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Price of gas update...

Price of gas update...

Old Aug 5th 2012, 1:06 am
  #1846  
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Default Re: Price of gas update...

Originally Posted by Yorkieabroad
Got stiffed for 4.10 in BackEndofBeyond Alabama a few days.
Do you think they saw you coming and changed it up a buck? Not as daft as you think are they?
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Old Aug 5th 2012, 2:05 am
  #1847  
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Default Re: Price of gas update...

Originally Posted by Zen10
I read yesterday that petrol was $1.85 in 2008, but is $3.59 now. Can that be right? That is massive inflation. If it makes you feel any better we pay $4.90 a gallon. The dollars are the same value in each country right now, although AUD was a little stronger recently. They pay $8 a gallon in UK.
Is the Oz gallon the same as a US or UK gallon?
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Old Aug 5th 2012, 2:39 am
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Default Re: Price of gas update...

Originally Posted by Bob
Is the Oz gallon the same as a US or UK gallon?
We use litres here, so I used a conversion tool on the internet to turn litres to US gallons. I think it was 3.79 litres to a US gallon.
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Old Aug 5th 2012, 2:54 am
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Default Re: Price of gas update...

Originally Posted by fromthemanorborn
Do you think they saw you coming and changed it up a buck? Not as daft as you think are they?
It was a BP station as well - I thought they'd have been discounting a bit as a sort of "sorry chaps" move....
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Old Aug 5th 2012, 3:21 pm
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Default Re: Price of gas update...

Originally Posted by Yorkieabroad
It was a BP station as well - I thought they'd have been discounting a bit as a sort of "sorry chaps" move....
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Old Aug 6th 2012, 1:59 am
  #1851  
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Default Re: Price of gas update...

Originally Posted by Zen10
I read yesterday that petrol was $1.85 in 2008, but is $3.59 now. Can that be right? That is massive inflation. If it makes you feel any better we pay $4.90 a gallon. The dollars are the same value in each country right now, although AUD was a little stronger recently. They pay $8 a gallon in UK.
Gas was over $4/gallon at times in 2008.
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Old Aug 6th 2012, 2:05 am
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Default Re: Price of gas update...

Originally Posted by tuxedocat
Gas was over $4/gallon at times in 2008.
I think what shocks me more is the % increase in the last few years, rather than the unit price.
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Old Aug 6th 2012, 2:13 am
  #1853  
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Default Re: Price of gas update...

Originally Posted by Zen10
I think what shocks me more is the % increase in the last few years, rather than the unit price.
It's terrible and much of the price of food in the US comes from transportation costs. Food prices are ridiculous.
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Old Aug 6th 2012, 2:15 am
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Default Re: Price of gas update...

Originally Posted by tuxedocat
It's terrible and much of the price of food in the US comes from transportation costs. Food prices are ridiculous.
Are they? Interesting. I presume that drought you guys had will make that even worse.
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Old Aug 6th 2012, 2:55 am
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Default Re: Price of gas update...

Originally Posted by Zen10
Are they? Interesting. I presume that drought you guys had will make that even worse.
Most of food prices in the US are transportation and processing.

I'm sure the drought will cause an increase but the price of the raw commodity is not what makes up most of the cost here for the majority of foods.
I'm sure that varies some per food. I buy milk for $3/gallon from a farmer, they sell it for $4 at the store. OTOH a pound of wheat is what .15 cents ??? for the raw commodity but a pound of whole wheat bread or cereal $2 -$4+ at the store.
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Old Aug 6th 2012, 3:04 am
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Default Re: Price of gas update...

Originally Posted by tuxedocat
Most of food prices in the US are transportation and processing.

I'm sure the drought will cause an increase but the price of the raw commodity is not what makes up most of the cost here for the majority of foods.
I'm sure that varies some per food. I buy milk for $3/gallon from a farmer, they sell it for $4 at the store. OTOH a pound of wheat is what .15 cents ??? for the raw commodity but a pound of whole wheat bread or cereal $2 -$4+ at the store.
I've noted that in Australia where I can buy 1kg of plain flour for 95c, or a loaf of bread for $4.83.
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Old Aug 6th 2012, 11:11 am
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Default Re: Price of gas update...

$3.95 this morning. (Mobil station)
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Old Aug 6th 2012, 1:12 pm
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Default Re: Price of gas update...

Originally Posted by Nutek
$3.95 this morning. (Mobil station)

$3.49 this morning in Lynn Boston, but the guy was changing the sign as i left so no idea what it is now
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Old Aug 6th 2012, 10:02 pm
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Default Re: Price of gas update...

Originally Posted by DavidLemon
$3.49 this morning in Lynn Boston, but the guy was changing the sign as i left so no idea what it is now
Funny thing is that while oil went up 2009 - 2011, it has been falling since early 18 months so this inflation in your prices is domestic based.
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Old Aug 8th 2012, 12:20 pm
  #1860  
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Default Re: Price of gas update...

Originally Posted by Zen10
Funny thing is that while oil went up 2009 - 2011, it has been falling since early 18 months so this inflation in your prices is domestic based.
I think that's perception rather than what the numbers say.

WTI has been up around $20/bbl since June. As of this AM, WTI is $93, and Brent is $112.

Oil is always sold benchmarked to an indicator (you get e.g. Brent + $2 based on the quality of your crude relative to that benchmark). Some of the Eagle Ford oil is pegged to LLS, which is anything up to +$10 higher than WTI. Bakken oil (North Dakota) is sold at anything up to -$10 from WTI.

The linked graph claims that us gas price is closer to Brent than WTI. TBH, I'm not going to do the digging to pull the numbers myself, so I'll go with it for the time being.

http://www.calculatedriskblog.com/20...versal-of.html
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