Never thought you would hear those words again, did you? A Murphy Express opened yesterday here in Pace. I went to Lowe's this morning to get sandpaper. The Murphy and the two Tom Thumb stores within 10 blocks had gas at 3.549. When I came out of Lowe's, all of them were down to 3.539. Lines out onto Hwy 90, too. I hope by 3pm all of them will be down to 3.20.
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09:56 AM
PFF
System Bot
Old Lar Member
Posts: 13797 From: Palm Bay, Florida Registered: Nov 1999
Big drops last two days. Industry spokesman on the radio this morning said gas prices won't really drop until the refiners work through the more expensive oil.
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10:14 AM
Formula88 Member
Posts: 53788 From: Raleigh NC Registered: Jan 2001
I've never found gas prices to be reflective of the oil market... even when oil is down, gas goes up. And anyone ever notice it jumps by 20-50 cents over night, but when it starts heading back down it trickles 1-3 cents at a time? Bah.
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01:05 PM
87antuzzi Member
Posts: 11151 From: Surrounded by corn. Registered: Feb 2009
Last year it dropped to 99 cents in Lincoln Ca for just several hours. I bought over 120 bucks worth of gas. I then craigslisted the other gas for 2.50 a gallon. It was good. With the way its looking I would grab at least 20+ gallons if it drops below normal and store it or list it on CL when the prices get super high.
[This message has been edited by 87antuzzi (edited 05-06-2011).]
Last year it dropped to 99 cents in Lincoln Ca for just several hours. I bought over 120 bucks worth of gas. I then craigslisted the other gas for 2.50 a gallon. It was good. With the way its looking I would grab at least 20+ gallons if it drops below normal and store it or list it on CL when the prices get super high.
here in manteca it was @ .99 for allmost 12 hours before it shot back up to 1.29... everything that could hold gas was holding gas.. on a side note they just busted a guy here in town with a suburban modified with 5 55 gal drums and an electric pump, guys been steeling gas all over the valley and selling it to people for cheap... you wont find it on the news cause they dont want copycats, but i caught it on the scanner the other night.. was pretty interesting.
There were 2 stations around here that were doing that about a year or so ago. it was a shell and valareo each day one would be lower than the other by about 3 cents or so. than when they would hit rock bottom the prices would shoot back up. if you timed it correctly you could get a weeks worth of gas dirt cheap. sadly they dont do this anymore.
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07:07 PM
PFF
System Bot
Formula88 Member
Posts: 53788 From: Raleigh NC Registered: Jan 2001
I've never found gas prices to be reflective of the oil market... even when oil is down, gas goes up. And anyone ever notice it jumps by 20-50 cents over night, but when it starts heading back down it trickles 1-3 cents at a time? Bah.
There's a reason for that and it's not just greed.
Say you buy gas wholesale at $1 a gallon and sell it at $2. Great. Now oil goes up, so you hike up your price to $3. Man, you're on easy street now. Time to tank up again, only this time your gas costs $3. Hmm, time to up the price to $4. Uh oh, Obama just farted pure crude oil and the price plummeted - the store across the street is now selling his gas for $1.50. Problem - you've got in ground tanks full of gas you paid $3 for and have to drop your price to $1.50 to stay competitive.
The price goes up fast because it's easy profit. It comes down slowly because the gas in the ground was paid for when prices were elevated. Gas stations don't make much on fuel at all. They aren't the ones raking in the Bazillions of dollars. They operate on a razor thin margin and if it wasn't for beer and cigarette sales, they probably wouldn't be able to stay in business.
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08:29 PM
rogergarrison Member
Posts: 49601 From: A Western Caribbean Island/ Columbus, Ohio Registered: Apr 99
here in manteca it was @ .99 for allmost 12 hours before it shot back up to 1.29... everything that could hold gas was holding gas.. on a side note they just busted a guy here in town with a suburban modified with 5 55 gal drums and an electric pump, guys been steeling gas all over the valley and selling it to people for cheap... you wont find it on the news cause they dont want copycats, but i caught it on the scanner the other night.. was pretty interesting.
Imagine a honda element loaded with gas, lots of gas. But 5 55 gallon drums? Damn. I wish I had boughten a lot more gas when it jumped that low. I tried to get my friends to go in so we could buy around 500 bucks worth and then wait for it to jump. But they didnt. All I know is the price is getting out of hand real quick.