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originally posted by: FamCore
a reply to: Riffrafter
$2.97 here in Vermont... I pay it because I have to with the commute.
I believe oil is abiotic and something that is created within the earth, not biotic like most of the "experts" out there will tell you
originally posted by: 727Sky
a reply to: Riffrafter
Shell Oil X president says 4.00$ with a barrel of oil going back to triple digits all within the next year and a half..
The last three years with prices so low there was no investment to drill therefore the oil glut has disappeared..
originally posted by: Edumakated
originally posted by: Riffrafter
Gasoline prices have been rising at an alarming rate for the past 6 months. From $1.92 per gallon in November 2017 to $2.85 per gallon today in Charlottesville, VA.
And this is happening during a time period that is typically very stable for gasoline pricing in the U.S. We haven't even gotten to the annual "Memorial Day Highway Robbery" event that is staged each year prior to the big driving months of summertime. So, what is going on here?
Is it price gouging by Big Oil because the general consensus is that America is more prosperous lately? Is it a supply vs. demand issue? Or is it something else entirely?
I'm very curious what my fellow members are paying in their local communities. ATS's large member base and global reach is the perfect platform to see how pricing varies from place to place. Maybe some of you even know why that is. Additionally, I'm very aware that our colleagues in Europe have been getting raped by gasoline pricing (re: Petrol) for a long time, so I'm extremely curious if you folks have experienced this rapid rise in gasoline pricing too or if it's limited to the U.S.
So, what are you paying today in your local community? Have you also noticed the rising prices?
This should be very interesting - and enlightening - for all of us.
Oil is a commodity... it is pure supply and demand.
We can pay more than $4.00/gallon here in Chicago. I believe we have the highest gas prices in the US. A lot of it is taxes though.
Big Oil actually doesn't have very large margins. In fact, most large oil companies have profit margins of about 6.5%. So out of every dollar in revenue, only 6.5 cents is actual profit. Compare this to say Apple which has gross profits of almost 40%.
At the gas station level, they are only making about 5 cents a gallon in profit. Gas stations make their money inside from selling you cigs, candy, and condoms...