Sound Off on Current Diesel Price

I just drove by my local Shell station and the price went up 4 cents a gallon. I'm glad I was able to fill up a couple days ago. Looks like my last 3 fill ups that were getting consecutively cheaper, has finally ended .

3.45 at the local Fred Meyer in Oregon City this afternoon. Prices seem to be staying down here - at least for now. (and still lower than RUG - by 2 cents)

Week ago Chevron @ $3.59 vs Arco @ $3.69 in SoCal desert, Yucca Valley.

My thoughts are if the speculators manipulate my diesel prices they should be taxed for each and every transaction. You make money of messing with my prices and you pay your fair share!

turborod said:

My thoughts are if the speculators manipulate my diesel prices they should be taxed for each and every transaction. You make money of messing with my prices and you pay your fair share!

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Would you tax the short sellers the same as the the long speculators? If so, why, since their trades cumulatively lower the price?

Would you tax all commodity trades, or just trades in heating oil?

Would this tax be small enough to be inconsequential, or big enough to discourage trading and thus reduce market liquidity?

it's running $ 3.69 in Apple valley and anybody with a smart phone can check as you drive gasbuddy.com work's awesome as you travel

Price of Gasolio

On Long Island, i pay 3.79 USD per gallon. that's in the town of MAssapequa. I see it from 3,69 to 4,19 per gallon

turborod said:

My thoughts are if the speculators manipulate my diesel prices they should be taxed for each and every transaction. You make money of messing with my prices and you pay your fair share!

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TornadoRed said:

Would you tax the short sellers the same as the the long speculators? If so, why, since their trades cumulatively lower the price?

Would you tax all commodity trades, or just trades in heating oil?

Would this tax be small enough to be inconsequential, or big enough to discourage trading and thus reduce market liquidity?

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In the US: Any and all trades are taxed and short term and long term are already taxed differently. For those paying in the 28% tax braket: Short term gains (less than 1 year) are taxed at 28% while long term gains (1 year) are taxed at 15%. It seems that most commodity traders are on the short side, so they are already paying an extra 13% in taxes.

3.66/gal for dino diesel while it is 3.25 for reg unleaded. Pretty consistent from here to KC, MO

CT Diesel Tax

Oh joy! Connecticut now has the honor of having the highest tax on diesel in the nation. As of July 1st, it's now 56.2 cents/gallon, which is on top of the 24.4 cents/gallon the Feds rob from me. I just might have to find a station over the border in NY State to save 7 cents/gallon.

Rug and B15 are holding around here. $2.99 for rug and $3.45 for B15. Not sure what the price of diesel is since I've been using gasoline in my passat and truck and Loves has some of the cheapest rug but only has biodiesel now.

Filled up the other day for $1.16 per litre.

please forgive the newb question, but what does rug stand for, i kinda figured out by dumb logic that its a grade of fuel, but im not familiar with rug...

noxneon said:

please forgive the newb question, but what does rug stand for, i kinda figured out by dumb logic that its a grade of fuel, but im not familiar with rug...

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Regular unleaded. Typically the lowest of octane levels (87)


$3.59 for diesel yesterday in Culver City, 3 cents cheaper the regular...

NukeIT said:

Regular unleaded. Typically the lowest of octane levels (87)


$3.59 for diesel yesterday in Culver City, 3 cents cheaper the regular...

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Unless you are in the higher altitude above 3,500 ft mountain west where it, RUG can stand for unleaded gas with a octane of 85 or 83 ( at higher altitudes above 6,500 ft ). But I haven't seen any 83 in a few years in the Colorado region. The higher up you go the lower the octane is needed, so 85 is RUG, 87 is MID, 89-91 is Prem.....

Not sure about the diesel but rug jumped by about 4 cents here today.

I just topped up for $3.589 earlier this evening. But where most stations around the Twin Cities were charging $3.59-3.69, today I was seeing a lot of stations charging $3.75 and $3.79 and even $3.85.

I don't know what is happening with gas prices. I don't pay much attention and I don't post them on Gas Buddy.

GasBuddy isn't a very accurate tool for anything but regular unleaded, but the overall pricing trends you can spot with their sites can be useful.

I topped up this evening for $3.499; diesel has crept up a few cents over the last few days and this was the only holdout still offering this price point for credit.

A Texaco on the beach express bypass today jumped from $3.499 to $3.799 so I'll admit it spooked me a bit.

rotarykid said:

Unless you are in the higher altitude above 3,500 ft mountain west where it, RUG can stand for unleaded gas with a octane of 85 or 83 ( at higher altitudes above 6,500 ft ). But I haven't seen any 83 in a few years in the Colorado region. The higher up you go the lower the octane is needed, so 85 is RUG, 87 is MID, 89-91 is Prem.....

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Never really thought of it before but makes sense with the density Of the air being less...

Around here I only ever see 87, 89, and 91 tho.... So 87 is considered rug

Tom Servo said:

GasBuddy isn't a very accurate tool for anything but regular unleaded

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Seems to be pretty spot on for diesel in the LA area... Just depends on the number of people updating and how often

Tom Servo said:

GasBuddy isn't a very accurate tool for anything but regular unleaded, but the overall pricing trends you can spot with their sites can be useful.

I topped up this evening for $3.499; diesel has crept up a few cents over the last few days and this was the only holdout still offering this price point for credit.

A Texaco on the beach express bypass today jumped from $3.499 to $3.799 so I'll admit it spooked me a bit.

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Seems accurate for Annapolis area. If people do not update it then it msy not be.

In the Memphis TN / North Mississippi area I paid $3.39 two weeks ago. It is now up to about $3.41 to $3.45. It is cheaper the preimium gas in some places.

Just filled my jsw. B15 was $3.49 at Loves in ft mill. Price hasn't changed for three weeks. Rug is up 6 cents since Tuesday.

Drove by local Shell and D2 is up still another 4 cents/gallon. I'll be filling up next week some time at about 8 cents or more a gallon since my last fill up.

Here's something I was thinking about that I wanted to inject into the conversation. With the drought going on this summer, I was hearing that farmers may lose a third of the corn crop this year. With that shortfall, I see both food and gasoline prices going up in the next year or two. Food prices because of all the high fructose corn syrup used in many foods, and gasoline because there is so much gas that is blended to about 10% ethanol. I'm not sure how this is going to affect diesel prices, but it will definitely affect at least those other two areas.

lovemybug said:

Here's something I was thinking about that I wanted to inject into the conversation. With the drought going on this summer, I was hearing that farmers may lose a third of the corn crop this year. With that shortfall, I see both food and gasoline prices going up in the next year or two. Food prices because of all the high fructose corn syrup used in many foods, and gasoline because there is so much gas that is blended to about 10% ethanol. I'm not sure how this is going to affect diesel prices, but it will definitely affect at least those other two areas.

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Your concern is real. Corn futures for September 2012 are already up from $5.20/bushel to about $7.40 just since mid-June. The eastern Corn Belt is getting a little rain but the entire region needs several inches of rain if the corn crop is going to be even close to meeting our needs.

Soybeans are also higher, but not as much on a percentage basis. The critical period for them is August.

Wheat is up from about $6.40 in early June to about $8.50 now. A shortage of corn means a greater demand for wheat. Oats are also higher, though I think the oat harvest is over in some states and should be completed everywhere soon.

I am not too concerned about ethanol, except as it affects the price of the 86-proof drinking stuff. After corn is processed for ethanol, the remainder makes good feed for livestock. But those who raise cattle, hogs, and chickens will still have to pay higher prices; so we should expect higher prices at the grocery stores for bread, cereals, and meat.

I do not know what the crop conditions are elsewhere in the world. Europe has been getting plenty of rain, I think. And it is winter in the Southern Hemisphere.

Here we go again! Diesel unchanged but rug dropped 12 cents overnight. You should have seen the crowds fighting for position at one the stations just off I77.

It's nothing to do with fuel costs, but I wish a side effect of this corn problem would be that all our soft drinks go back to using real sugar instead of HFCS. The only time I really indulge in Coke is when I can find a deal on the 12 oz Mexican bottles.

My soft drinks use aspartame. Don't get me started.

Analysis: Rationing The Corn Crop – Are We There Yet?

an interesting article that delves into the serious nature of this drought as it affects the corn ethanol market


We calculate the mandated level for the 2012-13 corn marketing year at 13.6 billion gallons, which would require processing of about 4.9 billion bushels of corn. However, as noted in the discussion of assumption (7) part of that the mandate can be satisfied by accumulated RINS [renewable fuel credits] from production that exceeded the mandate the past two years.

We estimate that maximizing the use of those RINS suggests that a minimum of about 3.92 billion bushels of corn would be required to meet the mandate. Under the demand assumptions in this analysis, an average yield much below 130 bushels would not provide adequate corn supplies to meet the mandate even making full use of the available stock of RINS credits.

Such a situation would require more severe reductions in consumption in other categories (likely in feed use) or some partial waiver of the mandate.
http://agfax.com/2012/07/14/rationing-the-corn-crop-are-we-there-yet/


Okay, that analysis used last week's USDA data. This week the USDA is reporting that the corn crop is in even worse condition; instead of a nominal average of 150 bushels per acre, wide areas of the Corn Belt are expected to produce no more than 30-40 bushels per acre. At a certain point, the cost of harvesting would be greater than the value of the crop, after all expenses are calculated.

I did not catch the farmers location that they were interviewing on NBC on Monday night, but that was his comment. It will cost him more in diesel than he will make on the crop. He is trying to figure out the best time to chop it for silage.

D2 in Fort Mill today is $3.47 and rug is $3.07. Rug has really been bouncing this last week with about a 15 cent increase from Saturday to today and that followed at bump down of 7 cents about mid-week.