Oldgas.com Home  
Home | Help | Events | Auctions | Parts | Pictures | Contact
Previous Thread
Next Thread
Print Thread
Page 1 of 2 1 2
Price of Oil Below $8.00
#747360 Mon Apr 20 2020 10:49 AM
Joined: Dec 2003
Posts: 3,491
Likes: 6
Alex Offline OP
Veteran Member
OP Offline
Veteran Member
Joined: Dec 2003
Posts: 3,491
Likes: 6
I don't want this to become political....just did some quick math on the price of gas and inflation. When I got out of college in 79 gas was about $1.00 a gallon. That same dollar today has the buying power of about $3.56, or about twice what a gallon of gas is around here now. That means that gas at $1.80 is about the equivalent of $.50 cents in 79....or about $.42 in 77. In 77 I was paying about .50 a gallon. So we are paying "less" for gas than in 77. So, for all us gas guys who have said, "I wish the price of gas is the same as I have found displayed on old pumps"....we are about there. My son is a petroleum engineer in the Baaken in North Dakota. Lots of wells have been "shut-in. Storage is maxed out, people aren't driving as much and the oil wars in the Middle East...lots of lost jobs in the US and Canada.....

Texaco Pricer Sign 3 Oldgas.jpg

Alex
Looking for Texaco and Power Gasoline items
Please use For Sale forums to sell

Please - NO offers to Buy or Sell in this forum category

Statements such as, "I'm thinking about selling this." are considered an offer to sell.
Re: Price of Oil Below $8.00
Alex #747361 Mon Apr 20 2020 11:20 AM
Joined: Mar 2015
Posts: 594
Likes: 6
Petro Enthusiast
Offline
Petro Enthusiast
Joined: Mar 2015
Posts: 594
Likes: 6
I remember “gas lines” in the late 70s. We lived in Argentina for a few years and saw gas lines there. This is of courses is the opposite effect. There was an article on Fox News where the author spoke of the possible demise of one or more gas companies in this mess we are in. These are, without a doubt, unusual times we are living in.

Re: Price of Oil Below $8.00
Alex #747362 Mon Apr 20 2020 11:45 AM
Joined: Dec 2003
Posts: 3,491
Likes: 6
Alex Offline OP
Veteran Member
OP Offline
Veteran Member
Joined: Dec 2003
Posts: 3,491
Likes: 6
Just hit $2.50.....
We didn't have much for lines at the stations in Montana...but, it sure wiped out a bunch of as stations that provided full service and mechanical service.


Alex
Looking for Texaco and Power Gasoline items
Re: Price of Oil Below $8.00
Alex #747363 Mon Apr 20 2020 11:46 AM
Joined: Dec 2003
Posts: 3,491
Likes: 6
Alex Offline OP
Veteran Member
OP Offline
Veteran Member
Joined: Dec 2003
Posts: 3,491
Likes: 6
$1.15


Alex
Looking for Texaco and Power Gasoline items
Re: Price of Oil Below $8.00
Alex #747366 Mon Apr 20 2020 11:54 AM
Joined: May 2009
Posts: 610
T
Petro Enthusiast
Offline
Petro Enthusiast
T
Joined: May 2009
Posts: 610
I have the same sign , Mine is 34 and 38 Cents , Gas pump is still set on 28 Cents, The oil lubester is 25 Cents per Quart .



Sid

Gas pump Woodland.jpg

www.trifivechevys.com
www.knifegates.com

Looking to buy Sealed Power Piston rings ITEM's
Re: Price of Oil Below $8.00
Alex #747367 Mon Apr 20 2020 12:01 PM
Joined: Nov 2000
Posts: 7,791
Likes: 2
J
Veteran Member
Offline
Veteran Member
J
Joined: Nov 2000
Posts: 7,791
Likes: 2
My memory of the good old 70s was I was one of those Shell dealers that was selling gasoline for $.42 a gallon and making $.03 per gallon or $.24 per 8 gallons (because every body bought 8 gallons so they could get the giveaway that I was also paying for). When the independents went to $.29 a gallon and we dropped our price I was making only $.01 per gallon and the customers still expected us to clean their windshield, check the air in the tires and give them that glass.

Not the days I like to be reminded of.

Jack Sim

Last edited by Jack Sim; Mon Apr 20 2020 12:05 PM.

Author, 1st & 2nd editions of Gas Pump ID book, 3rd edition is now available at www.gaspumpbible.com
Air Meter ID book also available
Re: Price of Oil Below $8.00
Alex #747368 Mon Apr 20 2020 12:06 PM
Joined: Dec 2003
Posts: 3,491
Likes: 6
Alex Offline OP
Veteran Member
OP Offline
Veteran Member
Joined: Dec 2003
Posts: 3,491
Likes: 6
.90.....

Back in the 90s I was working with a medium sized (for Montana) oil and gas distributor and they told me they made more profit from the 32 ounce pop/soda dispenser in the convenience store than they did from a full ank of gas....


Alex
Looking for Texaco and Power Gasoline items
Re: Price of Oil Below $8.00
trifiver #747369 Mon Apr 20 2020 12:08 PM
Joined: Dec 2003
Posts: 3,491
Likes: 6
Alex Offline OP
Veteran Member
OP Offline
Veteran Member
Joined: Dec 2003
Posts: 3,491
Likes: 6
Sid: I may have to raise my prices.....LOL


Alex
Looking for Texaco and Power Gasoline items
Re: Price of Oil Below $8.00
Alex #747371 Mon Apr 20 2020 12:54 PM
Joined: May 2016
Posts: 520
Likes: 25
Petro Enthusiast
Offline
Petro Enthusiast
Joined: May 2016
Posts: 520
Likes: 25
It's hard to believe that these same gas companies that were making BILLIONS in profits back in the great recession in 2008-2010 didn't hoard some of that cash to cover times like this. Anyone in that industry knows it's very cyclical....high highs and really low lows.


Brian H
2 members like this: JimT, garyh
Re: Price of Oil Below $8.00
Alex #747372 Mon Apr 20 2020 01:17 PM
Joined: Sep 2007
Posts: 2,540
Likes: 14
D
Veteran Member
Offline
Veteran Member
D
Joined: Sep 2007
Posts: 2,540
Likes: 14
Gas has been around $1.19 in the Hillsdale, MI area lately.....almost down to the .95 cents a gallon I paid in high school in the early 90's. I think occasionally it was in the higher .80 cents per gallon back then too...I just know my $20 weekly allowance bought a tank of gas in my Olds Cutlass Supreme and some food at McD's.
Darin


Darin Sheffer
Always looking for Mobil items I don't already have!
Re: Price of Oil Below $8.00
Alex #747373 Mon Apr 20 2020 01:23 PM
Joined: Dec 2003
Posts: 3,491
Likes: 6
Alex Offline OP
Veteran Member
OP Offline
Veteran Member
Joined: Dec 2003
Posts: 3,491
Likes: 6
Negative $35.....We should all remember this day...and in 20 years we can say, "Remember when...?" And I will say, "Remember what?"....I sent a negative oi headline to my petroleum engineer son and suggested he print ig and frame it for his office so when he is my age he can tell the new engineers about "back in the day." Hang in there everyone....


Alex
Looking for Texaco and Power Gasoline items
Re: Price of Oil Below $8.00
Alex #747431 Tue Apr 21 2020 02:41 PM
Joined: Nov 2012
Posts: 1,592
Likes: 10
Veteran Member
Offline
Veteran Member
Joined: Nov 2012
Posts: 1,592
Likes: 10
Down to $13 a barrel, internationally, today! Hopefully we see sub-$1 per gallon around here, even with the $.54 cents per gallon Washington tax...


LOOKING-4:WELDING SIGNS,Charter/Finance/PulOil/Trulite/TruTest-Oils,True's gas CORALINE/RAINBOW, Gardner 70 items of Yakima wa., Wa/Or/Id Chief items
Re: Price of Oil Below $8.00
Alex #747432 Tue Apr 21 2020 02:43 PM
Joined: Jan 2009
Posts: 5,736
Likes: 11
C
Veteran Member
Offline
Veteran Member
C
Joined: Jan 2009
Posts: 5,736
Likes: 11
News has it that all the tankers are full, the oil farms, the national reserve. Now where do they put it.


Craig
Re: Price of Oil Below $8.00
Craig Osbeck #747440 Tue Apr 21 2020 04:47 PM
Joined: Feb 2014
Posts: 2,315
Likes: 27
Veteran Member
Offline
Veteran Member
Joined: Feb 2014
Posts: 2,315
Likes: 27
Originally Posted by Craig Osbeck
News has it that all the tankers are full, the oil farms, the national reserve. Now where do they put it.
I heard that too. Gas refineries want to buy buy buy (cheap) for their future reserves, but no where to put it.

I just paid $1.79 for gas, but I think it was $1.54 a few days ago.


-Steve B. (WTB: 48" Flying A button, 48" black/org Phillips 66, White Star, and Chevrolet Signs. Also looking for a Wayne 866. Send a PM. Thanks.)
Re: Price of Oil Below $8.00
Alex #748008 Fri May 01 2020 09:54 PM
Joined: Apr 2011
Posts: 69
G
Active Member
Offline
Active Member
G
Joined: Apr 2011
Posts: 69
Gas is 1.33 In Nashville,Tn. today

Page 1 of 2 1 2

Moderated by  Oldgas, Ryan Underthun, Watchdog9 

Link Copied to Clipboard

Click for an eBay Search Form and lots more live petro auction listings

Copyright © 2020Primarily Petroliana Interactive, All Rights Reserved

Powered by UBB.threads™ PHP Forum Software 7.7.4