Overseas Chinese Web Guide

Tag: gasoline

  • Pump Up the Volume in the Morning

    gasoline

    The next time you fill-up, take a look at some of the warning labels affixed to the gasoline pump. I saw the above label recently while purchasing gas from Costco.

    This device dispenses gasoline solely by volume measured in standard gallons (231 cubic inches). It does not adjust for temperature or other factors which may affect the energy content of each gallon dispensed.

    Makes sense. Obviously, if you purchase gasoline in the morning, each gallon of gasoline would presumably be denser because of the cooler temperature. I was going to research this issue, but Snopes had already beat me to it.

  • Gasoline Prices

    Strangest sight this morning. I had to fill up this morning, so I stopped at a gasoline station before heading to work. So, I took one path that takes me past an intersection with three gasoline stations: ARCO, Shell and Chevron. I was just about to pull into the Shell because it was on the right side of the street when I suddenly acquired sticker shock. $2.43 per gallon? Did gasoline prices go back up? I quickly glanced at the other side of the street and spotted Chevron selling gasoline at $2.27 per gallon. Ordinarily, if an intersection has 3 gasoline stations, I would expect their prices to be roughly comparable. A few cents I can understand, but a 16 cent difference? Now, I have to figure out whether Shell is the laggard in lowering its prices or whether its the front runner in raising back up its prices. I like $2.27 per gallon. Saved me $40 for a full tank of gas from 5 months ago.

  • The Meaning of Gasoline Prices

    Five months ago, I had to pay $4.55 per gallon for regular unleaded at the local Valero gasoline station. At the time, gasoline prices were just 10% away from hitting the $5.00 per gallon mark. So, if I was offered a bet on whether gasoline prices would be over $5.00 or under $2.50 in five months, guess which way I would have wagered? However, here we are in the middle of November and regular unleaded is $2.35 per gallon. So, what does this all mean?

    Right now, I am not sure. Was it oil speculators that previously drove up the price of gasoline? Or, is the economy that badly off to dry up demand for gasoline? In some parts of the Bay Area, the signs of the real estate deflation are obvious. However, in other cities, housing prices remain pricey. I always thought demand for gasoline was relatively inelastic. Everyone has to drive, right? However, if the demand for gasoline is true off kilter, then we are all headed for trouble times, regardless of which neighborhood we live in.

  • Pain Pain Go Away

    The Los Angeles Times is reporting that China will be increasing retail gas prices on Friday by 16%. The last time China had increased retail fuel prices was in November. A one day 16% price hike sounds steep; however, consider that prices have been stable for the prior seven months. I last saw $3.99 gas just before the Memorial Day weekend. A month later, we’re around $4.60, or a 15% increase. I would like to take my 15% retroactive to last November as well, please.

    I have no idea whether these increases in gas prices are caused by financial speculators, rising global demand or constrained gasoline supplies. Regardless, these price shocks do alter the calculation for determining the break-even point for investing in solar energy and other green technologies.

  • Gasoline Tipping Point

    I finally reached the tipping point. Since I biked to work yesterday and stayed up late, I really wanted to drive a car into work today. Kind of like a day off between going to the gym to allow the muscles to relax and recover. However, as I headed out the door, the thought of paying $90 for a fill-up made me head back into the house, put on my fluorescent yellow biking jacket, pick up my helmet and head off on my bike. Saving the environment or preventing climate change in the far off distant future is one thing. Keeping those precious dollars in my pocket right now is another.

    This ties in with a post on the Consumer Reports Money Blog I spotted a few months ago about banning the $100 bill. My opinion? The $100 bill is the new $20. I used to be able to fill up the gas tank with a $20. Of course, gasoline was 99 cents a gallon back then. However, nowadays, I need a $100 bill to guarantee a complete fill-up. The thing is, in the above photo, the gasoline tank wasn’t completely empty. If I needed to squeeze in two more gallons, I would have pushed it to the century mark. Yikes!