General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsToday was quite the doozy for gas prices.
I use Gas Buddy to find the cheapest gas prices near me. This is the first day it hasn't been able to keep up
At 10:30, BJs and Costco were both reported to be $4.05. We went to Costco, pulled up to the pump and it was $4.15. we could see the BJs sign and it was still $4.05, so we drove over and filled my spouse's card for $4.05, went into BJs and it was $4.15 when we came out less than a half hour later. I reported both changes to Gas Buddy.
Unfortunately, my car also needed a fill-up, but I was headed in the opposite direction. But since I could see several stations near where I was headed that were supposedly $4.25, I decided it wasn't worth the trip back for the $1 I would save on a tank. Then one after another, prices that had been reported within the last two hours jumped from $4.25-$4.29 to $4.99 by the time I got to them.
On the 4th station, I found one that had not yet jumped, directly across the street from one that had jumped $.70.
And by close of business, both BJs and Costco had gone up a second time in a single day ($4.05 to $4.15 to $4.25)
Just for grins, I decided to check and report prices on the 7 stations I passed on the way home. Four of them had jumped $.50 to $.70 from the price reported earlier in the day.
My last fill-up, just after the "cease fire," minutes before it became clear it was just bluster, was $3.49/gallon.
Wonder how many times he can make prices drop by declaring a win, then make them pop right back up by saying, "fooled ya!" before the market catches on.
GenThePerservering
(3,628 posts)Running around to all of these gas stations.
I've watched it jump 25-50 cents over the course of a few hours, even though it's the SAME tanker truck that filled it up this morning. Screw that, I just fill it up and walk more/drive less - not a penny more to these vultures.
Ms. Toad
(38,791 posts)The closest bus stop used to be 1/4 mile away. Then it moved to about 2 miles away. I think the closest one now is about 8 miles away. The closest shopping area (other than a convenience store) is 3-4 mile away - and that's a Dollar General. To get to an actual grocery store it's about 6 miles.
I did go out of my way (1.3 miles) to get the gas today - but I don't normally. With my car, that's about 9-10 cents of gas (I get around 50 mpg). But all of the other stations where I watched the prices change today were directly on the route I was already driving. I went out of my way today based on a price report within the prior hour (coupled with a completely empty tank and every other price being about $.75 higher per gallon). But my spouse (with worse gas mileage than I get) routinely drives 24 miles (round trip) to buy gas at a station which is typically lower than the others. Sometimes the cost saved is more than the price of driving that far. Other times it isn't. Sometimes she combines it with a shopping trip. Other times it is just a gas run.
What I often do when prices are really volatile is to do some version of cost averaging - putting in $5-10 worth when the price is relatively high, then fill up completely when prices are lower.
nilram
(3,562 posts)Probably helps with everyone's economy and their usage when price hunting.
Inkey
(539 posts)and saw this happening also. Luckily still at a half tank . What happens next - we shall see ...
RockRaven
(19,698 posts)
Ms. Toad
(38,791 posts)I guess those million-dollar donations to His Arrogance by the Oiligarchs were worth it.
Retail Governance writ large.
nilram
(3,562 posts)But, just topped up at 5.29. Those 8-ish gallons were close to $49 and change. Maybe I should use GasBuddy but I also get 5% back when using my costco card for gas. And it's close.
Ms. Toad
(38,791 posts)nilram
(3,562 posts)BidenRocks
(3,461 posts)Van Nuys. That was still better than Costco or the Upside app.
3.99 before Iran.
The average is $6+ around LA.
EuterpeThelo
(429 posts)I'm even seeing several stations up over $7/gallon.
Rhiannon12866
(258,152 posts)I'm not insane enough to think I'll win anything competing with everyone from the U.S. and Canada, but I look at it as a public service, posting the gas prices of the stations I pass in my travels and it helps me keep track, too.
Strelnikov_
(8,190 posts)The world has been drawing down petroleum (and other) reserves.
The market, in its infinite wisdom, has been ignoring the fact that there is no path forward at this point for opening the gulf.
Once the reserves hit a critical level, prices will have to rise high enough to create demand destruction.
Have seen estimates, by economists, of $350/bbl (worst case elasticity scenario).
20% of the worlds petroleum. Not to mention all the other product from the region (LNG, fertilizer, helium?!). Not to mention that the nations that will be most impacted (most dependent on gulf exports) produce critical components for the world economy (Korea, Indonesia, Taiwan, Thailand . . think IT related components are high now?).
As posted above, you aint seen nothin yet.
This period reminds me of the movie (and book) On the Beach. Its coming.
pimpbot
(1,179 posts)Both cars were under 1/8 tank. One is a rental because a lady crashed into my EV and its been in the shop for 5 weeks. Of course its impossible to rent an EV.
Anyways, filled the first car up at 8am at costco. $3.99. Came back with the second car at 10:30, $4.09. Luckily the costco is only 3 miles from my house, regular stations in the area are between $4.30 and $4.50. I'm sure costco will be going up today again.
Supposedly my EV will be ready in a week. Can't wait to ditch the rental.
Prairie Gates
(8,438 posts)Put most stations at over $5.00 a gallon.
Renew Deal
(85,316 posts)It seems to be at least $4.10 everywhere. It wasnt long ago when it was $2.65.
Ms. Toad
(38,791 posts)But nearly everything else is $4.99. I've also never seen such uniformity.
A HERETIC I AM
(24,892 posts)The money that the gas station gets from its customers is used to buy the next tanker full, not the last.
So they have to charge what they anticipate the next tanker truck full of fuel will cost them to be delivered.
A gas station raises its prices according to future cost, not past cost. Its the only way to run that kind ofbusiness.
Ms. Toad
(38,791 posts)Coming so quickly that Gas Buddy can't keep up. I've never found a single incorrect priced before - let alone more than half of the ones I checked, and including the two stores I specifically checked changing priced twice in a 10 hour period.
Johnny2X2X
(24,390 posts)Paid $3.99 in the morning, was $4.99 everywhere after work. People are freaking out, and it's good to see everyone knows who to blame.
Raftergirl
(1,862 posts)my new car (hybrid SUV) over a month ago. Ive only driven 162 miles since getting new car. I average around 40mpg. Got the same car I had so this one is the same irt mpg.
Prices here were around $4.60 (NYS) yesterday. They were $4.09 at the beginning of the week.
Ill be interested to see what they are today.