Gasoline Price

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Ricorocks

Ricorocks

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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.
 
Ricorocks said:
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.
Click to expand...

As long as it's TOP TIER gas, I don't care what the cost is!!!!!!!!!!!!
 
WaxMaster1 said:
As long as it's TOP TIER gas, I don't care what the cost is!!!!!!!!!!!!
Click to expand...

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. :laughing:

$1.71 today in Tampa. And prices vary as much as .20 gal in the same county.
 
Ricorocks said:
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.
Click to expand...

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


Bob
 
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.
 
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.
 
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
 
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... :laughing:
 
Ricorocks said:
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
Click to expand...

Do you even know what the NYMEX and RBOB are?
 
Care to explain?

$36.00 bbl / 42 gal/bbl = $0.857 bbl<——
Click to expand...

those emoticons showed, or tried to display a LIE

Folks you do the math: 36 divided by 42, what do you get?

This is a cheap shot, hoping you do not do the math & rely on BOB's false claims.
 
Ricorocks said:
Care to explain?



those emoticons showed, or tried to display a LIE

Folks you do the math: 36 divided by 42, what do you get?

This is a cheap shot, hoping you do not do the math & rely on BOB's false claims.
Click to expand...

You're OOC.

And this thread and the past oil thread and top tier gas thread are a waste of space.

That being said I'm done here.
 
BrutalNoodle sorry you paid more than the fair "reasonable" price.

As stated repeatedly, this is not what all will pay, differences occur, nor does it account for prices in all circumstances

Reasonable price prediction is: $brent/42 + $1.00. Argue away, it's historically & statically significant fact, whether you accept or...
________________________

Bob please explain post #5 emoticon, & what you are trying to convey!

Seems like a cheap shot, intended to discredit, using lies, & the hope nobody checks your results!
 
Ricorocks said:
Care to explain?



those emoticons showed, or tried to display a LIE

Folks you do the math: 36 divided by 42, what do you get?

This is a cheap shot, hoping you do not do the math & rely on BOB's false claims.
Click to expand...

What you get is $.857 per GALLON, not per BARREL as you stated, and Bob was trying to point out. You're welcome.
 
Ricorocks said:
BrutalNoodle sorry you paid more than the fair "reasonable" price.

As stated repeatedly, this is not what all will pay, differences occur, nor does it account for prices in all circumstances
Click to expand...

Yeah, that's how it is in SF/Bay Area. It's expected. I'm just happy we're not dealing with high $4 to $5 per gal from not too long ago. The extra salt is the craptastic 91 oct. :laughing:
 
Let's try again (friendly):

Incorrect calculations, math, are not now or in the future,valid argument(s) regardless of fame or likability.
 
Ricorocks said:
Let's try again (friendly):

Incorrect calculations, math, are not now or in the future,valid argument(s) regardless of fame or likability.
Click to expand...

I really have no idea what you are talking about, from what I could see, you did a calculation, the math was correct, you had incorrect units in your result, and Bob pointed that out.
 
Yeaaah... $1.00 dollar per gallon does not account for all of the costs associated with taking 1 gallon of a barrel of oil and making a refined product. 1 Barrel of oil does not gross 42 gallons of gasoline. It's usually nets closer to 19-21 depending on the efficiency of the refinery.
 
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