The Dayton area prices are $2.12-$2.14 on the low side around the northern part of metro. Solidly distributed across brands and throughout.
The Cincy price of $2.03 is at a Costco. I _assume_ that includes a discount for members only... The more common prices are $2.07-$2.09 and $2.15 seems more prevalent through the north of Cincinnati.
So don't feel too bad-it's not really $2.03 at more than one station.
As an alumnus may I correct you respectfully: you mean "Miami University." There is no Miami-Ohio. There may be a Miami Florida which should be University of Miami. The Miami-Ohio is a sports reporter shortcut that has always irritated me. Now I've said that, I feel better.
Gas is down to $2.35 in So. MD. That's 60 cents cheaper than it was 6 weeks ago. Crude oil prices have declined by around $11 in this same period. For every dollar change in the price of crude you can, on average, expect a 2 to 3 cent change in the cost of gasoline. So there is something else going on right now. Probably high gasoline inventories. I think that American motorists might have some pent up demand and will express this through greater consumption in the coming weeks. We may see this above average gasoline inventory rapidly decline to traditional levels resulting in stabilizing gas prices.
On another note, does Saudi Arabia even need OPEC? My understanding is that they are pumping between 10 and 11 million barrels a day. What would the impact on the market be if they cut that by 2 million barrels a day? With everyone else pumping at or near capacity I don't see how this deficit could be easily made up, or, if it could be made up at all. The result might be oil prices that are 25% higher, I'm speculating. But if that's the case why wouldn't a country desire to produce 20% less and sell at a 25% higher price? Your revenue remains the same yet your reserves are now worth more and will last longer. Its a no-brainer business decision and one that the Saudis are in a position to make unilaterally. Again, why do they need OPEC?
What would the impact on the market be if they cut that by 2 million barrels a day?
There is one slight glitch in that thinking. We are the Saudi protectorate. I believe they increased production to keep our military happy. If we were to stand back from the Royal family in Saudi, they would fall in a heartbeat. Then you would have the likes of bin Laden followers to deal with. They could care less about world economics. It is not likely they will cut production. They have already said they are happy with $30 per barrel oil. They have huge investments in the US that are impacted by over priced oil. It is a balancing act that the commodity dealers play with. The news media feeds the frenzy and the next thing you know oil is way out of control. I think with a slight surplus in supply the price will come down to a good level for all of us.
...the lower gasoline prices as long as idiots don't rush out and get monster SUVs forgetting what we've all been through. If there was any silver lining to the dark cloud of high fuel prices, it briefly cleared the streets of those clumsy, sight-obscuring SUVs.
I think with a slight surplus in supply the price will come down to a good level for all of us.
What's a good level? While $65/barrel oil is very expensive compared to the late 90's is it really all that expensive historically? I doubt that its exceeded inflation over the past 40 years. Then take into consideration that our cars/trucks are probably twice as efficient as 40 years ago I don't see the price of oil being that significant, at least not at $60-$65. I agree that the Saudis will do everything within their power to keep the price from going too high but the bar as been raised recently as to what is considered too high. Barring a global economic recession I'd be very surprised to see oil go below $50 for any extended period of time. And I think the long term average will probably be $60+. But I've been wrong before.
I personally like SUV's and wished I owned what you'd call a monster Suburban or better yet a Cadillac Escalade ESV :shades: Why ? Well when you have family come from out of town, it's nice to take "1" vehicle. Luckily grandpa braught his Saturn relay which fits 7' people. I must say it was just okay as far as comfort goes. A burban or Lac ESV would of been much more comfy
Neways I paid the $2.67 for shell V-power this morning and regular was still $2.47 in Amarillo. Dad, thinks I need a fuel filter change on the stang to fix my problem.
Correction to my last post. After doing some research it turns out that the increase in the price of oil has exceeded inflation by a considerable amount over the past 40 years. However the price of gasoline has not, which is primarily what we are concerned with.
I can go along with that price. I think $60 oil is more than the market will bear long term. I know with the price where it is currently the activity in the Alaska oil field is crazy. Every camp is full and they are trying to build facilities to handle at least another 1000 workers by this winter. They are finally going to address some of the worn out pipe & infrasturcture. Not unlike our highway system that has gone to the dogs. America is crumbling around us. Where is my fiddle?
Down to $2.34 for 87 at a couple of local stations this afternoon.....and they didn't even look particularly busy. We might be at $2.25 (locally) by the end of next week.
tpe: But if that's the case why wouldn't a country desire to produce 20% less and sell at a 25% higher price?
me: That looks like the right decision, until you consider that the decision does not just involve future oil-revenue, BUT it also includes returns on years of wealth - billions and billions of global investments. It would not be such a good business decision to try and make a few extra billion $'s in 2007, if the 25% oil increase causes a global recession, and your $300B+ in stocks, bonds, real estate lose 10%+.
Plus why would Saudi Arabia want to po. a military protector?
No movement here in NH today. 93 octane still $2.79, with 87 - $0.20 less.
If we could "all" band together and cut back our ussage, lets say, 20%.
20%? I've heard so-called experts say that if we could cut our consumption by even 3% it would have a tremendous impact on prices. Unfortunately we probably aren't even capable of doing that. During this period of high gas prices our consumption still rose by about 1/2% over the previous year. Analysts considered that to be kind of a reduction because consumption typically increases by 2% a year. So it seems the best we are capable of is slowing the increase. Decrease is not in the vocabulary.
I'm not suggesting that Saudi Arabia would want to raise the existing price by 25% and for the very reason you mentioned. What I'm saying is that it has now been demonstrated that $60+ oil prices won't cause global economic collapse. That being the case I don't see why they'd ever let the price go much below that. And they are in the position to make that happen.
As far as outside investments goes. How do you know they haven't invested these billions in oil companies like Exxon/Mobil or other ventures that would benefit from high oil prices? How do you know they don't have people placing wagers on the oil commodity market? The idea that the Saudis are beholding to the US because we protect them is somewhat dubious. All it takes is money to protect your interest and they have a lot. They spend a huge amount securing their wide ranging, extensive oil infrastructure from sabotage and attack from dissident groups. Seriously, what does the US have to offer. You've seen how effective our military is at securing this region.
i'll put this in the college file; 'very sensitive alumni'. also, they are not good motorcycle drivers. 1809 room serves a good meal. local petrol prices still in the 2.70's.
2024 Ford F-150 STX, 2023 Ford Explorer ST, 91 Mustang GT vert
i do know the 'miami' refers to the miami indians. my bil's father is a professor emeritus, so we got a good unofficial tour before the official tour. if ohio would start taking ez-pass, i could save a little more fuel.
2024 Ford F-150 STX, 2023 Ford Explorer ST, 91 Mustang GT vert
tpe: You've seen how effective our military is at securing this region.
me: Once we win our technological war - plane vs. plane, tank vs. tank, we are not prepared to do what is necessary to win the peace. You may have deplored Sadddam's methods, but that is what may be required. The failure is not a military one, but our rules-of-engagement, and control of the population that we proceed by.
I'm getting jealous of you guys; I still haven't seen anything below $2.56 here in NH, though I hear 2 counties east it's $2.25/gal.
I paid $2.52/gal last night for 93 octane premium at the local Shell station. Regular (87) was at $2.32 and midgrade was $2.42. Didn't check the diesel price.
What's odd is that the 87 octane was MORE just two weeks ago ($2.53) than what I paid last night for premium.
I'm curious - is it possible that the gas industry was trying to build up a reserve supply throughout the summer anticipating a disruption in supply later in the summer due to a hurricane? And then, with the end of the summer driving season AND no major storms disrupting supplies they've found themselves sitting on larger than expected reserves?
In answer to your question, I think that's highly likely. After all this hurricane season was predicted to be very active again. Didn't happen (for the Atlantic that is; the Pacific has been another matter).
But this doesn't square with all those conspiracy theories, though!
And in regard to L.A. gas prices, I wouldn't despair. Last December, when we were there, we paid about $2.25 at name brand stations for 87, and the best we could find on the cross-country drive back to Virginia was $2.05 (ironically in metro areas like Kansas City and Indianapolis).
I'm curious - is it possible that the gas industry was trying to build up a reserve supply throughout the summer anticipating a disruption in supply later in the summer due to a hurricane? And then, with the end of the summer driving season AND no major storms disrupting supplies they've found themselves sitting on larger than expected reserves?
rorr, November is right around the corner pal. :P That is my conspiracy theory.
Neways gas at the Shell station I usually go to drop to $2.41 for 86' slop. I filled up the ol' Mustang with 90' premium? V-Power AGAIN. I'm trying to clean my fuel injectors of the many miles I used 86' slop. Shell, gas is rated as a top tier fuel and many consumers are now claiming V-Power as the best ?
Can we schedule an election every couple-a-months? Here in Ohioer we have a highly contest governor's race with a congressman running against an insider with baggage and a Senator, Dewine, being challenged by a congressman for his longheld senate seat.
Marathon Oil has a regional office in Findlay (did corporate headquarters used to be Findlay?) and Speedway/GasAmerica is headquartered in Enon.
And soon they'll be able to tell us the shortage of gasoline is because they're having to change their cracking to provide more heating oil to the Northeast where so many homes and businesses rely on that source of heat. That usually is the reason for price jumps shortly before truly cold season arrives here in the Non Texas cold states. Grin.
I'm serious imidazol97, it can get very cold here. The "Blue Northerns" as they call em' here can leave feet of snow. I, 2 years ago had 2 1/2 feet of snow in my yard. The West Texas Panhandle also is known for it's famous wind, and it doesn't stop in the winter time either creating a driving experience equivalent to driving with a white bed sheet over your windshield. :surprise:
Neways gas here in Dumas is $2.47 and $2.48 as I drove in on the S' side of town.
"Ask rorr, how cold it gets here in the NW Panhandle pal."
Pretty....freaking.....cold.
No kidding about the Blue Northers. I read somewhere (can't remember where) that it's not unusual for one to drop temperatures 45-50 degrees in 24 hours. I think the record temp swing in the Panhandle is close to a 60 degree drop in 24 hours from a blue norther coming in.
we had an article in the local paper about 'zone pricing' at the wholesale level. the jist of it was that the affluent areas(fairfield county area) pay more than the less affluent areas(bristol cited specifically). 'bristol' as in home of espn.
2024 Ford F-150 STX, 2023 Ford Explorer ST, 91 Mustang GT vert
Comments
The Cincy price of $2.03 is at a Costco. I _assume_ that includes a discount for members only... The more common prices are $2.07-$2.09 and $2.15 seems more prevalent through the north of Cincinnati.
So don't feel too bad-it's not really $2.03 at more than one station.
2014 Malibu 2LT, 2015 Cruze 2LT,
As an alumnus may I correct you respectfully: you mean "Miami University." There is no Miami-Ohio. There may be a Miami Florida which should be University of Miami. The Miami-Ohio is a sports reporter shortcut that has always irritated me. Now I've said that, I feel better.
2014 Malibu 2LT, 2015 Cruze 2LT,
Further south in PA I've seen as low as $2.33
On another note, does Saudi Arabia even need OPEC? My understanding is that they are pumping between 10 and 11 million barrels a day. What would the impact on the market be if they cut that by 2 million barrels a day? With everyone else pumping at or near capacity I don't see how this deficit could be easily made up, or, if it could be made up at all. The result might be oil prices that are 25% higher, I'm speculating. But if that's the case why wouldn't a country desire to produce 20% less and sell at a 25% higher price? Your revenue remains the same yet your reserves are now worth more and will last longer. Its a no-brainer business decision and one that the Saudis are in a position to make unilaterally. Again, why do they need OPEC?
There is one slight glitch in that thinking. We are the Saudi protectorate. I believe they increased production to keep our military happy. If we were to stand back from the Royal family in Saudi, they would fall in a heartbeat. Then you would have the likes of bin Laden followers to deal with. They could care less about world economics. It is not likely they will cut production. They have already said they are happy with $30 per barrel oil. They have huge investments in the US that are impacted by over priced oil. It is a balancing act that the commodity dealers play with. The news media feeds the frenzy and the next thing you know oil is way out of control. I think with a slight surplus in supply the price will come down to a good level for all of us.
What's a good level? While $65/barrel oil is very expensive compared to the late 90's is it really all that expensive historically? I doubt that its exceeded inflation over the past 40 years. Then take into consideration that our cars/trucks are probably twice as efficient as 40 years ago I don't see the price of oil being that significant, at least not at $60-$65. I agree that the Saudis will do everything within their power to keep the price from going too high but the bar as been raised recently as to what is considered too high. Barring a global economic recession I'd be very surprised to see oil go below $50 for any extended period of time. And I think the long term average will probably be $60+. But I've been wrong before.
I personally like SUV's and wished I owned what you'd call a monster Suburban or better yet a Cadillac Escalade ESV :shades: Why ? Well when you have family come from out of town, it's nice to take "1" vehicle. Luckily grandpa braught his Saturn relay which fits 7' people. I must say it was just okay as far as comfort goes. A burban or Lac ESV would of been much more comfy
Neways I paid the $2.67 for shell V-power this morning and regular was still $2.47 in Amarillo. Dad, thinks I need a fuel filter change on the stang to fix my problem.
Rocky
I can go along with that price. I think $60 oil is more than the market will bear long term. I know with the price where it is currently the activity in the Alaska oil field is crazy. Every camp is full and they are trying to build facilities to handle at least another 1000 workers by this winter. They are finally going to address some of the worn out pipe & infrasturcture. Not unlike our highway system that has gone to the dogs. America is crumbling around us. Where is my fiddle?
2015 Mazda 3 Skyactive 6spd. auto 2008 Mazda Tribute S 4spd auto.
I know it will never, ever happen, but wouldn't it be nice if we could call the shots! OPEC should be at OUR mercy!
I paid $2.99 for premium at Costco yesterday in Laguna Hills, CA.
Mark
me: That looks like the right decision, until you consider that the decision does not just involve future oil-revenue, BUT it also includes returns on years of wealth - billions and billions of global investments. It would not be such a good business decision to try and make a few extra billion $'s in 2007, if the 25% oil increase causes a global recession, and your $300B+ in stocks, bonds, real estate lose 10%+.
Plus why would Saudi Arabia want to po. a military protector?
No movement here in NH today. 93 octane still $2.79, with 87 - $0.20 less.
20%? I've heard so-called experts say that if we could cut our consumption by even 3% it would have a tremendous impact on prices. Unfortunately we probably aren't even capable of doing that. During this period of high gas prices our consumption still rose by about 1/2% over the previous year. Analysts considered that to be kind of a reduction because consumption typically increases by 2% a year. So it seems the best we are capable of is slowing the increase. Decrease is not in the vocabulary.
As far as outside investments goes. How do you know they haven't invested these billions in oil companies like Exxon/Mobil or other ventures that would benefit from high oil prices? How do you know they don't have people placing wagers on the oil commodity market? The idea that the Saudis are beholding to the US because we protect them is somewhat dubious. All it takes is money to protect your interest and they have a lot. They spend a huge amount securing their wide ranging, extensive oil infrastructure from sabotage and attack from dissident groups. Seriously, what does the US have to offer. You've seen how effective our military is at securing this region.
1809 room serves a good meal.
local petrol prices still in the 2.70's.
Never ate in 1809 when I was there; cafeteria next door instead.
Prices holding at $2.12, 2.13, one at $2.09. There is a station below $2.00, but it's for E85--not real fuel.
2014 Malibu 2LT, 2015 Cruze 2LT,
$1.99 in Oxford, home of Miami University Redskins!
$2.12 in Dayton area. One station at $1.99 for E85 only.
Price around Dayton has stalled at $2.12 at many stations while dropping in Cincy. I'll see more tomorrow when I drive to the Reds game.
2014 Malibu 2LT, 2015 Cruze 2LT,
$1.999 at Speedway and Marathon, same company, one with one without alcohol
In Miami University town, home of Oxford, Ohio.
Will it spread?
2014 Malibu 2LT, 2015 Cruze 2LT,
my bil's father is a professor emeritus, so we got a good unofficial tour before the official tour.
if ohio would start taking ez-pass, i could save a little more fuel.
2024 Jeep Grand Cherokee L Limited Velvet Red over Wicker Beige
2024 Audi Q5 Premium Plus Daytona Gray over Beige
2017 BMW X1 Jet Black over Mocha
Not surprised it's Atlanta. Georgia usually has the lowest gas price comparing to other states.
me: Once we win our technological war - plane vs. plane, tank vs. tank, we are not prepared to do what is necessary to win the peace. You may have deplored Sadddam's methods, but that is what may be required. The failure is not a military one, but our rules-of-engagement, and control of the population that we proceed by.
I'm getting jealous of you guys; I still haven't seen anything below $2.56 here in NH, though I hear 2 counties east it's $2.25/gal.
You're probably right.
My usual Sunoco, price diffs from Sep 6
87 - $2.579 - down 12 cents
89 - $2.679 - down 12 cents
91 - $2.739 - down 12 cents
93 - $2.779 - down 12 cents
diesel - $2.599 - down 16 cents
Filled up with D for just $73 today. That's a shame... "just" $73...
kcram - Pickups Host
Not sure about diesel (wasn't paying attention)
I doubt we'll ever see anything under $2.00 in this state. I'm so envious of most of you!!
What's odd is that the 87 octane was MORE just two weeks ago ($2.53) than what I paid last night for premium.
I'm curious - is it possible that the gas industry was trying to build up a reserve supply throughout the summer anticipating a disruption in supply later in the summer due to a hurricane? And then, with the end of the summer driving season AND no major storms disrupting supplies they've found themselves sitting on larger than expected reserves?
But this doesn't square with all those conspiracy theories, though!
And in regard to L.A. gas prices, I wouldn't despair. Last December, when we were there, we paid about $2.25 at name brand stations for 87, and the best we could find on the cross-country drive back to Virginia was $2.05 (ironically in metro areas like Kansas City and Indianapolis).
rorr, November is right around the corner pal. :P That is my conspiracy theory.
Neways gas at the Shell station I usually go to drop to $2.41 for 86' slop. I filled up the ol' Mustang with 90' premium? V-Power AGAIN. I'm trying to clean my fuel injectors of the many miles I used 86' slop. Shell, gas is rated as a top tier fuel and many consumers are now claiming V-Power as the best ?
Rocky
Abilene, KS has $1.99
Oxford OH has $1.99
Can we schedule an election every couple-a-months? Here in Ohioer we have a highly contest governor's race with a congressman running against an insider with baggage and a Senator, Dewine, being challenged by a congressman for his longheld senate seat.
Marathon Oil has a regional office in Findlay (did corporate headquarters used to be Findlay?) and Speedway/GasAmerica is headquartered in Enon.
And soon they'll be able to tell us the shortage of gasoline is because they're having to change their cracking to provide more heating oil to the Northeast where so many homes and businesses rely on that source of heat. That usually is the reason for price jumps shortly before truly cold season arrives here in the Non Texas cold states. Grin.
2014 Malibu 2LT, 2015 Cruze 2LT,
Ask rorr, how cold it gets here in the NW Panhandle pal. :surprise: BURRRRRRRRRR !!!!!
Rocky
I worked with a lady long ago after the oil boom burst in Houston and she told how ungoldly hot it was and how nice it was to be back in Ohio.
2014 Malibu 2LT, 2015 Cruze 2LT,
Neways gas here in Dumas is $2.47 and $2.48 as I drove in on the S' side of town.
Rocky
Pretty....freaking.....cold.
No kidding about the Blue Northers. I read somewhere (can't remember where) that it's not unusual for one to drop temperatures 45-50 degrees in 24 hours. I think the record temp swing in the Panhandle is close to a 60 degree drop in 24 hours from a blue norther coming in.
I'm not EVEN going there....
the jist of it was that the affluent areas(fairfield county area) pay more than the less affluent areas(bristol cited specifically). 'bristol' as in home of espn.