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$3.69-$3.89 Where/when does it end?


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About to roll out on a 1400 mile round trip. With the prices of gas, it's still cheaper than 4 people flying. Looking at $250-280 in fuel hopefully. Free lodging is a big plus. All this doesn't sting me as most daily commuters. Thankfully my work round trip is 11.4 miles.

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Price of deiseal fuel will probably keep us from going to Big Bend N P this spring. Paid 469.00 3 days ago. Cost me 124.00 for fill up. My truck gets 10-12  MPG, while pulling our RV, depending on topography of land. Truck holds 28 gallon of fuel. Gives me 240 miles per tank because traveling out west one needs to refuel when going to 1/4 of a tank. Sometimes, fuel is far between stops. Big Bend is about 1300 miles from Murfreesboro.  Estimated to use 130 gallons one way and fuel is always higher out west. Fuel cost estimated to run around 300 gallons in all most likely at 5.00 + per gallon. Takes a chunk of lollie just for the trip not counting all the other expenses. Hard on a retired dude. 

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The first time I paid $1 per gallon for gas (technically 99.9 cents, but rounded to $1) was in the spring of 1980 in Memphis.  Using an inflation rate of 3%, that totals to $3.46 per gallon today.  At the time I was in college and for me, money was a lot tighter then than now.  As I remember, gas prices went up some more over the summer before falling back later, however it's that first episode of $1 gas that stands out in my memory.  This was after the hostage crisis in Iran and during the Soviet invasion of Afghanistan, so world tensions were high and gas prices rose quickly, much as we're seeing now.  Inflation was also running rampant at that time as well.  There's no real point to this anecdote, other than to say that gas prices have always been volatile, and geopolitical issues often have a marked influence on them.  I expect that at some point prices will fall again, much as they have done before, but regardless the increases we're seeing today are not unprecedented and, accounting for inflation, aren't higher than in prior, similar episodes ...

Another data point, in the aftermath of the Katrina hurricane local gas prices hit $4 per gallon (and were reportedly well over $5 in many parts of the country).  Inflation over the 17 year interval since then has been rather tame compared to the 3% rate commonly used for historical estimates.  Using only a 1.5% rate, that $4 gas of 2005 equates to $5.15 today, so we have a ways to go to match that year's gas prices ...

Edited by No_0ne
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1 hour ago, pop pop said:

Price of deiseal fuel will probably keep us from going to Big Bend N P this spring. Paid 469.00 3 days ago. Cost me 124.00 for fill up. My truck gets 10-12  MPG, while pulling our RV, depending on topography of land. Truck holds 28 gallon of fuel. Gives me 240 miles per tank because traveling out west one needs to refuel when going to 1/4 of a tank. Sometimes, fuel is far between stops. Big Bend is about 1300 miles from Murfreesboro.  Estimated to use 130 gallons one way and fuel is always higher out west. Fuel cost estimated to run around 300 gallons in all most likely at 5.00 + per gallon. Takes a chunk of lollie just for the trip not counting all the other expenses. Hard on a retired dude. 

I don't know if it's any consolation to you, but I just got back from South Texas on Monday & diesel prices were about 80c-$1/gal cheaper, all through Louisiana & Texas. Alabama & Mississippi stations will absolutely lift your leg though. 

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As stupid high as fuel prices are right now, I'm willing to pay more if the US will quit buying Russian oil altogether. Every dime that goes to Russia from energy sales is helping to finance the murder of innocent Ukrainians right now. And I would sure like to see the US pumping as much oil as possible to offset that a bit.

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2 minutes ago, Darrell said:

As stupid high as fuel prices are right now, I'm willing to pay more if the US will quit buying Russian oil altogether. Every dime that goes to Russia from energy sales is helping to finance the murder of innocent Ukrainians right now. And I would sure like to see the US pumping as much oil as possible to offset that a bit.

A couple of days ago there were reports that Russian sellers couldn't offload oil supplies even at a substantial discount to the Brent crude rate normally used throughout the European markets.  This was without any sanctions on the sales, buyers simply weren't buying Russian oil supplies.  I don't know if this was for symbolic reasons due to the war, or maybe buyers were afraid that sanctions would be applied before the contracts were delivered, thus risking their investments altogether.  In any case, apparently Russia is finding it increasingly hard to sell crude on the open market ...

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10 hours ago, Erik88 said:

What would that be? Make us all buy a Tesla?

Pretty much.  Otherwise, I can't think of a reason our leaders would refuse to increase American oil production, which would A. lower the price for Americans already fighting inflation  B. Supply the rest of the world or much of it  and C. Make dickheads like Putin irrelevant.  Instead, supporting the green energy cult is more important than national security.  

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