Good news on a couple news sites, gas prices may fall 50, what could be any better?? That was before the venzula news this A M but still think it will fall. Hope before summer driving season for everyone!! Then the gouging bastads can choke on it !!

I heard a different report that said gas prices would rise for the summer, as usual. But not as high as last year. They really aren't bad where they are now.

The good news is that a gallon of gas cost $.36 in 1970 when the minimum wage was about $1.60 and now at $2.39 it isn't far off pace of minimum wage for 2017. The only real difference is, you can't find anyone to work for minimum wage today, you need to bump it about $2.50/hour to even get anyone to look.

Look for higher permanent state taxes on fuel. TN just tacked on .06 on gas and .10 on diesel.

At 2.35 a gallon I dont know how anyone can say they are gouging. Gas right now is very underpriced. It is truly a deal. I can run 32 mi. on a .235 gallon of gas. Cheap. I can run my 25 horse outboard all day on 5 bucks. What more could someone want. It is dirty , dangerous, and most likely hazardous to you health. Then get it out of the ground, pipe it through protesting morons, refine , transport , store and sell it retail at a gas station 24/7 for $2.35 a gallon some complain it is too high? I wish it would go to 4 bucks a gallon so I could sell some of my oil stocks. If I keep guying what is cheap, the only thing I will have is oil in my portfolio. Also, there is not a glut in Asia or Europe, they use 75 % ? of the worlds oil. USA hs a glut so we think the whole world has a glut. Not so, and when stupid investors figure it out we won't see the selloffs on oil every time some dingbat on CNN sais we have a glut.

Yep....big oil ain't near as greedy as the gubment.

Not for the lack of trying though.

Lucky you! My 225 HP 2-cycle on a 22' Glass boat gets 2 mpg when the ocean is flat calm. The price I pay-to-play. If it stays at $3.00/gal up here I'll be happy.

If I had a boat like that Muskwgman, I would be happy to pay 3 bucks a gallon, lucky you !! And good for you !

Always higher by Memorial Day.

When I borrowed my late dad's Buick to ride around at night I said "Give me two dollars worth." and at $0.179 it would fill the tank and they cleaned the windshield!

Yes, there were a helluva lot of things we used to be able to do that we cant any more.

mohick, can you list maybe two things common to all men that make you happy in your life. I'd love to see the list.

Being an angry, unintelligible prick and smoking the crack pipe.

EDIT: Oh, you said COMMON TO ALL MEN. My bad.

Gas prices went from $2.36 o $2.44 in the last couple days.
Guess the oil companies checked their bank statements and decided they were not making enough!

If oil is $50.00 a barrel-- why in hell are we paying $2.44 per gallon???

The answer is simple--- price gouging!

Guns, powder, and reloading supplies are down big time too.

LOL..!! Another highly educated expert who has a full grasp of the oil business.

Yeah no gouging?? The bastads admitted that it only costs them 15 $ a barrel to get it out of the ground thats a he!! of a lot of profit even at 50$ bl let alone when it was 100$ companies profits in the billions well screw em let the little guy have a chance for once!!!!!!!!! and thanks TBREW401 glad to see someone else here has some sense!!!

The government makes more off a gallon of motor fuel than the oil companies.

That's where your gouging is at.

Mike

Yeah, we need the government to take over the oil business.

They already make more on fuel taxes than the oil companies do in profits.

If you want an example of state owned oil, drive down to Mexico and fill up. You might be surprised.

Mo... Whoever told you that it only costs $15 a barrel to produce oil, lied to you.

It varies by area and structure, but I'm not aware of any that are that low cost. Not even close.

These threads are always comical.

Trying to educate modick about reality is like trying to push a log chain up a hill. It ain't gonna' happen.

Gas went from $2.00 ish to $2.25 here in the last few weeks. Relatively speaking it is cheaper than at any time in my life. When I started driving in 1974 it was 40-45 cents/gal, but the median income was about $10,000 per year. Median income today is closer to $56,000/year.

We're paying about 4X as much, but earning almost 6X as much. The average car is also going almost twice as far on a gallon of fuel. My 1969 Firebird was in single digit fuel mileage in the city, less than 13 mpg hwy. Very few cars would break 20mpg hwy back in the 1970's.

We're all spending a far lower percentage of our incomes on fuel than at any time since the 1970's. We are probably at historical lows all things considered even if it hits $2.50/gal.

I am not an expert on oil, but when the price of a barrel of oil is $50 or less, there is no reason for gas to be what it is.
Maybe you can educate me-- maybe not--

Drilling and exploration. $5m per well for drilling. Cost of the oil lease... Down here, $25k-$40k PER ACRE on the lease.

Pipelines. Refining. Transportation. Distributor profits. Gas pump profits.

Then taxes.

Here the tax is about .43 per gallon of gas. Without that tax, the price would be about a $1.80 a gallon, or less.

At $50 per barrel, there is production here, but the break even costs for drilling and exploration on new wells is over $70 per barrel. So, they pump what's drilled, but don't drill any more than they have to to legally hold drilling leases.

Turbocharged and supercharged engines mostly require 92 octane or better. Local Super premium 93 octane is $3.15/gal. Take a trip to Costco and super will cost you $2.65/gal. I'm sure Costco is not selling at a loss, so what does that say about the locals who charge $3.15?

It shows. Tying to educate you would be kin to training modick. Are you an unhappy soul, too?

It says that their gasoline probably has an additive package that exceeds minimum EPA requirements and is better for your engine. I drive a car that requires 93 octane gas and I'd only fill up at a Costco or other vendor with price leader gasoline containing minimum mandated generic clean burning additives if I had to due to lack of choices.

Did you know that a typical branded retail gas station makes most of it's profit from selling food and other similar stuff?

Have they ever said what size the "barrel" is?

And another thing, why don't stations sell gas by a whole dollar amount?

When folks don't have a clue, they don't have a clue..

BTW just saw a lease for 1000 an acre.... And I know folks that years ago got 1500 plus an acre for a few years, and the companies never drilled.. that was exploration cost so to speak, when you lease hundreds of thousands of acres at 1500 plus an acre and never even punch a hole....

Well lets see its probably not possible to educate some folks.

You know someone is greasing your backside when one station is 1.99 and the SOB right across the street is 2.09 or more, the guy at 1.99 isnt losing money so you know the guy at 2.09 is greasing your butt.

it wasn't gossip about 15$ it was public news, if you would read anything but what you see on here

Pretty easy.

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Maryland between Federal and State taxes is 45.53 cents per gallon. With gas at $2.29 a gallon right now that's $1.83 gallon so very close to your estimate.

Now, keep in mind that this is at the pump that you and I pay. This product is taxed at every step of it's production and distribution. It's frankly shocking they can sell it and make a profit at these rates. Of course, I still reserve to the right to complain if it goes up.

They need to keep oil prices high so that my pension, stock plan and health care will remain well funded.

If you were in an area that has production like some of us are, you'd have a clue that 15, even if in the news, is a damn lie.

And RE one stations price compared to the others..... most folks that sell gas now, are NOT related to the production/refinery companies, so you can bitch to others rather than who you are screaming at...

Of course never mind the fact that one fuel store may give you more mileage than the other.... like buying fuel with and without ethanol.

That might be over your head though as you have to know how many gallons of fuel you burn for how many miles and then do some ciphering.....

I want it to be so cheap the ethanol goes away totally, but it never will to many cock$%^ker senators from corn states

I want it to be so cheap the ethanol goes away totally, but it never will to many cock$%^ker senators from corn states

What I said about production costs sure didn't come from here.

It comes from meetings with oil producers.

How about you show us where your $15 a barrel price comes from?

Hell, even a link to an idiot site would work, if that's what your quoting...

Otherwise it's just a number you plucked out of your ass.

High gas prices are good for the economy, and force consumers to be more aware of driving habits and waste...take it up to $4 a gallon

So, you are getting 128 miles on 1.4 gallon?

How so?

Yeah, well speak for yourself. Gas is running 2.49 a gallon around here and median incomes in the mid 30k's range.

Wall street journal list Kuwait 8.50 saudi 9.90 iraq 10.70 united arab emerants 12.30 look it up unless you are afraid to It's greedy S O B's like ED m and his ilk that want all the profit

I think you should insist on buying foreign oil only, then.

See how that works for you, since you love those Arabs so much.

A barrel of crude oil is 42 US Gallons. About half to 2/3 of that barrel can be made into gasoline. The rest is too heavy. It is made into diesel, fuel oil, or asphalt And that is after it goes through the cat cracker at the refinery. The states and the feds put 30 to 40 cents of tax on it. All that is left is pennies each for delivery to a refiner. refining, Transportation, Marketing, Retailing.
And the investment is millions and billions for the equipment. The delivery system pretty much everywhere is nothing short of amazing. To think at 50 dollar a barrel oil and you are buying finished gasoline tor 2 dollars is rip off. You cant add or are just a whiner. The government is making more than everyone else combined.

We have the highest tax rate on gas in the country, 58 cents a gallon...they just stuck us with an 8 cent increase.

Hogwild is spot on! The Federal gas tax is 18.4 cents per gallon and 24.4 cents for diesel. Exxon typically clears < 9% profit on its billions of dollars of investments.
The Feds and States make 100% profit without owning equipment, refineries, employees and leases.
I look for gas to slowly rise in the near term up to Memorial Day. Refineries are doing maintenance as they convert over to the more expensive "summer blend".
Gas companies need to have converted over the entire supply of gas by June 1.
Summer blend has more oxygenates to cut down on smog and air pollution - in theory. Butane is used less in the summer and it is less expensive than the alternatives. The Reid Vapor Pressure (RVP) must be lower than 14.7psi - atmospheric pressure or the gas will cook off in your tank. EPA regs want it below 9psi in the summer...........enough already.

You are 100% correct! So don't buy any ---------fool.

The price of cotton is about 80 cents/pound.

It takes what about 1/4 lb of cotton to make a T shirt ?

I'm mad as fug that I can't buy a T shirt for 20 cents.

Damn price gouging T shirt making bastards


Mike

I didn't give a $hit where it come from when I was feeding my family and trying to make a decent living without spendin the whole paycheck on greedy bastad gas

I think everyday people in different parts of the world start using things that use energy. Basically demand grows every day. Simple supply and demand. Prices will rise. Hasbeen

EPA who is that ?...they're being killed off like whales in Japan

modick, you are an incredible person, but not in a good way. You sound like you're eternally stuck in bitch about life mode.

There are 42 gallons in a barrel of oil.
That said they do not get 48 gallons of gas out of the barrel.

They crack it down and come up with various compounds,gas just being one.

Uhhhh. There are 42 US gallons at 60 degrees F and 0 PSIG pressure with zero impurities (sediment and water) in a merchantable barrel of crude oil.

As I wrote, comical.

Some answers are comical and some aren't.

https://www.ihrdc.com/els/po-demo/module01/mod_001_03.htm

I can hardly wait to go back and read another price of gas thread. These are the best.

I retired from Royal Dutch Shell two years ago knumbnuts. I know oil, gas and refining. You?

Yes, thankfully so. We'll see if Trump rolls back any of the summer vs. winter blend
formulation. Its great to see the EPA being cut back from their unilateral ability to make regulatory law.

Pennsylvania raised taxes on gas three times over the last couple of years. We now have the highest gas tax in the nation. [sarcasm]The upside is that our roads are the best in the nation. [/sarcasm]

I was in Ohio a couple of weeks ago and saw prices ranging from $1.99 to $2.06. When I got back to Pennsylvania it was $2.59 everywhere. It's not $2.75. Yes, the government is greedy. Supremely greedy. Do you think they'll use the tax windfall to improve roads? It will go for everything but.

Steve.

Shame you don't know your boys as well. Letting them be raised by a woman. At least you retired JUST in time for the last kid to leave the house. Funny that.

I spend more time with my kids in a year while working a 2x2 rotation, than the average father that works 8-5.

Funny that.

You sure they are all yours? Funny that...

Crap! I'm impressed. I didn't know you were a genious. I just thought you were a comedic critic.

So tell me what's wrong with my definition of a barrel of crude oil, oh Sage of the oil business. Or did your vast experience and limited potential never allow you to actually know what a barrel of merchantable crude oil actually was?

What branch of Royal Dutch was honored to have you running it? I'm betting that it wasn't a very technical part of the company. I'm also betting that you knew enough to run General Engineering the day they hired you into a maintenance crew with your vast oil and gas knowledge gained from your 2 previous years of driving a salt water disposal truck on dusty roads.

"Then the gouging bastads can choke on it !!"

You must be referring to the ones that manipulate the stock market price of gasoline.

Goes all the way to the idiots that think they can explore and compete in the market, with the sludge they dredge up, when foreign oil almost runs pure out of the ground. the defination of insanity is doing the same thing over and over, guess they like pi$$ing money down a rat hole and keep crying over it!!

Just buy the crude and try that in your engine if you think there's too much 'value-added' in squeezing out the gasoline.

yes, you can try "cooking it" yourself, if you feel adventurous

Let's see......

A barrel of oil...42 gallons, is valued at $50 and gasoline is $2.49/gallon.

A bushel of corn... 56 pounds, is valued at $3.63 and corn flakes - the cheap store brand, is $2.49/18 ounces.

Analysis: Farmers are obviously ripping us off big time (and this doesn't even get into the "huge" profits being made by the big [Post/Kellog's] cereal companies, since their brands are much higher)

Some fairly recent reality about crude oil and gasoline.

https://www.eia.gov/tools/faqs/faq.php?id=327&t=9

Ok. Going by that formula...based on crude at $50 per barrel.



19 gallons of gasoline at pump. Minus taxes, is around $1.80 = $36.70 plus 12 gallons of diesel @ around $1.90 before taxes = $22.80 which brings the total to $59.50

Total gross profit = $9.50 per barrel.

Then subtract from that gross profit the lease, pipelines, refinery construction, labor for all of it, transportation, operating expenses (equipment and such), and the drilling bill, cost of the retail outlets...etc.

Yeah, makin' a killin' I tell ya...

Ruh ro!! Don't let modick see that. He believes that oil companies shouldn't make a profit. He's obviously not into free love and world peace with his attitude, but I bet he believes that free gas is a God given right.

modick has to be one of the most ignorant sons of bitches i've seen post on his site.

Hey, there's places he could live where there aren't greedy companies ripping off poor helpless consumers like him. Cuba and North Korea come to mind.

This is mohick,remember him?

32 miles on $2.35 Sorry decimal in the wrong place. Still a deal.

Hey look!!! It's an old family reunion.

Nice to see you, BB.

Fuel taxes should really be on a percentage basis, as opposed to a per gallon basis. BUT- all directed to road maintenance - unlike New Mexico's seizure of oil taxes to balance the general budget!

Thank you democrats!

A 42 gallon barrel of oil produces 45 gallons of usable resources, including jet fuel and materials used in creating plastics and other petroleum based products.

moprick's still an @sshole, but don't bullshit everybody bout the economics.

Where'd you get 45 gallons of product?



The economics presented isn't complete by any means. Probably after boiled down, the profit is much less per barrel.

But, just like a loaf of bread that makes a nickle of profit per loaf, the way they make money is to sell LOTS of loafs.

Oil needs to stay above 50.00 a barrel. 55.00 to 60.00 would be better for jobs.

some jobs yes , some jobs no