[OP]
Moderator
Gas prices continue to go down here. Some stations have regular for $1.89 a gallon. I saw others at $1.93, $2.03. Is it the same where you live?
Hey, can someone tell me why diesel is so much higher than gasoline? Diesel is about $1 higher per gallon here.
In Italy, the diesel is cheaper than the gasoline. (Of course the gasoline is about $6 a gallon, or at least it was when I was there recently.)
JKJ
Contributor
Yep, paid $1.88 today here. Funny how a few years ago some oil economist experts were preaching peak oil theory, world supply would soon be depleted. Now we are drowning in a world supply. US became a net oil exporter this last week according to an article published earlier this week.
Last edited by julian abram; 12-10-2018 at 10:33 PM.
Contributor
Your cheap prices won't last long.
Opec is cutting production; the US's largest supplier (Canada) is cutting production to get within smelling distance of West Texas cride's per barrel price;
The producers in the Permian basin cannot make money at these prices, so they will call a halt for a while.
Dont ever compare anything to Italy, except maybe parmisan cheese and the Mafia; that place is going out of business
Last edited by John K Jordan; 12-09-2018 at 11:53 PM. Reason: political
Young enough to remember doing it;
Old enough to wish I could do it again.
Contributor
Paid just over $3.00 per gallon today. I think California still has its own blend so outside gas can not be shipped in unless it is custom refined for the California market.
Bill D.
Contributor
Your regular price is $1.00 per gallon cheaper than ours.Originally Posted by John K Jordan
Ken
So much to learn, so little time.....
Member
And they just jacked our taxes so they can squander the money. Cost $3.49 a gallon when I filled up today.
Last edited by Lee Schierer; 12-10-2018 at 7:11 AM. Reason: banned text
Contributor
The term gallon has a number of definitions
https://en.wikipedia.org/wiki/Gallon
The US gallon is legally defined as 231 cubic inches, which is exactly 3.785411784 litres
The current cost of a gallon in the UK using the USA definition
Petrol $6.35
Diesel $6.16
per USA gallon
Last edited by Brian Deakin; 12-10-2018 at 4:01 AM.
Contributor
Nope, not even close to that.We're probably running about $1.00 more per gallon. We have some really high taxes on gas though, I think the 2nd highest in the country.
I think only California and Hawaii have higher gas prices.
"The first thing you need to know, will likely be the last thing you learn." (Unknown)
Member
Don't bet on this in the Permian/Delaware Basins. Oil production is a complicated dance that includes price and cost, but also lease requirements (produce it, or loose it). And some wells have been producing for years, with (old) lower completion cost and already recovered capital, so they can be produced profitably at relatively lower retail prices.
As Julian pointed out, USA is net exporter now*. OPEC can certainly influence prices, but they can no longer dictate them.
IMHO, if you've always wanted that classic '70s muscle car with a 429 Cobra Jet, getting 6mpg, now is probably a good time.
* - (Media largely ignored this; they were too busy that week crucifying Kanye West.)
Last edited by Malcolm McLeod; 12-10-2018 at 6:54 AM.
Contributor
Pennsylvania is right up there too. New Jersey recently enacted a $.25/gal. tax increase and they're still 25 to 30 cents a gallon cheaper than PA.
Contributor
Black is the new gold.
Gas prices have gone down here as well, but not by a whole lot. Here is an interesting fact: The GDP growth/decline of Trinidad, if graphed next to the price of fuel per barrel, follows the EXACT same trend. Also Venezuela's suffering is in part due to gambling everything on oil prices. (Keeping in mind the forum's rule on politics- leaving out the political reasons.) It's a worldwide catch 22- Prices go down: Good for consumer, bad for suppliers. Prices go up: bad for consumer, good for suppliers. By the way, Exon in Guyana just found a massive supply of oil that they believe is one of the largest in the world. Guyana's GDP went up something like 5%, but they are saying that it's actually not going to do them a whole lot of good because most of the drilling is offshore and will not create a whole lot of jobs.
As for diesel in the US, it's because of heavy taxes levied on diesel to (a) pay for roads that transport trucks play a large role in the wear and tear on, and (b) environmental reasons. This happened in the late 80's or early 90's, and before that diesel was cheaper in the US to regular petrol.
Member
here we are right around $2.00
Member
$1.83 is the cheapest here. It's dropping every day.
Member
NH yesterday was $2.45 for regular (87 octane).
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Locally, it's at about $2.40, but that's down considerably from where it was not so long ago.
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