Fuel/Gas Prices

[Steve 0080]

Has anyone given thought as to why the price of gas went up, why it is coming down or why the stock market is having fit...something bad is coming..... Diesel under $2 never thought I would see that in the rest of my life ....Just filled up for $60...the most I ever put in was $210...scratching my head !

[3Chief]

It was all artificially controlled and now its imploding...someone is still making money on this mess...

[Steve 0080]

True that...I believe there are 20-30 people who rule the earth using us as pawns !!!

[ths61]

Has anyone given thought as to why the price of gas went up, why it is coming down or why the stock market is having fit...something bad is coming..... Diesel under $2 never thought I would see that in the rest of my life ....Just filled up for $60...the most I ever put in was $210...scratching my head !

Could it be that deforestation caused by the habitual printing of worthless money has used up all of the paper stock and the balloon is about to burst ? The account has been overdrawn for a long time and Obie is finally running out of checks and gullible nations to accept them. China has wised up and stopped buying our debt.


Gas prices still near $4/gal in the PRK. Wish we had Michigan's prices of 47.9 cents/gal.

Gas Price Hits 47 Cents a Gallon in Michigan After Price War

The price of gas hit a stunning low -- just 47 cents per gallon -- in Michigan on Sunday.

Michigan was the first state to have gas under $1 in likely over a decade, Patrick DeHaan, senior petroleum analyst at GasBuddy.com, told ABC News today.

http://a.abcnews.go.com/images/US/ht_michigan_gas_low_02_mm_160118_12x5_1600.jpg

http://abcnews.go.com/US/michigan-gas-station-hits-47-cents-price-war/story?id=36358859

[ths61]

Here are a couple of other data points:

It really is the stock market’s worst. year. ever.

The opening days of 2016 are the worst-ever for the venerable Dow Jones Industrial Average. That’s according to Howard Silverblatt, the man who meticulously tracks the performance of the Dow, the S&P 500 and sundry other market metrics at S&P Dow Jones Indices. To be clear, the first 12 days of trading in a given year have never been this lousy for returns, based on records stretching all the way back to 1897.

http://qz.com/598758/it-really-is-the-stock-markets-worst-year-ever/

Global depression around the corner? Ship cargo rates at all-time low

The global economy appears to be in danger. The Baltic Dry Index, an indicator of international cargo trade, has fallen to its all-time low.

In the past, the index is notorious for falling ahead of some of the biggest economic depressions – including the dot com bust in 2000 and the great recession of 2008.

http://www.hellenicshippingnews.com/global-depression-around-the-corner-ship-cargo-rates-at-all-time-low/

I thought the world was running out of oil for the past 40+ years ? :shrug:

Oil plumbs new lows below $27 as oversupply woes persist

U.S. oil prices crashed below $27 dollars a barrel on Wednesday for the first time since 2003, caught in a broad slump across world financial markets with traders also worried that the crude supply glut could last longer.

Oil has fallen more than 25 percent so far this year, the steepest such slide since the financial crisis, piling more pain on oil drillers and producing nations alike. Yet they keep pumping more oil into an oversupplied market.

http://www.reuters.com/article/us-global-oil-idUSKCN0UY04U

[Old Ryder]

Here are a couple of other data points:

It really is the stock market’s worst. year. ever.

The opening days of 2016 are the worst-ever for the venerable Dow Jones Industrial Average. That’s according to Howard Silverblatt, the man who meticulously tracks the performance of the Dow, the S&P 500 and sundry other market metrics at S&P Dow Jones Indices. To be clear, the first 12 days of trading in a given year have never been this lousy for returns, based on records stretching all the way back to 1897.

http://qz.com/598758/it-really-is-the-stock-markets-worst-year-ever/

Global depression around the corner? Ship cargo rates at all-time low

The global economy appears to be in danger. The Baltic Dry Index, an indicator of international cargo trade, has fallen to its all-time low.

In the past, the index is notorious for falling ahead of some of the biggest economic depressions – including the dot com bust in 2000 and the great recession of 2008.

http://www.hellenicshippingnews.com/global-depression-around-the-corner-ship-cargo-rates-at-all-time-low/

I thought the world was running out of oil for the past 40+ years ? :shrug:

Oil plumbs new lows below $27 as oversupply woes persist

U.S. oil prices crashed below $27 dollars a barrel on Wednesday for the first time since 2003, caught in a broad slump across world financial markets with traders also worried that the crude supply glut could last longer.

Oil has fallen more than 25 percent so far this year, the steepest such slide since the financial crisis, piling more pain on oil drillers and producing nations alike. Yet they keep pumping more oil into an oversupplied market.

http://www.reuters.com/article/us-global-oil-idUSKCN0UY04U


Yep---all lines up with what I have heard and read.

It is really a combination of 2 big events.

1-China has an economy that is really slowing down. They have become the world center for manufacturing and either the world is requiring less or the world is looking elsewhere because of the poor quality of the items produced. Their lack of demand is producing a glut of oil combined with factor #2

2-The US has discovered how to mine oil in the Dakodas, Montana, and all the area up there. They always knew there was oil there, but it was contained in shale (rock) and was not able to pump out in convention methods. Then in the mid 2000's, somebody figured out how to pump steam underground and extract the oil from the rock and suddenly the US has become one of---if not the largest oil producers of oil on the planet---again. They are now controling the market more than OPEC. When I was on the Victory boards, there were a number of roughnecks that moved there for the "boom"---they said that if you could weld 2 pieces of metal together, you could get hired at a base pay of $35 per hour with all the overtime you desire. One guy paid for his Victory Vision in a few months.

http://www.ibtimes.com/hard-times-boomtown-usa-rise-fall-oil-williston-north-dakota-2224834

I read a lot---maybe too much.

[willtill]

Would be nice if there was a way to pre-purchase a large volume of gas at these low prices (5,000 gallons or so); and then redeem it over time at the fuel pumps when the price jumps back up.

[Bob Penn]

Can anybody remember what we were paying for gas the last time crude was selling for $27.00 a barrel? You know before the Bush administration declared a crude shortage. Seems to me it was under $1.00 a gallon. So why are we now paying 30% more under Obama? Seems we can't win when the game is rigged by the Gods of Washington.

I have noticed though, the Russians are upset as their oil based economy is faltering Yugoslavia and the Arabs are losing their ability to buy munitions. HMMMMM sounds like a good plan to me!

I might even change the oil in my bike this month!

[Retired Army]

Does all this mean the price of cars will fall accordingly?

[jm21ddd15]

Last summer a barrel of crude was slightly over $100. Now it is around $27. A barrel hold 55 gallons, and there are 4 quarts in each gallon. So there are 220 quarts in each barrel. Since the price of a barrel has dropped by approx. $75, or 75%, why do we still pay between $4 -$6 for a quart of oil at our Dealers and auto parts stores. Gas should not be the only petroleum product that the price should drop significantly. Some how, the oil companies are still making very good profits, despite what we see on Wall Street.

[Old Ryder]

Last summer a barrel of crude was slightly over $100. Now it is around $27. A barrel hold 55 gallons, and there are 4 quarts in each gallon. So there are 220 quarts in each barrel. Since the price of a barrel has dropped by approx. $75, or 75%, why do we still pay between $4 -$6 for a quart of oil at our Dealers and auto parts stores. Gas should not be the only petroleum product that the price should drop significantly. Some how, the oil companies are still making very good profits, despite what we see on Wall Street.


Forget that!!!! What about the cost of roof shingles. When those prices skyrocketed it was blamed on the price of crude. They have not come down at all!

[ths61]

Yep---all lines up with what I have heard and read.

It is really a combination of 2 big events.

1-China has an economy that is really slowing down. They have become the world center for manufacturing and either the world is requiring less or the world is looking elsewhere because of the poor quality of the items produced. Their lack of demand is producing a glut of oil combined with factor #2

2-The US has discovered how to mine oil in the Dakodas, Montana, and all the area up there. They always knew there was oil there, but it was contained in shale (rock) and was not able to pump out in convention methods. Then in the mid 2000's, somebody figured out how to pump steam underground and extract the oil from the rock and suddenly the US has become one of---if not the largest oil producers of oil on the planet---again. They are now controling the market more than OPEC. When I was on the Victory boards, there were a number of roughnecks that moved there for the "boom"---they said that if you could weld 2 pieces of metal together, you could get hired at a base pay of $35 per hour with all the overtime you desire. One guy paid for his Victory Vision in a few months.

http://www.ibtimes.com/hard-times-boomtown-usa-rise-fall-oil-williston-north-dakota-2224834

I read a lot---maybe too much.

With respect to #2, Iran will be also be producing more oil once the sanctions are lifted and the ME oil producers are trying to put the US oil production industries out of business. The last one standing with the deepest pockets wins.

Oil price crash: rout reaches $27 as Opec warns US shale will be forced to relent

Cartel says persistent low prices will finally begin to bite for rival producers, as cost for some barrels of US crude turn negative

Oil slumped to below $28 a barrel in early morning trading on Monday - its lowest level since September 2003 - as traders digested news of Iran's return to the world's over-supplied markets.

http://www.telegraph.co.uk/finance/oilprices/12105170/Oil-falls-to-27-as-Opec-warns-US-cannot-withstand-price-rout.html

[fxdl2051]

True that...I believe there are 20-30 people who rule the earth using us as pawns !!!
63 of the wealthiest people have as much wealth a 3.5 billion of the poorest.

[Davidk]

Notice that the economy tanked when gas went up and tanked again when gas went down?

Ups, fedex, airlines, etc all charges gas surcharges. Where's our surdiscounts?

[shooter]

Not only that David but most of my part as suppliers charge a gas surcharge , and they haven't gone down. Two of my tire suppliers and one parts supplier charge between 3 and 5 bucks daily. I sell welding gasses and other types of gas. Between hazmat and fuel surcharges its about 3 dollars a tank. These guys are getting rich on surcharges.

[Dirtstiff's F6B]

Banks have subsidized oil, gas, coal and other energy exploration. The banks are taking the biggest hit right now, causing the monetary value hit equivalent in the stick market.
Self sustained energy, glut in supply and Iraq are just adding to the negative side of the equation. Futures have also over invested months back, so that investment is also trying to become whole.. China just adds confusion to the market picture.

[Steve 0080]

Can anybody remember what we were paying for gas the last time crude was selling for $27.00 a barrel? You know before the Bush administration declared a crude shortage. Seems to me it was under $1.00 a gallon. So why are we now paying 30% more under Obama? Seems we can't win when the game is rigged by the Gods of Washington.

I have noticed though, the Russians are upset as their oil based economy is faltering Yugoslavia and the Arabs are losing their ability to buy munitions. HMMMMM sounds like a good plan to me!

I might even change the oil in my bike this month!



This could be due to the devalued dollar...What ever the reason or who is behind it...it's getting ready to BLOW !!!!!!'windy'

[wjduke]

Not only that David but most of my part as suppliers charge a gas surcharge , and they haven't gone down. Two of my tire suppliers and one parts supplier charge between 3 and 5 bucks daily. I sell welding gasses and other types of gas. Between hazmat and fuel surcharges its about 3 dollars a tank. These guys are getting rich on surcharges.

We use one supplier as little as possible for this reason shooter. They added the gas surcharge when it was around $4 a gallon and never took it off. They're the only ones that show it as a line item. Pretty dumb if you ask me. At least take it off and add a couple bucks to the tire. It's ATD ( American Tire Distributors ) Not sure if you use them. I believe they're nationwide.

[shooter]

Believe it or not Wayne they charge me the least. Dropped from $4 to $2 last summer. Nobody else dropped the price. I just changed trash companies. They were charging $6 a month on once a week service. I have a 2 year contract with the new company for no surcharge. It will save me a little over $140 the next two years. That's a lot of gas for the B.

[wjduke]

ATD is on a mission to steal our customers. They have a local warehouse and an ex employee worked there for a bit. Use them only as a last option.

[shooter]

Wayne I get my best prices and service from them. No complaints.

[wjduke]

You would here too. We're a fairly large company and cover a multi state area...we're a target, not a customer!

[Doug44]

This could be due to the devalued dollar...What ever the reason or who is behind it...it's getting ready to BLOW !!!!!!'windy'

Steve I don't think anyone knows when or where but I wish you did I would follow your lead ! :crackup::banghead:

[edgeman55]

Gas is still right around 2.00 a gallon here in Northern Nevada but we do have higher gas tax then a lot of states-good news is they use it to keep our roads in really great condition.You can always tell when you cross into California from Nevada as your suspension really starts to work hard.With the stock market doing what the media calls a readjustment LOL.What is going to get hit hard is public pension funds which need those investments to keep up with all the projected costs.Wait till states and citys start cutting back on retirees $'s.Let the crying begin.But the 1% keep paying themselves no matter what the economic climate-CEO of JP Morgan just gave himself a 35% raise to 27 million while his company laid off 6700 middle class jobs in 2015.Wonder if he is worried about fuel prices for his private jet or Bentley!

[Dave Ritsema]

Just paid $1.47 for regular in northern Indiana

[MOODY]

Last summer a barrel of crude was slightly over $100. Now it is around $27. A barrel hold 55 gallons, and there are 4 quarts in each gallon. So there are 220 quarts in each barrel. Since the price of a barrel has dropped by approx. $75, or 75%, why do we still pay between $4 -$6 for a quart of oil at our Dealers and auto parts stores. Gas should not be the only petroleum product that the price should drop significantly. Some how, the oil companies are still making very good profits, despite what we see on Wall Street.

Oil comes in 42 gallon bbls has to be highly refined depending on gravity, the blacker the lower the grade, WTI (West Texas Intermediate) where i'm from is a middle grade, I'm not a chemist so can't tell you what yield is on oil to gas, but 1 bbl oil will yield from mineral spirits to grease.

[jm21ddd15]

You are correct, my mistake on the comment of 55 gallons in a bbl of crude. I did a Google search on the issue of, how much gasoline from 1 bb of crude. The answer I got was, crude is heated to 370 degrees. it evaporates, and the lighter molecules rise up 1st, then is separated, and cooled back to liquid form. These are usually gasoline products, then a bit heavier for diesel, etc. The article stated a 42 gal bbl of crude will produce approximately 19 gallons of gas, 10 gallons of diesel, 4 gallons of jet fuel, and 9 gallons of "other" petrol products. That is a lot of products from a $27 barrel. Anyway, I'm no chemist, so I can't verify what the article stated. I was just interested. :shrug: I am enjoying filling my fuel tank nowdays. Was $1.67 in town today.

[Doug44]

Gas is still right around 2.00 a gallon here in Northern Nevada but we do have higher gas tax then a lot of states-good news is they use it to keep our roads in really great condition.You can always tell when you cross into California from Nevada as your suspension really starts to work hard.With the stock market doing what the media calls a readjustment LOL.What is going to get hit hard is public pension funds which need those investments to keep up with all the projected costs.Wait till states and citys start cutting back on retirees $'s.Let the crying begin.But the 1% keep paying themselves no matter what the economic climate-CEO of JP Morgan just gave himself a 35% raise to 27 million while his company laid off 6700 middle class jobs in 2015.Wonder if he is worried about fuel prices for his private jet or Bentley!

IL has the highest fuel taxes in the nation but it doesn't help our roads, our politicians steal it all. Our last 2 governors were in prison at the same time but final one of them got out. Our last one is in his 2nd year of an 14 year sentence

[shooter]

You've got a president that should be in the same cell with him.

[jaygollner]

IL has the highest fuel taxes in the nation but it doesn't help our roads, our politicians steal it all. Our last 2 governors were in prison at the same time but final one of them got out. Our last one is in his 2nd year of an 14 year sentence

Indiana is worse, they are now talking about passing a wheel tax. Right now I have 18 wheels in my garage and may have to think about selling a vehicle or two if this crappy law passes.

[Bob Penn]

Hey good news from Russia this morning. There's rioting in the streets due to lay-offs of governmental workers because the government can't afford to pay them thanks to the falling oil prices.
I wonder how long they will be able to afford the bombing in Syria especially considering their friends in Iraq will soon be dumping more oil into the all ready flooded market.
I wonder how the people of the Ukraine feel about all this. Paybacks are a bitch you know!

Hmmm sounds like the plan might be working.

Now what really worries me is weather the price of Vodka will go up for us, or down; down, due to naturally, increasing the exports of the product to off set the oil sales loses. Or will they go up due to a lack of product thanks to the increase demand in homeland consumption.

One can only hope

[ths61]

IL has the highest fuel taxes in the nation but it doesn't help our roads, our politicians steal it all. Our last 2 governors were in prison at the same time but final one of them got out. Our last one is in his 2nd year of an 14 year sentence


Indiana is worse, they are now talking about passing a wheel tax. Right now I have 18 wheels in my garage and may have to think about selling a vehicle or two if this crappy law passes.

Illinois and Indiana's gas taxes are peanuts compared to the PRK. Last year when gas prices were dropping, the PRK added another 40 cent/gal tax to keep the prices up and those extra taxes don't go to road maintenance. The PRK will not allow gas produced from other states to be sold here which further keeps the prices high. Average price in LA is still over $3/gal with some places charging close to $4/gal.

The PRK has been pushing energy efficient vehicles, reported gas sales have lowered (probably because people can not afford the fuel) and they are claiming a deficit (well, stop wasteful spending on $100+ Billion trains to nowhere). To address the deficit, the PRK is considering taxing by the mile so they can doublely screw petroleum users and singly screw electric/hybrid users.

[shooter]

Brother you need to move. We have room for you in MO. Our state is in the black. How many can say that!!

[Bob Penn]

Illinois and Indiana's gas taxes are peanuts compared to the PRK. Last year when gas prices were dropping, the PRK added another 40 cent/gal tax to keep the prices up and those extra taxes don't go to road maintenance. The PRK will not allow gas produced from other states to be sold here which further keeps the prices high. Average price in LA is still over $3/gal with some places charging close to $4/gal.

The PRK has been pushing energy efficient vehicles, reported gas sales have lowered (probably because people can not afford the fuel) and they are claiming a deficit (well, stop wasteful spending on $100+ Billion trains to nowhere). To address the deficit, the PRK is considering taxing by the mile so they can doublely screw petroleum users and singly screw electric/hybrid users.

We had a governor who put through a 50 cent per gallon tax, supposedly for road work, last year. We still have the tax but we don't have that Governor any more. Seems that one term loser lost in a land slide.
Now we have a governor who can't pass a budget! The new loser wants to throw more money supposedly at education, but it seems like the legislation can't figure out how to pay the tax on the fuel to transport the students!
HMMMM we elect them??????

[shooter]

Ths61 , empty your inbox. Its full.

[ths61]

Ths61 , empty your inbox. Its full.

Thanks, Taken care of.