DakotaT
9 years ago
Still over $3 in North Dakota, the 2nd largest oil producing state in the US. A lot of corruption setting the prices in western North Dakota. Or as Texas would say, righteous achieving Americans showing the rest of us how business works.
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texaspackerbacker
9 years ago

Still over $3 in North Dakota, the 2nd largest oil producing state in the US. A lot of corruption setting the prices in western North Dakota. Or as Texas would say, righteous achieving Americans showing the rest of us how business works.

Originally Posted by: DakotaT 



Two theories on your higher prices:

1. higher state level taxes - the biggest reason for state to state differences - I suspect that is unlikely because you probably have conservatives/Republicans controlling your state government.

2. profiteering - I suppose kinda like you said - similar to Alaska in the gold rush or Texas in the oil boom or other economic booms. There is so much money suddenly in the economy that various local businesses can and do jack up prices. I bet your whorehouses are thriving with high prices too hahahahaha.

That's just a regional aberration, though. The national, actually worldwide market decrease is the puzzling thing - despite middle east ISIS problems, threats to pipelines in Ukraine, etc.




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If Anything I Say Smacks of Extremism, Please Tell Me EXACTLY What.
texaspackerbacker
9 years ago

Oh, and a bit of historical evidence probably only interesting to me:

Average price of gal of gas in 1982: $1.30.
Average price of gal of gas in 2013: $3.60.
Works out to an average annual increase of approximately 3.2%/year.
(price of gasoline doubles roughly every 23 years).

Cost of living (CPI, average consumer, excluding gasoline expenditures)(1982-1984 dollars) in 1982: 96.5
Same, but in 2013: 233.0
Works out to an average annual increase of approximately 2.8%/year.
(average cost of living doubles roughly every 26 years).

What would be really interesting would be to add to this story the increased productivity between 1982 and today that happened at the same time as this (IMO a lot smaller than most people think) increase in relative gas prices actually can be connected to. It's a more complicated computation, and I'm still not done with that grading, so I'm not going to do it (at least not now) but my gut feeling is that the benefits we've received from paying an additional 0.4% per year are a lot bigger than that.

Sources used to make calculations:
Gas prices:www.davemanuel.com/whatitcost.php
CPI: www.bls.gov

Originally Posted by: Wade 



Wade, it seems like you are saying that your figures show gasoline is a comparative bargain. Yes, I agree - and that is based on the 2013 price, which is a lot lower now.


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