OIL prices falling!!

[charlz]

Oil mostly recovered from the drop the other day, but is back down today. Don't worry though, at some point this week I need to fill up my RV and gas cans for camping/riding this weekend.... that should be as good as any other reason for oil to go up

 

[Western]

Bird, I drove into town yesterday and was wondering almost the same thing. I had stopped in ab Exxon to get gas and it was up 2 cents??? I asked the clerk why the prices are still up if crude was down, he replied " We have to use the inventory". hmm makes you wonder since they get trucks delivered almost every other day.

 

[MicroPilot]

Bird, I drove into town yesterday and was wondering almost the same thing. I had stopped in ab Exxon to get gas and it was up 2 cents??? I asked the clerk why the prices are still up if crude was down, he replied " We have to use the inventory". hmm makes you wonder since they get trucks delivered almost every other day.

Except that NOT the way it really works......When the price goes up, it goes up regardless of what the gas in the tank in the ground costs when it was delivered....when the price goes down, they use the excuse "...we have to use the inventory...".

 

[keegs]

My understanding of it is that some of the decline in demand (and price) is due to slowing emerging market growth. I'm concerned about this correlation between global growth and demand (price). It seems to me we need to consume less and find more alternatives if we want to address price volatility.

 

[Bird]

Today I saw prices for regular gas at $3.779 to $3.919 driving 15 miles from home.

I don't know anything about how they price the gas now-a-days, but I know that 50-55 years ago, we usually knew about when another "gas war" was coming, so we kept our tanks as low as possible until then. Once the gas war started, we kept our tanks as full as possible. In other words, we didn't want our prices in the station to drop while we had the higher priced gas in the tanks, and then while the gas war was going, we kept the tanks full so when prices went back up, we'd make a little extra profit. Of course our normal profit on a gallon of gas back then was 3 cents. Our rent on the property was one cent per gallon of gas.:laughing: Unlike the current situation, gasoline sales were expected to cover our overhead. Wash jobs, grease, oil changes, flat repair, and such were the profit.

 

[300UGUY]

My understanding of it is that some of the decline in demand (and price) is due to slowing emerging market growth. I'm concerned about this correlation between global growth and demand (price). It seems to me we need to consume less and find more alternatives if we want to address price volatility.

That has been talked about for 30 years. But we as a nation don't want to pay for it.

 

[paulrk]

Only for a minute. Stations are running out of Gas in PA

 

[chopped]

Here I just paid 12 cents more than I did four days ago..

 

[Kyle_in_Tex]

What happened? I'll tell you what happened, they have the top 5 oil company execs front and centered at a congressional panel. My guess is they told the accountants something like, "Y'all be sure and hold the prices up high while we are in Washington just incase they try to put some more crap on us. That way we can take prices even higher if we have to."

The price at the pump has always "rocketed up" but fall down slower than clouds coming down. Seems they never come down.

The top 5 do business in foreign countries and the taxes they pay the other governments can be deducted from their tax bills here. This is the tax law for ALL companies. They did however, still pay more in taxes than they made profits. If you raise taxes on a company (even more than they are paying now), they are forced to raise the price on their goods passing the hike onto the consumer. OK, don't take this thread political. Its not L or R, we all buy gas and there are so many factors as to why it is high. Dollar depreciation and speculators might be the biggest culprits. Forcing them to add ethanol is not a very smart thing either. Lowers mpg and raises the price of feedstock for the food industry. OK, I ran out of my .02 cents a few sentences ago.

 

[keegs]

That has been talked about for 30 years. But we as a nation don't want to pay for it.

I think thirty years ago most folks in China were riding bicycles. Now they're the biggest car market in the world.

It's not a good picture IMO.

 

[ronjhall]

Prices in my area are not going down. Guess they have not heard that the barrel price has dropped.
Wixom, MI gas prices.

 

[looknlearn]

I think thirty years ago most folks in China were riding bicycles. Now they're the biggest car market in the world.

It's not a good picture IMO.

At the rate we're going, are all gonna be on bicycles in 30 years.

 

[Bird]

This afternoon, I filled both our vehicles with regular gas at $3.719, "Plus" grade was $3.869, and "Premium" grade was $4.019. Diesel was $3.799. That was at QuikTrip. Circle K and Walmart were $3.739. Exxon was $3.759 and Chevron was $3.799 At least prices are down a little bit, but not a great deal.

 

[Ductape]

This afternoon, I filled both our vehicles with regular gas at $3.719, "Plus" grade was $3.869, and "Premium" grade was $4.019. Diesel was $3.799. That was at QuikTrip. Circle K and Walmart were $3.739. Exxon was $3.759 and Chevron was $3.799 At least prices are down a little bit, but not a great deal.

See how they've beaten you down? They have you thinking those prices are 'good' !

 

[Bird]

See how they've beaten you down? They have you thinking those prices are 'good' !

I don't know what could have given you the idea that I thought those prices are 'good'.:confused2: They're better than paying 15 cents a gallon more, as I did earlier this month, but . . . good? Hardly.:laughing:

 

[jinman]

Last Tuesday, I went to my brother's house in Whitesboro, TX where I saw gas and diesel at one station for $3.739. That's the first time I've seen both at the same price in a long time. Yesterday, I filled up in Saginaw, TX (north side of Fort Worth) at a Walmart. Murphy gas was $3.719 with the Walmart shopping card or credit card.

 

[texasjohn]

We're forgetting the subsidies that we also are paying the oil companies from our tax dollars, that ups the cost as well.

Senate Democrats lost a key test vote Tuesday on a bill that would have repealed $20 billion worth of tax subsidies for the nation's five largest oil companies, falling 8 votes short of a win.

​

This is true even though Senate Majority Leader Reid (R) said, "We have to do something about the exorbitant gas prices, and the best way to start with that is to do something about the five big oil companies getting subsidies they don't need,"

Read more: Senate Dems Lose Vote on Repeal of Tax Breaks for Oil Companies Amid Pain at Pump - FoxNews.com

I'm disgusted that such an obvious way to reduce the deficit is blocked by Republicans. $20 billion is not chump change
​

 

[dave1949]

This afternoon, I filled both our vehicles with regular gas at $3.719, "Plus" grade was $3.869, and "Premium" grade was $4.019. Diesel was $3.799. That was at QuikTrip. Circle K and Walmart were $3.739. Exxon was $3.759 and Chevron was $3.799 At least prices are down a little bit, but not a great deal.

I paid $3.939 for regular yesterday at Irving in Farmington, a Canadian outfit, which a couple years back became somehow associated with CircleK. The receipts say CircleK on them, the signs say Irving. Maybe CircleK is their store operator and card authorizer, I have never asked the clerks.
Dave.

 

[dave1949]

What do you all think about the natural gas fueled vehicles?

Pros:
Natural Gas - CNG & LNG

Cons:
Natural gas: study raises doubts on U.S. supply | Greenspace | Los Angeles Times

Dave.

 

[jinman]

What do you all think about the natural gas fueled vehicles?
Dave.

Dave, I love natural gas, but we need a lot more technology to be able to use it in diesels (trains, trucks, equipment). I also have some real concerns about running gas lines to all gas stations and certainly I'm skeptical of the general public's ability to safely refuel their cars with natural gas. The higher flammability and dangers of static discharge really concern me the most. The supply of gas in this area is huge, but so are the horror stories of gas line explosions due to careless digging and leaks. It's just far more dangerous than gasoline and diesel.