Finally, gas in So Cal is going down

[Honda Fan]

The other morning here in Los Angeles / Orange County I got my 87 octane at Costco for $3.99. I was so happy I felt like paying for the guy behind me.

[MAXBKS]

Good news. The wife and I are planning to go to a Costco in Corona today and she needs gas also.

Wednesday night our local Thrifty here in Norco had 87 octane for $4.19.
Almost made me feel giddy. Almost!

[PaulMys]

The other morning here in Los Angeles / Orange County I got my 87 octane at Costco for $3.99. I was so happy I felt like paying for the guy behind me.

This was their (Big Oil) plan all along. Having people feel "happy" about paying $4 a gallon for gasoline. Jack the price up to $6-7, then slowly bring it down to $4.

Fact is, Big Oil would turn a handsome profit on $1.75 a gallon.

Criminals.

[luckydawg]

This was their (Big Oil) plan all along. Having people feel "happy" about paying $4 a gallon for gasoline. Jack the price up to $6-7, then slowly bring it down to $4.

Fact is, Big Oil would turn a handsome profit on $1.75 a gallon.

Criminals.

Just like where I use to work-- they would take stuff away that we always had-- then a year or two later let us have it back and let us know just how lucky we are to have them as our bosses

[luckydawg]

$2.87 in Ocala last weekend, probably around $2.70 @Same club

[Flash Gordon]

LA will kick your ass in gas costs. But the weather sure is nice...

[sixsix]

This was their (Big Oil) plan all along. Having people feel "happy" about paying $4 a gallon for gasoline. Jack the price up to $6-7, then slowly bring it down to $4.

Fact is, Big Oil would turn a handsome profit on $1.75 a gallon.

Criminals.

As someone who works at an oil refinery, I can tell you they don't set the price for gas. Sure our margins are excellent cause of the crack spread, and we're making money hand over fist, but they don't go out and tell the gas stations what to set the price at. During covid we were actually loosing money...they had to take loans out just to make payroll. Most of the profit they are making now is going back to pay for debt's that they took out during those years.

I paid $2.45 yesterday.

[Flash Gordon]

As someone who works at an oil refinery, I can tell you they don't set the price for gas. Sure our margins are excellent cause of the crack spread, and we're making money hand over fist, but they don't go out and tell the gas stations what to set the price at. During covid we were actually loosing money...they had to take loans out just to make payroll. Most of the profit they are making now is going back to pay for debt's that they took out during those years.

I paid $2.45 yesterday.

And to ad gas stations don't set the price either (or are not legally suppose to). I grew up around this industry. If I remember correctly you could only charge a nickel above what you paid per gallon. It's the main reason you saw so many independent service stations turn into mini grocery stores in the mid to late 80's.
My suspicion is that gas stations are not heavy inspected/regulated as they once were and that station owners are getting very wealthy these days. It's one of the only things that I agree with Biden on. Well that and nuclear bombs. I wonder if those things even exist...

[MisterSnoop]

Sure our margins are excellent cause of the crack spread

Last I saw, the regular gasoline crack was negative. Diesel is still positive though.

[Flash Gordon]

Why does gas drop drastically by the barrel but doesn't ever seem to show up at the pump?