while all around us they've dropped to less than 3.50. Pretty sure they're just gouging all the students leaving then coming back from Thanksgiving.

If only those students were at a place were they could learn that gas is much cheaper 10 miles down the road.

Yes, it's the students fault for price gouging

I kind of expect educated people to understand that prices are often different mere miles away.  My college aged kid knows this without any help from me.

That doesn't give an excuse to blame students for getting gouged.

If the places close to the university are gouging prices then what stops the one farther away from also gouging prices?


Not to mention that "ten miles down the road" is a 20 mile round trip. That's a long way to go out of your way to save six dollars on gas, and also burn 20 miles worth of gas.
 
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