Why can't they have a price war like this in my town?

[j_garcia]

Gas Price Hits 47 Cents a Gallon in Michigan After Price War.

https://gma.yahoo.com/gas-price-hits-47-cents-gallon-michigan-price-200353614--abc-news-personal-finance.html

 

[psbfan9]

I just filled my tank at $1.55 a gallon.

 

[TheWarrior]

Gas Price Hits 47 Cents a Gallon in Michigan After Price War.

https://gma.yahoo.com/gas-price-hits-47-cents-gallon-michigan-price-200353614--abc-news-personal-finance.html

Ever been to Michigan?

(I'm not knocking it, it's beautiful, but there is nothing there!)

 

[j_garcia]

Yes :

Ever been to Michigan?

(I'm not knocking it, it's beautiful, but there is nothing there!)

Yes, been all over it and yes, there's not a lot going on there for a lot of the state. The town of Pontiac was virtually a ghost town. Much of Detroit seemed pretty desolate too. Pretty much just the college towns were bustling.

 

[cpd]

Not sure where you are from, but in my state (WI), there are laws preventing these types of price wars relating to gas. The law requires retailers to add a minimum mark up to the price they pay for the gas. The concept is to prevent larger retailers from selling gas below cost to drive out smaller competition. So we will never see $.47 per gallon here, unless the wholesale price of gas is lower.

 

[j_garcia]

I am sure there are some regulations around here too, but I've also seen companies do this in smaller towns here. Big place can afford to take the loss to get the business and create repeat business during the heaviest seasons, which in turn hurts the little guy. I live in a big area and while prices may be competitive on a corner with multiple shops, it is a few cents and the next corner of stations will be similar as well. I just paid $3.01 for 91...and that's GOOD.

 

[Hi Ho]

I filled up the other day for $1.99/gal. That is the lowest I have seen since I was in high school. I'm in Washington state where we have close to the highest gas tax in the nation so I figured gas must be real cheap elsewhere in the country.

 

[macddmac]

1.76 for diesel today- cheapest fill up I've had in 11 years-51.00. I remember paying as much as 130.00 a tank in my
Cummins.
Cheers,Mac

 

[ParadigmDawg]

1.76 for diesel today- cheapest fill up I've had in 11 years-51.00. I remember paying as much as 130.00 a tank in my
Cummins.
Cheers,Mac

I filled up my diesel at $1.76 yesterday too. Now I can make it 564 mores miles before spending that money gain....

 

[its phillip]

I filled up my civic last night for 1.45/gal

 

[ParadigmDawg]

I filled up my civic last night for 1.45/gal

...but did/were you able to go 564 miles before empty while having 456 lb/lbs of torque off the line?....

 

[its phillip]

...but did/were you able to go 564 miles before empty while having 456 lb/lbs of torque off the line?....

I get maybe 300-330 miles on a tank. 128 lb/ft of torque at 4300 rpm

 

[KenM10759]

It's a tough thing, this drop in oil prices. While most of us appreciate cheap, the bust has had a HUGE effect on a lot of US jobs. The oil business here is dead, people being laid off, plants that make support equipment (valves, pipes, pumps, etc) are closing. The stock market has also taken a huge hit, and this hits me directly in my 401K. I work in a 3rd tier down industry that depends a little bit upon the petroleum business (machining) and some areas of this have suffered.

Low gas prices do have "two sides of the same coin" and not everyone benefits. For domestic production of oil to be a viable business we need prices above $70 a barrel. We're below $30 right now. It'll recover someday.

 

[ParadigmDawg]

It's a tough thing, this drop in oil prices. While most of us appreciate cheap, the bust has had a HUGE effect on a lot of US jobs. The oil business here is dead, people being laid off, plants that make support equipment (valves, pipes, pumps, etc) are closing. The stock market has also taken a huge hit, and this hits me directly in my 401K. I work in a 3rd tier down industry that depends a little bit upon the petroleum business (machining) and some areas of this have suffered.

Low gas prices do have "two sides of the same coin" and not everyone benefits. For domestic production of oil to be a viable business we need prices above $70 a barrel. We're below $30 right now. It'll recover someday.

Oh I get it. I own a lot of mineral rights and when I am paying $4/gal, at the pump, I am much happier