IS-SV

No thanks.

But I noticed today that here Chevron regular was $4.199 and premium $4.379.

mmarshall

Regular 87-octane now above $4.00? Good old CA......they never fail.

(just kidding..........I know there are nice things about living there, too)

RXSF

4.37 too. cost me over 60 dollars to fill up for the first time

kitlz

$3.77/premium yesterday at Shell, and I used a $25 Shell card received by redeeming points so it was free to me Almost filled the tank too.

IS-SV

For sure, but it's not Texas-like gas prices.

btw, - what's the typical uplift on premium gas (over regular) in VA?

mmarshall

Well, we can't make any more comments about CA prices in my neighborhood. Regular Shell 87 Octane is now $4.00 here, too ($3.99.9), despite the VA state-average of $3.68 as of today. (my neighborhhod is a relatively high-income area, as are most of the VA/DC suburbs, so prices often run above the state average).

The average markup for 93-octane over 87-regular, in the VA-DC suburbs, seems to be around 30-40 cents or so, depending on the station, with 91-octane mid-grade about 10 or 15 cents. Sunoco, in addition to 87 and 93, offers both 89 and 91-octane mid-grades as well....but I stick to Shell (or Chevron when I can find it.....their stations seem to be closing up in this area).

My Giant-Food grocery-shopping bonus-card accumulates points and earns some discounts at local Shell stations, from 10 to 40 cents a gallon or more, depending on how much you use it. That helps a little....not much.

RXSF

uh oh $4.41 for premium

LexBob2

I filled up today at a bp station. $4.10 for regular and $4.35 for premium. All other stations in the area are the same.

Big Mack

iTrader: (1)

Oil companies do not set the price magically, they are in conjunction with OPEC, however, controlling the supply. This does affect the price. Believe what you wish, but most of the oil companies do hold reserves so they can release them as prices creep up. It allows them to take advantage of dramatic price swings as a way of stimulating cash flow for when pricing is less conducive to profits. Is it horrible? No, but let's not kid ourselves and pretend that they don't have any reserves and it goes directly from the refinery to your local pump with no stops in between and a "sell by" date stamped on it like a cold beer or bottle of milk.

Every industry has risk associated with it. Those who put all their eggs in one basket and do not diversify into other areas or at the very least hedge their exposure to limit/mitigate the risk as much as possible will not get sympathy. And commenting on the "big" oil companies doesn't necessarily yield hatred to the little guys. They all get bunched together when comments fly from most people, kind of like Muslims or Christians or Jewish people.

Exactly - and a risk that gets a reward. Those who venture into it need to do their homework to ensure their goals are met, as I said above.

I disagree. Healthy profits are fine. When a company gouges consumers, and I am not saying the oil companies are, that's another thing. It's not always about sound investments, reinvesting, or growing the business. Those are goals, but sound management is a beginning and people don't like to feel like they are being cheated. What people fail to realize, however, is that many times the profit the larger companies post doesn't come solely from gas. Ever see how expensive things are inside their stores? And many of them deliver nat gas, oil, and other related items to stores and municipalities.

I already commented on the lack of diversity, but let me ask this - when they lose money it seems it shows they aren't making sound investments, reinvesting capital, and growing their business. Would you agree? Then that falls on them.

Yes. The sun is going to rise tomorrow, and someone will make some money. I think you are ignoring the fact that they lost money because they didn't anticipate things properly, not following the rules you spoke of - sound investments, reinvesting, growing the business - and it's not that they undercharged, it's that they overpaid.

I make no comment here, just repost what you said for you to view it.

There is no assumption - they do charge for oil. Period. End of story. They buy it, therefore they charge for it. Yes, they sell it at market rate (or higher if possible), but to say they don't charge for it is patently false. The most successful companies find a way to fill their reserves and release them as margins rise to maximum profitability. That is good business, no arguing it. If they were to "pull an Enron" and withhold it to create a false shortage, however, that would be grossly unfair.

This is because even when prices are low, companies such as XOM make record levels of profits and that is what the public sees. They don't see "Dave's Unnerground Machine Business" losing money because it's not directly on their radar. Perhaps because there is no local Dave's in their market??

This is an assumption on your part, and an incorrect one - I would argue that the majority of the public is ill informed about a lot of this, and simply sees their wallet being affected.

Agreed - to an extent. People get the government they deserve, by and large, but that's another topic. The big oil companies spend an enormous amount of money to have their interests protected in our government, and sometimes at the expense and detriment of the people and our environment.

Disagree. We should have utter contempt for those who choose to drive through life with their eyes closed to the world around them provided it doesn't cost them anything more than they are used to paying. At the very least, much like becoming a parent, there should be a test to vote. Won't happen, but that is life in the big city.

Big Mack

ABC

$4.29 yesterday for premo at costco in socal

KillaIS250

iTrader: (1)

$4.29 for Shell Premium. Seems to not be moving far from that tho. Still expensive, but i don't even care anymore. I NEED gas to get to work and get around...no other choice!

frankeysd

Yes there is, imagine if we all fill half a tank only there will be a glut of gas in their tank therefore if the inventory is just sitting on the gas company tanks they will be force to move it!!!!

STIG

I dont understand this. If you only fill half the tank, you will be there twice as quicker?

mmarshall

That's true, but you're not necessarily helpless either......there are a number things you can do to give your car better gas mileage and get the most out of every expensive gallon you do buy.

Start by cleaning anything out the trunk and interior you don't need to carry with you....weight is the enemy of acceleration, braking, handling, and fuel-mileage. Consolidate your trips into one as much as possible.....numerous cold start/warm-up cycles use a lot more gas, pollute more, and place more wear on the engine. Try to drive at steady speeds instead of a lot of stop-go or slow/fast cycles (I know, that's often hard to do or not possible in dense traffic). Avoid, if possible, areas you know have a lot of stop signs, traffic lights, or speed bumps. Drive at moderate speeds...mileage, in general, depending on the vehicle's aerodynamics, deceases significantly over 60 or 65 MPH. Keep tire PSis where they should be. And don't do jack-rabbit starts.

LexBob2

Around here gas is always quite a bit higher in the city vs. the suburbs, affluent or otherwise. In many parts of the city, gas is highest for those least able to afford it.