Just wondering.....

[BobsAuto]

With the gas prices going up and down like a yo-yo here in NH and having almost a 10cent difference from one end of the state to the other.....I decided to take an informal poll of IT drivers. Here are the two questions in the poll....

1) Where are you from, city and state?

2) What is the price for a gallon of unleaded regular gas in your area?

Thanks.

ps. Concord, NH area is $2.91 THIS week. Last week it was $2.99 because of the Nextel Cup event.

[pgipson]

In the Phoenix AZ area unleaded regular is $2.90 (+/-). The price was under 2.80 a couple of weeks ago but has been trending up most of the month. The (+/-) variance can be as much as 8 cents either way across the valley.

[ddewhurst]

Milwaukee, WI $3.30 five days ago, $3.15 today. It has been staying above $3.00 for several weeks. As I read/listen to news about the price of gas I say to myself why dose it REALLY floop back & forth from $3.00 to $3.30. Hell, I also say why is gas $3.00 per gallon when we read about gas company profit.

[Bill Miller]

Here in Central NJ, it ranges from a low of $2.95.9 to $3.29.9 for a gallon of 87 octane unleaded regular. I've seen diesel from the mid $2.70's to the mid $2.80s. Someone told me that $4/gallon is about a month away, due to the Israel/Lebanon/Iran thing.

[lateapex911]

I think it's in the $3.50 range here in Westport CT, but honestly I pay little attention to it. so it might be higher or lower by a quarter or so, but I just filled up and the bill was about $76 for 21 or so gallons, so it isn't under $3/gal.

Search the web, google "gas prices"...there's a site that tracks it all.

[tom_sprecher]

Hell, I also say why is gas $3.00 per gallon when we read about gas company profit.
[/b]

This is not directed at any one individual and is more to relay on what I have found out about the subject. I do not work for any oil company. In general, all companies add a percentage, called gross margin, to the price of the product they sell. Part of the gross margin is profit and everyone is in business to make a profit. So by reason when the price of the product goes up the resultant profit goes up.

What is interesting is that the averaged profit made by oil companies when compared to all other industries combined when expressed as a percentage is about the same at 5.5%. If you want to bitch at someone, look up what banks make. Its more like 18-20% and I assume you spend more in interest that you do in gas. Although a certain amount of bias may exist you can chek it out here

Almost 60% of the price of gas is the cost of crude which is controlled in today's market by oil exporting countries ability or desire to increase or decrease supply. Oil is still very much a supply and demand market and commodities traders and their fear of reduced supply due to weather or geo-politcal unrest have kept the price of oil high even thought there is a slight surplus at this time. Taxes vary but generally account for 20% of the cost. The rest is refining and marketing at about 10% each. A simple explanation is offered here

It's amazing how people complain about a companies excess profits but never open their pie holes when the same company suffers a loss. And if you want to see some real highs and lows look at big oil's record over the past 15 - 20 years. Remember the joke that went around in the 80's that went like this.

Q: What to you call a Texas oil man?

A: Hey, waiter!

Roughly one half of all oil is refined into gasoline. The US alone consumes 178 million gallons of gas a day. That's 63 billion gallons a year! If the oil companies decided to make zero world wide profit on the sale of gasoline it wouldn't even make a dent in the price of a gallon of gas.

Besides, do you want someone telling you how much money you should be able to make? Me neither.

[MIKEGTR]

1) Guaynabo, Puerto Rico

2)Regular Unleaded is at $2.69 this week
Premium Unleaded is at $3.01 this week


Mike

[Ron Earp]

People complain about gas prices a lot. I don't know why, we're still much cheaper than Europe by a long shot.

And, people still happliy pay $1.25 for a bottle of water at the convienent mart, or a $1.25 in a resturant for a glass of Coke. Or $4.00 for a microbrew beer at the bar. Gas is much cheaper than any of these items and a heck of a lot more useful!

Ron

[lateapex911]

Ron, I was going to make all those points, but....,

You're prices are a bit low...LOL. A bottle of, say aCorona, is over $6 bucks in New England/New York.

That water?? It's $1.50 for a 16 oz bottle....which is $12.00 a gallon...for plain old WATER! (Which, when sourced from an advanced bulk pressurized deivery systems costs less than 1/1000 of that price...LOL.

And the cost of owning and moving a car in the UK and Europe is MUCH more expensive. We've been buying gas a hugely artificail prices for years. Just look at the antiquated barges that the American companies continue to sell buckets of.

[jhooten]

I am so tired of the "they pay more in Europe" argument. The base price of the gas is the same in the US and over there. The additional cost over there is TAXES.

[lateapex911]

Be that as it may, the result is that they drive cars that are hugely less wasteful, and we drive oversized/over optioned/over consuming barges.

[Banzai240]

...and we drive oversized/over optioned/over consuming barges.
[/b]

God Bless America!!

[ddewhurst]

***What is interesting is that the averaged profit made by oil companies when compared to all other industries combined when expressed as a percentage is about the same at 5.5%.***

Tom, ya reading comics again ?

Read some more comics & will they tell you why prices per gallon go up & down in the same week by 15 to 20 cents.

***Its more like 18-20% and I assume you spend more in interest that you do in gas.***

Wrong, that word assume gets a lot of people in trouble.

[gran racing]

I assume you spend more in interest that you do in gas. [/b]

Sure, but the oil company also didn&#39;t give me a loan so I can buy a house and a car - so I can buy gas <_< . And interest rates have been pretty freakn&#39; low over the past couple of years.

What is interesting is that the averaged profit made by oil companies when compared to all other industries combined when expressed as a percentage is about the same at 5.5%.[/b]

That&#39;s a crock! Yeah, I also feel bad for the Yankees who reported a loss over the past few years. Or like saying many people in non-profits aren&#39;t earning huge salaries.

[Nickel Dime]

Norfolk, Va. - 2.99 for regular

At my last race I averaged 10.9 mpg on track while my tow vehicle gets 10 mpg. I found it odd that I get better fuel mileage while racing than I do just getting there. I guess there are some advantages to running ITC.

[JamesB]

I paid 2.94 for regular near the NY boarder, I paid 2.84 at flying J in VA last night, its 3.10 in laurel, MD. And yes the tow with an enclosed to the glen did hurt a little, but thanks to the rain, I was happy to have that enclosed with me.

[Bill Miller]

Be that as it may, the result is that they drive cars that are hugely less wasteful, and we drive oversized/over optioned/over consuming barges.
[/b]

The Europe / US thing really isn&#39;t valid. We can&#39;t get a lot of those highly fuel efficient cars over here, because most of the mfg&#39;s won&#39;t invest the money that it would take to get them DOT / NHTSA approved. Even more important than that though, is the public transportation system in Europe puts ours to shame!

[tom_sprecher]

***What is interesting is that the averaged profit made by oil companies when compared to all other industries combined when expressed as a percentage is about the same at 5.5%.***

Tom, ya reading comics again ?

Read some more comics & will they tell you why prices per gallon go up & down in the same week by 15 to 20 cents.

***Its more like 18-20% and I assume you spend more in interest that you do in gas.***

Wrong, that word assume gets a lot of people in trouble.
[/b]

Look, I don&#39;t make this stuff up that&#39;s why I provided links so you too could look into the facts. Believe what you want, because I honestly don&#39;t care, I do it more to help improve the often myopic view many people tend to have. I just prefer to back up my statements with at least one published reference and I tend not to reference the comics.

With reference to 15 to 20 cents on a $3 a gallon gas: that works out to about a 5-7% price fluctuation. To make it simple for those who don’t do math it’s like 5 cents on $1 a gallon gas. Relatively speaking, that ain&#39;t squat in today’s oil market and most reasonable people would agree that trivial amount does not require an explanation from anybody.

As I said in the preface of my last post my statements were not aimed at anyone in particular, but since I have been called to task here goes. The average house price is like $219k in the US. Assuming 10% down and 6% interest on a 30 year loan the first year one would pay $12,481 in interest. At $3 a gallon that&#39;s 4,160 gallons of gas. If one gets only 15 mpg that&#39;s like 62,408 miles driven in a year.

That seems like a lot, but I don&#39;t know, maybe the trailer home is finally paid off and one drives an old WWII surplus army tank 25 miles round trip to work everyday. Maybe one does indeed pay more in a year for gas than interest on the house, but generally speaking that person would be the exception and not the rule.

As explained here for the third time my statements are not aimed at anyone in particular. If my use of pronouns confuses anyone I am sorry for them.

Sure, but the oil company also didn&#39;t give me a loan so I can buy a house and a car - so I can buy gas <_< . And interest rates have been pretty freakn&#39; low over the past couple of years.
That&#39;s a crock! Yeah, I also feel bad for the Yankees who reported a loss over the past few years. Or like saying many people in non-profits aren&#39;t earning huge salaries.
[/b]

Banks don’t give you loans, they sell you loans just like oil companies sell you gas. My point is their profit margin (depending on how it&#39;s calculated) is almost 2-4 times greater than the oil companies, but I don’t hear anybody bitchin’ about it.

As far as the Yankees or non profits go I got nothin&#39;. I have a difficult time following logic that seeks to make a point by trying to connect unrelated topics without providing some reason as to why any of it would apply.

Don’t take my word for it. Read the following articles, learn something about the subject and you just may see the big picture.

Rference #1

Reference #2

Reference #3

Reference #4

After that you&#39;re on your own.

[Dave Ebersole]

I think oil co. profits have been more in the 10% range but that isn&#39;t out of line with other business profits / expectations.

By the way, 87 octane in the west-central PA area is going for $2.95. That was yesterday anyway.

[lateapex911]

The Europe / US thing really isn&#39;t valid. We can&#39;t get a lot of those highly fuel efficient cars over here, because most of the mfg&#39;s won&#39;t invest the money that it would take to get them DOT / NHTSA approved. Even more important than that though, is the public transportation system in Europe puts ours to shame!
[/b]

To a degree, that&#39;s true.

But, lets face it...we could have all the fuel efficient cars we wanted, if it made business sense for the companies to bring them. Toyota and Honda have no problem meeting regs AND hitting great economy marks.

Fact is, as a country, we are bigger, fatter lazier and like to drive big wasteful cars. We also like to whine about gas prices. But sell the daily driver Suburban? Not on your life! LOL It&#39;s "safer" they say. As in you can hit a Honda and not notice....I guess.

(At least may of us, as racers use the big trucks we own in roles that they were menat to do...haul stuff like cars and boats...and that&#39;s fine. But when a single Mommy "NEED"s a big 7 passenger SUV with 4 wheel drive and has one kid and lives in a non snowbelt, I gotta cry foul.)