Gasoline prices Skyrocketing!

Good man....pretty sure the refiners and marketers are getting any gravy Sir Joe..
 
I had to venture out to Little Rock proper this afternoon, to do some bank deposits. Somethings definitely up. That Valero in my town is still $0.99 but Little Rock stations are back up to $1.29 and a skosh higher... I even saw an independent joint called "DK" that was up to $1.85 for unleaded.
 
$2.55 here in SoCal, Quite a few years since them levels. Too bad most of it is road tax, this tax, that tax.... Sorry Lee
 
BlazeES said:
Is that like Arco or BP pricing ?
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Local Mobil station that has prices that beat out even the cheapies. Extra costs are what make our air so clean! Summer mix coming soon, price increase will join it.
 
I remember buying unleaded for 88 cents a gallon at a Conoco in northeast Oregon? on my way to Aberdeen. WA in the early oughts. Least I ever paid for gas.
 
I used to scrape together 25 cents to buy a gallon for the minibike riding, not so many bottles by the road in them days.
 
Gas jumped a little over night, possibly from the news that there is an agreement between the US & OPEC. Trump is announcing a 20 million barrel cut back but other people with knowledge say its around 12 million. Anyway, the May & June futures are a little higher.

Gas on one end of town is $1.07. The other end of town that is mostly branded stations are posting $1.17 / $1.19 a gal.
 
It's also time to switch over at the refineries.
 
Paid $1.29/gallon for 93 octane today. I still can't believe it ...
 
Prices didn't move much in the last 48 hours. A couple of the shell stations dropped two-cents to try and compete with the convenience stores. The low still sets at $1.07, for ethanol.

It sounds like the US and OPEC came to an agreement on imported products. Reduced production is set to start May 1, and continue through June 30. Then, if I understand this correctly, they could increase production if there is some stability in pricing. Hopefully the US producers will be able to survive this interruption in pricing and rebound in salvageable financial condition.
 
laatsch55 said:
Gonna be a bunch go bankrupt..
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I reframed mentioning that situation. But as long as you touched on the subject. I fear for a lot of people in the construction industry. I spent my entire working history as an engineer in construction and a lot of workers and companies didn't survive after the economy collapsed in 2006.
 
Good time to purchase those companies that can't stay afloat.

Sorry to say, but buying them might save some of the jobs that would certainly be lost if they go bankrupt.
 
J!m said:
Good time to purchase those companies that can't stay afloat.

Sorry to say, but buying them might save some of the jobs that would certainly be lost if they go bankrupt.
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Bankruptcy should always be the last avenue to travel down if you are a small company. I would suggest if this is your last option and you have little hope of being bailed out, liquidation on your own may be your only option. However, I wouldn't start this option without seeking rock solid counsel from a qualified bankruptcy attorney as well as a CPA.

Fuel prices remained stable over the night with exception of a couple branded stations dropping .02, to try and stay competitive with the other sellers. The sellers where I live (eastern Iowa) are lucky since taxes in Illinois are about double compared to Ia. $1.07 is the low for ethanol.
 
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