When Fuel Was Even Cheaper Than Today

Discussion in 'The Bench' started by flynbuick, Mar 5, 2020.

  1. flynbuick

    flynbuick Guest

    I saw plenty of regular for 11-13 cents a gallon during the late 50s so called gas wars. Around 70 it stayed 30 for regular and 32 for Hi-Test quite a while.
     
    kowalski likes this.
  2. Guy Parquette

    Guy Parquette Platinum Level Contributor

    Did I hear right this morning on the radio? A barrel of crude oil is down to $43.00?!
     
    kowalski and Mike B in SC like this.
  3. Chi-Town67

    Chi-Town67 Gold Level Contributor

    Back in '72 I worked at a gas station and regular gas was 33 cents a gallon. One day the price shot up to 35 cents per gallon and boy 'o boy did that create some anger. Most everyone that came in that day was moanin' about the 2 cent price increase. "Sorry sir, I don't set the prices....I just work here" was my reply. These days prices generally increase by 40 to 60 cents and then usually decrease a couple cents incrementally until it gets back to pretty much where the price increase started.
     
    kowalski likes this.
  4. newmexguy

    newmexguy Well-Known Member

    Would not be surprised. Reduced demand in Asia due to Corona Virus may be the main reason. Hydraulic fracking in the permian basin is also flooding the market with supplies. Several Circle K's in El Paso, TX show cash prices for Unleaded Regular @ $1.89 currently. Still too high, imho. Go to Carlsbad (New Mexico) quite frequently for work, it is beginning to tail off, just a bit, in terms of opportunities and hiring.
     
  5. Mister T

    Mister T Just truckin' around

    In 1975 I could to fill up my 71 Mach 1 with premium for less than $10.00 when the tank was empty. It held 16 Canadian gallons. I held 2 jobs back then, one to pay for the car, the other to pay for the gas. :D:D Yes, I drove that car a lot!!
     
  6. flynbuick

    flynbuick Guest

    If you were financing muscle cars in the late 60s, your insurance premium was so relatively large that it also had to be financed and rolled into the same payment.
     
  7. Mister T

    Mister T Just truckin' around

    Where I live, insurance wasn't expensive for muscle cars at the time. It was "not for profit" government owned and run. My annual plate fees and insurance premium for that Mach 1 was somewhere around $150.00. :D:D

    Eventually the government figured they were losing money on muscle cars. :p:p So they created an insurance premium on your driver's license, which remains to this day. It also allows for bad drivers to be assessed higher premiums for their poor driving habits.
     
  8. flynbuick

    flynbuick Guest

    As if this morning our local fuel price dipped to $1.70 a gallon. When adjusted for inflation, it is now cheaper than 21 cents per gallon was in the mid 60s.
     
  9. Fox's Den

    Fox's Den 355Xrs

    Oil dropped to 32$ a barrel this morning was 43 on Friday
     
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  10. Guy Parquette

    Guy Parquette Platinum Level Contributor

    wow
     
    Last edited: Mar 11, 2020
  11. newmexguy

    newmexguy Well-Known Member

    The Saudis and Russians are apparently starting a price war/market share battle. That what I read on a trader website yesterday. The Saudis likely are one of the few who can simply up their production over 10 million barrels / day without breaking a sweat. They don't have to frack, but simply drill a vertical hole and the result is a high quality light crude.
     
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  12. BQUICK

    BQUICK Gold Level Contributor

    My son paid 3.79 yesterday for 91 in LA....gouging big time
     
  13. Fox's Den

    Fox's Den 355Xrs

    That race gas won't be no cheaper though :( It used to be 3$ a gal now it is 8$ at least.

    Somewhere in Cleve. it was in the 1.50 range just heard that on news.

    The oil had dropped to 28$ a barrel then recovered some.
     
    Mark Demko likes this.
  14. TexasT

    TexasT Texas, where are you from

    If you are a buy and hold kinda person, those oil related stocks are taking a hit and ripe if they can stay afloat until the next boom. And ExxonMobil will make money either way as they have the market pretty well covered with little debt.
     
  15. Buickstaged

    Buickstaged The stable - 2204 Combined HP

    In 68 or 69, worked at a Metro 500 in Minneapolis. $.17 p/gallon and you got a free Qt of oil with a fill up. My 67 RS/SS Camaro loved that fuel... b
     
  16. flynbuick

    flynbuick Guest

  17. flynbuick

    flynbuick Guest

  18. flynbuick

    flynbuick Guest

  19. flynbuick

    flynbuick Guest

  20. flynbuick

    flynbuick Guest

    upload_2020-4-12_14-54-51.jpeg

    Billy "Big Deal" "Kid Goat" Jacobs in The Mountain Goat Dodge.
     
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