Could be. I never buy premium gas. If your vehicle needs premium you can
probably afford it.
I canât say that I ever pay any attention to what premium gas costs.
People act like itâs some fat cats named Exxon, Chevron, Shell, etc that raking in all of that money. It is really the stockholders that are benefitting. Some of those stockholders are rich dudes, but most are 401Ks, union pension funds, IRAs â you know funds for average peopleâs retirements.
Another thing, all of the folks who complain about the profits oil companies make in good times, never seem to care when they are doing badly and have to lay off workers and cut back on needed projects.
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A bad assumption on people.
A teacher and student with a car that had a new MSRP of 32000.
Another bad assumption or simplification.
I would also look at bonuses for the oil company execs.
Also Exxon stock is much lower now than in 2018, so the average upper class person as stockholders are not necessarily benefiting.
Who is complaining about the good times and not caring about bad times?
Exxon stock is higher than it was in 2018.
And plenty of people of are complaining about oil and gas making a lot of money now that times are good. Itâs not the first time thatâs happened either.
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Agree, but the stock buybacks seems like the worst thing to do with a profit. If they want to burn the cash, just distribute it to the shareholders and we can decide how to spend our good fortunes.
Most new cars do NOT require premium. Here is a rather
modest list of those âregularâ cars that do. It is the buyers choice to choose to
burn more money on fuel. Buyer beware.
Jan 26th 2018 - $89 per share
Aug 5th 2022 - $88.45 per share
Canât see the forest for the trees. The point being that the shares are not skyrocketing and getting people massively wealthy in their retirement funds compared to 2018. Yet gas prices were lower in 2018.
Yes, many people also know when gas companies are doing layoffs due to bad times. My own family falls into the good and bad times for oil as both my father and grandfather worked in the industry. Grandfather worked on the Alaska pipeline even.
Yet another canât see the forest for the trees.
I never said anything about most cars. My second reply to you was simply to say you are a self-centered snob telling other people how to live. There are people that use premium in their cars because they like the car and it runs better with premium. They can have a car which is not some high priced premium car, but one an average person can afford but still benefits from premium. An individual choice, not yours.
Premium gas on an individual adds a couple hundred per year to gas costs. It is not breaking anyone as an individual, but maybe a latte or less each week. The point about the first reply was that a gas company is raising prices above normal under this economic time and it is tied to Shell and not a small mom and pop gas station.
I never said anything about most cars. My second reply to you was simply to say you are a self-centered snob telling other people how to live.
Where did I tell anybody how to live ?
Show me please.
Iâll make it easy for you by providing my words :
If your vehicle needs premium you can probably afford it.
I choose to not purchase vehicles that require premium.
Stop projecting.
The Environmental Protection Agencyâs (EPA) fuel cost calculator estimates the difference between driving a vehicle that gets a combined 28 mpg for 15,000 annual miles would cost $400 more per year if it requires premium-grade gas instead of regular. Thatâs an extra $2,000 out of pocket
And speaking of bad assumptions, it appears your estimation is off by 2X.
Yes your exact words. It has an implied meaning that cars that use premium are expensive and only people wealthy enough should drive them. ie. be able to afford it.
Not projecting, but a common issue of communication in this country centered around oneâs specific way of life.
Next, I know exactly my gas usage, not an assumption, and quoting something does not make it exact. I did not feel the need to give exact numbers, but the same implication that it is not a major impact ( I consider $400 annual not a major impact). Plus your quote is not exact either. If you do the math it is closer to $375 per year, and you are making a five year assumption. Next, that is based off of the Houston difference of .70 per gallon which is generally higher than most other parts of the country. Some places are as low as .30 per gallon which would be $160.80 more per year (less than a couple hundred). Not even going into the fact that I get more than 28 mpg, others may get higher and some lower. Thus you gave a really worthless quote trying to assume info to make my âassumptionâ incorrect.
Yet you still have not even bothered to respond to the initial intent of the reason for my first post in the first place. Shell raised their premium gas rates beyond market in a time of tight or restrictive budgets on society, when no one else did. The small mom and pop did not. But please go one about your lack of projection on a topic my post did not even start.
Out.
You picked the high point in 2018 and it still didnât prove your point.
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The price of gas was artificially low (less than $2/gal) during the worst of COVID because demand collapsed while shale production was losing billions.
Prices will go up and down and we can argue about whether it is drilling, refining, price gouging, whatever. None of it will matter. People will buy ICE vehicles until the price of EVs edges below them, and problems like range, battery replacement, and charging infrastructure seem less expensive and more convenient.
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You guys realize that Biden will use the drop in gas prices to thwart inflation for anther few months.
Your right, I concede. The average personâs retirement fund is skyrocketing and they are all rich compared to 2018 because Exxon stock price was at $88 the other day.
Thatâs not what you said originally which is what I was responding to. Youâre also not accounting for dividends in your assessment.
That said, it is interesting that Exxonâs stock price isnât higher based on crude price. I think there are plenty of potential reasons for that.
If thatâs true, and very well may be, I suppose Shell
has data to price according to what it thinks its customers will pay. Bully for them. But if you buy a
vehicle that requires premium, donât cry about the cost
of premiumâŠwhich goes for a premium. Over 10 years
thatâs $4,000 you elect to burn. Based on EPA
estimates as I posted.
And if you can find premium cheaper than Shell, good
for you. Itâs not hard to find another station down the
road.
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Itâs $89.00 today. Some of us loaded up on it when
it was ~36.00 in October 2020.
Sorry you missed 2.5X pop.
Hydrogen fuel cell vehicles are the answer, why are we going battery power
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