Gas at my neighborhood store, just hit 2.69 a gallon... How are the gas prices in your area? Updated 3/10

[MillauFr]

I never pay attention. I spend more per year on sparkling water than I do on gas

 

[PrincessBelle39]

I'm in Melbourne, Australia and paid $1.69 per litre tonight. That works out at about $6.40AUD per gallon.

 

[Minnesota!]

2.59/Twin Cities. Glad to see it rise - means more people are "moving" again. It was so low because of COVID...people seem to forget that and instead get politics involved.

Last spring, we filled up end of March and then not again until the end of April....it was like that for a good part of the year. Times that by millions of people, is it any wonder the prices were so low? I will gladly pay more per gallon to get this country up and running again.

 

[disneygirlsng]

Was $2.79 near me yesterday, in northwestern VA, near the WV border. This morning it was down to $2.63.

 

[RamblingMad]

Got gas at Costco yesterday. 2.85 a gallon. Everywhere else it’s $3. There is usually a 25 cent difference between Costco and local gas stations here, so a 15 cent difference is really narrow.

 

[MillauFr]

I wonder how gas stations stay in business? Making a few cents off of gas doesn't seem like a viable business model.

 

[kymom99]

I wonder how gas stations stay in business? Making a few cents off of gas doesn't seem like a viable business model.

Interesting point. A few years back one of the gas station/convenience stores in our area stopped selling gas for a while because they said they were kidding money and couldn’t afford to do so. They hung signs up to explain. They did eventually start selling again but the gas wars with neighboring stations was something they could not sustain

 

[Starport Seven-Five]

Minnesota: 2.79/gallon. No surprise, as we now import foreign oil, which is expensive. MO, no flames please. Expect a rise in all things related to oil, which we are seeing now with heating prices.

Oil is sold on the global market. Domestic oil is or foreign oil has little impact on price.

I wonder how gas stations stay in business? Making a few cents off of gas doesn't seem like a viable business model.

I always think that about oil companies. They dig this stuff up, refine it, ship it, and only charge slightly more than a gallon of water for it. Kind of mind boggling.

 

[starry_solo]

$3.49 here in So Cal

 

[bcla]

Oil is sold on the global market. Domestic oil is or foreign oil has little impact on price.


I always think that about oil companies. They dig this stuff up, refine it, ship it, and only charge slightly more than a gallon of water for it. Kind of mind boggling.

Depends on the company. Not all oil companies are as vertically integrated as ExxonMobil or Chevron. Quite a few have split up into separate exploration and refining/marketing. Valero Energy has no exploration and now just does refining. The retail brand was sold to a fuel marketing company. ConocoPhillips is purely an exploration company now after they split off from Phillips 66.

However, the big deal in retail fuel is that there's not much of a margin just on fuel sales. The profit center in retail fuel is convenience store sales.

There might be small price shocks due to regional issues with oil supply, but overall the price depends on world prices. Retail fuel prices are very different though and a few refineries going offline can result in price spikes. When the price of crude oil went negative, that didn't result in substantially lower retail fuel prices. We get price spikes in California since we have a unique fuel requirement that can't be met by most fuel sent in from other states. One refinery going down for maintenance or after an accident can really affect things.

 

[JimMIA]

2.59/Twin Cities. Glad to see it rise - means more people are "moving" again. It was so low because of COVID...people seem to forget that and instead get politics involved.

That's actually not why the price is moving up. The big freeze in Texas affected it, events in the Middle East and between major oil producers like Saudi Arabia and Russia affect it. Lots of factors.

 

[JimMIA]

Miami:

Most local stations are $2.69 for regular. Costco was $2.57 today.

As @RamblingMad said above, the differential is usually more than that, but I'll take 12 cents (plus the 4% bonus at the end of the year). Just cashed in my $600+ bonus coupon for a check and deposited it today!

 

[MillauFr]

I always think that about oil companies. They dig this stuff up, refine it, ship it, and only charge slightly more than a gallon of water for it. Kind of mind boggling.

Yep. Those billion dollar oil platforms, expensive ships, refining plants that cost a billion dollars each? I cant understand why gas is way cheaper than milk.

 

[JimMIA]

We get price spikes in California since we have a unique fuel requirement that can't be met by most fuel sent in from other states. One refinery going down for maintenance or after an accident can really affect things.

Right, CA is like another world on gas prices -- because of the requirements, and also because of the high gas taxes.

 

[MillauFr]

Interesting point. A few years back one of the gas station/convenience stores in our area stopped selling gas for a while because they said they were kidding money and couldn’t afford to do so. They hung signs up to explain. They did eventually start selling again but the gas wars with neighboring stations was something they could not sustain

Yep. Several gas stations in Seattle have closed. They figure they could make far more money selling the property to apartment developers than running a gas station.

 

[RangerPooh]

Pad $2.79/gal yesterday for regular in Memphis, TN.

 

[tink89]

$3.89 regular at chevron and 76 in the Bay Area

 

[JimMIA]

$3.89 regular at chevron and 76 in the Bay Area

Wow. So to fill up my tank (20 gal) in the Bay area would cost me $1.32 X 20 = $26.40 more than here in Miami!

For just one tank of gas!

 

[RamblingMad]

Wow. So to fill up my tank (20 gal) in the Bay area would cost me $1.32 X 20 = $26.40 more than here in Miami!

For just one tank of gas!

This is why you see so many Toyota Prius in CA.

 

[FlightlessDuck]

Ummm, I think it's in the 2.90's currently in Eastern Pennsylvania? Since the pandemic, we get gas maybe half as often so it's been a little while.