Gas Prices, did they drop were you live?

"Shady Balkan Subject, Drives an Alfa" (bularmy)
10/20/2014 at 12:43 • Filed to: gas prices

So more or less the headline, the oil on the markets has dropped in price significantly in the last months. Did this affected the prices you pay?

In June, Brent was at $115 for barrel, now it is $85, over 25% decrease in price. Did this translate to lower prices on you local pump?

Here in Bulgaria, the drop is about only 4%, with some expectations to go to around 8%, 10% at the very best and this is only if the price stays at this level.

DISCUSSION (24)

ly2v8-Brian > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 12:46

We're down to the low $2.80's per gallon (little over 3litres)

Shady Balkan Subject, Drives an Alfa > ly2v8-Brian
10/20/2014 at 12:47

But what was the last high?

DoYouEvenShift > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 12:47

2.79 for the cheap stuff. Premium dropped too but not much.

ly2v8-Brian > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 12:49

Just north of $3

Full of the sound of the Gran Fury, signifying nothing. > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 12:51

$2.649/gal last Thursday here in STL. Pump was running awfully slow (nearly 10 minutes to fill a 16 gallon tank), but a friend of mine that worked at a gas station in college said that's what happens when the station's underground tanks are almost empty. Hopefully my cheapness didn't result in a bunch of sediment in my tank.

Big Bubba Ray > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 12:52

Gas is hovering around $2.60 here in St. Louis. It's amazing.

Sn210 > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 12:55

Regular gas was $3.14/gal at the station I just passed

JGrabowMSt > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 12:56

Around me in the US, I saw regular gas drop below $3 a gallon. 93 is below $3.50. Hurts less to fill up...

Sam > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 13:08

Last time I filled up (around 3 days ago), it was at $2.97.

Jordan and the Slowrunner, Boomer Intensifies > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 13:21

We are at about $3 a gallon here, but with mid-term elections coming up, a drop was expected.

Jeff-God-of-Biscuits > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 13:26

No way you will ever see that reflected at the pump. Once they have you used to the spread, they will never voluntarily let you relax. I am just curious to see what happens after the elections here in the States. Seems like gas prices always dip around an election, as if to say "see, we're looking out for you guys, at least until after you vote."

WesBarton89 - The Way to Santa Fe > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 13:26

87 Octane here is about $3.13 or so, but I was able to get it for $2.73 a gallon the other day with gas discounts from grocery shopping.

cazzyodo > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 13:36

If anyone's curious about the US gas industry, let me know...it's my job. Only about two years under my belt but I know more than most.

Long story short, the market is cray cray this year.

TDogg > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 13:51

Ours has come down from ~$3.50/gal to right around $3.00/gal now. (Over the course of 3-5 months)

Cé hé sin > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 14:09

Fallen from €1.60 per litre to about €1.50. Big deal.

Shady Balkan Subject, Drives an Alfa > Jeff-God-of-Biscuits
10/20/2014 at 14:11

Well the prices dropped a little also here in europe, but from what I can gather is around 3-6%, so it is based on the crude drop. I think people are very sensitive about that and even in they don't know, the media will tell them, because they love smearing shit on Big Corp from time to time, which will lead to something.

in 2011 here in Bulgaria, we had a lage protest all over the country, because the prices were too much nflated based on what crude sold at the time, this lead to a significant decrease in prices and you here we more or less are at the hand of the monopoly called Lukoil.

desertdog5051 > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 14:11

Paid $2.69 Saturday.

Shady Balkan Subject, Drives an Alfa > cazzyodo
10/20/2014 at 14:13

Very nice, I was asking, because I was gathering a semi-scientific info for one paper I am writing about prices, raw materials, how they interact and such.

Do you know how much a price in the change of crude affects the price of gas on retail in the US. Both up and down. We have the lowest prices from 2011, but gas is more expensive than in 2011, at least in Europe that is.

Shady Balkan Subject, Drives an Alfa > Cé hé sin
10/20/2014 at 14:15

Which country?

Cé hé sin > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 14:22

Ireland, but you could say much the same about most countries in Western Europe. Much of the price is tax which is a fixed amount per litre. The basic price of the fuel itself forms only a minor part of the price at the pumps and so a large fall in crude prices doesn't mean a large fall in pump prices. Conversely, a large increase in crude prices does seem to result in a substantial increase at the pumps...

Shady Balkan Subject, Drives an Alfa > Cé hé sin
10/20/2014 at 14:48

I understand this, but still the margin at which stations operate is not small. Here in Bulgaria we are at €1.25 and I think you will say this is pretty low, but is is now and after a severe public unrest, the monopoly that is Lukoil were screwing us hard. Some time ago we paid the same as in Wester Europe, but we are also the poorest in EU. We have lowest excises and 20% VAT, but still in some places my calculations shows that consumers are pretty screwd.

http://ec.europa.eu/taxation_custo…

Cé hé sin > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 14:55

The filling stations make almost no money on fuel sales, they rely on their shops for a profit. The oil companies are another matter of course.

cazzyodo > Shady Balkan Subject, Drives an Alfa
10/20/2014 at 15:04

I don't look at crude myself as my personal focus is more on the markets and pipelines from a few different regions but in regards to prices, say from the Gulf Coast, prices are trading at the lowest point since 2010. I'm looking at the history right now via some software we use. Double checked on the EIA (you can download a spreadsheet of street prices by region and product) and prices now are below 2011 levels. The EIA has a history back to 1990! I don't use it for my reports or analysis but it's a good resource anyways.

Street prices are different than the trade prices. These are influenced by product availability and pipeline economics. For instance, there may be a pipeline that runs along the entire length of a country with a little off shoot halfway up. You can only fit so much gas in the line and into that offshoot so if demand shoots up you get a price increase because supply is finite. The rest of the gas goes up the main pipeline to the end where the demand is lower than supply so prices fall. Prices are regionally driven but the overall view of a country's demand and supply should be pretty well reflected by crude (as mentioned in the first part of my response).

With anything I write I always put a disclaimer that I don't know everything and may be completely off but I think this is about as right as I can get.

user314 > Shady Balkan Subject, Drives an Alfa
11/29/2014 at 17:46

I know I'm dredging up an old thread, but gas prices have continued to drop here in the States. We're a little behind the national average here in Pennsylvania (the legislature raised the gas tax this year, and will again next year, and again in 2017), but it's now down from a peak of $3.74 to $2.89.