Gas Price Info With National Gas Temperature Map

[pro96]

$3.03 for premium here in Southern California at a station by my house.

Try $3.25 for premium in Moorpark today as I left my co-partners home. And had no choice but to fill my empty tank. Paid $71.50

 

[Mr Tony]

2.62 here in SW suburbs of Minneapolis

Filled up at 2.17 last night (E-85)

 

[riffjim4069]

Filled up at $2.69 yesterday at the locall Wally-Mart. I was hoping the price of gas would keep at least some of the people off the roads. A 100 miles drive from Baltimore to Fredericksburg VA (I-95) took 5 hours and 5 minute. People gotta have their fuel...even if it means bending over and paying $3.50 per gallon.

 

[Roger]

Filled up at $2.69 yesterday at the locall Wally-Mart. I was hoping the price of gas would keep at least some of the people off the roads. A 100 miles drive from Baltimore to Fredericksburg VA (I-95) took 5 hours and 5 minute. People gotta have their fuel...even if it means bending over and paying $3.50 per gallon.

It will not keep people off the road. They just won't buy other things which will kill the economy.

 

[Mr Tony]

2.55 here...dropped a few more cents

 

[Peter Parker]

2.69 here

what shortages on "summer blend"...whats the difference?

I don't know about the shortage part but there are different seasonal formulations.

Here is just one article. http://www.slate.com/id/2098672?src=NetxAutos"

 

[dfergie]

$2.79-$2.89-(This bunch of stores raise prices before anyone)

 

[newsjunkie]

Gas just jumped from $2.71 this morning, to $2.95 for regular here in Springfield, IL.

 

[charper1]

I don't know about the shortage part but there are different seasonal formulations.

A repost from back on #283 of this thread.

Guzzling Gas in America

Americans have an insatiable thirst for gasoline, and with sport-utility vehicles (SUVs) continually growing in popularity we are only getting thirstier. Just look at the roads and highways and you'll see that a severe gas shortage would practically cripple the country. Americans drive more than 2.5 trillion miles per year in automobiles, light trucks and SUVs, according to a MEMA report. That's equal to 14,000 round trips to the sun. Today, we drive almost twice as much as we did in 1980 (1.5 trillion miles), when gas prices were at their highest.

The United States consumed an average of 20 million barrels of oil per day (bbl/d) in 2004, according to the Department of Energy. Of that, 45 percent was used for motor gasoline. The rest was used for distillate fuel oil, jet fuel, residual fuel and other oils. Each barrel of oil contains 42 gallons (159 L), which yields 19 to 20 gallons (75 L) of gasoline. So, in the United States, something like 178 million gallons of gasoline is consumed every day.

Typically, the demand for gas spikes during the summer, when lots of people go on vacation. Holidays like Memorial Day and the Fourth of July create logjams of tourist traffic during the summer. This high demand usually translates into higher gasoline prices, although that's not always the case. For instance, while gas prices soared 31 cents in April and early May of 2001, reaching $1.71 per gallon, prices actually declined during the 2001 summer. In 2004, prices continued to rise past the end of the summer travel season for a variety of reasons, including several hurricanes and an increase in the price of crude oil.

Price increases generally occur when the world crude-oil market tightens and lowers inventories. We will discuss who controls the crude-oil market later. Also, growing demand can sometimes outpace refinery capacity. In the spring, refineries perform maintenance, which can place a pinch on the gasoline market. By the end of May, refineries are usually back to full capacity.

Where Your Money Goes
When you pump $20 dollars into your tank, that money is broken up into little pieces that get distributed among several entities. Gas is just like any other consumer product: There's a supply chain and several groups who are responsible for setting the price of the product. The media can sometimes lead you to believe that the price of gas is based solely on the price of crude oil, but there are actually many factors that determine what you pay at the pump. No matter how expensive gas becomes, all of these entities have to get their slice of the pie.

Let's look at where your money goes when you pay for gas:

* Crude oil - The biggest portion of the cost of gas -- about 45 percent -- goes to the crude-oil suppliers. This is determined by the world's oil-exporting nations, particularly the Organization of the Petroleum Exporting Countries (OPEC), which you will learn more about in the next section. The amount of crude oil these countries produce determines the price of a barrel of oil. Crude-oil prices rose to as high as $37 per barrel (1 barrel = 42 gallons or 159.6 L) in 2000(Source: U.S. DOE).Sometimes, gas prices go up even though there is plenty of crude oil on the market. It depends on what kind of oil it is. Oil can be classified as heavy or light, and as sweet or sour (no one actually tastes the oil, that's just what they call it). Light, sweet crude is easier and cheaper to refine, but supplies have been running low. There's plenty of heavy, sour crude available in the world, but refineries, particularly those in the U.S., have to undergo costly retooling to handle it.

* Refining costs - The refining of crude oil makes up about 13 percent of the price of gasoline. To learn more about oil refining, read How Oil Refining Works.

* Distribution and marketing - Crude oil is transported to refineries, and gasoline is shipped from the refineries to distribution points and then to gas stations. The price of transportation is passed along to the consumer. Marketing the brand of the oil company is also added into the cost of the gasoline you buy. Together, these two factors account for about 13 percent of the price of gasoline.

* Taxes - Taxes, including federal and local, account for about 31 percent of the total price of gas in the United States. Federal excise taxes are 18.4 cents per gallon, and state excise taxes average 20 cents per gallon. There may also be some additional state sales taxes, as well as local and city taxes. In Europe, gas prices are far higher than in America because taxes on gas are much higher. For example, gas prices in England have risen as high as $6 per gallon, with 78 percent of that going to taxes.

* Station markup - In order to stay in business, service stations have to add on a few more cents to make a profit. There's no set standard for how much gas stations add on to the price. Some may add just a couple of cents, while others may add as much as a dime or more. However, some states have markup laws prohibiting stations from charging less than a certain percentage over invoice from the wholesaler. These laws are designed to protect small, individually-owned gas stations from being driven out of business by large chains who can afford to slash prices at select locations.

Gas prices also vary from state to state for several reasons. Taxes are probably the biggest factor in the different prices around the country. Additionally, competition among local gas stations can drive prices down. Distance from the oil refineries can also affect prices -- stations closer to the Gulf of Mexico, where many oil refineries are located, have lower gas prices due to lower transportation costs. There are also some regional factors that can affect prices.

World events, wars and weather can also raise prices. Anything that affects any part of the process, from the moment the oil is drilled, through refining and distribution to your car will result in a change in price. Military conflicts in parts of the world with lots of oil supplies can make it difficult for oil companies to drill and ship crude oil. Hurricanes have damaged offshore drilling platforms, coastal refineries and shipping ports that receive oil tankers. If a tanker itself is lost or damaged, or leaks its oil into the ocean, that will put a dent in the market as well.

Regional Differences
In some regions of the country, gasoline is required to meet higher environmental standards in order to reduce the amount of smog created by burning gasoline. Producing this cleaner-burning gasoline can cause problems in refining, distribution and storage, which increases the cost of gas. "The result of this targeted approach to air quality has been to create gasoline market islands," John Cook, director of the petroleum division of the DOE's Energy Information Administration, said before the U.S. House of Representatives Committee on Energy and Commerce on May 15, 2001.

Cook pointed at California and the Chicago and Milwaukee areas as primary examples of gasoline-market islands. The clean-burning requirements in each of these areas are unique to that individual area, and only a few refineries can produce the specialized products. High demand, a supply problem at a refinery or a problem with a pipeline can cause pricing in these areas to surge.

In California, the state government has set its own reformulated gasoline rules that are stricter than the federally mandated clean-gas laws. This is why Californians pay a higher price for cleaner fuels -- this, plus a local sales-and-use tax of 7.25 percent, an 18.4-cent-per-gallon federal excise tax and an 18-cent-per-gallon state excise tax. California's distance from the refineries located near the Gulf of Mexico can also add to the cost of gasoline if it chooses to obtain gas supplies from those refineries.

The other area where prices can far exceed the U.S. national average is the Midwest. In 1999, the Midwest region became subject to new reformulated gasoline rules. The Midwest uses a special gasoline that is produced using ethanol instead of methyl tertiary butyl ether (MTBE). Ethanol is used in the Midwest because of the region's abundance of corn, which is the main raw material used to make ethanol. Few refineries outside the region produce this type of reformulated gasoline, which means there may often be a limited supply of the product.

Global Gas Prices

Most expensive per gallon/3.8L

Rates adjusted into US Dollars
Amsterdam, Netherlands: $6.48
Oslo, Norway: $6.27
Milan, Italy: $5.96
Copenhagen, Denmark: $5.93
Brussels, Belgium: $5.91

Least expensive per gallon/3.8L

Rates adjusted into US Dollars
Caracas, Venezuela: $0.12
Lagos, Nigeria: $0.38
Cairo, Egypt: $0.65
Kuwait City, Kuwait: $0.78
Riyadh, Saudi Arabia: $0.91

Control of the Oil Market
Crude oil inventories have the single biggest effect on gas prices, and the United States depends heavily on foreign oil supplies. In December 2003, the United States imported approximately 300 million barrels of oil [ref]. The single largest entity impacting the world's oil supplies is the Organization of the Petroleum Exporting Countries (OPEC), a consortium of 11 countries: Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.

Together, these 11 nations are responsible for 40 percent of the world's oil production and hold two-thirds of the world's oil reserves, according to the Energy Information Administration (EIA). When OPEC wants to raise the price of crude oil, it simply reduces production. This causes gasoline prices to jump because of the short supply, but also because of the possibility of future reductions. When oil production dips, gas companies get nervous. The mere threat of oil reductions can raise gas prices.

In April 2001, OPEC decided to reduce its collective production by one million barrels per day. This was at the same time that American consumers saw gas prices rise, hitting an average high of $1.71 per gallon on May 14, 2001. (Average prices are figured by factoring in prices of different octanes and prices from different areas of the country.)

Beyond OPEC, there are several other countries that contribute to the world's crude-oil supplies, including the United States, Mexico, Canada, Angola, Equatorial Guinea, Russia and China. In 2002, the United States imported from Mexico approximately 1.5 million barrels of crude oil per day [ref]. OPEC tracks the oil production of these nations and then adjusts its own production to maintain its desired barrel price.

Cause and Effect
Numerous forces can influence the price of gas at the pump, but fuel costs are only one part in the vast web of global economics. Gas prices have an impact on other parts of the economy as well. You're already aware of the immediate effects of rising prices - that feeling of stunned disbelief as the numbers climb and climb while you fill your tank. There are secondary effects as well. You might decide against a long road trip because the gas would cost too much. When it comes time to buy a car, you might decide against a gas-guzzling SUV and find something with better mileage instead.

Let's look at the big picture. Does a hike in gas prices lead to inflation in the overall economy? It could, as long as the increase is a steady, long-term rise in prices. Expensive gas means it's expensive to ship products by truck, expensive to drive long distances and expensive to fly in airplanes. All those costs mean the cost of virtually any product you can think of will go up if gas prices stay high.

However, economists don't look at gas prices as a leading indicator of inflation. The price of oil, along with food costs, are far too volatile - that is, they are easily influenced by things like weather, labor strikes and wars. The costs swing up and down, depending on world events. To watch for inflation, economists keep their eyes on the core Consumer Price Index, which is a measure of the cost of certain goods, like DVD players, hotel rooms or college textbooks, that stay more stable in the short term.

Domestic Supplies
After seeing how much oil the United States imports, it may be surprising to know that the United States is the world's second largest producer of oil. In 2003, the United States produced about 5.7 million barrels of crude oil each day. The biggest production region is around the Gulf of Mexico, and the largest producing state is Texas. The Gulf Coast region is home to two important producing areas: the Permian Basin, located in west-central Texas and eastern New Mexico, and the federal offshore portion of the Gulf. Other big oil-producing states include Alaska, Louisiana, California, Oklahoma and Arizona.

Even with the United States producing so much oil, it is still heavily dependent on foreign sources. It's that dependence that crippled the country during the oil embargo of 1973 and 1974. To make sure that this situation never happens again, the federal government formed the Strategic Petroleum Reserve (SPR). While most domestic oil is sent directly to refineries and then to the consumer market, some of it is held back and sent to the SPR.

Strategic Petroleum Reserve
When foreign oil production decreases, you often hear the media talk about the U.S. Strategic Petroleum Reserve (SPR). As of February 2004, it stores about 645 million barrels of oil in underground salt caverns along the Gulf of Mexico [ref]. Given that the United States imports about half of its oil, the Strategic Petroleum Reserve holds about a 60-day supply of oil if all imports were suddenly and totally cut off. See What is the Strategic Petroleum Reserve? for more information about how the storage sites work.

When oil supplies shrink, the SPR can be used to help make sure that people have enough affordable oil to heat their homes. President Clinton authorized the Department of Energy to release up to 30 million barrels of oil in a swap with oil companies. The companies took the oil in fall 2000 and were required to return it by fall 2001.

The SPR is the largest emergency petroleum supply in the world. It was first used during the Persian Gulf War in 1991 to keep oil plentiful and prices stable. The SPR costs about $21 million per year to operate and employs about 1,100 people.

Arctic National Wildlife Refuge
In 2001, a bill (S. 389) was proposed in the U.S. Senate to open a portion of the Arctic National Wildlife Refuge (ANWR) in Alaska for oil development.

The Arctic National Wildlife Range was established in 1960 to protect the “unique wildlife, wilderness and recreational values” of the area. In 1980, Congress passed the Alaska Lands Act, which renamed the area and more than doubled its size. Today, the ANWR encompasses nearly 20 million acres, which is about the the size of South Carolina. The same act authorized the study of the oil and gas potential of the northern part of the Refuge, called the 1002 Area. This region is still being looked at as a possible oil-development site, but environmental groups say that any oil production would upset the natural ecosystem within the ANWR.

It's still uncertain just how much oil exists under the ground of the ANWR. A 1998 analysis conducted by the United States Geological Survey (USGS) estimates that there are about 7 billion barrels of profitable oil in the 1002 Area alone, but the price of crude-oil determines how profitable that oil is. If the price of crude oil dips below $16, the cost of producing the oil would offset any profit. Prices were at $27.92 per barrel on the world market in June 2003.

The issue of gasoline prices is often a volatile one. As long as cars and other vehicles run on gasoline, the price of gas will continue to affect every part of our economy. While other fuel sources exist, none of them could be quickly integrated into our economy, which leaves Americans dependent upon gasoline for the time being.

This gas dependency makes everyone from the daily commuter to the shipping company executive very aware of price fluctuations. These fluctuations may vary from week to week or month to month, but over time are relatively stable. Still, limited resources, as well as environmental concerns related to oil use and production, encourage scientists to look at new technologies, such as fuel cells, to reduce our dependence on oil and gas.

 

[Mr Tony]

2.85-2.89 here

 

[steve615]

$2.80 per gallon (reg. unleaded) in Murfreesboro today.

 

[charper1]

Try $3.25 for premium in Moorpark today as I left my co-partners home. And had no choice but to fill my empty tank. Paid $71.50

Just to be nosey, but what are you driving that requires premium? AND was this self or full serve? Somewhat similar to AZ, CA also has regional boutique fuels and a high added tax rate; our tax is somewhat lower.

 

[pro96]

Just to be nosey, but what are you driving that requires premium? AND was this self or full serve? Somewhat similar to AZ, CA also has regional boutique fuels and a high added tax rate; our tax is somewhat lower.

Done a couple of tests with 89 and 92 octane. On a full tank using both grades I got an average of 30 more miles using 92 over 89.

So paying the extra 10-15 cents makes it all worth while.

BTW: In Woodland Hills today i saw a few stations at $3.40 for 92 octane.

 

[charper1]

Done a couple of tests with 89 and 92 octane. On a full tank using both grades I got an average of 30 more miles using 92 over 89. So paying the extra 10-15 cents makes it all worth while. BTW: In Woodland Hills today i saw a few stations at $3.40 for 92 octane.

Just wondering how did you manage your driving styles accurately and account for the differentiations in traffic conditions to make it a fair, scientific comparison?

 

[dragon002]

$2.79- $2.89 here

 

[Neutron]

$2.85-2.99 a gallon here.

We waited in line at the pump last night when it was $2.85 a gallon and as it was finishing up they were changing it to $2.89 a gallon.

 

[NightRyder]

$2.53 here (regular unleaded) at Costco.


NightRyder

 

[garn9173]

ethanol jumped to $2.79 here over night, it's probably up at least $0.50 in the last month alone!

 

[bigmarkhd]

try 2.95 a gallen for regular in north penn.

 

[dragon002]

2.62 here in SW suburbs of Minneapolis

Filled up at 2.17 last night (E-85)

berg,

the e-85 ethanol mix, is that 85% ethanol or 85% gasoline?

around here i make it a point to buy at sunoco stations, all their gas has 15% ethanol.

i would run out of gas before i buy at a citgo.