Posted on 03/16/2020 12:54:20 AM PDT by nickcarraway
Easy for you to say......
3.05
ARCO (165 reviews)
73980 CA-111 & Portola Ave
Palm Desert
8h ago
Yup. Was going to say exactly the same thing.
Retailers have to work through their inventory that they paid $X per gallon. Once the inventory that is gone they can charge $Y/gallon. With the assumption price Y < X .
It’s kinda goofy where I live. There is a Valero station I always pass just before I get on the freeway. It is always at least 20 cents more than the stations I pass a further distance from the freeway. However, today those stations were stuck on the same price they’ve been at for a week, $1.99, while that station was at $1.82.
I’ve seen signs of that sort of stuff all over.
In a way, I’m feeling a bit like I’m living in a “pseudo post apocalyptic world where everybody and everything is fine, but it’s all still shut down.
To quote a dead leader, “we have nothing to fear but fear itself.”
$$$$$$$$$$$$$$$
Yeah, it’s *got to work it’s way through the system.*
Because they don't sell Crude Oil at the pump? The price you're looking at on the pump for gasoline, is the cost of Industry, Transportation, Labor and Taxes. We have been paying close to cost for a few years now. Anything under $2/gallon is moving the product along at a loss.
What a coincidence........
RE-FI YOUR MORTGAGES NOW TOO!!
where is “here”
Make sure you give a location if you are going to post a “I paid XXX here last night” post.
Last I checked wholesale for a gallon of regular was $.97.
Prices here (Texas) have dropped significantly - 15%, or more. It must be kept in mind that the cost of the raw material, oil, is only a part of the final price. The costs of, transporting it to the refinery, then refining it, and then getting it to the consumer, then the huge TAXES, all are fixed. The raw oil cost is the only thing that has dropped.
Bingo!
It is just like Interest rates are now 0 and look at your Credit Card interest rates.
I have great credit and my interest rate is 17.40% (Prime + 12.65%). WTF?
I am told that is really good, and I am not buying it. That was crap credit in the 1990s with higher interest rates by the Fed.
Good thing is I pay off my credit card every month, and I get cash back for it. So everything goes on it and everything gets paid off, and 0 interest is paid. I only use it for the cash back purchases.
It may also be the depreciation of the dollar.
The Fed is printing (well really typing on a key board) more USD. So we are seeing a depreciation of the dollar. Check out this web site.
https://www.in2013dollars.com/us/inflation/1970?amount=20
Still 3 bucks in the People’s Soviet of Washintgon
Uh. This isn’t hard. Oil and gas are bought on the futures market. Yeah-it does go up immediately (which is how they get you)-but the price of the stuff in the ground at the gas station isn’t what is reflected on the TV. That’s next month’s contracts. However-right now-has futures (RBOB) are through the floor-$.69. That’s down 23%.
Middle of the country. The USA that is. Let’s say, Missouri.
Taxes and cost to refine and ship are inflexible.
Price reductions take a few weeks to reflect at the pump. Speculation of higher price per barrel and the pump prices are jacked up the next morning.
They have dove here in Alabama. Most stations are below $2.00. Out on the National Guard base I paid $1.74 this past weekend.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.