Gas Price Watch

[sour_grapes]

Phil, I don't miss them near as much as I miss the $.26 per gallon for regular, $.32 per gallon for premium and $.38 per gallon for super premium (like Golden Esso Extra, which I used to use in my '58 Impala. It had 3 2-barrels on a 348 block, and went like poop shot from a cannon!) I really don't think we will ever see those days again.

Now down to $2.15 at Costco/Sams in ABQ, NM!

Well, whaddya know? We are now below the price (adjusted for inflation) that Rocky remembers, suffused in a golden glow from the halcyon days of his youth: http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=0.269&year1=1958&year2=2014 If you click on that link, you will see that $0.269 in 1958 is the same as $2.21 today.

Apparently, we will see those days again.

 

[Rocky]

That is great, Paul. I used the calculator to determine that the $3875.00 that my Impala cost in 1958 would now be $11,166! If there is someone who has one for that price, I am on my way with money in hand and I will be there tomorrow!

 

[sour_grapes]

Not sure where your calculation went awry, @Rocky, but when I enter the numbers, I get that $3875 in 1958 equates to $31,835 today: http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=3875&year1=1958&year2=2014

Here is another point to consider. I chose a Toyota Camry as sort of a "blah" car to serve as a point of comparison, checking both the 4-cylinder and the 6-cylinder. (At least your Impala nudges out the 4-cylinder Camry.)

1958 Impala Sport Coupe 348 V-8 Super Turbo-Thrust (3 x 2bbl., highest power model)
0-60 time: 8.3 sec.
Highway MPG: 12.5
1/4 mile time: 16.4 sec

2015 Toyota Camry (4 cylinder)
0-60 time: 8.4 sec.
Highway MPG: 35
1/4 mile time: 16.5 sec

2015 Toyota Camry (6 cylinder)
0-60 time: 5.8 sec.
Highway MPG: 31
1/4 mile time: 14.3

Nostalgia ain't what it used to be! (Or maybe poop shot out of cannons more slowly then?)

 

[Boatboy24]

That's all well and good, Paul. But it's still a Camry.

 

[sour_grapes]

That's all well and good, Paul. But it's still a Camry.

Point taken!

Imagine if Aunt Margaret showed up in 1958 with a Camry, and blew the absolute doors off of all of the exotic sports cars and proto-muscle cars?

 

[Boatboy24]

Point taken!

Imagine if Aunt Margaret showed up in 1958 with a Camry, and blew the absolute doors off of all of the exotic sports cars and proto-muscle cars?

Or imagine if Uncle Rocky shows up in 2014 with a 1958 Impala. Nobody would see the Camry. Well, nobody would see the Camry without the Impala either.

 

[Rocky]

Not sure where your calculation went awry, @Rocky, but when I enter the numbers, I get that $3875 in 1958 equates to $31,835 today: http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=3875&year1=1958&year2=2014

Paul, I am not sure how I did it, but I must have inadvertently changed the base year to 1980. That calculation works out to the number I posted. Thanks for the correction but even at that price I would still be on my way with money in hand if I could have my baby back again. I only have one picture left of the car from a faded photo that my Bride had enlarged and air brushed to take some of the nearby cars out of the picture. (My Father's '56 Packard and our neighbors 59 Studebaker Lark, the latter of which can still be through the rear window of my car. If I were clever enough to scan it I would post it.) Ah, the memories...

 

[richmke]

The Opec oil cartel no longer exists in any meaningful sense and crude prices will slump to $50 a barrel over the coming months as market forces shake out the weakest producers, Bank of America has warned. ...

Francisco Blanch, the bank’s commodity chief, said Opec is “effectively dissolved” after it failed to stabilize prices at its last meeting. “The consequences are profound and long-lasting,“ he said.

The free market will now set the global cost of oil, leading to a new era of wild price swings and disorderly trading ...

It will take six months or so to whittle away the 1m barrels a day of excess oil on the market – with US crude falling to $50 - given that supply and demand are both “inelastic” in the short-run. That will create the beginnings of the next shortage. “We expect a pretty sharp rebound to the high $80s or even $90 in the second half of next year,” said Sabine Schels, the bank’s energy expert. ...




http://www.telegraph.co.uk/finance/oilprices/11283875/Bank-of-America-sees-50-oil-as-Opec-dies.html

 

[ibglowin]

Now down to $2.09 at Costco/SAMS in ABQ, NM!

 

[ibglowin]

I am predicting sub $2 a gallon in ABQ by Monday 12/15/14

 

[grapeman]

I actually saw a price of 3.069 today but that is about 8-10 cents lower than anywhere else. Kerosene here is 4.29.

 

[Troll]

Getting cheap

We were at $2.19 yesterday in south Georgia

 

[reefman]

wow, it's amazing what OPEC is trying to do, and hurting their own members at the same time. Let's hope the competition can stay in business. Only down to $2.56 here in north Maryland.

 

[ibglowin]

Now down to $2.05 at Costco/SAMS in ABQ, NM, however there are now 2 "Fuel Stop" gas stations in ABQ that are selling regular Unleaded for $1.99!

This hurts our State budget something terrible as they get about 50% of their operating revenue from taxes on oil and gas production within the State. When the economy tanked in 2008/2009 they had a double whammy as the bottom dropped out of oil and gas but people stopped spending on top of that as they lost their jobs, homes etc so gross receipt taxes were also way off. Hopefully that part won't happen this time but they are already saying that some companies may be laying off very soon in the oil patch down in southern NM.

 

[ibglowin]

I am predicting sub $2 a gallon in ABQ by Monday 12/15/14

Well it has happened.


Now down to $1.95 a gallon at Costco/SAMS in ABQ, NM!

 

[grapeman]

There are a few spots locally uner $3 now.

 

[Charlesthewino]

I saw $2.30 in Kenosha, WI this week. The Chicago area is higher, but any relief is good.

 

[terrymck]

Dropping like a stone here. $1.93 at Sam's in Easley, SC.

 

[TomK-B]

My wife bought gas at a Kroger near the airport in Nashville for $1.99 on Friday.

 

[reefman]

Northern Maryland is down to $2.49.
Best I saw in Penn. yesterday was $2.61.