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Gasoline; How Low Will It Go?

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  • Gasoline; How Low Will It Go?

    I bought gas the past two times for $1.49, and $1.47. Cannot recall the last time its been this low. Dunno why I even bothered to calculate the MPG when I gassed up the 56J (20 MPG). Just a habit, I guess.

  • #2
    I don't watch the price of oil closely, but the other day I noticed the price had gone up from last week. Supply and demand will figure it out. Now Iran will be adding their oil to the market, so I'd expect the price to stay low until production is lowered. Bill

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    • #3
      I'd rather be driving my Studebaker!

      sigpic

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      • #4
        A high school buddy of mine father opened a Tydol gas station in 1929. Tydol regular was selling for 11.9 and the super Ethel was selling for 19.9
        Wonder how that would translate into today's dollars?
        sigpic1957 Packard Clipper Country Sedan

        "There's nothing stronger than the heart of a volunteer"
        Lt. Col. Jimmy Doolittle
        "I have a great memory for forgetting things" Number 1 son, Lee Chan

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        • #5
          To us here in the Northwest our current $1.83 for 10% Ethanol laced Regular 87, is lower than it has been in one VERY long time, probably since late 1960's or early 1970's before the '73-'74 First Oil Shortage Crisis".
          StudeRich
          Second Generation Stude Driver,
          Proud '54 Starliner Owner

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          • #6
            Originally posted by JoeHall View Post
            I bought gas the past two times for $1.49, and $1.47. Cannot recall the last time its been this low. Dunno why I even bothered to calculate the MPG when I gassed up the 56J (20 MPG). Just a habit, I guess.
            I remember $1.20 per gal gas back in 2002 in at the International Meet...

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            • #7
              I always seem to have the wrong car for the time. I remember in '98 or '99 gas was down to .86 cents a gallon. Of course at the time I had a 1992 Suzuki Swift that got 40 MPG. When gas was up around $4.00 a gallon I had a 2001 Ford Ranger that averaged around 17-19 MPG's. I forget what it was in 1980 when I got my drivers license. I'm sure it was well south of a dollar.
              Tom - Bradenton, FL

              1964 Studebaker Daytona - 289 4V, 4-Speed (Cost To Date: $2514.10)
              1964 Studebaker Commander - 170 1V, 3-Speed w/OD

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              • #8
                It's too low already! The infrastructure taxes from gasoline is needed now more than ever.
                Bez Auto Alchemy
                573-318-8948
                http://bezautoalchemy.com


                "Don't believe every internet quote" Abe Lincoln

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                • #9
                  That is what I paid also in 1974 and could fill up my 1970 Hornet for $4.50. Of course, as an E-4 in the Air Force with pro pay my monthly income was $444.00 a month, when I finished a TDY in Saigon.
                  Our gas in Tucson is $1.43.

                  The one thing I don't understand is that some of the price of a barrel is also based on oil futures and the mix does not always translate to what the price of a barrel is in relation to what we pay at the pump.

                  Bob Miles
                  Tucson AZ
                  Home of Lazarus

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                  • #10
                    I paid 1.89 for diesel in Mishawaka in. last Sunday.

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                    • #11
                      Originally posted by bezhawk View Post
                      It's too low already! The infrastructure taxes from gasoline is needed now more than ever.
                      Here in California the taxes stay the same regardless of the price (less the sales tax which is related to price). And those taxes contribute to our best price ($2.59 this week) being so high. On top of that the powers that be now wants to tax us by the mile because with cars currently getting such great mileage they are using less gas and thus less taxes. Of course these are the same people that demanded high MPG cars, electric cars and public transportation. So, we either paid more at the point of purchase or funded (In part) with tax dollars these mean by which less gas was used. And, now they want us to pay (again) for the problem they created and we funded.
                      '64 Lark Type, powered by '85 Corvette L-98 (carburetor), 700R4, - CASO to the Max.

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                      • #12
                        Brad---Wittsend is correct. Fuel taxes are the same no matter what the price. It's based on a per-gallon figure. Federal taxes are the same, but each state might be different in what they charge. When I was in the antique auto transport business I had to submit a tax report every 90 days detailing how much I owed to each state in fuel taxes. It was part of being licensed to operate in interstate commerce and was part of the International Fuel Tax Agreement. Tom

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                        • #13
                          Actually, lower prices at the pump should promote more travel which in turn means more taxes. Win-win all around.

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                          • #14
                            CT has high taxes on fuel. $1.829 for regular (ethanol) today at BJ's. My best gas deal was in the early 50's. I worked part-time at the sign of the Big Red Horse (Mobil). The price was $.219 and I received a two cent discount! $.199 per gal. was nice.
                            "Growing old is mandatory, but growing up is optional." author unknown

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                            • #15
                              I paid $1.78 today at a Speedway station here on Long Island. Our gas prices tend to be higher than elsewhere due to the taxes on each gallon. The price I paid today is the lowest I've paid in many years. I know it's not going to continue, but I'll enjoy it while it lasts.
                              Rog
                              '59 Lark VI Regal Hardtop
                              Smithtown,NY
                              Recording Secretary, Long Island Studebaker Club

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