Seemingly “glued-on” price digits tell the story: Gas STILL over $4 in parts of U.S.
Tuesday 28 Oct 2008 | Posted By Patrick | Predictions
Tonight as I step back and look at local prices, I see how high we are compared to several locales. We even sit higher on a regional level- Ohio is paying just $1.98 in areas!
Having set the stage, how would you feel knowing oil prices have slid if gasoline prices stayed at their record high levels of $4.25 or so?
Well, in part of the U.S., some people are still paying over $4. In fact, they’re paying more than we ever paid this summer (unless your timing is terrible).
Ouch! Where is the attorney General in Wyoming? They are stuck paying $4.30/gal at this ExxonMobil. Leave it to XOM to charge this even as gas prices and oil prices have fallen 50% off their highs. This is today’s price which I just verified moments ago as well.
Don’t get stuck traveling to the mountains of Wyoming!
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Unless that Bobcat is sitting in their parking lot for decoration, it seems possible that the station is closed for a remodel. The concrete pad also looks new. Speedway isn’t smart enough to take prices of closed stations off their website, it wouldn’t surprise me if people forget to take the numbers down from their sign.
Wholesale prices have been dropping more than the futures market for the past week and a half. They are finally catching up to each other. In fact the Nymex price right now (up 8 cents from yesterday) is almost the same price as today’s rack price.
We need the wholesale prices to drop another 10-15 cents and $1.999 will be a realistic price. But, it’s starting to look like the nymex price has hit the bottom.
The Bobcat has been doing construction just under the webcam’s vision.
I’ve been watching it- a few cars have got gas, but the town is so small… they likely have gas they bought a long time ago.
I read an article recently that said Exxon Mobil have (or are in the process of) selling off all of their remaining corporate owned retail stores. That is, Exxon Mobil is no longer in the retail gasoline business because there is no profit in it. So, it’s no longer appropriate to directly blame Exxon Mobil for retail prices.
No matter if XOM is in the retailer market, they still are charging station owners for the gasoline they refined. Thus, it still will be appropriate to blame XOM. Instead of CHARGING the price, they force the station owner to change prices.
I doubt that ExxonMobil sold that station any fuel. It’s much more likely that a distributor is the supplier, especially in a small town in Wyoming. But I’m not sure that the town is as small as a you make it out to be since there’s a Sinclair directly across the street. (FWIW, the highest price currently on WyomingGasPrices.com is $2.799/gal.)
I’ve been getting gas in Ann Arbor for $2.19 for the last half of the week… seems to be stuck there…