Gasoline prices Skyrocketing!

[orange]

There is nobody in Malheur County OR and Payette County ID less than $3.00, at least $3.05 and the lowest price in Oregon is $2.96...

 

[BlazeES]

I think our local was 2.35 today. And oil prices are still good enough for me. mID SIXTIES is great for everybody...

I totally agree ... a barrel of oil today in the 60-range equals roughly a barrel in 1980's at around twenty some bucks. So from that standpoint, I'm cool with it.

And the quality of fuel now days has to be accounted for too.


If you run the calculator for a gallon of gasoline, at today's prices the same gallon of regular would cost less than a buck in the 80's.


So in a nutshell, the power of a dollar seems in-line to me. It's just a shame healthcare costs are such a big white elephant in the room.

 

[VSAT88]

2.33 Per. I paid today. Around $ 50.00 filled the Sequoia all the way up in Phenix City, Al. I really do not mind around $3.00 per gallon. That's more than fair and affordable .

 

[8991XJ]

Been bouncing these last couple weeks. Costco near me, about a quarter cheaper than the local stations has gone from 2.65 to 2.52 and now at 2.55 after a couple days at 2.54. Prices in DE are a bit less than Costco and NJ is too far to make the trip for fuel. But DE, that is close. Edit, just saw the Costco is down to 2.49.

After Iraq II got all messy, a neighbor insisted we owned that oil and the price of gas should be 2.29. That was a dozen years ago and maybe he would be ok with the mid-2s for prices but I don't understand how 'we owned that oil' attitude.

Do you think the Iran embargo is going to have much effect on the price at the pump?

 

[laatsch55]

I don't think so. What WILL is that China just quit buying 2.2 million a day from the gulf coast...should bring them down...

 

[8991XJ]

And if home heating oil isn't in high demand we can keep a reasonable price for a while. Overall world economy and goods production is a big driver in the price. This drop off by China will make a fill up a bit less.

 

[laatsch55]

Yep, we are still at historic inventory for crude. Oil has been overpriced for awhile. Western Canadian is down to 15.85 this week.....now that's brutal. Takeaway capacity is what it's all about, regardless of where you are...

 

[BlazeES]

Yep, we are still at historic inventory for crude. Oil has been overpriced for awhile. Western Canadian is down to 15.85 this week.....now that's brutal. Takeaway capacity is what it's all about, regardless of where you are...

That's like 12 bucks US. What the ? So are you saying the floor is gonna drop on US crude ?

 

[laatsch55]

Not yet Tony...Canadian crude is undergoing a severe pipeline takeaway problem. Heavily discounted to go out by rail and a car shortage. The provincial governments are trying to inject their climate change feelings by being obstructionist on their turf.

American crude still seems to be buoyed by the good time roll boys. As long as the rig count doesn't get out of hand it seems impervious to common sense. Production in the Permian is now constrained by pipeline capacity, BUT....them Texans do that better than anybody....get their shit to market, it doesn't hurt they built the market in their backyard.

 

[orange]

It not smart to tear your industry apart and find you truly need it yet haven't got the capacity and facilities to process it. And running fleets of electric cars and trucks requires power generation, electricity is not free and 'magic'. We are not there, no matter what the HYPE says.

 

[BlazeES]

Let's hope that the prognosticators are wrong on the so-called bear market hitting crude. Supposedly there is a glut of oil in the channels. We are now hovering just above 60/barrel.

 

[laatsch55]

There is a glut and has been for awhile. The speculators are nervous about a trade war. Rig count is still high, and the inventory of drilled but uncompleted wells is growing. There's also some major offshore gulf coast projects coming online...

 

[orange]

A greater chance of skiing with Satan, take a look...

https://www.gasbuddy.com/home?search=&search=97914&fuel=1

It may just be that our dealers are holding out before cutting loose to preserve some margin, it's happened before.

My dad never made a lot on gas sales, he got his income from the service bays.

On the other hand, he refused to sell beer and burritos and snacks, where the actual money is.

 

[Oldaudioschool]

2.54 a gallon is the low on the west edge of town. Four miles to the other end of town, 2.59 a gal. Oil dropped below $60 a barrel and a federal judge stopped work on the pipeline. Plus the US goverment lifted some sanctions against Iran and will allow eight selected countries to purchase oil from Iran.

 

[BlazeES]

 

[orange]

It'll happen in time for Thanksgiving here.

 

[grapplesaw]

We just got to California today. 3.99 gal for #2 diesel here. Filled up in WA for 3.19 gal. Next Year I will top up in Oregon. I see prices climbing till well after the Christmas holiday.

Shout out to anyone in the many fire areas. We were in smoke from Redding to Fresno. Hope all are well

 

[orange]

ALWAYS top off in Oregon...before you hit Medford if possible.

 

[Oldaudioschool]

Gas dropped five cents here in town since yesterday. Now $2.49 a gal.

 

[BlazeES]