Current gas prices in your area? / Oil News

[V35]

Since everyone is posting memes…

 

[Denver the Last Dinosaur]

 

[fliplover]

The US national avg for a gal of gas is now officially above $4

https://apple.news/AWoxtMYgfTjSC1-1eF2LMLA

However, with inflation, it still need to avg $5 gal to equal the peak price in 2008.

I hear that rationale all the time. The problem is, my paycheck never goes up at the rate of inflation.

 

[Dotson]

I hear that rationale all the time. The problem is, my paycheck never goes up at the rate of inflation.

I agree, wages don't always increase at the rate of inflation. But the fact is the dollar doesn't go as far it used to.

This nifty chart factors in inflation and gas mileage of vehicles. We have a ways to go before we hit 2008 levels. https://www.marketwatch.com/story/t...gher-for-most-of-the-past-century-11646770318

 

[Denver the Last Dinosaur]

I agree, wages don't always increase at the rate of inflation.

Unless you're in management, in which case your wage increases are the cause of "inflation".

 

[Donalex]

Everyone is ignoring the marked increase in MPG when comparing fuel costs since the last record high.

Higher MPG, higher wages...in the correct context, it's not that bad.

 

[Denver the Last Dinosaur]

^ Dotson's chart above does specifically say "factors in inflation and gas mileage of vehicles."

But the flip side is those of us who keep our cars for longer. The MPG on my car is still the same as it was 20 years ago (more likely slightly worse due to engine wear, etc.). Plus, being self-employed, my "wages" haven't changed at all.

 

[DevonK]

Gas prices here are like house prices in Toronto these days: "If you have to ask....". The average townhouse price here went up 33% in one year.

And if gas prices stay high, the cost of long commutes will skyrocket, which will put further upwards pressure on Toronto home prices.

 

[FBD]

right now it is $2.27 Canadian per Litre for premium (what a Zed takes). $2.27 x 3.785 (1 US liquid Gallon) =
$8.59 Gallon CAD funds

Now, there is no sense in converting this into US Funds because we all live where we live and our wages are what they are. Unless you live near a border and run over to get gas in the US (which we used to do). So these are getting to be high prices.

Having said that, paying 800k-1M for a crappy two bedroom apartment here makes these gas prices look cheap.

 

[FBD]

Gas prices here are like house prices in Toronto these days: "If you have to ask....". The average townhouse price here went up 33% in one year.

And if gas prices stay high, the cost of long commutes will skyrocket, which will put further upwards pressure on Toronto home prices.

You and I just went to the same place. Can't afford a townhouse here. They start at about 2M dt. And if you go out of the 20 min you are still paying 1.5M. And they are small.

 

[West Aussie]

Gas prices here are like house prices in Toronto these days: "If you have to ask....". The average townhouse price here went up 33% in one year.

And if gas prices stay high, the cost of long commutes will skyrocket, which will put further upwards pressure on Toronto home prices.

Australia. Is no different, here where I live in WA some houses have gone up 52% in a year …it’s crazy, but it will collapse at some stage then there is going to be a lot of people in a world of pain

 

[DevonK]

Immigration into the Toronto area is so ferocious I don't see much downside risk on home pricing here barring a world-level depression. My condo has gone up about 350% in 15 years. And so has traffic lol.

 

[Denver the Last Dinosaur]

And if gas prices stay high, the cost of long commutes will skyrocket, which will put further upwards pressure on Toronto home prices.

Not just house prices. Delivery and transport prices will obviously have to go up to cover the increased petrol cost, which in turn means increasing prices for everything - post, groceries, bus fares, etc. Even non-delivered products and services will have to increase their prices (for example, electricity companies will have to cover the extra cost of their repair crews driving around).

Then everyone will want a pay rise to be able to pay for the things they need, which means the prices of products and services will have to rise again ... and the whole snowball of "inflation" keeps rolling around and around, growing bigger and bigger.

 

[takemorepills]

Immigration into the Toronto area is so ferocious I don't see much downside risk on home pricing here barring a world-level depression. My condo has gone up about 350% in 15 years. And so has traffic lol.

Our home went up 300% in 10 years.

So many people are locked out of the market, only those of us "in the game" already can consider buying a different home.

I'm usually not one to advocate for the generation below mine, I like to think they're a bunch of coddled wussies, but I definitely don't think this housing market is "fair" to them.

 

[ZZ2022]

i wish you guys in the US would hurry up and just start using the metric system lol