Market Watch

[ultrarunner]

Regular gasoline is still $4.79 here in WA. I have no idea what you guys are talking about, lol.

Prices for ALL goods remain high.

Mike

This morning the cheapest SF Bay Area independent regular $3.97

Down the block still at $5.15 ???

 

[D&D]

This morning the cheapest SF Bay Area independent regular $3.97

Down the block still at $5.15 ???

down the block guy probably paid over 5 so can’t afford to sell lower.
Md has a law that, in part, says “a retail service station dealer may not sell motor fuel below cost."

 

[aesanders]

I am visiting family in the SF bay area, and pulled over to fill up. Price was $5.07 per gallon. Didn’t know if this was a good spot to fill or not. Noticed others in the area about the same. Florida was about $3.20 before the vacation. Prices are definatly different in regions, but overall have come down a bit from last year (it is an election year, so did anyone expect different?).

Grocery prices up substantially all over though, and not expecting them to come down.

 

[edgarrian]

I am visiting family in the SF bay area, and pulled over to fill up. Price was $5.07 per gallon. Didn’t know if this was a good spot to fill or not. Noticed others in the area about the same. Florida was about $3.20 before the vacation. Prices are definatly different in regions, but overall have come down a bit from last year (it is an election year, so did anyone expect different?).

Grocery prices up substantially all over though, and not expecting them to come down.

Thats crazy how fuel is different. I guess its probably b/c of the taxes in california. Groceries here are bad. Restaurants have had definite price increase. Car parts and all those sorts of things definitely cost more. Oil prices have a lot to do with OPEC and what they are doing to manipulate pricing. They are trying to keep prices up but bc consumption is slowing down. Its not working. Which is why I think were not out of the woods yet. They are still hold there production cuts till the end of the year and into the first quarter of next year. They were not figuring on world economies to slow down as much as they have. The US is producing over 13 million barrels of oil which is a record and I know OPEC does not like the US having that much market share. I suspect they will flood the market with oil next year like they did in 2016

I believe with the feds trying to tamper inflation. It would appear they have it but inflation has been creeping back up again. So it will be interesting to see how this plays out. Im not convinced that we are out of the woods yet. Neither do most major banks.

 

[goeduck]

Regular gasoline is still $4.79 here in WA. I have no idea what you guys are talking about, lol.

Prices for ALL goods remain high.

Mike

I am not sure where in the state you are, but regular is $3.90 here when I filled up yesterday. $3.83 at Safeway today when I drive by.

 

[Peter 315]

Around 3.00 a gallon for reg gas here in NH...

 

[jyoutz]

$2.49 at Costco and Sam’s in Albuquerque. Up to $2.74 at other places

 

[Hay Dude]

I believe the posts here; TBNers aren't making this stuff up, they post what they are experiencing.
And their posts say different areas and states are dealing with some really different economies.

It does seems like the Eastern states - north, south, and coastal - are having hard times and a far more difficult recovery in these years post covid. While the mountain and western states are doing much better, almost as good as before.

I think we all agree that economic and social problems are tightly tied to gov't policy, but since it is different in different states, doesn't it make sense that a lot of this is mostly due to differences in state and local governments?
Overall federal & administration policies are more general, and apply pretty much equally everywhere.

rScotty

Applied equally, yes. However each state is so different, the application of those federal laws has a different impact.
I won’t go into who/what party governs most eastern/northeastern states, either.

 

[two_bit_score]

$2.49 at Costco and Sam’s in Albuquerque. Up to $2.74 at other places

Costco gas has been running about a nickel higher than Walmart when I use the Walmart Plus app.
We get 10 cents off the pump price with the Walmart Plus App.

 

[WM75Guy]

Price of West Texas Intermediate is down to $72.37/bbl today, providing some relief at the pump. Here prices are $2.32 for regular gas, $3.23 for diesel. Would be nice if that spread would come down but I don't see it happening anytime soon. Law of supply and demand.

From the Wednesday EIA report:

Total motor gasoline inventories increased by 1.8 million barrels from last week and are about 2% below the five year average for this time of year. Both finished gasoline and blending components inventories increased last week. Distillate fuel inventories increased by 5.2 million barrels last week and are about 11% below the five year average for this time of year. Propane/propylene inventories decreased by 0.5 million barrels from last week and are 17% above the five year average for this time of year.

 

[Rdrcr]

High, or a new normal? I remember 5 years ago some people asking for a $15 minimum wage. Today, no matter what the states set as a minimum wage, even fast food is paying $18+ and other wages are up as well. Prices aren’t going to decline because wages never go backwards.

They’ve retracted from around $5.69 per gallon at their peak but, we’re certainly not seeing any significant relief in gasoline prices. Diesel is still really high, around $5.79 per gallon. Delivery surcharges are definitely impacting the costs of goods here. And yes, the increases in minimum wage (and other wage increases) also increase costs of goods.

It’s crazy how expensive things have become here. I feel like I’m back in California, lol

Mike

 

[jyoutz]

They’ve retracted from around $5.69 per gallon at their peak but, we’re certainly not seeing any significant relief in gasoline prices. Diesel is still really high, around $5.79 per gallon. Delivery surcharges are definitely impacting the costs of goods here. And yes, the increases in minimum wage (and other wage increases) also increase costs of goods.

It’s crazy how expensive things have become here. I feel like I’m back in California, lol

Mike

Fuel prices are so variable by region. Here’s what diesel is today in Albuquerque. Where I live, prices are about 15 cents higher, but nothing like your area.

 

[Williy]

jyoutz I was talking about when Trump was president

diesel here is $3.29 to $4.34

willy

 

[Hay Dude]

There’s no longer an ability to defend the sharp increases in prices of fuel, food, insurance, housing and vehicles. Poor policies got us here and now everyone but the most strident defenders knows it.

These sharp increases are built-into everything now and will remain. We aren’t going back on whole goods. Fuel prices could subside with improved drill-here policies.

A (not so) “great reset” for the lower & middle classes.

Poop sandwich anyone? I have some generic hot sauce from the Dollar Store to take away the awful taste!

 

[WM75Guy]

There’s no longer an ability to defend the sharp increases in prices of fuel, food, insurance, housing and vehicles. Poor policies got us here and now everyone but the most strident defenders knows it.

These sharp increases are built-into everything now and will remain. We aren’t going back on whole goods. Fuel prices could subside with improved drill-here policies.

A (not so) “great reset” for the lower & middle classes.

Poop sandwich anyone? I have some generic hot sauce from the Dollar Store to take away the awful taste!

Unfortunately I think this is where we are headed.

But it's amazing what you can get used to, huh?

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[Torvy]

Train freight increases as fuel prices increase. While they can move more weight for less, they seldom get to the end user without transfer to a truck. I20 and I30 don't seem to have less truck traffic. The reduction in trucks to ports in CA is well documented as due to truckers taking other routes due to regs there.

Gas here is around $2.35. Diesel is about $1 more. The odd thing now is our small town price is close to that in Longview (about 45 miles away). Up until this week or so, the delta was about 40 cents. Gas price delta usually pays for my trip to Sam's. Not this week.

@D&D. Wisconsin has a similar law preventing companies from using fuel as a loss leader. Artificially keeps prices higher than they otherwise would be.

 

[tractortroof]

Because the moderators and the owner tend to lean to the left.
Its no secret, so don't anybody get their undies all bunched up ok?

I really should not say this, but I guess they gave up trying to control everyone’s speech on the forum. I kinda miss it—ha not really. Every once in a while I ask the Costco employees when they are going to start chasing customers around demanding that they wear their masks again, my wife dies when I do that.

 

[jyoutz]

jyoutz I was talking about when ***** was president

diesel here is $3.29 to $4.34

willy

Are you referring to when GWB was president? Because that’s the last time that fuel was less than $2 (for awhile). And during Covid shutdown.

 

[2manyrocks]

My recollection is that 1964 was the last year Congress insisted on a balanced budget.

 

[Rdrcr]

I am not sure where in the state you are, but regular is $3.90 here when I filled up yesterday. $3.83 at Safeway today when I drive by.

Olympia area. The reservations are selling regular for $3.97. In town is $4.79.

Mike