Fuel prices around the world.

[jyoutz]

I blame the heavy handed environmentalist bullies.

I’m no friend of those folks, but looking at the oil and gas activities I don’t see that they have had any effect on production in the most lucrative oil fields (Permian Basin and Bakkan). They have successfully stopped production on the north slope and Alaska National Wildlife Refuge. But when the last administration offered permits there, no oil companies bought them. It’s extremely expensive and not profitable to produce oil in Arctic locations. Alaska oil isn’t happening due to economics, and the environmental groups haven’t affected production in the most productive locations (Permian basin).

 

[Hay Dude]

We can go back and forth forever, but the one common thing that we all SEE with our eyes is fuel prices doubled in about a year. There’s no denying it and there’s no sign of it stopping.
We also can see zero effort being made to change it for the better.
The “great reset” is still going strong. It’s not all that great for some.

 

[deserteagle71]

We can go back and forth forever, but the one common thing that we all SEE with our eyes is fuel prices doubled in about a year. There’s no denying it and there’s no sign of it stopping.
We also can see zero effort being made to change it for the better.
The “great reset” is still going strong. It’s not all that great for some.

It is not intended to get better. When the new administration took over a year ago one of their promises, their stated goals, was to move us away from fossil fuels. High fuel prices do just that.

Fuel price in Lovelock, Nevada a few days ago:

 

[Hay Dude]

You aint doing too bad, D.E.
$4.09 would help me in the bank account.
Pretty pathetic, huh?

 

[Kyle_in_Tex]

It is not intended to get better. When the new administration took over a year ago one of their promises, their stated goals, was to move us away from fossil fuels. High fuel prices do just that.

Fuel price in Lovelock, Nevada a few days ago:
View attachment 735195

First I've seen diesel cheaper than gas in a long time.

 

[Williy]

Here gas is $3.19
diesel is $3.69

willy

 

[mrmikey]

Ours took a jump in NS yesterday by 6 cents a liter, it is now CAN$1.589 a liter which works out to US$4.75 a US gallon, diesel is CAN$1.688 a liter, works out to US$5.05 a US gallon. SIL friend owns a local gas station, he 'says' he heard rumors of a 20 cents a liter jump tomorrow or Friday..........Mike

 

[Diggin It]

What's happening is simple economics ... and producer greed.

People stopped driving and flying. Demand cratered. Production facilities were shut down. The people started driving and flying. Demand soared, but the facilities were not brought back on line as quickly as they were shut down.

Add in the speculators, Middle East issues, a handful of leaks, explosions, refinery fires and now .... over there.

 

[Snobdds]

What's happening is simple economics ... and producer greed.

People stopped driving and flying. Demand cratered. Production facilities were shut down. The people started driving and flying. Demand soared, but the facilities were not brought back on line as quickly as they were shut down.

Add in the speculators, Middle East issues, a handful of leaks, explosions, refinery fires and now .... over there.

Simple economics is not driving this ship right now. Supply and demand did not just suddenly crater or spike. The price is being driving by a risk premium on the commodity. If the risk goes away, the price would fall like a brick.

 

[Williy]

Gas jumped to $3.49 today this morning was $3.39
Diesel is $3.99 to $4.15

willy

 

[DK35vince]

Diesel here just went to $4.90
87 octane Gas $4.00

 

[duffer]

Get ready for even more "pain at the pump". The wholesale price of gas jumped 80¢ a gallon in the last 10 days. Normally it takes about 2 weeks for prices to make it to the pump from suppliers. Gas has jumped here 20¢ in the last 2 days, and I'm afraid that it's the calm before the real storm.

I expect a LOT more increases.

 

[IndyJay]

...I'm afraid that it's the calm before the real storm...

I think the storm is upon us.

 

[ptsg]

As for now, in my country, on some reputable gas pumps:

Standard Diesel: 7.46 $/US gallon
Premium Diesel: 7.75 $/US gallon
95 Gas: 7.96 $/US gallon
Premium 95 Gas: 8.25 $/US gallon
Premium 98 Gas: 8.60 $/US gallon

As of next Monday with the €0.15/L increase on Diesel and €0.08/L on Gas:

Standard Diesel: 8.08 $/US gallon
Premium Diesel: 8.37 $/US gallon
95 Gas: 8.29 $/US gallon
Premium 95 Gas: 8.58 $/US gallon
Premium 98 Gas: 8.93 $/US gallon

Not sure what the future will bring, but doesn't look good. With these crazy fuel prices that make everything else increase as well, I suspect some really hard times for my country. This not really a rich country, specially with an average monthly income of around $1,000, yet the prices being charged on just about every product keeps raising while the income remains stagnant. Not a good combo.

Just to give a better idea. Let's say some has a monthly income of $1,000. If that person is paying rent, which is usually around $400/month for the most basic apartment, plus let's say $200/month of fuel going back and forth for work, doesn't leave much left for food, supplies, water/electrical/gas bills or anything else really.

 

[mrmikey]

You're lucky.
Ours in NS just went up yet again last night, CAN$1.73 a liter, works out to US$5.24 a US gallon, diesel is CAN$1.90 a liter, US$5.68 a US gallon. I retired in April and bought my first new vehicle in decades before I did, a Ram 1500, I'm really regretting that choice now..............Mike

**EDIT**
The 'You're lucky" comment was not directed at you PTSG, I thought there was a post directly above mine that had slightly lower fuels costs, I must have been seeing things. When I see your prices I guess I'm the lucky one ..........M

 

[ultrarunner]

I remember years ago when fuel spiked it corresponded with late model SUV and pickup fires and/or thefts to vehicles with large balances owing and the thought was it related to not taking a repo hit on credit rating.

On a side note this is the longest I can remember without hearing anything from my friends in Europe... my instinct says the current situation is rocking Europe to the core as the unthinkable for many unfolds...

 

[Hay Dude]

Here in the US these crazy prices will unsettle people as I know it does me. I believe we are at the eve of a shift this country hasn't seen in decades.
In a strange way, I think it’s this “drink from the bitter cup”……or “dose of nasty medicine” that will kick start the change.
I’m not talking about war or revolution, but leadership change to quality, thoughtful leadership.
It may be painful for a while, but maybe, just maybe, we will get sensible and lasting change. What we have now is pure garbage of the lowest quality

 

[jyoutz]

Here in the US these crazy prices will unsettle people as I know it does me. I believe we are at the eve of a shift this country hasn't seen in decades.
In a strange way, I think it’s this “drink from the bitter cup”……or “dose of nasty medicine” that will kick start the change.
I’m not talking about war or revolution, but leadership change to quality, thoughtful leadership.
It may be painful for a while, but maybe, just maybe, we will get sensible and lasting change. What we have now is pure garbage of the lowest quality

And what kind of quality thoughtful leadership is going to change high world prices? The only way to change US prices would be to reinstate the ban on exports and base US oil prices on US demand. The oil lobby convinced congress to authorize exports and since then oil prices have risen based on worldwide market prices.

 

[5030]

What we have now is pure garbage of the lowest quality

Leadership and motor fuel both. Just filled my 500 gallon bulk tank and had to rob the slush fund to pay the bill. I put a padlock on the cap. It's become a very stealable item. I don't know about 'pure garbage' but I'd say 'smells like stale fish'.

 

[5030]

You're lucky.
Ours in NS just went up yet again last night, CAN$1.73 a liter, works out to US$5.24 a US gallon, diesel is CAN$1.90 a liter, US$5.68 a US gallon. I retired in April and bought my first new vehicle in decades before I did, a Ram 1500, I'm really regretting that choice now..............Mike

**EDIT**
The 'You're lucky" comment was not directed at you PTSG, I thought there was a post directly above mine that had slightly lower fuels costs, I must have been seeing things. When I see your prices I guess I'm the lucky one ..........M

My typical 10 buck fill up has grown to 20 recently but I'm still tickled that my 4 wheeled shoe box gets 40 mpg, especially when the big land yachts blow past me at 10 over the limit and I think to myself....'another guzzler sucking it down'. I suspect that the sales of guzzlers (pickups and large SUV's will drop. Buyers not only cannot afford the purchase prices but the cost of fueling them as well. My wife's Suburban takes a C note to fill now. Needless to say it's parked most of the time.

I like V8 powered land yachts as much as the next person, but they are fast becoming unaffordable with no end in sight.