Gas Price Watch

[sour_grapes]

Well at least we did until the price of oil dropped below $50 a barrel. I think IIRC they need somewhere around ~$70 a barrel to make a profit on Shale oil, tar sands etc. Any lower and they will shut things down and wait for a price recovery.

I see. I did not know this, and just spent some time reading a bit about the economics of shale oil (tight oil). I learned something, thanks!

 

[Boatboy24]

Paid $2.09 this morning. We bottomed out at $1.91 about a week and a half ago.

 

[fabrictodyefor]

wouldn't it make sense to manufacture and reserve as well as become the leading producer??from a business stand point, it all come out in the end.

and become less dependent on oil from elsewhere.....

 

[sour_grapes]

wouldn't it make sense to manufacture and reserve as well as become the leading producer??from a business stand point, it all come out in the end.

and become less dependent on oil from elsewhere.....

You mean like the 750 million barrel Strategic Petroleum Reserve?

 

[joeswine]

Gas wars

Europe ,japan an china need to step up some how, don't you think??? THE prices are slowly rising again reg.is at $1.95 per.at present in south jersey.

 

[richmke]

IMHO, crude oil is a finite resource with limited alternatives (hard to fly a plane on renewable energy).

So, let other countries deplete their oil, and keep ours for when no one else has oil. Keep shale on "cold" standby with the capacity to be self sufficient. So, if someone threatens a disruption, they know it will only be temporary for the USA.

Maybe use the Strategic Oil Reserve to bridge the time it takes to bring the shale on-line.

 

[sour_grapes]

I have often thought in a similar way, Rich. I'd rather be the last guy left with any oil in the tank than the one who sold it or burned it all earlier.

 

[ibglowin]

$2.03 a Gallon for regular unleaded at Costco/Sams in ABQ. Almost no increase the last few weeks. I just read that gas prices have fallen 9 days straight and oil has been tumbling as well after the short hike when they switched over from Winter to Summer blends. We are currently running around $2.30 so the local stations are slooooooow to drop prices milking all the extra profit they can. Usually we are on average about $0.12 a gallon higher than ABQ

 

[ibglowin]

Things have been heading back up on a weekly basis the past few months. Now up to $2.33/gal in ABQ at Costco and Sams and about $0.25 cents more in Santa fe and parts North.

 

[joeswine]

SAME HERE IN NEW JERSEY SLOW BUT STEADY INCREASE.

 

[grapeman]

It has been like a yoyo here going down and back up 10 to 20 cents a gallon at a time. Been bouncing back up to 2.90 now here.

 

[ibglowin]

I just filled up for $1.89 here in Lost Almost. Had $0.50 a gallon in rewards points from Smith's (Kroger) for buying groceries and cashed them in. Every little bit helps! LOL

 

[ceeaton]

Wow, the average around these parts is $2.65 to 2.69. Got $2.60 @ BJs yesterday. Guess I gotta fire up the gas buddy app and start searching. If I go up by the truck stops around I-81 and Rt 11 I might find a better price.

 

[Black-opal]

its $3.69-$3.99 here

 

[ibglowin]

Been awhile since much of anything to report. But yesterday oil hit a new 6 year low price per barrel. It dipped below $42. Have gas prices dropped? Not so much, in fact they haven't dropped in Lost Almost at all. Most stations are charging $2.69 and have not dropped at all through out the entire Sumer even though oil prices have been sliding all Summer long.

In Albuquerque where competition is pretty stiff they are faring a little better. Costco is selling regular unleaded for $2.32 a gallon.

 

[reefman]

Paid $2.35 in Newark, DE yesterday.

 

[Boatboy24]

$2.79 yesterday in Reston, VA. If I go 15 miles west, its about 30 cents cheaper.

 

[joeswine]

2…20 in south jersey

 

[CowboyRam]

It is 2.74 with the 3 cent discount for using the Smiths card here in Riverton, Wyoming.

 

[Steve_M]

$2.90 in Westchester County NY
When we left Cape May last Saturday was so happy to pay only $2.58!

Thanks,
Steve