What are you guys paying for gas?

[406dn]

There is also a handful of other countries that have a lower median income then Russia and gas is still six dollars a gallon so I don’t know if that logic quite works out. But we can just afford to pay more.

Those countries aren't sitting on the oil and gas reserves Russia has. Russia, for whatever reason choses to make gasoline available to its citizens at below market prices. I think some of the oil producers in the middle east do something similar.

 

[BigHornRam]

Those countries aren't sitting on the oil and gas reserves Russia has. Russia, for whatever reason choses to make gasoline available to its citizens at below market prices. I think some of the oil producers in the middle east do something similar.

Venezuela has some of the largest oil reserves, made gasoline available cheap for all citizens, and is now in economic shambles. Russia is on it's way to shambles. So are we if don't pull our head out soon.

 

[hank4elk]

$4.25 av for reg in NM news just said.
3rd largest producer state....

 

[Deleted member 28227]

Venezuela has some of the largest oil reserves, made gasoline available cheap for all citizens, and is now in economic shambles. Russia is on it's way to shambles. So are we if don't pull our head out soon.

Indeed

 

[406dn]

Venezuela has some of the largest oil reserves, made gasoline available cheap for all citizens, and is now in economic shambles. Russia is on it's way to shambles. So are we if don't pull our head out soon.

That is stretched really thin to compare the USA to Venezuela. I guess we did have a half hearted coup attempt, so maybe we are on our way to shambles. We have our problems but, I wouldn't trade them for either Venezuela's or Russia's problems.

 

[Nick87]

Filled up the side by side For the kids today, the mower and the rototiller. A little over $90 I've got about a gallon and a half left.

 

[JohnCushman]

Gas went down to $4.09 the other day. I was running around and busy, so didn't stop, figuring it's going to go down a little more. The next day it was $4.14. It was lower for 1 friggin day. I just put $60 in my F150 and got just over a half tank.

 

[Deleted member 28227]

“Much talked about the line where we see exponential demand destruction. In a normal non-Covid environment, it'd probably be north of $5 per gallon now with inflation, but given the current economy, $5 wouldn't destroy as much demand. I think we'd need to get closer to $6,” he said.

Highest Ever U.S. Gasoline Prices Aren’t Destroying Demand | OilPrice.com

U.S. gasoline demand is not going down despite record-high gasoline prices, which have been beating previous all-time highs on a daily basis in the past two weeks

oilprice.com

 

[pre6422hornet]

4.76 for regular 87 here in NW Indiana yesterday. The bank card stops at $75 so the tank only received 1/2 a fill up..

 

[TheGrayRider]

Just jumped to $4.59 for 88 in North Central Indiana. Not worried because its “transitory”!

 

[hank4elk]

$4.64 this morning and a half a tank cost $60+++
This county is most expensive in state.
3rd largest producer of oil in country.

 

[Scott85]

$5.55 for diesel but with an app $5.40

 

[Birdbander]

Stations around Grand Rapids, Mi area & surroundings are currently increasing to $4.59 today.

 

[Derek44]

“Much talked about the line where we see exponential demand destruction. In a normal non-Covid environment, it'd probably be north of $5 per gallon now with inflation, but given the current economy, $5 wouldn't destroy as much demand. I think we'd need to get closer to $6,” he said.

Highest Ever U.S. Gasoline Prices Aren’t Destroying Demand | OilPrice.com

U.S. gasoline demand is not going down despite record-high gasoline prices, which have been beating previous all-time highs on a daily basis in the past two weeks

oilprice.com

Diesel hit 5.76 here at home today. So we’re getting close

 

[F250]

People have to get to work. There are no public transit opportunities in rural areas. We have to buy fuel to get there. We have to buy fuel to get food. We have to buy fuel to tend the fields. We need fuel for chainsaws, etc. Our lives center around the energy provided by the internal combustion engine. That may change someday. It hasn't yet and will not for the foreseeable future. Until that day gets here, the government needs to stop blocking the oil, gas, and coal industries with politically motivated regulations. I get it : limit pollution. Don't destroy the average family's way of life here in America while China, Russia, India and others are doing nothing to limit their pollution. Really, if the other countries don't join in on limiting pollution, whatever we do here will have little effect on the atmosphere.

 

[Deleted member 28227]

Diesel hit 5.76 here at home today. So we’re getting close

I imagine that demand for some types of fuel are very elastic while others are fairly inelastic.

For instance jet fuel, there aren't a ton of "necessary" reasons to fly especially post Covid. While at the same time people need to get groceries and go to work. I think peak pandemic flights were down 85-95% while gasoline usage was down ~40%, though that only lasted for a few weeks.

So I imagine that "$6" gas is a bit of a metaphor for the upper limit.

I found round trip tickets from Denver to Boston last year for $250, I just paid $800 for one... I've got to imagine that changes some folks plans.

Also I don't think that percentage wise demand has to drop all that much to cause prices to drop, the average for 2020- early 2021 was ~15% below normal. So something like a 5% reduction likely get's us back in the reasonable price range.

Which is also the reason I think companies are a bit hesitant to ramp up production too much, it takes a while to go from drilling to pump so if you ramp up 40% and then by the time your gas get's to market demand has dropped 5% you could be looking at $45 oil again.

Also

Failure To Implement Russian Oil Ban Could Send Oil Crashing To $65 | OilPrice.com

Lack of internal support for a full EU embargo on Russian crude oil may take out one of the key fear factors for oil, which may send prices crashing back to $65 per barrel

oilprice.com

 

[Mallardsx2]

$5.50/gal diesel yesterday in NEGA.

 

[Mallardsx2]

I found round trip tickets from Denver to Boston last year for $250, I just paid $800 for one... I've got to imagine that changes some folks plans.

I was going to fly out to do a quick scouting trip this summer and decided against it. Its just too expensive to fly right now for recreation. I can put that $800 somewhere else for sure and take the dice roll on going out and hunting the spots I know hold elk.....

 

[WNC2500]

$5.49 in North Carolina yesterday.

 

[Rhcuam]

Filled up on Friday for 3.99. Today it’s 4.19 Freaking ridiculous.