Gas wars: A gallon is just 46 cents here
While gas prices are low nationwide, some stations are slashing the fuel's price to rock-bottom levels to the tune of less than 50 cents a gallon.
The drastic price cuts are part of a gas price war at three Houghton Lake, Mich., stations.
http://www.cnbc.com/2016/01/18/gas-wars-...-here.html
Damn, and I was happy that I paid $1.70 a gallon the other day...
I like cheap gas as much as the next guy but if we see under $1 gas prices the economy's in pretty big trouble.
Gas is still over $2 in New York.
Quote:Gas wars: A gallon is just 46 cents here
While gas prices are low nationwide, some stations are slashing the fuel's price to rock-bottom levels to the tune of less than 50 cents a gallon.
The drastic price cuts are part of a gas price war at three Houghton Lake, Mich., stations.
http://www.cnbc.com/2016/01/18/gas-wars-...-here.html
Truth is gas could be $0.99/gallon and the companies would still make a huge net profit but they are greedy & no govt oversight to stop them.
Should be treated the same as an electric company in my opinion (if you are going to regulate other businesses why not gas too)?
Quote:Truth is gas could be $0.99/gallon and the companies would still make a huge net profit but they are greedy & no govt oversight to stop them.
Should be treated the same as an electric company in my opinion (if you are going to regulate other businesses why not gas too)?
You have no idea how the oil industry works outside of Reddit comments sections, do you?
Unleaded & Diesel is £1 ($1.60) per litre over here..
I think it works out 3.2 UK litres to 1 US liquid gallon...
Which works out around $5 per gallon when converted..
Quote:Unleaded & Diesel is £1 ($1.60) per litre over here..
I think it works out 3.2 UK litres to 1 US liquid gallon...
Which works out around $5 per gallon when converted..
That pays for the 'free' health care, doesn't it?
Quote:That pays for the 'free' health care, doesn't it?
Haha something like that..
Although people abuse our 'free' healthcare. People call ambulances for things like stubbed toes and broken fingers..
Quote:Haha something like that..
Although people abuse our 'free' healthcare. People call ambulances for things like stubbed toes and broken fingers..
I like to refer to the picture of a Canadian billboard I saw for their health care system. It showed a doctor with quotation below which said, "The common cold lasts about a week. It lasts around 7 days if you see me."
It is possible to make a good thing too accessible.
Quote:I like to refer to the picture of a Canadian billboard I saw for their health care system. It showed a doctor with quotation below which said, "The common cold lasts about a week. It lasts around 7 days if you see me."
It is possible to make a good thing too accessible.
Indeed.
Also, you can't get an appointment with your GP/Doctor here within a week.. there's a joke by one of our comedians which goes along the lines of..
Patient phones Dr's surgery and asked for an appointment..
Receptionist replies: 'our next available appointment is in 9 days time'
Patient replies: 'I'll be better by then'
Receptionist: 'well why are you botherting us then?'
$1.49 here where I am. I drive a Silverado so I am perfectly happy with the prices. Especially considering when I first got it, it took 80 bucks to fill up. Now it's like 36.
Quote:You have no idea how the oil industry works outside of Reddit comments sections, do you?
Thank you. I signed in just to respond, but you answered more eloquently than I could have.
Oh, and for everyone who sees their local gas station with a much higher price than neighboring gas stations? Yeah, I can pretty much guarantee in every one of those cases they're just franchised gas stations (like well over 75% of them are) who are setting their own prices.
Oil companies don't tend to operate more than a handful of their own branded gas stations since there just isn't enough reason to. Much more of their capital has better returns developing new fields (well, not these days...) and the downstream (refineries, marketing, service stations) are almost just token ownership to keep market share and brand awareness going. There's at least one supermajor whose downstream& marketing operations are only 8% of total income--granted, that's not a great position to be in at the current market atmosphere.
Don't forget, we're in this situation because foreign interests are deciding to flood the market (as are we, to an extent, as we haven't stopped our shale production since they're all trying to keep market share as well).
It's going to be an interesting economy. There are going to be major layoffs this year.
Quote:Truth is gas could be $0.99/gallon and the companies would still make a huge net profit but they are greedy & no govt oversight to stop them.
Should be treated the same as an electric company in my opinion (if you are going to regulate other businesses why not gas too)?
You should google "profit margin", you might learn something about finance and economics.
Quote:$1.49 here where I am. I drive a Silverado so I am perfectly happy with the prices. Especially considering when I first got it, it took 80 bucks to fill up. Now it's like 36.
Yeah, I filled up in Orlando on Sunday and it was $1.61. I'm paying $35 a tank instead of $60 and it means more trips to Orlando!
Quote:Thank you. I signed in just to respond, but you answered more eloquently than I could have.
Oh, and for everyone who sees their local gas station with a much higher price than neighboring gas stations? Yeah, I can pretty much guarantee in every one of those cases they're just franchised gas stations (like well over 75% of them are) who are setting their own prices.
Oil companies don't tend to operate more than a handful of their own branded gas stations since there just isn't enough reason to. Much more of their capital has better returns developing new fields (well, not these days...) and the downstream (refineries, marketing, service stations) are almost just token ownership to keep market share and brand awareness going. There's at least one supermajor whose downstream& marketing operations are only 8% of total income--granted, that's not a great position to be in at the current market atmosphere.
Don't forget, we're in this situation because foreign interests are deciding to flood the market (as are we, to an extent, as we haven't stopped our shale production since they're all trying to keep market share as well).
It's going to be an interesting economy. There are going to be major layoffs this year.
Real estate is inflating again too. Won't be long before we have another round of walk aways.
Quote:Real estate is inflating again too. Won't be long before we have another round of walk aways.
Just in time for the election, a new President and a new round of bailouts!
Quote:Just in time for the election, a new President and a new round of bailouts!
I'm going to the other side this time.
I want my free [BLEEP] too.
I love how people think the lower gas prices are because of Obama.