Replies to post #83314 on Mohacsy's Safe Portfolio Member Forum

[Elroy Jetson]

I paid $3.08 a gallon for four gallons of gas yesterday at out local Chevron.

But that was primarily to get an automated car wash as is common in Europe and Australia. All of our cheap car washes manned by immigrants are closed for now - my favorite closed permanently as it's becoming a new development.


You can get gas in Los Angeles for $2.66, which is a buck lower than normal, but Chevron has been able to hold the line on prices pretty well in their primary market region. They're just not selling much.

[cgavin5]

No surprise there. I stated the same observation to my girlfriend last week. Figuring it's either the franchise gas station owners or edicts by oil companies to (price fix) keep gasoline prices higher. Certainly can count on more taxes at the pump going forward too. Big price inflation coming after this recession.

Maybe a bit of good old 70's stagflation. After all's said and done can interest rate increases be that far behind in this scenario? That's going to be much further out, but possible.

P.S.- out of DOw at $36.90- 0% gain/loss.

Not happy with price action. No point in cost averaging. Cash is still king. Buy and sell with quick profits still the method of conservative choice.

[trkyhntr]

I did a quick check on our gas price here in PA, and it has fallen by about $1/gal. What has not fallen is the tax per gallon, which remains at 77 cents per.

[Elroy Jetson]

Retail Fuel Prices Haven't Fallen Like Oil Prices

Chevron's net income was $3.6 billion, rising 36% from a year earlier - $1.93 a share, up from $1.39 a share a year ago.


The west coast is not connected to the rest of the US by any crude oil pipeline, so the cut rate oil contagion can't spread.

Owning refineries means Chevron buys their own crude oil and natural gas and continues to sell on long-term contracts while other west coast refineries have shut down for the duration.


When I go to a local Chevron station and pay $3.08 per gallon for gasoline, I know all is well with CVX shares, earning and dividend.


CVX and IRM. I like them both. I don't know ABBV as intimately but it seems similar, finally freed from ABT whose management I dislike.