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Lawrie 04-20-2020 04:19 PM

oil price.
 

I see the oil price went below zero today.
I might take the 33 over to the servo and see how much they will pay to fill it up.
Lawrie

JSeery 04-20-2020 04:21 PM

Re: oil price.
 

Oil prices Lawrie, not gas! LOL

Hoop 04-20-2020 04:32 PM

Re: oil price.
 

"Oil prices Lawrie, not gas! LOL" JSeery

( ... amazing.)

rotorwrench 04-20-2020 04:37 PM

Re: oil price.
 

I hope the oil producers didn't have too many outstanding high priced loans to kick their butt.

I figured with the US Fed tax at 18.4 cents per gallon and the Texas state tax at 20 cents per gallon that the price of gas would be 70.9 cents per gallon to get down close to the price I paid per gallon when I was kid. It averaged around 31.9 cents per gallon back then unless there was a gas war going on. I don't know what the tax was back then so I can't calculate for that but there couldn't have been much. My wife bought some yesterday for $1.109 per gallon so it's not far off.

JSeery 04-20-2020 04:45 PM

Re: oil price.
 

Lawrie, any idea what the taxes are in Australia? I have no idea on our state fuel taxes, but the pump price today was $1.13 for 89 octane.

Cobra Joe 04-20-2020 05:14 PM

Re: oil price.
 

$1.63 here today, lowest i can remember in a L-O-N-G time.

When i started driving it was .59....

51woodie 04-20-2020 05:15 PM

Re: oil price.
 

Lawrie, are you talking liters or gallons? We sell gas by the liter in Canada, and it is currently $0.89 a liter. Convert (roughly) to US gallons, it translated to $3.57 per gallon in Canadian dollars.

Lawrie 04-20-2020 05:18 PM

Re: oil price.
 

In town the other day it was $1.05 per litre, thats about 3.50 per US gal.
I will get a better idea this morning.we are out to the butchers and will fill the 33 up then.
Our Gov takes about 60% of the cost in taxes of one sort or another.
I think by comparison its still cheaper than when I was an apprentice at GM.wages were 33 cents /hr, fuel was 33 cents IMP gal, so it took one hr work for a gal of fuel.
Kid across the street started a heavy equipment fitter apprenticeship at $16 per hr.
so way better off.
Lawrie

JSeery 04-20-2020 05:30 PM

Re: oil price.
 

And with the increase in mileage on new vehicles, fuel is actually much cheaper when you look at salaries and mileage. In my high school days my mileage was in the 10 to 15 mpg range, and that was on a good week! A heavy foot didn't help much. On the 30 and 40s cars the prices should be a good comparison.

Ron Pilger 04-20-2020 05:32 PM

Re: oil price.
 

51 Woodie, post 7, in Alberta regular gas is well under 60 cents per liter today.

Joe Immler 04-20-2020 05:32 PM

Re: oil price.
 

In Ohio (my town) it is $1.02. My grocery market offers fuel perks per dollar spent at the store. I was set up for $1.00 per gallon. So....I paid 2 cents a gallon !! I filled the car and 3 gas containers. Wish I had a large tank on a trailer or something. In an interview on the news today a politician said one thing we can be absolutely sure..the price of oil will go up.

51woodie 04-20-2020 05:34 PM

Re: oil price.
 

When I was a teenager riding a 175cc Honda, I used to gas up at night, as the price was a lot lower than during the day. Assuming the statute of limitations are in play, I should be okay to explain. In those days, the stations turned the power off to the pumps, closed up, and went home. The old style nozzles would still activate when you squeezed the lever, so I would make a circuit of a few pumps, lift the hose up, squeeze, and drain the remnant gas in the hose into the tank. This worked pretty good until my father was coming home late from shift, saw me, stopped, and asked what I was doing? I said "Nuthin!" That was the day I found out may father was still smarter and stronger than me. Always paid for my gas after that :)

G.M. 04-20-2020 05:55 PM

Re: oil price.
 

Quote:

Originally Posted by rotorwrench (Post 1877080)
I hope the oil producers didn't have too many outstanding high priced loans to kick their butt.

I figured with the US Fed tax at 18.4 cents per gallon and the Texas state tax at 20 cents per gallon that the price of gas would be 70.9 cents per gallon to get down close to the price I paid per gallon when I was kid. It averaged around 31.9 cents per gallon back then unless there was a gas war going on. I don't know what the tax was back then so I can't calculate for that but there couldn't have been much. My wife bought some yesterday for $1.109 per gallon so it's not far off.

I remember the tax at $0.13 around 1950 G.M.

Talkwrench 04-20-2020 09:19 PM

Re: oil price.
 

As of today the cheapest around here Perth [Western Australia - most isolated city in the world] 83.7 c / liter . Its the cheapest its ever been ...and we cant go anywhere!!

Aarongriffey 04-20-2020 10:08 PM

Re: oil price.
 

I went from working in a gas station in 1956 in Wisconsin to the Army.
I got out in 1959 and went work in a gas station in St. Paul Minnesota in 1960 and the price was still 29.9 ($.29.9).
In ‘53 during gas price war I saw gas at 11 cents for the last part of a day.
By the way, do you know why there is always a .9 cents on the end of the price of gas in the U.S.? ..?.. it is a temporary tax to help the WW two effort.
There is NOTHING more permanent than a temporary tax.

Lawrie 04-21-2020 01:42 AM

Re: oil price.
 

99 cents a litre this arfo here.
Lawrie

flatjack9 04-21-2020 08:34 AM

Re: oil price.
 

97.9 here in Oshkosh and I get .10 off per gallon on my credit card.

V8COOPMAN 04-21-2020 12:19 PM

Re: oil price.
 

Quote:

Originally Posted by flatjack9 (Post 1877337)
97.9 here in Oshkosh and I get .10 off per gallon on my credit card.


What's amazing is the fact that we have more refineries per square mile located here on the Houston Ship Channel and across the Gulf coast to New Orleans than in any other area of the country that I can see. Yet, while we certainly have never been able to complain much about gasoline prices, it just baffles me, with SOOooo much supply right here in our back yard, why you guys can get gas for 98 cents/gallon when ours in the Houston area averaged $1.60 yesterday afternoon. DD

JSeery 04-21-2020 12:23 PM

Re: oil price.
 

V8 there may be a lot of reasons, one is the state and local taxes added onto the fuel price. Another is different blends. Each state and even regions within a state, require different fuel blends.

Kube 04-21-2020 12:40 PM

Re: oil price.
 

.99 to $1.09 (US dollars) per gallon around here.

ford38v8 04-21-2020 12:56 PM

Re: oil price.
 

Quote:

Originally Posted by V8COOPMAN (Post 1877413)
What's amazing is the fact that we have more refineries per square mile located here on the Houston Ship Channel and across the Gulf coast to New Orleans than in any other area of the country that I can see. Yet, while we certainly have never been able to complain much about gasoline prices, it just baffles me, with SOOooo much supply right here in our back yard, why you guys can get gas for 98 cents/gallon when ours in the Houston area averaged $1.60 yesterday afternoon. DD


Short answer: Because they can.

fordwife 04-21-2020 01:01 PM

Re: oil price.
 

Here in WA state many stores post the cash price and then charge about .10c more if you use a card. Does anyone know why?

flatford8 04-21-2020 01:03 PM

Re: oil price.
 

If oil companies go under.....when demand goes up.....there won’t be enough production to meet the demand......so what do you think prices will be then???......Mark

woodiewagon46 04-21-2020 01:04 PM

Re: oil price.
 

It can be $.50 a gallon everywhere, but on Long Island it will still be over $3.00 a gallon.

flatford8 04-21-2020 01:05 PM

Re: oil price.
 

Quote:

Originally Posted by fordwife (Post 1877437)
Here in WA state many stores post the cash price and then charge about .10c more if you use a card. Does anyone know why?

I believe they have to pay a fee to honor the card....Mark

Kube 04-21-2020 01:11 PM

Re: oil price.
 

Quote:

Originally Posted by fordwife (Post 1877437)
Here in WA state many stores post the cash price and then charge about .10c more if you use a card. Does anyone know why?

Actually, at least here in Wisconsin, it's illegal to charge more to use a credit card. One can offer a discount for cash, but can not increase the price for using a card.
Yes, many places do it, but it remains illegal.
Typically, a card costs the retailer accepting it about 2%. To me, it's part of the cost of doing business - just like heating the building, etc.
And, like heating the building, etc. the cost (about 2%) is added somewhere in to my sale prices.

Kube 04-21-2020 01:12 PM

Re: oil price.
 

Quote:

Originally Posted by flatford8 (Post 1877438)
If oil companies go under.....when demand goes up.....there wont be enough production to meet the demand......so what do you think prices will be then???......Mark

Mark, are you serious or is this a serious case of sarcasm?

Darrell S 04-21-2020 02:48 PM

Re: oil price.
 

The biggest problem with these prices is that it puts US domestic companies out of business. Low prices may seem great but I don't want to go back to being dependent on middle east oil. If the middle east oil producers have no competition you bet their prices will rise. Not to mention all the US jobs lost.

Tim Ayers 04-21-2020 03:50 PM

Re: oil price.
 

It still hasn't dipped under $2.00 in Essex Co., NJ yet. I just paid $2.19 for regular. I was hoping for cheap high test gas. Not today. High test was still near $3.00

Kube 04-21-2020 03:57 PM

Re: oil price.
 

Quote:

Originally Posted by Darrell S (Post 1877490)
The biggest problem with these prices is that it puts US domestic companies out of business. Low prices may seem great but I don't want to go back to being dependent on middle east oil. If the middle east oil producers have no competition you bet their prices will rise. Not to mention all the US jobs lost.

My gosh guys, you really need to study up a bit more prior to making comments. Did a couple of you guys realize that the US oil companies are in the top ten most profitable companies in HISTORY?
Did you know the US government GIVES billions per year for "exploration and research" to these companies?
If they go out of business, tough sh--. They have made enough profits to operate at zero profit for a long time is they so choose or, if they were smart enough to hold on to some of the funds.
I own a few small businesses that are all closed at this time. Guess what? I put away "money for a rainy day" just as Dad taught us and won't have an issue with them being closed for a long time.

petehoovie 04-21-2020 04:10 PM

Re: oil price.
 

Quote:

Originally Posted by flatford8 (Post 1877438)
If oil companies go under.....when demand goes up.....there wont be enough production to meet the demand......so what do you think prices will be then???......Mark


When I reflect on the gas crunch of the mid '70's, I recall that I didn't care what the price was per gallon of gas. My biggest fear was not being able to find where gasoline was even available...I had a long commute back then....

flatford8 04-21-2020 04:36 PM

Re: oil price.
 

No I don’t think oil companies are going out of business.....but with demand low...production goes down.....when demand goes up, if production doesn’t keep pace...prices will definitely go up....I only asked how far do you think they will go?.....we’re at about $1.65 as the lowest I’ve seen in southern Maine.......Mark

ford38v8 04-21-2020 04:37 PM

Re: oil price.
 

Quote:

Originally Posted by Kube (Post 1877512)
My gosh guys, you really need to study up a bit more prior to making comments. Did a couple of you guys realize that the US oil companies are in the top ten most profitable companies in HISTORY?
Did you know the US government GIVES billions per year for "exploration and research" to these companies?
If they go out of business, tough sh--. They have made enough profits to operate at zero profit for a long time is they so choose or, if they were smart enough to hold on to some of the funds.
I own a few small businesses that are all closed at this time. Guess what? I put away "money for a rainy day" just as Dad taught us and won't have an issue with them being closed for a long time.


Mike, What a golden opportunity to become "Too Big To Fail"! ;) :eek:

5851a 04-21-2020 04:52 PM

Re: oil price.
 

I feel no pain for the oil companies, ever notice the price of fuel at holidays or summer travel season. The price around here used to be 2 cents less for gasohol when it came out now it's between 40 and 50 cents less. One mention of a refinery problem or news of shortage will drive the prices up at the pump.

ford38v8 04-21-2020 08:41 PM

Re: oil price.
 

Its called collusion and price fixing. But of course, those have been protected practices Ever since the breakup of Standard Oil 109 years ago.

rbone 04-21-2020 11:19 PM

Re: oil price.
 

$0.999 per gallon for 87 octane at Buccee's in Rockwall, TX today.

RalphM 04-21-2020 11:59 PM

Re: oil price.
 

$1.94 here, and there’s a refinery 10 miles away, not to mention the Alaska pipeline in my back yard!

Lawrie 04-22-2020 01:51 AM

Re: oil price.
 

Do you guys realise we are paying 99C per litre not a gallon , and we think thats good LOl
Lawrie

dumb person 04-22-2020 02:47 AM

Re: oil price.
 

Quote:

Originally Posted by Lawrie (Post 1877653)
Do you guys realise we are paying 99C per litre not a gallon , and we think thats good LOl
Lawrie

I'm at $2 a litre and it's still good!

deuce lover 04-22-2020 03:24 AM

Re: oil price.
 

$1.27 (@ current rate of exchange)a liter here in France.


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