Gasoline Prices

[Frogdog1]

Cool! Interesting career for sure! So, I've seen things showing a drastic reduction in the amount of investment $$ being allocated to petroleum by investors. Is that something you've see as well, or is it slanted BS of some kind?

I honestly don't follow what investors are doing in the industry as of late. I suspect they aren't doing much compared to past times, all things considered, because drilling is not very high which tells me supply is aplently. As well, cities that once thrived because of local drilling activity are not thriving because of it today.

Also, and very significantly, more is being produced per well compared to past times. That's a whole different topic. Oil prices have seen a slow decline for some time now so there must be plenty of it. Also, OPEC is a significant force but they aren't in the position to dictate oil prices any longer. It's available elsewhere, like in the U.S. Reserves and production has increased over time compared to past years due to technology mainly.

Anyway, my original question only had to do with my curiosity in what others were paying for retail gasoline. I think we know.

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[LouG]

I pay 2.20 Euro's a Liter.

That's 9.69 USD a gallon.

Ans you guys in the US earn twice as much a month average than us lol.

Wow. I was paying around 1.89 for premium in Italy last year is it that high throughout the EU?

 

[GrabThatBlue]

Wow. I was paying around 1.89 for premium in Italy last year is it that high throughout the EU?

That's average. There is a big difference in each country in Europe.

 

[Zig]

Gas, diesel

will try to grab a snap of the others, including the used vs the passed next time out and about but anyway the price is the point.

 

[Bikeman315]

We’ve been pretty steady here on the Grand Stand. Costco consistently has the lowest pricing.

 

[2024-GT-Vapor Blue]

Has anyone seen gasoline prices go down in their area since January?

I have, but only a tiny bit. Yesterday, I paid $3.42 for Top Tier premium which is at my normal place to fill up my personal cars.

I am a little disappointed in this. I remember when I paid $1.87 for regular beginning shortly after 2016 rolled around when drilling took a leap.

I just checked the "Baker Hughes" U.S. rig count (actively drilling rigs) and it is only 539 rigs in the upper 48 as of today. That has been the most used indicator of drilling activity taking place in the U.S. or not taking place. For reference, I was over the operations of a large oil and gas drilling contractor at a young age, in the early 1980's when the rig count briefly hit 4,400 actively drilling rigs. I had a feeling, based on gasoline prices, that "Drill Baby Drill" wasn't taking place and it isn't. Yes, active rigs drilling at one time was in the thousands in the upper 48.

So, one question is why isn't drilling going on (and why are prices not down-er)? My family, one way or another, since I was born has been fed by the upstream oil and gas industry. Simply put, it is a number of things like, supply and demand, availability of the right quality of crude for American refining, and countless other things. My feelings are that demand is up, as it usually is this time of year, and summer gas costs more than winter gas. From there, it gets very complicated.

Main question: have your gasoline prices gone down and what are you paying at the pump? Keep politics out of this, please, because that isn't affecting prices right now.

In metro Detroit, premium 93 octane is running anywhere from $4.09 to $4.79 per gallon, while regular 87 is about a dollar less. Honestly, I don’t even care. I love driving my Mustang, and no amount of fuel savings could convince me to swap it for a bland crossover.

 

[2024-GT-Vapor Blue]

We’ve been pretty steady here on the Grand Stand. Costco consistently has the lowest pricing.

Nice!

 

[Farmer Fran]

I have no idea how much premium is around me. Both my vehicles run on it so it doesn't matter.

Edit, gas buddy says $3.49

 

[robvas]

I don't really count Costco or Sam's club gas stations. They are easily 20-30 cents lower than regular stations. Same as counting Kroger gas with your fuel points.

 

[Sinthor 5.56]

I don't really count Costco or Sam's club gas stations. They are easily 20-30 cents lower than regular stations. Same as counting Kroger gas with your fuel points.

I'm just curious about the QUALITY of Costco gas. Any ideas on what brand they are repackaging as "Costco?"

 

[Bikeman315]

I'm just curious about the QUALITY of Costco gas. Any ideas on what brand they are repackaging as "Costco?"

All I know is that it Top Tier rated. They also go through loads daily so no chance of “old” gas or water in their tanks. I’ve used for eight years and never once had an issue. Shell is my number two if there is no Costco around.

 

[robvas]

I'm just curious about the QUALITY of Costco gas. Any ideas on what brand they are repackaging as "Costco?"

I put it in my jeep but I haven't tried it in the Mustang. It's "top tier" but that's just detergent additive package, it has nothing to do with octane. I'd want to put a tank in and drive around and watch for knock.

 

[Sinthor 5.56]

All I know is that it Top Tier rated. They also go through loads daily so no chance of “old” gas or water in their tanks. I’ve used for eight years and never once had an issue. Shell is my number two if there is no Costco around.

Good to know. Thanks!

 

[Frogdog1]

I'm just curious about the QUALITY of Costco gas. Any ideas on what brand they are repackaging as "Costco?"

Costo is Top Tier gas meaning they meet Top Tier requirements for detergent additives which is considerably more than non-Top Tier gas. Gasoline comes from a local distributor who is charged with putting the proper additives in the gasoline they sell. Octane ratings on the pump are what it is. I would use Costco gas if I were a member.

 

[robvas]

Costo is Top Tier gas meaning they meet Top Tier requirements for detergent additives which is considerably more than non-Top Tier gas. Gasoline comes from a local distributor who is charged with putting the proper additives in the gasoline they sell. Octane ratings on the pump are what it is. I would use Costco gas if I were a member.

A gas station (such as BP) can still add additives to their gas that meet or exceed "Top Tier" gas standards, they just don't want to pay the money for the stickers to put on their pumps

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