It's a new record
 

It's a new record:

$60.03

:(

Record what?

Hmmm....I wonder what that could be. I suppose the goal of the OP is to get us wondering, but I wonder how long it will be until it is revealed.

Sorry, It was not ment to be a brain teaser.

$60.03 = One tank of gas.

Bus pass = $37 per month (after a $15 subsidy from work)

Time is money.

Flying a rocket ship to work is expensive, Moonliner.

:D

Happy fun times. I suppose I should fill up after work, even though I'm only at half a tank.

Humm. It appears that with the new job my gas useage has slowed. Yay me!

One thing has been annoying to me regarding filling up my truck. I have a Chevy Avalanche with a 30 gallon tank. I always use my credit card for gas, but the preset approval limit at the pump is $75. So I fill it up till $75 is in the tank, and then I have to reauthoize my card and start over.

You'd figure with the increase in gas costs they'd up that preapproval amount at the stations.

And fortunately, the truck only gets filled up about every 2.5 weeks.

I was shocked (shocked!) two or three months ago when a fill-up cost me $51. A few weeks later it was $53. And last week it was $55.

The OMNIMVR Mk. II does require premium, which averages $.20/gal more than regular unleaded.

What happens if you don't use premium?

I heard of a website that shows you where the gas station with the cheapest gas in your area is. I hear it's updated daily. I'm too lazy to look for it...

This one?
http://www.gasbuddy.com/

That's it! :)

Except the cheap ones are usually Arco. :rolleyes:

Arco's bad?

Yea, it'll give ya gas. :D

Not if you dig getting 6 cheeseburgers and a 96 oz. soda for a buck.

I most certainly do not.


Wait... a buck, eh?

If I don't use premium, the engine monitor will retard spark timing since it can't burn the fuel as efficiently, thus reducing horsepower and mileage. It also leads to dirty injectors. [not a car guy] Or something like that. [/not a car guy]

ARCO is bad because they only accept cash or debit. I like to pay for gas on my Chevron or Mobil cards so I can get a monthly statement and see my fuel expenses each month.

I would have to respectfully disagree that premium would lead to cleaner fuel injectors, I think that depends more on the additives they put in rather than the premium/regular choice, so that could be brand dependent.

I didn't realize reducing the horsepower might reduce the mileage. I googled around and found an interesting article:

"High-test does have a potential fuel economy benefit. It is slightly denser than lower-octane gas, meaning there's a little more energy in a gallon. But the small difference is hard to measure in real-world use, and that same density can contribute to undesirable buildup of waste products inside the engine. "

I learn something new everyday

Umm, okay. It's a performance car and the owner's manual says "Premium fuel only." I am not complaining and in fact my last car was the same way.

A friend of mine drives a Lexus and he does the same thing. He doesn't put anything in it but Premium. He's never not put any other grade in out of fear of what it would do to his car...

I can understand not experimenting on a new expensive car.

I confess. I use regular in my Mercedes.

The octane rating of gasoline determines the way in which the fuel combines with oxygen during combustions, and thus the speed, violence, and temperature of the explosion (what you might call the combustion profile). A car's engine's materials, design, and timing are tuned to run ideally with a specific combustion profile determined by the grade of gasoline recommended in the owner's manual. Will using a different grade result in catostrophic damage to your engine? Hardly. But in the long run, if the engine is firing with a combustion profile outside of the design sepcs will require the engine to compensate and perhaps lead to accelerated wear or loss of peak performance.

I was very pleased to see my owner's manual recommend using only 87 octane.

Thanks for that. I knew it was something along those lines but am really not well-versed in how these things work (on the other hand, I'll be rebuilding Jennifer's computer over the weekend so it's obviously just a matter of specialties). Jen's Subaru (the DOOMBGY Mk. II) specifies 87 "Regular Unleaded only" as well.

Tom read a story today about Exxon/Mobile's profits this past quarter. Secibnd-highest profits for a quarter ever, second only to Exxon/Mobile's fourth quarter last year.

The article (I'm betting it was CNN or LA Times?) stated it like this: every second, Exxon/Mobile makes a profit that is the price equivalent of the amount of gas used to drive between NY and LA THREE TIMES. Every second.

How is this effin' legal?

My truck is rated for E85, but there is not one station in the entire Phoenix metro area I can find that sells it.

I just can't get upset at oil companies making a profit of about 9 cents/gallon of gas. That's not unreasonable. It's the sheer volume of the industry that produces the profits (Americans burn around 383 million gallons/day - or so it was in March 2005).

I hope they do not go with windfall profits taxes....a ridiculous and counterproductive thing to do. I was going to go into an explanation, but I'll defer to an economist who can explain it much better than I can.

Windfall Profits and the Price of Gas

Looks like there are 3 stations in Tuscon that sell E85, but I'm guessing you aren't going to drive that far.

Especially since E85 isn't really any cheaper, nor is it much more fuel efficient. It is just cleaner when it burns.

LSPoorEyorick: Why would it be illegal?

Aren't they gouging us?

And you can call me Heidi, btw. Or LSPE. Nobody's called me LSPoorEeyorick in... has anybody ever called me LSPoorEeyorick? This is where I would use a smilie if I was trying to annoy you. (But I don't use emoticons.)

Not at a 9 cent/gallon profit they aren't.

So the record profits from the fourth quarter of last year are from some sort of weird non-summer driving spike by Americans and the time-proximity to Hurricane Katrina is merely a coincidence?

Depends on how you define gouging.

So long as they aren't lying about the total supply of oil or somehow committing fraud to get people to buy their product (an eternally asked question which so far hasn't produced much in the way of evidence) then I would say they aren't. But by other definitions they are simply for having crossed some threshhold of "making too much money." The former is generally illegal and the latter is generally not.

For the most part, oil is sold on an open market. What is BP supposed to do, say "oh no, we can't possibly take the $75 you're willing to pay for a barrel of oil, how about $45"? The price of taking oil out of the ground hasn't really changed (and the amount of oil coming out of the ground hasn't really changed) but the amount of oil people want keeps increasing. What happens to price in that situation is pretty predictable. Add to that people trying to stockpile oil since they fear future supply may be interrupted and you get even higher prices.

Still comes out to about 9 cents/gallon of gas.

If anyone thinks that is unreasonable I'd like to know why.

So the profits they are reaping are from the sheer volume of gas sold?

That isn't the only area they get profits from, of course, just the one most directly affecting the average US citizen and the price of that gasoline is the cause of the complaints. There are statistics about how much of a barrell of oil is used for gas, motor oil, petroleum products, whatever. Gas is just one piece.

True, and you have to figure in time it takes from ground to market. If the price goes up you've made a profit on all that you have, regardless of the price when you got it out of the ground. The 30 gallons in your truck is increasing in value every day.

Just in case anyone cares to read it, here is the article.

And, just to clarify, every second Exxon makes a profit that is the price equivalent of the amount of gas used to drive a Hummer H3 between NY and LA three times. :)

If there are gougers out there in terms of gasoline, it would be the government, taking in taxes that are about four times the amount of profit the oil companies make per gallon. (I'm sure this will open the same can of worms it always does.)

Look, I'm a free market kind of guy myself, sca. But it's not as simple as all that. To my way of thinking, free market means free market. What it doesn't mean is that the wealthy should influence the decision making of the powerful. It doesn't mean that those who need it least get the most welfare from the government. Secret energy meetings? Huge windfalls from the government at the same time they announce record profits? Are you sh*tting me? The government is in bed with Big Oil but you went to defend the Corpos and deride the Politicos.

They both suck monkey balls, my friend.

Exxon made more than $10 Billion in a single quarter when many people are truly suffering financially in order to keep their vehicles running. Are they gougers? Yes. Who sets the price for a gallon of gas? The only answer you can ever get to that question is vague techno babble about this and that but the truth is, if you are Exxon and you control the source, the processing and the sale you can set whatever price you want and thats what they are doing. They are trying to make the most profit they can and using every excuse to do it. I just hope all of this greed is enough to finally convince people that it's time to bag oil and move on to better energy sources.

I heard pretty basic but informative report on the news about oil company profits. Interesting.

Heh - my work subsidy pays up to $60 a month - so I've been commuting nearly for free (except those damn zone charges)

Profit is not the problem.

I'm all for alternative energy sources.

When the alternative energy sources become more profitable, they will begin to move to the forefront. I previously mentioned I can't buy E85 for my truck (comparable in price to gasoline, or so I've heard) because it isn't sold within 100 miles of me. Why? Infrastructure is too expensive to make it profitable in Phoenix at a price I'm willing to pay.

And price gouging? I will again defer to my favorite economist.

Price gouging and gasoline

Probably only requires the 87. RTFM

It's called capitalism. Perfectly legal. And will continue as long as we, as a society, continue to rely on fossil fuels.

Did some quick research

Exxon: $9.92 billion profit on $100.7 billion revenue: 9.85% profit margin
Microsoft: $3.65 billion profit on $11.84 billion revenue: 30.83% profit margin (latest quarter that info was available - though I don't recall which one)
Disney: $1.434 billion profit on $8.027 billion revenue: 17.86% profit margin (latest quarter that info was available - though I don't recall which one)
General Electric: $11.123 billion profit on $37.821 billion revenue: 29.41% profit margin (Quarter ending March 31)
Apple Computer: $472 million profit on $4,370 million revenue: 10.8% profit margin (Quarter ending July 1) (I actually expected this one to be higher)

Of the five examples given, Exxon has the LOWEST profit margin.

GREAT post, Kevy. So apparently it is volume.

One thing I thought to be funny was the most recent Intel quarterly profit report (Released July 19, second quarter data).

Intel reported sales of $8.0 billion and a profit of $885 million, just over an 11% profit margin. This data was considered disappointing as compared to the second quarter of last year, with sales of $9.2 billion, and a profit of $2.0 billion, a 21.7% profit margin. While the disappointment is partly sales, the biggest disappointment is an almost 60% reduction in profit.

I guess I'm still in the mood that it is only $40 to fill up ShinyCar vs. the $70 it would have taken to fill up my Explorer.

Costco is $3.17/gal still. Lowest around by me.