Gasoline Price

[Ricorocks]

This formula has tracked gasoline prices accurately for 30+ years now:

World cost in crude oil, 'Brent Crude' (this am $36.00 bbl)

42 gal/bbl

$36.00 bbl / 42 gal/bbl = $0.857 bbl

Add $1.00 = $1.857 gal.

Adding one dollar per gal. covers refining, transportation, etc costs.
_________

This is not an explanation of why one station sells a few pennies more or less than another station. Nor is an attempt to explain EXACT prices. What we pay at the pump is a reflection of global prices, as the major oil companies sell gasoline globally. Brent crude is the best proxy for global oil prices.

[WaxMaster1]

This formula has tracked gasoline prices accurately for 30+ years now:

World cost in crude oil, 'Brent Crude' (this am $36.00 bbl)

42 gal/bbl

$36.00 bbl / 42 gal/bbl = $0.857 bbl

Add $1.00 = $1.857 gal.

Adding one dollar per gal. covers refining, transportation, etc costs.
_________

This is not an explanation of why one station sells a few pennies more or less than another station. Nor is an attempt to explain EXACT prices. What we pay at the pump is a reflection of global prices, as the major oil companies sell gasoline globally. Brent crude is the best proxy for global oil prices.

As long as it's TOP TIER gas, I don't care what the cost is!!!!!!!!!!!!

[dsg03gt]

$1.49 I paid today.

[custmsprty]

As long as it's TOP TIER gas, I don't care what the cost is!!!!!!!!!!!!

Now that's a good one, LMFAO!!!!!!

And his formula is totally irrelevant as gas taxes vary from state to state and county to county.

This dude has an oil and gas fetish to be sure.

$1.71 today in Tampa. And prices vary as much as .20 gal in the same county.

[FUNX650]

This formula has tracked gasoline prices accurately for 30+ years now:

World cost in crude oil, 'Brent Crude' (this am $36.00 bbl)

42 gal/bbl

$36.00 bbl / 42 gal/bbl = $0.857 bbl

Add $1.00 = $1.857 gal.

$36.00 bbl / 42 gal/bbl = $0.857 bbl<——


Bob

[Ricorocks]

Hello dsg03gt,

I'm glad that you received a discount to the global cost of gasoline.

Please view: US Average Gas Prices by State - GasBuddy.com

The median price (not average price) holds true!

Median is the one in the middle, or there is as many to the left as to the right.

The formula:

1. Gives an understanding of why gas prices are where they are now, hmm oil at $27.00 bbl, or $36.00 bbl. Compared to what you see at the pump, at times a disconnect is observed to oil prices & gas prices.

2. Should you see gas prices above or below, the formualatic, price you can understand if your being ripped.

3. Long term (30 years, or more) years show that, overlaying the GRAPHS of pump prices, to the formula, are significantly "statistically" accurate. Or you would not "REJECT" the formula.

[FUNX650]

$1.49 I paid today.

^^^ +1 ^^^


And, of all places...Looks like Texas gas
stations are doing a little price gouging:

Please view: US Average Gas Prices by State - GasBuddy.com

Bob

[Klasse Act]

I've seen it as low as $1.54 here but that's Speedway. I pretty much only run Shell or BP due to my piggy-back, Mobil is also ok. IIRC the last price I paid was $2.54 for Shell V-power 2 days ago.

[Ricorocks]

Look Guys & Bob with his faulty calculator:

The formula is not trying to say this is the exact price of gasoline over time:

WHAT IT DOES SAY IS:

The reasonable price (some may be higher, some may be lower) is what the formula says.

Example: if 'Brent Crude' sells at $42.00 bbl, then $42.00/42.00 bbl = 1.00 add $1.00 = $2.00 gal gas price

Should you pay more or less, than the formula, sorry or glad, that's your outcome. INFORMED is the fair price, represented by the formula

[BrutalNoodle]

Just pumped $3.79 at the local 76 for 91 oct, and I thought that was fantastic.

You guys and your under 3 bucks petrol...