Fuel Shortage

luvrbus · November 12, 2021, 10:59:32 AM

Quote from: freds on November 12, 2021, 09:41:59 AM
Tax wise you definitely want to fill up in Arizona before crossing into California as it jumps thirty cents a gallon.

Were I live the fuel in Needles CA is $5.60 a gal in AZ fuel is bumping $3.80 a gal at the stations close to Needles but you can buy it for $3.10 at Bullhead City 15 miles N of the CA border

windtrader · November 12, 2021, 12:36:16 PM

That 30 cents just got tacked on the past two years or so. I'm seeing diesel bumping on 5 bucks a gallon. Premium is now over that line. I'm riding my Ebike everwhere now. lol

luvrbus · November 12, 2021, 01:43:10 PM

Oil has been on the downside for 3 weeks dropping a few a dollars a barrel and prices are getting higher at the pump. Hang on it will hit a $100.00 a barrel then you have $6.00 fuel for your summer travels.I feel for the people with a variable rate loan on a house they are getting ready for a hit the interest rate is going to go up and will for months trying to stop the runaway train named inflation

richard5933 · November 12, 2021, 01:50:49 PM

Interesting read...

Based on this chart, I seriously doubt we'll see average fuel prices anywhere near $6/gal. Probably we'll see high prices in select markets, but not as a national average.

chessie4905 · November 12, 2021, 03:09:53 PM

Finally got to try my Gas buddy card. Didn't show any discount at my usual fuel source. On gasoline. Got an invoice via email next morning. 28 cents per gallon off. Now to try on diesel for truck. Will report when I do it.

luvrbus · November 12, 2021, 03:34:52 PM

Richard that is 3 year average chart it is useless tracking oil prices ,a lot of us here were around 14 years ago when crude went from $46.00 to $145.00 a barrel, it was nothing to cost us a $1000 + buck to fill our buses.Now you have higher wages and more regulations to refine the oil,watch it the 1st bad cold snap that hits the east it will jump in price.I seldom buy oil,I did buy some future's when it was @$45.00 but I will buy units of diesel fuel it can move in a hurry both can be risky you win or you lose

luvrbus · November 12, 2021, 03:39:56 PM

Quote from: chessie4905 on November 12, 2021, 03:09:53 PM
Finally got to try my Gas buddy card. Didn't show any discount at my usual fuel source. On gasoline. Got an invoice via email next morning. 28 cents per gallon off. Now to try on diesel for truck. Will report when I do it.

Is that the Gas Buddy credit card John or another program ? I got $1.00 off at Smiths today 35 gals is all I could get so I left and went to my regular fuel stop it was $3.15 today it was 50 cents better than Smiths regular price

richard5933 · November 12, 2021, 05:31:09 PM

Unleaded dropped to $2.89 today. Used to be we were above the national average, but not now. Diesel at the retail local pumps is around $3.25

chessie4905 · November 12, 2021, 05:39:25 PM

that was the regular free Gas Buddy card. During setup, you link to a bank account number. Money is directly withdrawn at use. They also offer an extra cost card with a larger discount. Either one, there are some fuel quantity limits you should read so you understand it. I used it at our local Sheetz. With Sheetz credit card discount is 5 cents and loyalty and is 3 cents. Neither can be used along with a Gas Buddy card. Wish I had the card before our trip out west. Would have saved significant money, as fuel bill was little over 6000 dollars and 24k miles.

luvrbus · November 12, 2021, 05:50:41 PM

Quote from: richard5933 on November 12, 2021, 05:31:09 PM
Unleaded dropped to $2.89 today. Used to be we were above the national average, but not now. Diesel at the retail local pumps is around $3.25

Funny how the system works states with no reserves like WI and AZ fuel is cheaper than states with refineries and huge reserves,we have 5 refineries in AZ but all the oil come from Texas and New Mexico.We just hope the government doesn't shut the pipe lines down,one had a small leak in the desert and with the coverage you thought the world was ending

windtrader · November 12, 2021, 11:30:50 PM

Well, the entire issue hardly matters because everyone these days seems fine with paying hyper inflated prices on everything. Gas is just one thing that has jumped, we are all used to seeing this happen before. What seems different this time are prices on used cars selling for new prices, real estate prices shooting up, etc, etc, And of course, the stock market continues into uncharted territory. And bankrupt companies now being valued in the billions like GameStop and many more. To me this is more insane than the internet boom and bust as the insanity is so much more widespread. Makes me more concerned this time that it's going to crash harder as there is no room to cut rates or print more money.

The one indicator that I keep my ear to is what is known as "demand destruction". As long as people keep paying and buying it'll keep afloat but when people finally decide enough is enough,no longer able to afford to keeping buying, decide it's time to stop pulling out the credit cards, then it will crash hard.

windtrader · November 12, 2021, 11:31:55 PM

Quote from: windtrader on November 12, 2021, 11:30:50 PM
Well, the entire issue hardly matters because everyone these days seems fine with paying hyper inflated prices on everything. Gas is just one thing that has jumped, we are all used to seeing this happen before. What seems different this time are prices on used cars selling for new prices, real estate prices shooting up, etc, etc, And of course, the stock market continues into uncharted territory. And bankrupt companies now being valued in the billions like GameStop and many more. To me this is more insane than the internet boom and bust as the insanity is so much more widespread. Makes me more concerned this time that it's going to crash harder as there is no room to cut rates or print more money.

The one indicator that I keep my ear to is what is known as "demand destruction". As long as people keep paying and buying it'll keep afloat but when people finally decide enough is enough,no longer able to afford to keeping buying, decide it's time to stop pulling out the credit cards, then it will crash hard.

Smart money is already cashing out, Buffet has something like 150 billion in cash.

chessie4905 · November 13, 2021, 04:30:59 AM

yeah, I remember many years ago when the Fed jacked interest rates to end the inflation spiral. Mortgage rates over 12%. Course I was pretty young at the time. Thought rates would never drop to the numbers of last several years.

richard5933 · November 13, 2021, 04:38:08 AM

Quote from: chessie4905 on November 13, 2021, 04:30:59 AM
yeah, I remember many years ago when the Fed jacked interest rates to end the inflation spiral. Mortgage rates over 12%. Course I was pretty young at the time. Thought rates would never drop to the numbers of last several years.

Interest rates affect different people differently. I remember a day when you could get enough interest earnings on your savings to not have to take a chance with the stock market to keep up with inflation. The situation we have right now with banks getting money from the Feds for free is not helping the situation any more.

Last I looked, my money in the bank was earning 0.02 percent. That's 2/10's of 1 percent. In other words, nothing.

Millions of people used to rely on their interest earnings on their savings to take them through retirement. Now they have to put that money in the stock market and risk losing everything.

Sure, raising interest rates would calm an overheated real estate market too. But it would be at the cost of first time buyers struggling to get a mortgage. Home prices would drop though, so others would be helped.

The whole thing is given and take, but the economy overall likely needs them to go up from zero.

luvrbus · November 13, 2021, 06:39:42 AM

Interest rates have been low not for people but for our government borrowing,Your Social Security Trust is a joke the only thing it can invest in are the useless treasury bonds which will give a 1.4% return in 10 years.I miss the days when banks would sell a 1 year CD with a good return of 3 %.Like Don said it going to hit and is not far off the train is on the track wide open with no engineer.We are ok but the future generation is in deep $#!%.Our place in Scottsdale has doubled in value in 4 years so have the taxes if we sold it today we couldn't replace it for the same money in a week.Americans are in for a rough ride