Oil price - $31.80

[CopperSpyder]

Ok so the price of a barrel of oil on the stock market hit minus - $31.80 so that mean that they will pay us $2.56 a gallon to fill up now? :dontknow:

 

[pegasus1300]

:roflblack::roflblack::roflblack:

 

[Little Blue]

Handling Fee

No the Prices will not change that much. Remember the Handling Fee, Shipping, and of course the Taxes. :banghead: Enjoy your Day .......:thumbup:

 

[ARtraveler]

Ok so the price of a barrel of oil on the stock market hit minus - $31.80 so that mean that they will pay us $2.56 a gallon to fill up now? :dontknow:

Update. -37.83

And...not in our lifetime. nojoke

 

[bmccaffrey]

Now is the time to buy into the oil market

 

[Cobwebs]

Expect a decree linking drinking the stuff and virus benefits.:banghead:

 

[canamjhb]

It is all locally controlled. And, I think some are taking advantage. (Price fixing....?) Here in the "Valley of the Sun" the price for regular gas yesterday was consistently at $2.34 per gallon regardless of which brand or station. I rode 50 miles out of town to a small market (Casa Grande) and the price dropped to $1.75 per gallon. The further I rode away from the metropolitan Phoenix area, the lower the price. I understand that large metropolitan cities can have higher gas taxes, but I also know when someone has their hand in my pocket. Not trying to be political and hope it is not taken that way. Just pointing out the abuse that is occurring..... Jim

 

[IdahoMtnSpyder]

One of the reasons for the low oil prices is the feud between Saudi Arabia and Russia over oil production. Here's a conspiracy theory to chew on. The oil supply battle between those two was totally conjured up. Meanwhile they are cooperating in the background to flood the market causing the prices to drop precipitously to the point American producers can't compete. Keep it up just long enough until American companies go bankrupt and then jack the prices back up. Once again Russia and Saudi Arabia will dominate the oil market. Saudi oil and 50% of Russian oil are produced by state owned oil companies. They can weather the economic storm the way privately owned oil companies can't. Yep, unbridled capitalism at its best - in losing.

 

[Peter Aawen]

Talking about fuel prices, this time last year, here in South Oz we were paying about $1.50 per litre, and now that the gas price has dropped, we are STILL usually paying over $1.05/litre.... $1.20 isn't uncommon for our 91 RON equivalent to your MON 87 ULP! :shocked: That's what, 3.79 litres per US Gallon??? :dontknow: Sooo, that converts to the equivalent of near enough to $4.50 per US Gallon?!? :gaah: And you wonder why most of us Aussies keep a fairly close eye on the usable fuel range we get out of a tank of gas?! :banghead:


So really, I've just got one thing to say 'bout that...... :lecturef_smilie:







What on Earth are you lot complaining about gas prices for?!

 

[ARtraveler]

Gas prices in AR. Yesterday, 1.38 per gallon. In Springfield MO, 80 miles N or so, they were paying 1.05 per gallon. News last night said to expect a decrease of .30 or more per gallon.

We could be seeing sub $1.00 prices. :bbq:

That is upside for those paying at the pump for now.

The downside...it is all going to have a bad effect on our currently rocky economy.

 

[Mazo EMS2]

It is all locally controlled. And, I think some are taking advantage. (Price fixing....?) Here in the "Valley of the Sun" the price for regular gas yesterday was consistently at $2.34 per gallon regardless of which brand or station. I rode 50 miles out of town to a small market (Casa Grande) and the price dropped to $1.75 per gallon. The further I rode away from the metropolitan Phoenix area, the lower the price. I understand that large metropolitan cities can have higher gas taxes, but I also know when someone has their hand in my pocket. Not trying to be political and hope it is not taken that way. Just pointing out the abuse that is occurring..... Jim

Same thing happens along most of our Interstate highways. I've found that gas is generally .20/gallon higher at a station just off the interstate, but if you're willing to drive a mile or two into the local town, you save money on gas

 

[wyliec]

One of the reasons for the low oil prices is the feud between Saudi Arabia and Russia over oil production. Here's a conspiracy theory to chew on. The oil supply battle between those two was totally conjured up. Meanwhile they are cooperating in the background to flood the market causing the prices to drop precipitously to the point American producers can't compete. Keep it up just long enough until American companies go bankrupt and then jack the prices back up. Once again Russia and Saudi Arabia will dominate the oil market. Saudi oil and 50% of Russian oil are produced by state owned oil companies. They can weather the economic storm the way privately owned oil companies can't. Yep, unbridled capitalism at its best - in losing.

Is there an easy counter measure?

 

[ARtraveler]

Same thing happens along most of our Interstate highways. I've found that gas is generally .20/gallon higher at a station just off the interstate, but if you're willing to drive a mile or two into the local town, you save money on gas

:agree: x 2

 

[IdahoMtnSpyder]

Is there an easy counter measure?

You mean against the Saudis and Russians pushing American companies into bankruptcy? No, other than the anti-capitalistic choice of nationalizing American oil.

I've argued for years we should just leave our oil and natural gas in the ground and use Middle East and Russian oil and gas. Then when those sources finally dry up, we'll still have oil available! If we did curtail our domestic production then renewable energy and plastics recycling would finally have a true economic payback.

 

[bmccaffrey]

You mean against the Saudis and Russians pushing American companies into bankruptcy? No, other than the anti-capitalistic choice of nationalizing American oil.

I've argued for years we should just leave our oil and natural gas in the ground and use Middle East and Russian oil and gas. Then when those sources finally dry up, we'll still have oil available! If we did curtail our domestic production then renewable energy and plastics recycling would finally have a true economic payback.

:clap::clap::clap::clap::clap::bowdown::bowdown::bowdown::bowdown:

 

[IdahoMtnSpyder]

You know, there is another huge difference between American thinking and Middle East thinking. To our corporate and political leaders anything longer than a month is long term planning. For Middle East and Asian cultures long term planning is what, 100 years? Regardless of what we do, they will just wait us out. Our failure to appreciate and understand their long term view of life is why we got into the quagmires in SE Asia and Middle East.

 

[ThreeWheels]

In Danbury, gas was $1.79 a gallon. 8 miles away, in Georgetown , much, much wealthier community, gas was $2.79 a gallon. A little further down the road in Norwalk, it's back down to about $2,00 a gallon. Go figure.
It will never go back to $0.35 like I remember.
For one thing, even if the gasoline were totally free, there's $0.90 per gallon taxes.