How much is gas where you live?

[OSCAR]

There's a lot of hype going on about the price of regular unleaded gas going down. It's been around $3.15 or thereabouts here. However as you'll note from the picture above in OSCAR'S post, the price of diesel remains close to $5 a gallon. It hasn’t gone down to any significant extent if at all, and that's a MAJOR impact on the price of anything transported by truck, anything produced on a farm - in other words everything we buy, everything we eat.

The price of a gallon of regular unleaded gas is STILL 170+% higher than it was in 4Q 2020. People have short memories - politicians count on that. They want us to believe that because the price of a gallon of gas has dropped recently everything is wonderful again. They’re hoping folks won’t remember it’s still significantly higher than when they took office and began executing their war on fossil fuels in words and
deeds (“we are going to put them out of business”).

The price of everything I buy, from groceries to diesel to fertilizer and animal feed, to clothes, electricity, and on and on, is significantly higher than it was 2 years ago. Pay attention people!

Ken

Absolutely correct Ken. And diesel requires way less refining than gasoline so it should cost less. Most EVERYTHING has at least doubled in price yet the inflation rate is supposedly only 7%. Must be the new math. P.S. fossil fuels aren’t as harmful as some of the alternatives that the greedy want to shove down our throats. Big brother expects everyone to not only comply, but smile as they stick it to us.

[MissouriGuerrilla]

it's $3.29 here in my part of the Ozarks.

[Samb]

Diesel was always cheaper back in the long gone good old days!

[OSCAR]

Yeah, my 1.8L high compression Yamaha engine says Premium Gas Only on the gas cap. Wouldn't want to risk using anything else for fear of messing up the engine. It's a 2004 Toyota Matrix XRS with a 6 speed manual. Lots of fun to drive.

If I remember correctly that was an engine that Lotus used - must be a blast.

You are correct!

My Miata takes high test also. I’ve gone a step further and use high test ethanol free gas in it. About $6.00 a gallon but cheaper in the long run than using cheaper fuel causing high dollar repairs. It’s a good thing that the weight of the car is light and gets great mileage or I’d go broke.

[Samb]

I saw $3.79 in Grant County Indiana today. Thanks Joe!

[schradefan27]

“93” is down to $4.09
Inflation reduction Act keeps working its magic.

[dlr110]

[Samb]

Must be nice!

[schradefan27]

“93” under $4.00 ($3.90)
Keep working Inflation Reduction Act!

[Samb]

“93” under $4.00 ($3.90)
Keep working Inflation Reduction Act!

I'll be glad when the inflation reduction hits the grocery store.

[royal0014]

Saw $3.03 in Auburn yesterday. $3.31 at home

[1967redrider]

When 93 octane hits $2.50, I'll say Inflation Reduction Act was successful. That's my line in the sand. Right now it's leveled off at $4.29 and traffic has really been picking up.

[dlr110]

[Mumbleypeg]

The headline on BBC News yesterday said it well - “Inflation continues to rise in U.S. despite lower petrol prices”.

Prices for regular unleaded gas are down because people aren’t buying as much of it. After buying groceries and other necessities they can’t afford to go anywhere but to work and back. The price of diesel drives the cost of agricultural and consumer goods - everything we buy. As long as the price of diesel remains high the cost of everything will remain high.

Inflation Reduction Act my ass!

Ken

[dlr110]

You're absolutely right Ken. Cheryl and I went to the base commissary recently and even there the price of meat is almost 3 times as much as it cost before the current administration. We seem to have lower gas prices over here but they jump around from day to day. Tomorrow we could be right back up to $3.29 or higher who knows.

[jerryd6818]

Rockford, IL 7/15/22

[Samb]

$3.71 today in Grant County Indiana, heading in the right direction but I'll be happy with it when it gets down to $3.00 but I ain't holding my breath.

[treefarmer]

$2.99 in Panama City, Florida. $3.49 forty miles north in Washington County. Maybe there is an upside to going to the doctor in Bay County.
Treefarmer

[dlr110]

It went back up and is now $3.05 to $3.09.

[Samb]

$3.68 in Grant County Indiana.

[cody6268]

I've noticed used cars have gotten stupid as well.

I looked at the KBB listings for a 2014 Kia Forte, the car I got my driver's license in through a driving school; as it's hard to park the '98 Dodge RAM I normally drive (and the gas mileage is awful), and I hate driving crossovers (folks traded in an '08 Edge and a '15 Escape on a '21 Escape). Main reason--I knew it was a cheap car when new, and I figured used prices would be low.

The MSRP was $13,500 in 2014. High mileage examples that were rough were $8,500 (128K), and relatively low mileage (77K) were $12,500--1K difference from MSRP and it's an eight-year-old car! High-mileage Ford Taurus and Fusion models from 2018 are still 20K.

However, I can't complain from a trade-in/seller's point of view. Last year, in trade-in value, we got almost what we had in the Escape when it was bought used in 2017 (20K vs. 27K) and we got 8500 out of the nearly 14-year-old Edge. Ain't giving up my truck, however. New ones are loaded down with way too much junk.

[TwoFlowersLuggage]

I can see two offshore oil platforms from my house, yet here are the prices of our gas...

[jerryd6818]

Still in the $3.60 - $3.90 range.

[Mumbleypeg]

Just heard that the rent on a 2 bedroom apartment has increased an average of $450 a month since January 2020.

Ken

[dlr110]

Just heard that the rent on a 2 bedroom apartment has increased an average of $450 a month since January 2020.

Ken

I can absolutely believe that Ken, after living in that rat trap town home in Carrollton last year. When we locked in our interest rate on this house we only had to finance about half the price and our rate was 3.99%. I see today some are as high as 7.054% on a 30 yr fixed. How long before that rate exceeds 10%?