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- Denver, CO
Half of that is CA gas taxes.
But yes, it's absolutely outrageous. 85 octane is around $3.80ish here now with 87 at $4.10 - $4.20ish.
A barrel of oil currently at $125. Should we stock up on motor oil?
- Thread starter MyFirstMazda
- Start date
Half of that is CA gas taxes.
But yes, it's absolutely outrageous. 85 octane is around $3.80ish here now with 87 at $4.10 - $4.20ish.
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- Plano, Texas, USA
It’s up again to $4.09 / gal regular at the same Shell gas station now! I’ve never seen the gas price this high ever in Dallas area!
I figure it's a bit late, and it's not enough to matter much.
Likely, this war won't be years, so the price will likely stabilize (like anything else) on the other side of this thing. Of course, any number of other changes might well occur (ie, with OPEC, or Iran's friskiness, or whatever) in such a way that disrupts supplies. Plus we're coming out of this Covid thing, too, globally, and most economies are beginning to wake up again. "Full steam ahead," with fuel consumption. Supply+Demand will do what it does.
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- Denver, CO
What's funny is how many corporations are pushing for everyone to start going back to the office and resuming commutes. Right when gas prices are doing this. Terrible combo.
1
181962
No. California's various taxes and fees levied on gas total about $1.00 / gallon. It was a buck before the price spike and only a bit higher now since sales tax is levied against a higher base. There are other factors at work in the CA price going up $3.
Since CA uses special formulations, refining capacity is limited as a result, and people are rushing to fill up their tanks before it goes higher, speculative supply constraints driving price would be the plausible reasons. The dynamic at work is not unlike $1 rolls of toilet paper being hawked for much more in the early days of the pandemic after the store shelves were wiped out.
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Gas prices going up this quickly is a bit of a scam. They are jacking up the price on gas that was already made and is already sitting in the tank in the ground at your local gas station.
There is also a delay between the time when they buy the crude, refine it, and then ship it to the gas stations.
Funny how the prices go up instantly when the price of crude on the market goes up, but when the price of crude goes down, they don't lower the price of gas for weeks, or even months.
I'm waiting for the oil companies to announce record profits soon.
There is also a delay between the time when they buy the crude, refine it, and then ship it to the gas stations.
Funny how the prices go up instantly when the price of crude on the market goes up, but when the price of crude goes down, they don't lower the price of gas for weeks, or even months.
I'm waiting for the oil companies to announce record profits soon.
Good one.
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- Denver, CO
OK, I thought it was worse as your gas is always way higher than ours even outside of the BS going on now.
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- Plano, Texas, USA
Another reason CA gas price is high is because the gas stations can only use “local” produced gasoline from CA refineries. They can’t get cheaper gasoline from out of states. A monopoly I believe.
1
181962
That was implied in what I said--special formulation, limited refining capacity for such.
1
181962
It's not mine. I live in New York.
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- Denver, CO
Ah. Apologies.
You certainly contributed.
Stop panic buying.
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- Plano, Texas, USA
Did get 2 5-quart jugs of Castrol Edge 0W-20 with black container at San Jose Walmart last November for $21.97 per jug after MyFirstMazda posted this:
Oil on sale at Walmart
Germen invented synthetic oil during WWII due to the difficulty of getting the crude oil. And I don’t expect the price of full synthetic oil will jump that much like gasoline price other than following the current high inflation rate.
BTW, I have also noticed that the cost for some of my long-term prescriptions have really shot up drastically, not 50%, but 3 ~ 4X! Incredible!
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Just bought it off a whim, 3 jugs of the green bottle magnatec. The price of a 5 liter jug of Ravenol oil, fully synthetic German made, has only gone up a buck.
List of things made from oil:
Pharma stuff is one of them
https://www.energy.gov/sites/prod/files/2019/11/f68/Products Made From Oil and Natural Gas Infographic.pdf
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1
181962
Yup. There are 42 gallons in a barrel. A $42 change in a barrel of oil translates to $1 for 4 quarts of crude. And you're not using 10 or 20 gallons of motor oil every week. Compared to gasoline, the cost of the crude stock is a very small fraction of the cost of the end product.
Anyway, the front month futures on the WTI crude benchmark, the most commonly quoted oil price (which may have little relation to a refiner's contracted cost for oil delivered that day, or the cost of a retailer's gasoline delivered that day) has dropped from $130 intraday on Tuesday to $106 today.
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