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Off-Topic => General Topics => Topic started by: Topcat on April 05, 2020, 05:03:51 PM

Title: Gas Prices hit new Record Lows
Post by: Topcat on April 05, 2020, 05:03:51 PM
Holy Petroleum Batman!  .94 cents a Gallon!   :unbelievable:

https://www.cnet.com/roadshow/news/gas-prices-average-drop-kentucky-station/

Let's hear your local record lows.
Especially on what is premium Fuel prices where you're at.
Title: Re: Gas Prices hit new Record Lows
Post by: EDL94 on April 05, 2020, 05:08:27 PM
Gas is cheep now that we cant go anywhere
Title: Re: Gas Prices hit new Record Lows
Post by: 1 Wild R/T on April 05, 2020, 05:58:03 PM
Quote from: Topcat on April 05, 2020, 05:03:51 PM
Holy Petroleum Batman!  .94 cents a Gallon!   :unbelievable:

https://www.cnet.com/roadshow/news/gas-prices-average-drop-kentucky-station/

Let's hear your local record lows.
Especially on what is premium Fuel prices where you're at.

I'd sure like to see prices like that around here...
Title: Re: Gas Prices hit new Record Lows
Post by: kawahonda on April 05, 2020, 06:01:20 PM
I'm afraid to touch the fuel pump.
Title: Re: Gas Prices hit new Record Lows
Post by: RUNCHARGER on April 05, 2020, 06:03:14 PM
Works out to US$2.20/gallon here. Cheap for us but still immoral.
Title: Re: Gas Prices hit new Record Lows
Post by: JH27N0B on April 05, 2020, 06:07:34 PM
Still $1.99 by me.  Not that it really matters, I've still got about a half tank left from when I topped off around 3 weeks ago.
I haven't reinstated the insurance yet on "blue bomber" my '09 Classic R/T that has been winter hibernating for the last 4 months.  And I'm not sure when I will either, why spend the money when I'm only making a couple local grocery and takeout runs a week?
I wish I could store a couple hundred gallons of cheap gas for when life gets back to normal.  :looney:
Title: Re: Gas Prices hit new Record Lows
Post by: JonH on April 05, 2020, 06:13:32 PM
Record lows? Obviously whoever made that statement was not alive in the middle of the last century....
Title: Re: Gas Prices hit new Record Lows
Post by: BIGSHCLUNK on April 05, 2020, 08:15:56 PM
$1,45 HERE BUT .99 ABOUT 30 MILES WEST (reg)
Title: Re: Gas Prices hit new Record Lows
Post by: cuda hunter on April 05, 2020, 09:26:32 PM
We are still 2.19 to 2.79. 
Too bad this gas is so crappy you can't store it for long.  You get maybe 30 days before it starts going bad.  I've seen the color change in my gas can in just about 30 days. 
  This new ethanol gas is crap.  I feel it is the gas companies keeping us under their thumbs so we have to go get new gas and can't keep gas around. 
  I guess you can put stabilizer into the gas but then the cost goes up a bunch.  I have to put stabilizer into all my old cars as I don't drive them much and the gas goes bad through the winter. 
  wish our gas prices would go down.   Price we pay to live in the mountains I guess.
Title: Re: Gas Prices hit new Record Lows
Post by: Chryco Psycho on April 05, 2020, 10:27:56 PM
I live in a country that produces no oil & has 85% renewable energy , so all oil is imported & we are down to $1.60 / gal
Title: Re: Gas Prices hit new Record Lows
Post by: JS29 on April 06, 2020, 05:48:31 AM
$2.14.9 For the cheep stuff, 2.81.9 for non ethanol, 2.89.9 for diesel. New York state tax's will never let it go to 1.00 per gallon :foul:
Title: Re: Gas Prices hit new Record Lows
Post by: Msbaugh440 on April 06, 2020, 06:11:24 AM
Quote from: cuda hunter on April 05, 2020, 09:26:32 PM
We are still 2.19 to 2.79. 
Too bad this gas is so crappy you can't store it for long.  You get maybe 30 days before it starts going bad.  I've seen the color change in my gas can in just about 30 days. 
  This new ethanol gas is crap.  I feel it is the gas companies keeping us under their thumbs so we have to go get new gas and can't keep gas around. 
  I guess you can put stabilizer into the gas but then the cost goes up a bunch.  I have to put stabilizer into all my old cars as I don't drive them much and the gas goes bad through the winter. 
  wish our gas prices would go down.   Price we pay to live in the mountains I guess.

Lol... you do realize that blending ethanol into gasoline is a government mandate right? It was made to try to reduce greenhouse gas emissions and dependence on foreign oil... It goes bad so quickly because of the ethanol. I work for an oil refiner and we don't even produce or blend the ethanol at the refinery. Trust me, we'd much rather not use it and sell you more gasoline
Title: Re: Gas Prices hit new Record Lows
Post by: mopartaz on April 06, 2020, 06:50:08 AM
I found a Fuel 1  station here selling reg @ $1.73 and diesel @ $2.07
Title: Re: Gas Prices hit new Record Lows
Post by: BIGSHCLUNK on April 06, 2020, 02:25:18 PM
We've hit 1.39 for reg
Title: Re: Gas Prices hit new Record Lows
Post by: jimynick on April 06, 2020, 03:02:05 PM
Quote from: JonH on April 05, 2020, 06:13:32 PM
Record lows? Obviously whoever made that statement was not alive in the middle of the last century....
Ain't THAT the truth?! I remember pumping B/A gas at my old man's gas station in the early 60's for $0.27 a gallon or 4.5ltrs for the metrically impressed. It's still 0.70 a litre here in Ontario.  :(
Title: Re: Gas Prices hit new Record Lows
Post by: JS29 on April 06, 2020, 03:08:15 PM
In Knoxville TN $1.34.9 Diesel $1.89.9 according to my cousin.  :alan2cents:   
Title: Re: Gas Prices hit new Record Lows
Post by: MEK-Dangerous on April 07, 2020, 12:45:01 PM
$1.89 a gallon here for the cheap stuff. What I find interesting is, the 93 octane gas price is almost $1.00 a gallon more. That isn't dropping as fast.
Title: Re: Gas Prices hit new Record Lows
Post by: JS29 on April 07, 2020, 01:06:03 PM
Diesel here in central NY this afternoon $2.84.9. home heating oil #2 (same thing) $1.80.9. that one dollar difference is TAX. They put a red die in home heating oil, and if D.O.T. sticks the tank and find red in a motor vehicle, You are subject to a fine.   :console: :bigmoney: 
Title: Re: Gas Prices hit new Record Lows
Post by: R/T-S/E on April 07, 2020, 01:43:45 PM
Guys, Who came up with the record low. Back in a world where most of your didn't live. Gasoline was in the teens as in 15 cents per gallon including Lead. So take back that record low statement it is grossly inaccurate.
Title: Re: Gas Prices hit new Record Lows
Post by: kawahonda on April 07, 2020, 02:55:01 PM
Quote from: R/T-S/E on April 07, 2020, 01:43:45 PM
Guys, Who came up with the record low. Back in a world where most of your didn't live. Gasoline was in the teens as in 15 cents per gallon including Lead. So take back that record low statement it is grossly inaccurate.

You know there is a thing called inflation, right?

.15 cents in the 60s is $1.25 today. The article that was linked showed $.94.
Title: Re: Gas Prices hit new Record Lows
Post by: chargerdon on April 07, 2020, 04:01:08 PM
Here in the Raleigh, NC area, most stations are between $147-$1.55 for regular.   There appeared to be a gas war going on as about 10 miles from me, regular was down to $1.39 and Premium (93 octane) was also as low as $1.59.   

When i was a 16 year old, my Dad bought a used Fiat 1100D sedan.   It got 40-45 mpg !!   At 27.9 a gallon, you could drive 100 miles on 50 cents worth !!

Today my 74 Challenger with stroked 360 to 408 gets about 10-11 MPG on Premium.   Im not sure 50 cents would even start it !!!   LOL
Title: Re: Gas Prices hit new Record Lows
Post by: BIGSHCLUNK on April 07, 2020, 06:28:44 PM
We hit 1.29 reg today
Title: Re: Gas Prices hit new Record Lows
Post by: Topcat on April 07, 2020, 06:52:33 PM
Quote from: R/T-S/E on April 07, 2020, 01:43:45 PM
Guys, Who came up with the record low. Back in a world where most of your didn't live. Gasoline was in the teens as in 15 cents per gallon including Lead. So take back that record low statement it is grossly inaccurate.





You need to take in the cost of living index and what inflation rating was at that particular time.

https://www.usinflationcalculator.com/

Title: Re: Gas Prices hit new Record Lows
Post by: worthywads on April 08, 2020, 05:38:51 PM
Quote from: kawahonda on April 07, 2020, 02:55:01 PM
Quote from: R/T-S/E on April 07, 2020, 01:43:45 PM
Guys, Who came up with the record low. Back in a world where most of your didn't live. Gasoline was in the teens as in 15 cents per gallon including Lead. So take back that record low statement it is grossly inaccurate.

You know there is a thing called inflation, right?

.15 cents in the 60s is $1.25 today. The article that was linked showed $.94.

Yep, quite a few are missing inflation.
2020 $0.94

Equivalent to these prices back in time.

2000 $0.64
1980 $0.30
1970 $0.14
1960  $0.11

Title: Re: Gas Prices hit new Record Lows
Post by: jimynick on April 08, 2020, 07:47:45 PM
I can't speak for US prices, but in '61-'62 in Canada I was pumping it at my dad's gas station for 0.27-29 an Imperial gallon (160oz)  5 gallons Imperial was the same as 6 gallons US  :cheers:
Title: Re: Gas Prices hit new Record Lows
Post by: MEK-Dangerous on April 09, 2020, 01:18:47 PM
Quote from: jimynick on April 08, 2020, 07:47:45 PM
I can't speak for US prices, but in '61-'62 in Canada I was pumping it at my dad's gas station for 0.27-29 an Imperial gallon (160oz)  5 gallons Imperial was the same as 6 gallons US  :cheers:

The lowest price for gas I remember was in the late 60's. There was a non brand gas station selling for .29 cents a gallon. I guess you are a little older than I am, but I miss those days. You had to fill up every couple of days because your car got crappy gas mileage.
Title: Re: Gas Prices hit new Record Lows
Post by: mopar thunder on April 09, 2020, 06:47:03 PM
Holy cow! I want some of those prices. Altough I can't complain too much, it's $1.69 - $1.75 here in Bradenton, Fla.   
Title: Re: Gas Prices hit new Record Lows
Post by: jimynick on April 09, 2020, 07:23:13 PM
Quote from: MEK-Dangerous on April 09, 2020, 01:18:47 PM
Quote from: jimynick on April 08, 2020, 07:47:45 PM
I can't speak for US prices, but in '61-'62 in Canada I was pumping it at my dad's gas station for 0.27-29 an Imperial gallon (160oz)  5 gallons Imperial was the same as 6 gallons US  :cheers:

The lowest price for gas I remember was in the late 60's. There was a non brand gas station selling for .29 cents a gallon. I guess you are a little older than I am, but I miss those days. You had to fill up every couple of days because your car got crappy gas mileage.
Yeah! AND, the American prices were always lower than ours. $20 would buy you a bit more than 17 Imperial or 20 US gallons of gas, so the fact was that that land yacht you were driving was still affordable; even though you were likely making about $1.60/hr.  :huh:
Title: Re: Gas Prices hit new Record Lows
Post by: BIGSHCLUNK on April 13, 2020, 10:46:10 AM
Regular is now .89  just a few miles west of here  :Thud:
Title: Re: Gas Prices hit new Record Lows
Post by: JS29 on April 13, 2020, 10:55:22 AM
Quote from: BIGSHCLUNK on April 13, 2020, 10:46:10 AM
Regular is now .89  just a few miles west of here  :Thud:
:woohoo:
Title: Re: Gas Prices hit new Record Lows
Post by: Racer57 on April 13, 2020, 08:31:02 PM
$1.25 in east central Illinois.
Title: Re: Gas Prices hit new Record Lows
Post by: Gross Polluter on April 13, 2020, 09:09:10 PM
Prices have hardly changed here in crazy CA...  The cheapest premium in my area is 2.99 cash/3.09 credit, been that way for several weeks and most stations are still at least .15 above that.  It's an outrage. 
Title: Re: Gas Prices hit new Record Lows
Post by: Topcat on April 13, 2020, 10:37:25 PM
Quote from: Gross Polluter on April 13, 2020, 09:09:10 PM
Prices have hardly changed here in crazy CA...  The cheapest premium in my area is 2.99 cash/3.09 credit, been that way for several weeks and most stations are still at least .15 above that.  It's an outrage.

Two weeks ago, it was going down. Then it went right back up.   :bricks: :Thud:
Title: Re: Gas Prices hit new Record Lows
Post by: MEK-Dangerous on April 14, 2020, 01:29:36 PM
OPEC has agreed to cut supply, so enjoy the cheaper gas while you can.
Title: Re: Gas Prices hit new Record Lows
Post by: JS29 on April 14, 2020, 03:55:26 PM
Quote from: MEK-Dangerous on April 14, 2020, 01:29:36 PM
OPEC has agreed to cut supply, so enjoy the cheaper gas while you can.
:crying:
Title: Re: Gas Prices hit new Record Lows
Post by: Chryco Psycho on April 14, 2020, 10:31:09 PM
Maybe some of my friends in the oil patch may be able to keep their jobs  :bigthumb:
Title: Re: Gas Prices hit new Record Lows
Post by: chargerdon on April 15, 2020, 05:24:44 AM
I paid $1.38 for regular...   It wont go a lot lower as there is 55 cents of tax on each gallon, doesn't leave a whole lot for the entire process...   
Title: Re: Gas Prices hit new Record Lows
Post by: JS29 on April 15, 2020, 05:58:33 AM
Yesterday $220.9 for the low octane. All in all i figure $1.00 per gallon is tax's   :headbang:
Title: Re: Gas Prices hit new Record Lows
Post by: chargerdon on April 15, 2020, 07:20:48 AM
Quote from: JS29 on April 15, 2020, 05:58:33 AM
Yesterday $220.9 for the low octane. All in all i figure $1.00 per gallon is tax's   :headbang:

Actually, according to Google New York State gas tax is 45.6 cents per gallon add to that the 18.2 federal and you have 63.8 cents of tax. 
Title: Re: Gas Prices hit new Record Lows
Post by: JS29 on April 15, 2020, 07:44:08 AM
Quote from: chargerdon on April 15, 2020, 07:20:48 AM
Quote from: JS29 on April 15, 2020, 05:58:33 AM
Yesterday $220.9 for the low octane. All in all i figure $1.00 per gallon is tax's   :headbang:

Actually, according to Google New York State gas tax is 45.6 cents per gallon add to that the 18.2 federal and you have 63.8 cents of tax.
BUT you failed to add sales tax to that, 9% per dollar. And there maybe another tax figured in. #2 home heating oil is the same as diesel fuel. #2- 1.89.9 per, diesel fuel 2.89.9.  :dunno:
Title: Re: Gas Prices hit new Record Lows
Post by: JS29 on April 22, 2020, 01:17:24 PM
$1.99 regular, $2.59 for diesel. How low can it go, how long will it last.  :notsure:  :banana:
Title: Re: Gas Prices hit new Record Lows
Post by: mopartaz on April 22, 2020, 02:30:21 PM
the other day in central NJ  : $1.53 reg /$1.99 Diesel
I have only found a few this cheap.
Title: Re: Gas Prices hit new Record Lows
Post by: MEK-Dangerous on April 23, 2020, 12:34:23 PM
Quote from: JS29 on April 22, 2020, 01:17:24 PM
How low can it go, how long will it last.  :notsure:  :banana:

To speculate, I can't see it going much lower. When the States start opening up things again, people will use more gas. OPEC has been cutting back production, so when we need more, the price has to rise. We have to enjoy this while we can... Even if we can't drive anywhere.   :crying:
Title: Re: Gas Prices hit new Record Lows
Post by: JS29 on April 23, 2020, 12:46:16 PM
Gas can's and stabilizer, in sealed containers it lasts longer. Non ethanol is still $2.50 a gallon.  :alan2cents:
Title: Re: Gas Prices hit new Record Lows
Post by: Mopsquad on April 23, 2020, 01:31:22 PM
Paying $2.79 here in California for 92. 
Title: Re: Gas Prices hit new Record Lows
Post by: worthywads on April 23, 2020, 02:07:57 PM
Planning on topping of the tank and taken a long drive top down with the wife this weekend, she's hasn't left house/yard in 3 weeks.  Burn off all that stale December gas and fill up with some fresh cheap gas.
Title: Re: Gas Prices hit new Record Lows
Post by: Brads70 on April 23, 2020, 02:33:08 PM
I'd love to do the same but on Tuesday night we got 3" of snow and they paved the roads with salt again!  :pullinghair:
Title: Re: Gas Prices hit new Record Lows
Post by: JS29 on April 23, 2020, 02:44:57 PM
 :console: They got me last Friday!  :crying: :headbang:
Title: Re: Gas Prices hit new Record Lows
Post by: Cudajason on April 23, 2020, 02:52:20 PM
me too!!!  but mines in pieces...lots of pieces.

Jason
Title: Re: Gas Prices hit new Record Lows
Post by: chargerdon on July 29, 2020, 02:01:39 PM
Gas prices dropping again...  Filled up my sebring with 87 at $1.69 here in Fuquay-Varina, NC.     Its funny tho, prices are all over the place with one station charging $1.79...  1/2 a block away its $2.02 but where i filled up down to $1.69.   
Title: Re: Gas Prices hit new Record Lows
Post by: Topcat on July 29, 2020, 05:01:54 PM
 :bricks:

Lowest I've found here now is $2.95 a Gal. for regular. 
Title: Re: Gas Prices hit new Record Lows
Post by: ToxicWolf on July 29, 2020, 06:59:28 PM
I filled up in Florida tonight just over $2 a gallon.
Title: Re: Gas Prices hit new Record Lows
Post by: MEK-Dangerous on July 30, 2020, 12:47:54 PM
Gas prices are heading the wrong way here in Maryland. $2.29 for 87 octane right now. 

I enjoyed that brief time when we got below $2 a gallon.
Title: Re: Gas Prices hit new Record Lows
Post by: Brads70 on July 30, 2020, 12:57:29 PM
Noticed today it was 95.7 per liter ( x 3.8 to gallons)
Title: Re: Gas Prices hit new Record Lows
Post by: js27 on July 30, 2020, 01:15:35 PM
Gas here goes up and down everyday--Last week on Monday is was $1.76 a gallon. BY Wednesday it was $2.05--by Saturday it was $2.14 and today it is $2.05.
JS27
Title: Re: Gas Prices hit new Record Lows
Post by: CudaMoparRay on July 30, 2020, 02:19:24 PM
This is going to be the norm at least for the foreseeable future  :notsure:
Title: Re: Gas Prices hit new Record Lows
Post by: Mrbill426 on July 30, 2020, 02:33:43 PM
$2.45 / $2.75 here; Gig Harbor, WA
Title: Re: Gas Prices hit new Record Lows
Post by: chargerdon on September 18, 2020, 02:21:04 PM
Prices dropping again....  most stations here in Raleigh, NC area are $1.85 for regular.   
Title: Re: Gas Prices hit new Record Lows
Post by: E74cuda on September 19, 2020, 07:05:39 AM
Northern California $3.14 regular
Title: Re: Gas Prices hit new Record Lows
Post by: JS29 on September 19, 2020, 07:35:23 AM
Central New York, 2.24.9 per gallon.  :pokeeye:
Title: Re: Gas Prices hit new Record Lows
Post by: Mrbill426 on March 03, 2021, 11:29:45 PM
How are we looking now??
Title: Re: Gas Prices hit new Record Lows
Post by: anlauto on March 04, 2021, 03:46:57 AM
Ours is back up higher than before Covid  :headbang:
Title: Re: Gas Prices hit new Record Lows
Post by: torredcuda on March 04, 2021, 04:33:41 AM
Quote from: Mrbill426 on March 03, 2021, 11:29:45 PM
How are we looking now??

Not good, been going up for the last couple months and still going, are we going to see $4+/gallon this summer?  :verymad:
Title: Re: Gas Prices hit new Record Lows
Post by: js27 on March 04, 2021, 04:57:44 AM
Gas here in SC was 1.67 a gallon in August last year. Then 1.86 right after the election in Nov. Now it is $ 2.49 and going up every week.
JS27
Title: Re: Gas Prices hit new Record Lows
Post by: JH27N0B on March 04, 2021, 05:29:55 AM
Be glad you're not here, I paid 2.85 yesterday.  Which was better than last weekend, when I saw the price at the station was $2.99.
With an energy unfriendly administration I don't expect relief anytime soon....  :(
Title: Re: Gas Prices hit new Record Lows
Post by: Northcuda on March 04, 2021, 06:35:30 AM
Lucky bunch!
1.508€ for 1 liter in France  :crying:
(1.82$ for 1.06 qt)
Title: Re: Gas Prices hit new Record Lows
Post by: Jay Bee on March 04, 2021, 06:39:56 AM
The current average in my area (Niagara Peninsula, Ontario) is $1.21 CAD/liter.

That equates to approx, $4.61CAD/ US gal.

The rhetoric/reason given is that it's fallout from the Texas storm and how it affected fuel production.
Title: Re: Gas Prices hit new Record Lows
Post by: docmel on March 04, 2021, 08:24:48 AM
I watch the prices here like a hawk  (At the same gas station):

Jan 2:    Reg, low test, $2.22        Diesel:  $2.15

Today:   Reg, low test, $2.66        Diesel:  $2.99  These prices are the highest in 3 years

And everything to do with fuel costs goes up as well

You do the math and politics...........
Title: Re: Gas Prices hit new Record Lows
Post by: 7E-Bodies on March 04, 2021, 09:02:21 AM
Buckle up. As the song says, "you ain't seen nothin' yet"
Title: Re: Gas Prices hit new Record Lows
Post by: Scooter on March 04, 2021, 09:31:08 AM
Paid over $4 a gallon just last weekend...
Title: Re: Gas Prices hit new Record Lows
Post by: Matt13 on March 04, 2021, 10:49:45 AM
Quote from: Scooter on March 04, 2021, 09:31:08 AM
Paid over $4 a gallon just last weekend...
Yup. So stupid when we have a refinery right in Martinez. I so wish the other had won!
Title: Re: Gas Prices hit new Record Lows
Post by: Scooter on March 04, 2021, 12:45:47 PM
^^^ CA taxes is what makes us pay more at the pump than many others. "Gas tax" my backside... gas does not pay taxes... people pay taxes.  :angry:
Title: Re: Gas Prices hit new Record Lows
Post by: oldmoparbuff on March 04, 2021, 01:57:50 PM
$2.89/gallon reg. unlead.

breakdown
The federal fuel tax on a gallon of gasoline is $0.184 per gallon.
The Oregon state fuel tax on gasoline is $0.36 per gallon.
The county fuel tax on gasoline is $0.03 per gallon.

Total .574 of every gallon is tax for me.
Title: Re: Gas Prices hit new Record Lows
Post by: Matt13 on March 04, 2021, 02:22:03 PM
Looks like us west-coasters are the ones really getting screwed!
https://gasprices.aaa.com/state-gas-price-averages/
Title: Re: Gas Prices hit new Record Lows
Post by: tparker on March 04, 2021, 02:51:54 PM
Quote from: Northcuda on March 04, 2021, 06:35:30 AM
Lucky bunch!
1.508€ for 1 liter in France  :crying:
(1.82$ for 1.06 qt)

Ouch. I was in Germany around 1993 and I thought the gas prices were pretty good. Not much lower than California, but lower. Then I realized it was a liter. :unbelievable: That was like 4 times as much, or something like that. Ouch
Title: Re: Gas Prices hit new Record Lows
Post by: Topcat on March 04, 2021, 07:31:32 PM
Quote from: Matt13 on March 04, 2021, 02:22:03 PM
Looks like us west-coasters are the ones really getting screwed!
https://gasprices.aaa.com/state-gas-price-averages/

Well ya know, we gotta help out the Gruesome team.  :deadhorse:  :verymad:
Title: Re: Gas Prices hit new Record Lows
Post by: HP2 on March 05, 2021, 06:16:30 AM
At the risk of turning this overly political, gas prices reached record highs with the last fossil fuel friendly administration prior to the great recession. Obviously  the recession drove prices way down until the recovery sent them to new record highs. After that, with the last fossil fuel unfriendly administration in the White House, prices dropped to the lowest point they had at been since 2000.  That administration also changed the rules to allow the US to become a net exporter of oil that it had never enjoyed previously. 

$3.00 +/- 15% a gallon, in the US, CA excepting, seems to be an equilibrium point where exploration and extraction is heathy enough to add significantly to employment in that sector with enough supply to keep prices from shooting up and keep our around the world competitors in check. 
Title: Re: Gas Prices hit new Record Lows
Post by: JH27N0B on March 05, 2021, 07:32:53 AM
I recently ordered a Ram 2500 6.4L which is expected to arrive around Memorial Day.
My expert opinion is that gas prices will double by the time I get it.  :'(
Title: Re: Gas Prices hit new Record Lows
Post by: Matt13 on March 05, 2021, 11:00:43 AM
Quote from: HP2 on March 05, 2021, 06:16:30 AM
At the risk of turning this overly political, gas prices reached record highs with the last fossil fuel friendly administration prior to the great recession. Obviously  the recession drove prices way down until the recovery sent them to new record highs. After that, with the last fossil fuel unfriendly administration in the White House, prices dropped to the lowest point they had at been since 2000.  That administration also changed the rules to allow the US to become a net exporter of oil that it had never enjoyed previously. 

$3.00 +/- 15% a gallon, in the US, CA excepting, seems to be an equilibrium point where exploration and extraction is heathy enough to add significantly to employment in that sector with enough supply to keep prices from shooting up and keep our around the world competitors in check.
I would wager that shutting down the Keystone pipeline and returning to dependance on foreign oil can not, in any way, help gas prices remain low. We were finally reaching fuel independence for the first time in a long while. Just my two cents but it only seems logical.
Title: Re: Gas Prices hit new Record Lows
Post by: torredcuda on March 05, 2021, 11:36:34 AM
https://www.yahoo.com/now/why-gasoline-prices-rising-high-162200876.html
Title: Re: Gas Prices hit new Record Lows
Post by: HP2 on March 05, 2021, 12:46:28 PM
Quote from: Matt13 on March 05, 2021, 11:00:43 AM
Quote from: HP2 on March 05, 2021, 06:16:30 AM
At the risk of turning this overly political, gas prices reached record highs with the last fossil fuel friendly administration prior to the great recession. Obviously  the recession drove prices way down until the recovery sent them to new record highs. After that, with the last fossil fuel unfriendly administration in the White House, prices dropped to the lowest point they had at been since 2000.  That administration also changed the rules to allow the US to become a net exporter of oil that it had never enjoyed previously. 

$3.00 +/- 15% a gallon, in the US, CA excepting, seems to be an equilibrium point where exploration and extraction is heathy enough to add significantly to employment in that sector with enough supply to keep prices from shooting up and keep our around the world competitors in check.
I would wager that shutting down the Keystone pipeline and returning to dependance on foreign oil can not, in any way, help gas prices remain low. We were finally reaching fuel independence for the first time in a long while. Just my two cents but it only seems logical.

Its important to understand that the Keystone pipeline is already in place and moving oil. The Keystone XL (phase 4 in the construction process) that is being cancelled was a large diameter bypass project that would shorten the existing run of the pipeline and increase volume.  The pipeline is not completely shutting down. Additionally, the 1000 or so jobs lost to shutting down Keystone XL construction are nothing compared to the tens of thousands of jobs in US fracking that were put out of work by Saudi, Russian, and Venezuelan overproduction to flood the market with cheap oil and punish US production.

We also are not returning to dependence on foreign oil. The oil created by US fracking and our changing of policy to allow exports drove global prices down from $160 a barrel in 2008 until things bottomed out in 2016 at $38 a barrel. An unfortunate side effect of this and foreign over production made oil so cheap that many US fracking companies that helped get it there had to shut down operations.  Prices have actually been steadily rising since early 2016 and were bouncing around in the $60-70 range until the pandemic hit and demand went into the toilet.  Demand was so low in 2020, prices dropped to the $20 range. Add in all the things in the link provided by torredcuda and yes, we are going to see a rapid escalation and another spike, but when values go up, so does production and it will drop prices and stabilize.  This is why I think $3 a gallon for gas is the equilibrium point where there is enough value for fracking to get back into production and our foreign competitors to slow down production enough to keep prices stable.
Title: Re: Gas Prices hit new Record Lows
Post by: Skid Row on March 05, 2021, 12:54:42 PM
 :angry: Watch the price of food, and shipping of anything go up with it. (Inflation is coming)
Title: Re: Gas Prices hit new Record Lows
Post by: mopartaz on March 05, 2021, 02:04:28 PM
https://www.macrotrends.net/1369/crude-oil-price-history-chart
Title: Re: Gas Prices hit new Record Lows
Post by: Matt13 on March 05, 2021, 04:07:54 PM
I should have been more specific. Yes, the Keystone Pipeline is running, but not the XL expansion. I would argue that OPEC and Russia decreasing production has had a major effect on prices. We have it within our means to be completely energy independent, but with the influence certain groups have on this administration, that's not going to happen anytime soon.
Title: Re: Gas Prices hit new Record Lows
Post by: RUNCHARGER on March 05, 2021, 06:44:33 PM
Yeah: First thing your new guy did was shut down the new pipeline from Canada, I guess he prefers buying crude from countries that still stone their women or put the profits into arms to fight your country with. Don't really know why neighbors stay friendly after getting kicked in the teeth over and over like this.
Title: Re: Gas Prices hit new Record Lows
Post by: Matt13 on March 05, 2021, 07:06:37 PM
Quote from: RUNCHARGER on March 05, 2021, 06:44:33 PM
Yeah: First thing your new guy did was shut down the new pipeline from Canada, I guess he prefers buying crude from countries that still stone their women or put the profits into arms to fight your country with. Don't really know why neighbors stay friendly after getting kicked in the teeth over and over like this.
It does make you scratch your head. Trust me, there are many, many Americans not happy right now. On the plus side, guys here can now compete against women for sports scholarships!   :looney:
Title: Re: Gas Prices hit new Record Lows
Post by: 7212Mopar on March 05, 2021, 10:32:29 PM
Buy more oil stocks. The dividend alone is enough for gas money. Well may be depends on how much driving you do and how hard you step on the fun pedal. Chevron is 5% dividend on today's stock price.
Title: Re: Gas Prices hit new Record Lows
Post by: cudaragtop on March 06, 2021, 12:35:24 AM

An Oregon Law Maker proposed a bill banning Diesel in some Oregon counties starting in 2024 and statewide by 2028...
Trucks, Trains, Farm Equipment, Fire Trucks, Fishing, Cargo, Navy and Coast Guard Vessels will not be able to fill up in Oregon...
Fill your tank with wind and sunshine I guess, Or fill up at the border and then use the one third rule. 1/3 of a tank to go where you are going, 1/3 to get back with 1/3 in reserve...

https://www.wildcoastcompass.com/oregon-lawmaker-proposes-outlawing-of-diesel-fuel-in-oregon/ (https://www.wildcoastcompass.com/oregon-lawmaker-proposes-outlawing-of-diesel-fuel-in-oregon/)
Title: Re: Gas Prices hit new Record Lows
Post by: cudaragtop on March 06, 2021, 12:56:51 AM
Energy... the higher the cost the more expensive everything else is.

Higher cost of Transportation, Heating, Cooling and Food are the things that will hit the poorest the hardest.
Felt by the middle class too but never as bad as those already having a difficult time. 
Higher food prices are already here. We have noticed our grocery bill climbing.

https://www.bloomberg.com/news/articles/2021-03-01/inflation-2021-malnutrition-and-hunger-fears-rise-as-food-prices-soar-globally (https://www.bloomberg.com/news/articles/2021-03-01/inflation-2021-malnutrition-and-hunger-fears-rise-as-food-prices-soar-globally)



Title: Re: Gas Prices hit new Record Lows
Post by: RUNCHARGER on March 06, 2021, 06:10:38 AM
I find it interesting that with todays vehicle emission levels that if the world had the same population as it did 20 years ago there would be no problem. No one mentions the swelling world's population (not driven by responsible N.A. families btw) that is the root cause of any problems. Most likely because there is less money to be made if the population remained stagnant. It's all a sham perpetuated by the puppet holders and they always make $$$$$
Title: Re: Gas Prices hit new Record Lows
Post by: js27 on March 09, 2021, 05:27:12 AM
Yes indeed-The Democrats are the puppets of China and the rest of the world elites. Biden closes the Pipeline down and gas almost doubled in a matter of 6 weeks. Gas here was $1.67 last summer. Was $1.86 a gallon in November before the election and BANG it is $2.59 today and going up about .25 cents a weeks--Where will it stop ??
The excuse it is because of Texas is bullshit. Texas is not the only oil supplier in this country and they had a extremely cold week and had some problems but it is over now I Believe.
JS27
Title: Re: Gas Prices hit new Record Lows
Post by: chargerdon on March 09, 2021, 06:18:04 AM
First, lets knock off the political comments. 

Second, The price of gas and the pipeline... is just an excuse.   Recognize, that pipeline is NOT in operation, and was scheduled to not be finished for nearly 10 years.   No way in hell does a 10 year off pipeline cause the price of gas to jump like this.    Hell, in 10 years nearly all new vehicles will be electric making this pipeline superfluous !!


Title: Re: Gas Prices hit new Record Lows
Post by: HP2 on March 09, 2021, 06:28:58 AM
Why is it difficult to grasp the loss/drop in output from 47 refineries may have an impact on prices? Texas has more than twice as many refineries as any other state at 47. The next closest is Louisiana at 19.  There are only 135 total refineries in the US.  If a fire at a single refinery can send prices up, what do you think is going to happen when a third of the total capacity is crippled for several weeks?  Nevermind the fact that more people are driving now than a year ago, manufacturing never stopped, and we are making more plastic than ever...all of which create greater demand for oil.

Look at the chart provided by mopartaz. It shows that oil prices are not a reflection of US political ideology as they have risen and fallen despite the party occupying the White House. They rose under Ford. They rose under Carter. They dropped under Reagan. They were up and down under Bush 1. They dropped under Clinton. They rose under dramatically with Bush 2. They rose further then fell under Obama. They rose then fell under Trump. I don't see the correlation between Democrats and Republicans and oil prices over the long term.