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Old 10-24-2008, 06:17 PM
 
Location: Chicago
38,690 posts, read 89,178,626 times
Reputation: 29451

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Quote:
Originally Posted by eagle7 View Post
A barrel of oil today is $85.00 yet we are still paying over $3.00 a gal ( $3.38 in so.ca/inland).WHY isnt it in the 2 dollars or plus range where it should be ? It seems we are still being ripped off & our lousey govt/politicians wont do a damn thing about it.Am i the only one sick & tired of their total BS ?
Because they're taxing the holy hell out of gasoline in California, that's why. If you California folks ever want an idea of how badly you're getting hosed, all you need to do is check out this color-coded county-by-county gas prices map. Notice how California glows red while the rest of the country is anywhere from light orange to pretty shades of green. That's not the oil companies' fault, that's your legislature's fault.

I thought gas should be cheaper than it is too, but then I took a look at where gas prices were the last time oil was as cheap as it is today (as of this writing, about $67/bbl.) And it turns out that on average we're only paying 5 cents a gallon more now than the last time oil was this cheap. Attribute the 5-cent difference to the slight time delay between falling oil prices and falling gasoline prices. Give it another week and that 5-cent difference will probably be gone too.
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Old 10-24-2008, 06:22 PM
 
Location: Chicago
38,690 posts, read 89,178,626 times
Reputation: 29451
Quote:
Originally Posted by pinetar10 View Post
when oil prices go up, gas prices immediately go up. when oil prices go down, gas prices slowly go down.
Gas prices have fallen nearly a buck gallon in the last four weeks. How much faster do you want them to fall?
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Old 10-24-2008, 08:59 PM
 
Location: Chicago
3,340 posts, read 8,703,819 times
Reputation: 1215
Quote:
Originally Posted by Drover View Post
Because they're taxing the holy hell out of gasoline in California, that's why. If you California folks ever want an idea of how badly you're getting hosed, all you need to do is check out this color-coded county-by-county gas prices map. Notice how California glows red while the rest of the country is anywhere from light orange to pretty shades of green. That's not the oil companies' fault, that's your legislature's fault.

I thought gas should be cheaper than it is too, but then I took a look at where gas prices were the last time oil was as cheap as it is today (as of this writing, about $67/bbl.) And it turns out that on average we're only paying 5 cents a gallon more now than the last time oil was this cheap. Attribute the 5-cent difference to the slight time delay between falling oil prices and falling gasoline prices. Give it another week and that 5-cent difference will probably be gone too.
Here in Omaha, I can get gas for 2.29. Also about your map, notice how all of the colors are nearly uniformal per state and the Western Midwest/ South east is all nearly the same.
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Old 10-25-2008, 09:28 AM
 
Location: Cold Frozen North
1,928 posts, read 4,631,028 times
Reputation: 1274
With the way prices are falling so fast, I'm reluctant to fillup my car. It'll always be cheaper tomorrow.

I'll bet a lot of states hate seeing gas drop like this. Sales tax on gasoline is keyed to the price. In Illinois where I live, they must be losing millions of dollars because of this. Next they'll want to raise taxes to compensate for lower gas prices; but of course they will never lower them if prices of gas go back up.

Ya, it's really amazing looking at that map what California looks like.
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Old 10-25-2008, 01:32 PM
 
Location: Chicago
38,690 posts, read 89,178,626 times
Reputation: 29451
Quote:
Originally Posted by HighPlainsDrifter73 View Post
With the way prices are falling so fast, I'm reluctant to fillup my car. It'll always be cheaper tomorrow.

I'll bet a lot of states hate seeing gas drop like this. Sales tax on gasoline is keyed to the price. In Illinois where I live, they must be losing millions of dollars because of this. Next they'll want to raise taxes to compensate for lower gas prices; but of course they will never lower them if prices of gas go back up.

Ya, it's really amazing looking at that map what California looks like.
When prices are moving quickly, in the end it makes virtually no difference if you fill up the tank or just get a few bucks at a time. Let's say you fill up 1/4 tank at a time while gas prices fall at a constant rate. You fill up 1/4th of your tank at $3.50 a gallon, then at $3.40 a gallon, then at $3.30 a gallon, then at $3.20 a gallon, then at $3.10 a gallon, then at $3.00 a gallon, then at $2.90 a gallon, then at $2.80 a gallon. Over that period, your average cost for 2 tanks of gas would be $3.15/gallon.

Now, suppose you filled up your tank all the way instead. The first time you fill up it would be $3.50/gallon. The second time you fill up it would be $3.10/gallon. Your average price over those two tanks is $3.30 a gallon. So if you have a 15-gallon tank, you'll have saved yourself all of $3 in purchasing $95 worth of gas by the "every 1/4-tank" method, or less than 3%. I don't know about you, but I'll gladly pay the extra $3 to save the inconvenience of an extra 6 trips to the gas station.

Second, your analysis of gas taxes is off. In addition to the 6% sales tax, Illinois (like every other state) also taxes gasoline by the gallon. That tax is 58 cents per gallon -- which, right now, constitutes about 20% of the price of gas. (It's also the 4th-highest in the nation -- thanks Springfield! ) They make a lot more revenue on the per-gallon tax than on the sales tax. When gas prices go up, consumption goes down, and they take in less on the per-gallon tax; and the sales tax is not nearly enough to make up the difference. So the state does not necessarily want high gas prices.

Last edited by Drover; 10-25-2008 at 01:40 PM..
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Old 11-27-2011, 06:07 PM
 
1 posts, read 457 times
Reputation: 10
It is because the Fed has been printing currency (NOT money!) we are awash with currency...
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