Thoughts on today’s gas prices compared to way back when
To the editor:
Why am I writing about gas prices? Because today’s news is all about the high gas prices and my lifelong business career, starting 1958, was that of a salesman which in those past years required a lot of face time with customers and potential customers — mostly traveled by car and sometimes by plane as well.
All of those travels also included a careful accounting of expenses, for proper reimbursements, which eventually wind up in the selling prices of products and/or services, and of course those eternal tax records. The last twenty years or so of my sales experience was with these major petroleum marketers representing the brand names and convenience stores we know so well, and so I feel aptly qualified to comment on gas prices and travel costs — been there, done that.
For a pricing exercise, start with Seymour’s 1958 gas prices in the range of $0.75/gal. At a reasonable 2.5% annual inflationary rate and in 2022 it winds up at around $ 3.75/gal which it was before this latest surge — the same refinery processing the same crude oil producing the same gas yet your retail price is 5 times what it was in 1958.
Now we come to the interesting part of the pricing exercise. U.S. has an overabundant domestic supply of crude oil and producers already tied into the pipeline system but our ever thoughtful government has taxed those producers so high as to make imported products cheaper than our domestic sources — which naturally have been shut out of the markets. When as now a glitch happens in these imported products there is a lag, causing a shortage of products, until local producers can open up their wells to meet the demand but, again, products will be priced high-er because those taxes have to be paid.
As a gas consumer don’t be angry at your local gas pump. Your only option is to take a very close look at your gas usage.
How many unnecessary runs to the grocery store, bank or wherever else are you making just because you are unorganized. Make a simple weekly list and by combining things it will make life less hectic and save gas money as well — it’s not complicated and you might find it interesting as well — annually car insurance is much more than the gas I pump in the tank.
John Richcreek, Seymour