Gas prices

[SoCal_Dad]

I was very happy to pay $2.45 yesterday at a newly added Costco station. Otherwise, GasBuddy shows $2.67-2.96. CA gas is the most expensive due to its formulation and high taxes. At the beginning of 2014, the total taxes per gallon was almost 71 cents in CA, 46 in OH and 60 in PA (see Gasoline tax map explains a lot).

In comparison, ExxonMobil made 5.5 cents per gallon. Remember that the next time you hear someone complain about exorbitant oil company profits.

 

[freddieball]

Saw $2.06 today in Bucyrus

 

[Westler33]

I can not believe it but I got gas for $2.02 today in Marion WOW!

 

[frenchy101010]

$1.89 Georgesville Road Thornton's

 

[Louuuuu]

In comparison, ExxonMobil made 5.5 cents per gallon.

More comparisons;

And I'm betting these are conservative numbers, but let's say that a tanker truck carries 20,000 gallons. And it unloads at your local gas station twice a week. That's $2200 "profit". Take a sample-sized town that has ten gas stations - that's $22,000 profit in one week. How many towns across the country have ten gas stations? Lots. 50 per state? On average? Easily. 50 states X 50 towns where $22,000 profit is being made = $55,000,000 profit. Per Week!

Not a bad week...

 

[SoCal_Dad]

More comparisons;

And I'm betting these are conservative numbers, but let's say that a tanker truck carries 20,000 gallons. And it unloads at your local gas station twice a week. That's $2200 "profit". Take a sample-sized town that has ten gas stations - that's $22,000 profit in one week. How many towns across the country have ten gas stations? Lots. 50 per state? On average? Easily. 50 states X 50 towns where $22,000 profit is being made = $55,000,000 profit. Per Week!

Not a bad week...

Your numbers are very low, especially since you're looking across multiple oil companies. ExxonMobil made $45B in 2012 and $32.6B last year when the top 5 made a total of $93B. It's a huge industry that also pays income taxes on those profits and payroll taxes on its employees.

Let's extend what the various levels of government make off it. Conservatively, the taxes collected at the pump alone take in over 7 times the oil companies' profits, which extends to $892B in 2012 and $651B in 2013 for just the top 5. How are they going to replace that revenue with the move away from fossil fuels?

 

[cobb_of_fury]

More comparisons;

And I'm betting these are conservative numbers, but let's say that a tanker truck carries 20,000 gallons. And it unloads at your local gas station twice a week. That's $2200 "profit". Take a sample-sized town that has ten gas stations - that's $22,000 profit in one week. How many towns across the country have ten gas stations? Lots. 50 per state? On average? Easily. 50 states X 50 towns where $22,000 profit is being made = $55,000,000 profit. Per Week!

Not a bad week...

And If every man woman and child in the US would find one penny on the ground, just one penny every day for a week that would be $22.12 million, not a bad week (Fun with numbers)

Not a lot of business can run on 3% profits - If you want to see big profit number look at Non-Profits like Universities and Hospitals

 

[Louuuuu]

How are they going to replace that revenue with the move away from fossil fuels?

That's a very good point! Tax the Amps! Eventually all these Tesla and Volt owners will be moaning like today's Hummer owners.

 

[frenchy101010]

It's $1.85 every where on the west side of Columbus. How low does everyone think it will go?

 

[Westler33]

Got gas for $1.81 in marion. Sweet keep on going down!

 

[Pacerdad57]

Haven't seen it any lower than 2.01 here in delaware.
20,000.gallons per taker Btw is WAy.off. on average a 9200 gallon capacity if filled.to the brim.
Usually around 7800 to 8200 gallons/load.

 

[HITTER23]

1.79 in parts of Dayton

 

[HITTER23]

Well, gas prices got to 1.72 in the Dayton before Speedway decided enoug is enough with this shit and raised prices thru out the area to 2.09, a 35-38 cent jump.

I hate Speedway, they control the price thru out this area and now everyone else will follow suit and jack it up also. I propose a boycott of their other merchandise such as their shitty roller food and snacks, theres other places to get this.

 

[OHsoftball]

1.99 here...while most places are 1.79. Southeast ohio always has the most expensive gas prices..but I'm definitely not complaining

 

[Supertech]

The gas prices here was 1.75 this morning & now 2.09. Really, .34 cents increase in 8 hrs???????

 

[chixdad]

$2.09 in Olmsted Falls, just west of Cleveland.

 

[Pacerdad57]

$1.74 on the way to work in Columbus at 5:45 this a.m., $2.09 when I left at 3:00....
and so it begins.......

 

[coachjwb]

This won't be popular ... but here goes!

I love cheap gas prices too. But did anyone notice what was happening to the stock market the last week or so as a result? The Middle East can explore and refine oil a lot cheaper than we can in the U.S. This was being projected to have a severe impact on energy jobs and investment. Think of it much like the auto industry ... if foreign companies flood the U.S. with less expensive cars, that might be great for us as consumers but eventually we start to pay the price for it in terms of U.S. jobs and investment. Say what you want about totally open global markets, but then don't complain when the standard of living in the U.S. drops to that of the rest of the world either. Given that gas prices were near $4 just a short time ago, I am OK paying $2.00-2.50 if that helps keep our economy healthy.

 

[Pacerdad57]

Hit the nail on the head ya did

 

[Bill Bollinger]

When is the last time you saw low gas prices send us into a recession? Now on the flip side, when is the last time you saw high gas prices send us into a recession? Is it possible, people are selling out of certain positions and buying into other ones and don't want the price to go too low before they bail?

Don't look a gift horse in the mouth....