oil price.

[JSeery]

V8 there may be a lot of reasons, one is the state and local taxes added onto the fuel price. Another is different blends. Each state and even regions within a state, require different fuel blends.

[Kube]

.99¢ to $1.09 (US dollars) per gallon around here.

[fordwife]

Here in WA state many stores post the cash price and then charge about .10c more if you use a card. Does anyone know why?

[flatford8]

Originally Posted by fordwife

Here in WA state many stores post the cash price and then charge about .10c more if you use a card. Does anyone know why?

I believe they have to pay a fee to honor the card....Mark

[Kube]

Originally Posted by fordwife

Here in WA state many stores post the cash price and then charge about .10c more if you use a card. Does anyone know why?

Actually, at least here in Wisconsin, it's illegal to charge more to use a credit card. One can offer a discount for cash, but can not increase the price for using a card.
Yes, many places do it, but it remains illegal.
Typically, a card costs the retailer accepting it about 2%. To me, it's part of the cost of doing business - just like heating the building, etc.
And, like heating the building, etc. the cost (about 2%) is added somewhere in to my sale prices.

[flatford8]

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If oil companies go under.....when demand goes up.....there won’t be enough production to meet the demand......so what do you think prices will be then???......Mark

[Kube]

Originally Posted by flatford8

If oil companies go under.....when demand goes up.....there won’t be enough production to meet the demand......so what do you think prices will be then???......Mark

Mark, are you serious or is this a serious case of sarcasm?

[petehoovie]

Originally Posted by flatford8

If oil companies go under.....when demand goes up.....there won’t be enough production to meet the demand......so what do you think prices will be then???......Mark

When I reflect on the gas crunch of the mid '70's, I recall that I didn't care what the price was per gallon of gas. My biggest fear was not being able to find where gasoline was even available...I had a long commute back then....

[woodiewagon46]

It can be $.50 a gallon everywhere, but on Long Island it will still be over $3.00 a gallon.

[Darrell S]

The biggest problem with these prices is that it puts US domestic companies out of business. Low prices may seem great but I don't want to go back to being dependent on middle east oil. If the middle east oil producers have no competition you bet their prices will rise. Not to mention all the US jobs lost.

[Kube]

Originally Posted by Darrell S

The biggest problem with these prices is that it puts US domestic companies out of business. Low prices may seem great but I don't want to go back to being dependent on middle east oil. If the middle east oil producers have no competition you bet their prices will rise. Not to mention all the US jobs lost.

My gosh guys, you really need to study up a bit more prior to making comments. Did a couple of you guys realize that the US oil companies are in the top ten most profitable companies in HISTORY?
Did you know the US government GIVES billions per year for "exploration and research" to these companies?
If they go out of business, tough sh--. They have made enough profits to operate at zero profit for a long time is they so choose or, if they were smart enough to hold on to some of the funds.
I own a few small businesses that are all closed at this time. Guess what? I put away "money for a rainy day" just as Dad taught us and won't have an issue with them being closed for a long time.

[ford38v8]

Originally Posted by Kube

My gosh guys, you really need to study up a bit more prior to making comments. Did a couple of you guys realize that the US oil companies are in the top ten most profitable companies in HISTORY?
Did you know the US government GIVES billions per year for "exploration and research" to these companies?
If they go out of business, tough sh--. They have made enough profits to operate at zero profit for a long time is they so choose or, if they were smart enough to hold on to some of the funds.
I own a few small businesses that are all closed at this time. Guess what? I put away "money for a rainy day" just as Dad taught us and won't have an issue with them being closed for a long time.

Mike, What a golden opportunity to become "Too Big To Fail"!

[V8COOPMAN]

So, we really need to study up a bit, hmmmm? Profits-Schmofits! Like everyone, I hate when the price rises at the pump. But a couple of you guys fail to realize that what are commonly referred-to as "oil company profits" is kind of a misnomer. You also have to realize that virtually all of the biggies like Exxon, Chevron, Conoco/Phillips, etc. are publicly-owned corporations. You also must remember that besides the "biggies", there are thousands upon thousands of small corporations, independents and even little guys working out of the back of a dually pick-up with a magnetic sign on the door that make-up this TOTAL oil industry in the U.S. of A. Fact....in 2015, 10.3 MILLION folks in the U.S. (98,200 in Wisconsin alone in 2014) earned a living in an oil-related job. That was 5.6% of the total U.S. workforce. Lots of folks dependent on the "oil patch" to eat! Oil and gas make-up 7.6% of our GDP. There's little hope for our country if circumstances cause one of these giants to go down the crapper...we'd BETTER give a sh..! There MUST be profit involved for the incentive necessary to make a huge industry viable, an industry (in this case) that we cannot reasonably live without. With the glut in oil now going-on because most are staying home and because the airplanes are parked, obscene numbers of oil patch folks have ALREADY been laid-off. You can bet that these folks give a sh..!


It's understandably difficult to find actual NET profit figures for the U.S. "oil" industry exclusively, because the way most of these companies are structured, they don't do oil and gasoline ONLY. One loose figure I found was a NET profit of $257B (illion) for oil and gas companies in U.S. and Canada/2014.


That's a bunch of profits, for sure, but some Mr. Exxon dude, nor some Mr. Chevron guy doesn't put that profit in that safe in the back room at the corporate office. That same CEO doesn't get to take that profit check and go buy a new Mercedes for his old lady. Those funds come out of his personal remuneration based on corporate profits...a whole different story there! Remember though, that the "biggies" are all publicly-owned corporations listed on the NYSE. And that's where the profits, or lack thereof, come in. Even though I hate it when that price goes up at the pump, I'm fortunate that when the profits proliferate, I get to share in a few dollars' worth of those profits because of common investments that a bunch of old dumb-ass goobers like myself have made over the years. In fact, I have been jokingly-heard to say something like …..."PLEASE let them big oil companies make huge profits". I've also been jokingly-heard to say...."PLEASE let them charge me more income tax"! Understand that either of those statements means that THIS Coopman MADE MORE MONEY! So, as much as we love to bitch about profiteering by large corporations, just remember that YOU folks....or any other American with half a brain like me has the opportunity to share in those profits. Ya just need to "study-up a bit" and understand how this great American economy (it'll be back when the "profit-takers" allow it) can really work FOR you! Profits ARE what makes our economy thrive. DD

[Darrell S]

Originally Posted by Kube

My gosh guys, you really need to study up a bit more prior to making comments. Did a couple of you guys realize that the US oil companies are in the top ten most profitable companies in HISTORY?
Did you know the US government GIVES billions per year for "exploration and research" to these companies?
If they go out of business, tough sh--. They have made enough profits to operate at zero profit for a long time is they so choose or, if they were smart enough to hold on to some of the funds.
I own a few small businesses that are all closed at this time. Guess what? I put away "money for a rainy day" just as Dad taught us and won't have an issue with them being closed for a long time.

I do know that the large oil companies are profitable. I'm glad they are. I put in lots of hours working in refineries as a steamfitter. Besides me there were iron worker/welders, carpenters, electricians, insulators, painters, laborers, machinists, truck drivers, mechanics, engineers and many more. Not to mention the spinoff to many suppliers and their employees. The wicked Standard Oil/Chevron paid my dads retirement for many years and after he died they continued to pay my mother plus her medical ins.

The federal gov. does not give the oil companies anything. The federal government makes no money, they only take it from people and companies that do make it. They money that the gov. lets the oil companies keep is not given to them, it was never the governments money to start with. And exploration/ research is not accomplished for free either.

[GB SISSON]

Originally Posted by Darrell S

I do know that the large oil companies are profitable. I'm glad they are. I put in lots of hours working in refineries as a steamfitter. Besides me there were iron worker/welders, carpenters, electricians, insulators, painters, laborers, machinists, truck drivers, mechanics, engineers and many more. Not to mention the spinoff to many suppliers and their employees. The wicked Standard Oil/Chevron paid my dads retirement for many years and after he died they continued to pay my mother plus her medical ins.

The federal gov. does not give the oil companies anything. The federal government makes no money, they only take it from people and companies that do make it. They money that the gov. lets the oil companies keep is not given to them, it was never the governments money to start with. And exploration/ research is not accomplished for free either.

Darrel, that was well said...Anacortes Wa is the dropping off point to our ferry serviced islands. It is surrounded by oil refineries light up like the 4th of July each evening..... But 2 hours ago I paid 3.69 for reg and 3.89 for diesel at my local pump.

[Tim Ayers]

It still hasn't dipped under $2.00 in Essex Co., NJ yet. I just paid $2.19 for regular. I was hoping for cheap high test gas. Not today. High test was still near $3.00

[flatford8]

No I don’t think oil companies are going out of business.....but with demand low...production goes down.....when demand goes up, if production doesn’t keep pace...prices will definitely go up....I only asked how far do you think they will go?.....we’re at about $1.65 as the lowest I’ve seen in southern Maine.......Mark

[5851a]

I feel no pain for the oil companies, ever notice the price of fuel at holidays or summer travel season. The price around here used to be 2 cents less for gasohol when it came out now it's between 40 and 50 cents less. One mention of a refinery problem or news of shortage will drive the prices up at the pump.

[ford38v8]

It’s called collusion and price fixing. But of course, those have been protected practices Ever since the breakup of Standard Oil 109 years ago.

[JT FORD]

In 1954 gas in the Omaha area was .25 a gallon at cut rate stations. Gas off the tank truck for farm use was right at .16c with out any taxes.