How much is gas where you're at?

[Pelado]

https://www.cnn.com/2022/05/17/energ...ces/index.html

Having less poor people jamming up the roads is going to be great.

"Less poor people" meaning those who are slightly above the poverty line? Why do you prefer them jamming up the roads?

[Moliere]

It’s getting pretty bad. It’s going to take a recession to reset it all, which is unfortunate. It feels like 2008, when oil prices hit $150ish and natural gas hit over $10. Hopefully this time there isn’t a housing crisis that follows (there won’t be).

Oil companies are maxed out. They would drill more if they could. I was at lunch’s it’s a good friend who works at a small O&G company (private) and they are distributing cash to their investors at record levels. They operate one rig and would pick up a second if they could but it’s not practical and their investors don’t want them to.

Between supply chain delays (drill pipe is about two month lead time) and investors wanting higher dividends and the lack of institutional investors for O&G expansion it’ll take demand destruction to fix it. That means a recession. Let’s just hope inflation cools down at the same time or it’ll get ugly.

[Uncle Ted]

California's $6 gas could spread nationwide, JPMorgan warns

The average price for gasoline in California hit $6 a gallon Tuesday for the first time -- and analysts at JPMorgan are warning that price could be the national average before the end of the summer.

The startling forecast comes as US gas prices have surged to record highs in the aftermath of Russia's invasion of Ukraine, casting a shadow over the economy.

"There is a real risk the price could reach $6+ a gallon by August," Natasha Kaneva, head of global oil and commodities research at JPMorgan, told CNN in an email on Tuesday.
[...]

https://www.cnn.com/2022/05/17/energ...ces/index.html

Having less poor people jamming up the roads is going to be great.

[Commando]

I had to go to Tucson yesterday and gas is a full .50 cheaper than in phoenix.

[Uncle Ted]

Diesel is over $5 in frick'n Texas... $3.87 for regular.

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[clackamascoug]

Costco - $4.59

[Pelado]

Just filled up today but don't remember if it was 4.39 or 4.79 per gallon.

[Joe Public]

that is not increasing this year for some reason, almost like it is an election year...

Hah, I didn't know that.

[LiveCoug]

We were dropping for a while. Made it down to around 3.40 a couple weeks ago. Now we are about to eclipse 4.

[BigPiney]

I think it's over $1 in taxes and fees. Part of that is a state tax that has built-in increases based on California consumer inflation. That will reset in July.

that is not increasing this year for some reason, almost like it is an election year...

[Joe Public]

Wow. How much of that is taxes?

We're headed to London soon, and have a rental car for a few days. Waiting to see what the cost of gas is there. I'll try to remember to give an update.

I think it's over $1 in taxes and fees. Part of that is a state tax that has built-in increases based on California consumer inflation. That will reset in July.

[Bo Diddley]

We're working our way toward $7/gallon here.

Wow. How much of that is taxes?

We're headed to London soon, and have a rental car for a few days. Waiting to see what the cost of gas is there. I'll try to remember to give an update.

[Joe Public]

We're working our way toward $7/gallon here.

[Soccermom]

Just paid $5.99 in Livermore for 87. 89 and up were well over $6/gallon.

[Pelado]

$4.29 at the Costco in Meridian. $4.39 at the closest Maverick.