Gas prices - OUCH!

[torredcuda]

I'm not sure this is a problem you can drill your way out of and it's not all a regulation issue. 

The US is the number one consumer of oil in the world.  We use more than India and China combined which are the number 2 and number 3 consumers  We have say 15 percent of their combined population. 

On the production side we are consistently in the top 3 of oil producing countries in the world grouped tightly with Saudi and Russia neither country being a democracy.   Most of the easy Oil in the US is already tapped.   I think it was back in 2016 or 2017 that several Shale Oil companies went bankrupt when the market was flooded with Saudi oil and gas was cheap.  The saudis purposely flooded the market to target the shale producers ( remember this?)   Shale producers need the price of oil to be consistently in the $50 - $70 range just to break even.   So why aren't they drilling more wells now?   Because they remember companies going bankrupt and they chose not to based on the belief that the current price shock is temporary.    In other words they want and need you to pay a high price per barrel to have the capital incentive to drill. 

We actually need a balanced energy policy using alternative energy sources and consumers and yes more drilling but that needs to be balanced and yes we do need some regulation if you don't like tar balls on your beaches or gas in your water well.    With the amount of oil we use now there is zero chance not to be in the pocket of Saudi's.   In addition to producing oil they chop people heads off in the street for doing things against their religion and government.  Not the best partner. 

As for the politicians, I hate them all.  I have my policy leanings (left) but  I don't get people worshipping one over the other.  They work for us, but it always seems their interest are first and everything these days is extreme left and right.  These guys need to work together and there has to be a middle.   Even when they went to Ukraine they went separately.   one posse as Dems and the next as Republicans.  WTF were Americans.  Go together and represent USA assholes. It's some shit watching this crap as the world goes to hell and they all vote party over country.  We all need to be paying attention, they work for us.

A lot of good points many of which I agree with. I agree we need a balanced energy plan but at this point we are not able to survive without oil, we can`t stop using oil and gas before we have an alternative that is practical, cost effective and readily avaialble - EVs, solar, wind are not viable yet.
. As for politicians they are working for special interest groups more than us and the partisan crap has gotten out of hand not to mention the corruption/deep state. Unfortunately with the idiots in charge I don`t see any good solutions to any of our countrys problems any time soon, maybe they will bankrupt us, the government will topple and we can start over?

[dodj]

Even when they went to Ukraine they went separately.   one posse as Dems and the next as Republicans.

When I saw that I thought it spoke volumes about the maturity of the current American politicians.

OK, back to the original topic..
Here gas was $2.09 a litre...diesel 2.19 a litre...

[BIGSHCLUNK]

I guess I should be happy, I found one station yesterday w DIESEL @ 4.99. My loaders need fuel!  27 gals $135 It used to be if I spent $100 it was an expensive day. Regular here is 4.39 ISH... I was thru Chicago over the weekend saw regular for $5.09. One of my gys in the shop has family somewhere in Cali. Over $7.00 !!! 

[cuda hunter]

I just purchased red diesel for 4.35 at a CoOp.   That price has already gone up in the last two days as that was sold out.   Now the price goes up for them also.   Highway diesel was 4.99.   
Whereas when I drove out of that area of Colorado the prices immediately went up to 5.86 for highway diesel.
There are a very few counties in Colorado that are still very different than the rest of what this state has become. 

[704406]

Regular gas is now $2.32 per litre in Victoria BC just went up .11 cents overnight
Around $10.00 per gallon!

[cuda hunter]

 

[Spikedog08]

I was just in Vegas last week and gas was $5.40 but I saw $5.50 at one station . . My Uber ride was certainly more than normal.   

[Mopsquad]

Love to hear from some oil industry execs and get their between-you-and-me point of view on these prices.

[anlauto]

Questions for you Americans

During the day, or over night when a gas station increases the price, how much is the typical increase per gallon ?  $0.03 , $0.05, $0.07, $0.10 per US Gallon ?


Reason I'm asking is these are the typical increases we see every day....however since Canada switched to the "metric" system....these increases per liter are equivalent to  $0.11 to $0.38 per gallon jump at a time

I can't imagine your gas goes from $1.79 to $1.90 in one increase ? Does it ?

[73440]

Normally see changes of .10 or .20 in East Texas.

An Exxon station nearby offers .40 discount with a $15 Works car warsh, so the car warsh cost drops to about $5 when at 1/4 tank.

[Dakota]

Normally see changes of .10 or .20

Same here in western NY.

[70vert]

the price change varies greatly but I'd say typically between .02 to .10, never seen any increase more than .10 in a single day.

I filled up this morning at Exxon for $4.19, but I use their App (not the "get upside" app) which gives me .03 per gallon credit to save up and use with a gas purchase or in the convenience store. I used to go to Costco because they were always .05 to .10 cheaper but since prices have gone up everyone does and lines are horrible, so I stopped.

PS: this goes for Houston

[Katfish]

There's a RaceTrack I pass every day to and from work.
Actually saw the price change as a I drove by over several times the last couple of weeks.

I'm in central FL, price changes have been typically $0.20 both up or down.
I came home from work on Monday, it was $4.19, next morning it was $4.49, now today (Friday) it was back down to "only" $4.34.

It's a marketing F*uck, we all panic and gasp, "gas is $4.50" then when it drops we're happy.
"Oh look, gas is only $4.34"

When we should all be remembering it was $2.50 just a year ago ...........

[anlauto]

Just today around....the gas prices have maintained pretty high all week so less and less people were filling up...today the priced dropped by .10 so gas stations are lined up right now, and on the news they already said the price goes back up tomorrow 

[worthywads]

There's a RaceTrack I pass every day to and from work.
Actually saw the price change as a I drove by over several times the last couple of weeks.

I'm in central FL, price changes have been typically $0.20 both up or down.
I came home from work on Monday, it was $4.19, next morning it was $4.49, now today (Friday) it was back down to "only" $4.34.

It's a marketing F*uck, we all panic and gasp, "gas is $4.50" then when it drops we're happy.
"Oh look, gas is only $4.34"

When we should all be remembering it was $2.50 just a year ago ...........

We shouldn't forget that it was Trump who negotiated for Saudi Arabia to slash production because $2 gasoline was killing the US oil producers profits.  Saudi Arabia hasn't returned to normal production volumes.

https://www.reuters.com/article/us-global-oil-trump-saudi-specialreport/special-report-trump-told-saudi-cut-oil-supply-or-lose-u-s-military-support-sources-idUSKBN22C1V4