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Automotive News & Views How does gas at $4 and higher impact you?
2183 messages, Last post on Nov 21, 2009 at 5:13 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: gagrice (Sep 11, 2008 11:25 am) Most people don't itemize car expenses as it is way to cumbersome to do and just take a standard mileage rate. |
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about this economic downturn, is that all of a sudden, the money I'm blowing on my heat pump and electrical upgrades to the house is suddenly a drop in the bucket compared to how much my investments have dropped!  Oh, and I noticed on the way in to work, gas prices ticked up a bit. The local Shell had 87 for $3.719 and 93 for $3.949. Just yesterday they were $3.689 and $3.899. Not an economically back-breaking jump, but coupled with yesterday's stock market, just an extra slap in the face. |
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Oil is kissing $91 a barrel this morning and wholesale gas is down another 8 cents (down over 30 cents in the last two days). With news like that I would expect to see the price at my local station go UP 15 cents today. 
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Replying to: fintail (Sep 15, 2008 2:44 pm)
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Replying to: oldfarmer50 (Sep 15, 2008 1:58 pm) Well, yes in fact. All the biggies should be unaffected. The independents buy surplus gas on the spot. Right now either there is no surplus or it is only available at an extremely high wholesale rate, higher than than the retail price being charged by Exxon and other similar places.
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Replying to: lemmer (Sep 15, 2008 1:14 pm) The financial difficulties we're now seeing are about financial stocks - including many BANKS. So the problem isn't just whether you own stocks. The potential problem is bank failures, and a domino effect. And when more banks than normal fail - say after the 10th one, the FDIC runs out of $ to repay you. So your bank could be closed, and the FDIC is broke, and the federal government steps in and refinances the FDIC, and gets you your savings/checking money, but maybe 2 months later. Best advice today is not to keep too much $ in any one account or bank. Good advice right now is: split your $ amongst 5 banks. Gas will seem a lot more than $4/gal if you can't get to your $. |
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Prices at my local station dropped 2 cents yesterday. I filled up my car at lunchtime for $3.579. Last night, I took my wife's SUV to the same station - price was $3.559. Because the station is affiliated with a grocery store chain, I was able to save $.10/gal on each purchase. Still cost me over $90 to fill both vehicles, though. Does anybody think that we'll see prices below $3/gal? With oil trading at $90/bbl and trending down, it seems to me that this may be the case in some parts of the country (NJ?) |
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Replying to: snakeweasel (Sep 15, 2008 6:54 pm) I won't bore everybody with the research, but that isn't a cut and dried issue. Illegal activity expenses are often deductible. Mr. Weasel is correct that bribes that are clearly illegal are not deductible. In any case, the IRS always prefers that you pay taxes on income, legal or not. |
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Replying to: lemko (Sep 16, 2008 5:15 am) Well one way I think I'll cut back on expenses is next year, on the car show circuits, I'll forego attending the GM show or the Chrysler show at Carlisle, but just to get my fix, I'll borrow my uncle's '03 Corolla and enter it in the Import Car show! 
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Replying to: andre1969 (Sep 16, 2008 5:42 am)
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