Gas Price Watch

[ibglowin]

Gas has been on the rise here for the last couple of weeks. We bottomed out locally at $1.45 but have now risen to $1.65. ABQ is about he same except for good old Costco and Sam's who are doing much better at holding the line. They bottomed out at about ~$1.24 but have risen now to $1.35.

 

[sour_grapes]

Yeah, we bottomed at the high 1.30s ($1.37 or so) and are now in the low 1.70s.

 

[ibglowin]

I am sure they blame it on low inventory as the refineries switch over from Winter to Summer fuel blends. Bottom line is that the price drops sloooooowly but if oil jumps as it has in the last couple of weeks....... Instant price rise!

 

[sour_grapes]

True dat! And I don't think airlines ever lower their fares...

 

[ibglowin]

No, in fact Southwest is the major carrier out of ABQ and into most places we have family in and until about 18mo ago I could fly RT to San Antonio for ~$250. The last 12mo or so the cheapest flight is around $420 RT and that is only if you take the 1st flight of the day or the last flight of the day. Everything else is even higher. Oil has fallen for the last year to less than half it was AND Jet Fuel requires less refining that unleaded gas for automobiles so it is actually cheaper.

 

[geek]

Holding steady at Costco/BJ's for $1.63

 

[geek]

if oil jumps as it has in the last couple of weeks....... Instant price rise!

And my 401-K seems to be getting happier....phew...

Some good drop in the last 2 months....really hoping it recovers quickly...

 

[grapeman]

Wow and we just got under $2 this last week. I saw some at $1.949 today. Last week I was able to get 20 gallons for 17.87 with gas points from my wife. It seemed almost like robbery.

 

[Larryh86GT]

Around 1.87 or so in our area.

 

[geek]

Went up a few cents..

 

[wpt-me]

Was 1.69 9/10 in Ma. and 1.74 9/10 in Me. this weekend.

Bill

 

[ibglowin]

Still on the rise the last few weeks. Costco and Sam's are holding the line in ABQ still with $1.72 and $1.67 but outside of them it has jumped to around $1.87. We jumped up locally around $0.15 a gallon this week. Pretty good bargain still. They always claim the "switchover" to Summer fuel blends is the culprit this time of year. Yea, thats the ticket......

On a side note we booked a trip to visit SWMBO's folks in KC, MO on SWA and the cheap seats cost $350 RT. That same flight used to cost less than $200 RT 18 months ago. I read where SWA had hedged a good portion of their fuel and locked in contracts at a high price and then of course the bottom fell out of the oil market and they are losing big time on that gamble currently. We almost drove as our 13 Honda Accord gets ~35MPG on the highway but the thought of another road trip through the OK panhandle, across KS and all the "silo towns" every 20 miles was just too much to handle!

 

[geek]

We're still ~$1.72 at Costco.

 

[sour_grapes]

On a side note we booked a trip to visit SWMBO's folks in KC, MO on SWA and the cheap seats cost $350 RT. That same flight used to cost less than $200 RT 18 months ago. I read where SWA had hedged a good portion of their fuel and locked in contracts at a high price and then of course the bottom fell out of the oil market and they are losing big time on that gamble currently. We almost drove as our 13 Honda Accord gets ~35MPG on the highway but the thought of another road trip through the OK panhandle, across KS and all the "silo towns" every 20 miles was just too much to handle!

Interesting about SWA's hedging strategy. If that is what they did, it sure didn't turn out well! (But "It's tough to make predictions, especially about the future.”)

Yeah, I just returned from a solo 2000 mile drive (to the east coast) in my 35+ mpg Honda. Gas prices varied from ~$1.85 to $1.99. I paid just over $100 in gas for the whole ride!

 

[ibglowin]

Not this time, but they were the poster child for hedging back before the mortgage meltdown and gas was approaching $5. They locked in some crazy low prices at ~$2 and they looked like geniuses. The law of averages caught up to them I guess this time around. Some airlines have given up on the strategy all together. Just too risky in the market today.

Interesting about SWA's hedging strategy. If that is what they did, it sure didn't turn out well!

 

[hardworkin]

$2.19 in Lewistown, PA... jumped 15 cents overnight. I guessing its because the stations want the extra profits from the peeps traveling over Easter weekend.

 

[Bubba1]

2.09 gal Reg BP station Staten Island NY

 

[geek]

Few cents up...

 

[ibglowin]

After being above $2.00 for quite awhile we filled up at Costco in ABQ yesterday for $1.89/gallon for regular unleaded.

 

[CheerfulHeart]

$2.54 @ Costco in Merced CA