Topic: Gas Prices Going Down in Your Town (Read 22149 times)

knothead · « **on:** November 03, 2014, 09:42:58 PM »

Just filled up today in Houston for $2.45 a gallon...

OBB · « **Reply #1 on:** November 04, 2014, 05:36:02 AM »

Damn, I thought $2.82 last week was a bargain (well, compared to anything else we've seen in the last 5 years $:-\$ )

pkl · « **Reply #2 on:** November 04, 2014, 06:42:57 AM »

New convenience store opened across from another in Brandon. Mini gas war had it to $2.29. Slid back to $2.49 which is still good

kiro · « **Reply #3 on:** November 04, 2014, 07:48:26 AM »

Down a bit in my area but still the cheapest around is about $3.00 a gallon.

FLSTFI Dave · « **Reply #4 on:** November 04, 2014, 08:45:22 AM »

Yea gas is down pretty low in my area. found 93 octane just under 3 dollars a gallon.

grc · « **Reply #5 on:** November 04, 2014, 08:56:41 AM »

Don't get too excited guys. It won't take long for the speculators to find some unrelated "problem" somewhere in the world to justify jacking those prices right back up. I'm so used to seeing that around here that I automatically assume any time the retail price of gasoline drops to $3.00, we will be hearing very shortly about some conflict in some other part of the world that justifies jacking up prices here immediately (even though the crude the local refineries are using was purchased under contract and that price isn't affected). OR, we get the story about having to shut down a refinery or two for maintenance, or having to switch over to winter blend from summer blend or vice verse, etc.. There is always an excuse, and for many years the biggest trigger has been anytime retail prices dropped toward $3.00 and the "experts" are predicting even lower prices, magically we see prices in this area start to climb instead. It's all a game, and while it might be fun to pizz and moan about it and use it as a conversation starter, similar to talking about the weather, ultimately it's all out of our control.

Jerry

2 ROSE · « **Reply #6 on:** November 04, 2014, 10:59:42 AM »

Yeah Jerry that is the way it goes. Another thing to beware of when prices drop is the government feeling like now is a great time to increase fuel taxes since the cost of fuel is so cheap and we now would not complain as much...but then when price of fuel goes back up...and of course it will...they never lower or remove the tax. Just saying...

skratch · « **Reply #7 on:** November 04, 2014, 03:18:46 PM »

Quote from: grc on November 04, 2014, 08:56:41 AM

Don't get too excited guys. It won't take long for the speculators to find some unrelated "problem" somewhere in the world to justify jacking those prices right back up.

i don't even think it'll take that. i'm guessing that as soon as the midterm elections are over, gas will be back up to 'normal'.....

RoadMonkey · « **Reply #8 on:** November 04, 2014, 03:22:54 PM »

today at the local QT it was $2.47 for regular, $3.77 for 93 and $3.14 on diesel

deldago · « **Reply #9 on:** November 04, 2014, 03:44:27 PM »

Quote from: ekim60 on November 04, 2014, 03:18:46 PM

i don't even think it'll take that. i'm guessing that as soon as the midterm elections are over, gas will be back up to 'normal'.....

Yep, welcome to the month before elections!

ChopperPilot · « **Reply #10 on:** November 04, 2014, 03:47:13 PM »

We dropped down to $2.55 for regular now back up around $2.73 depending where you go.

grc · « **Reply #11 on:** November 04, 2014, 03:55:29 PM »

Yesterday here in my little corner of the world the average price for regular was $2.879, and the experts were predicting it would continue to decline. This morning the Speedway stations had jacked their price up to $2.999. When the price here first hit $2.999, Speedway (Marathon) did the same thing, within a few days they bumped their price overnight back up to $3.099. That time it didn't stick because the competitors didn't follow suit, and in fact dropped their prices a couple pennies. This is what I mean about the local distributors playing games. The cost of crude to the refineries is continuing to decline, we are in a period where we no longer produce the higher cost summer blend, demand has dropped with the end of the summer travel season, and supply is more than adequate. If the market truly responded to the laws of supply and demand as they and our government would like you to believe, there would be no excuse or justification to raise prices twelve cents per gallon overnight.

Jerry

knothead · « **Reply #12 on:** November 04, 2014, 05:22:06 PM »

We have a surplus of crude oil in Houston today. All the rail yards , barges, ships, and holding tanks are FULL of crude oil. Crude dropped to under $80.00 a barrel today. The drilling rigs are starting to shut down because of the over supply of crude today. The Texas economy flows thru oil rigs... I'd rather pay $4.00 a gallon..

FLSTFI Dave · « **Reply #13 on:** November 04, 2014, 08:27:25 PM »

Quote from: knothead on November 04, 2014, 05:22:06 PM

We have a surplus of crude oil in Houston today. All the rail yards , barges, ships, and holding tanks are FULL of crude oil. Crude dropped to under $80.00 a barrel today. The drilling rigs are starting to shut down because of the over supply of crude today. The Texas economy flows thru oil rigs... I'd rather pay $4.00 a gallon..

Yup, Several Jack up companies are laying people off due to low crude prices. I would like it to stay around 85$ a barrel.

Doniwin · « **Reply #14 on:** November 04, 2014, 09:35:46 PM »

Gas in central Florida around $2.93 wish it was .93 cents.

Phantom309 · « **Reply #15 on:** November 05, 2014, 01:22:47 AM »

I don't get too excited ... this is just a little way to soften the blow (temporarily) until they break the stick off in our azzes further down the road.

knothead · « **Reply #16 on:** December 01, 2014, 09:57:13 PM »

Getting lower

porthole · « **Reply #17 on:** December 02, 2014, 08:51:31 AM »

Yesterday diesel was down to $2.939 near my work. Today it is $2.879

No doubt our governor will use this drop to push though the fuel tax he has been hinting at.

RoadMonkey · « **Reply #18 on:** January 04, 2015, 01:00:18 PM »

yesterday was $1.78 for regular and $2.09 for premium around these parts

2 ROSE · « **Reply #19 on:** January 04, 2015, 01:19:21 PM »

Quote from: porthole on December 02, 2014, 08:51:31 AM

Yesterday diesel was down to $2.939 near my work. Today it is $2.879

No doubt our governor will use this drop to push though the fuel tax he has been hinting at.

As predicted Pennsylvania has already approved a gas tax hike so that we in PA will have better roads and bridges. The problem is I will be paying more for gas and the roads and bridges will still suck.

2k · « **Reply #20 on:** January 04, 2015, 05:25:38 PM »

Boy are they raping the truckers........almost a buck a gallon dif here in NC.

Quote from: grc on November 04, 2014, 08:56:41 AM

Don't get too excited guys. It won't take long for the speculators to find some unrelated "problem" somewhere in the world to justify jacking those prices right back up. I'm so used to seeing that around here that I automatically assume any time the retail price of gasoline drops to $3.00, we will be hearing very shortly about some conflict in some other part of the world that justifies jacking up prices here immediately (even though the crude the local refineries are using was purchased under contract and that price isn't affected). OR, we get the story about having to shut down a refinery or two for maintenance, or having to switch over to winter blend from summer blend or vice verse, etc.. There is always an excuse, and for many years the biggest trigger has been anytime retail prices dropped toward $3.00 and the "experts" are predicting even lower prices, magically we see prices in this area start to climb instead. It's all a game, and while it might be fun to pizz and moan about it and use it as a conversation starter, similar to talking about the weather, ultimately it's all out of our control.

Jerry

If they can, they will hold them down until Russia is completely busted!!!!!

Billy · « **Reply #21 on:** January 04, 2015, 06:05:31 PM »

$1.95 here in NW Illinois for regular since we have snow not worried about premium Billy

bigC · « **Reply #22 on:** January 04, 2015, 07:33:04 PM »

I just filled up yesterday @ $1.78 for regular.

OBB · « **Reply #23 on:** January 04, 2015, 08:37:09 PM »

Quote from: OBB on November 04, 2014, 05:36:02 AM

Damn, I thought $2.82 last week was a bargain (well, compared to anything else we've seen in the last 5 years $:-\$ )

2 months later and we're down to $1.86

FLSTFI Dave · « **Reply #24 on:** January 04, 2015, 09:19:28 PM »

Quote from: 2 ROSE on January 04, 2015, 01:19:21 PM

As predicted Pennsylvania has already approved a gas tax hike so that we in PA will have better roads and bridges. The problem is I will be paying more for gas and the roads and bridges will still suck.

I was shocked last spring how bad the roads in PA were, Especially around Bethlahem. I had a week training up there so I Rode up. Some the pot holes about swallowed my bike, and they are just plain rough roads. The area was pretty, and I liked Bethlahem. Went to York and Gettysburg while I was up there, been to both them before.

DesertHOG · « **Reply #25 on:** January 04, 2015, 09:39:09 PM »

Quote from: OBB on January 04, 2015, 08:37:09 PM

2 months later and we're down to $1.86

Here's Albuquerque, NM today. $1.64 at Sam's Club

http://www.albuquerquegasprices.com/index.aspx?area=Albuquerque%20-%20NE&area=Albuquerque%20-%20NW&area=Albuquerque%20-%20SE&area=Albuquerque%20-%20SW

Would love to see $0.99 for nostalgia's sake.

DH

PinkE · « **Reply #26 on:** January 05, 2015, 06:45:05 AM »

$1.47 here in Crawfordsville, Indiana yesterday and still going down...News says we have the cheapest prices in the nation...

$1.42 this morning...wooHoo....

Fired00d · « **Reply #27 on:** January 05, 2015, 06:51:57 AM »

Quote from: PinkE on January 05, 2015, 06:45:05 AM

$1.47 here in Crawfordsville, Indiana yesterday and still going down...News says we have the cheapest prices in the nation...

$1.42 this morning...wooHoo....

Small world... I spent the night in Crawfordsville on the way to Sturgis in '04 and had breakfast at Diggers Cafe...

Ride Safe,
Fired00d

PinkE · « **Reply #28 on:** January 05, 2015, 10:06:18 AM »

Quote from: Fired00d on January 05, 2015, 06:51:57 AM

Small world... I spent the night in Crawfordsville on the way to Sturgis in '04 and had breakfast at Diggers Cafe...

Ride Safe,
Fired00d

We moved here in `07, Diggers café was a cute place. currently closed, loved the 30's look to it, neat ceiling fans, OK food. If your ever coming this way again, give a shout out, would love to meet you. Randy moved from LA, Ca. and I from Buffalo, NY to meet in the middle, and because we love racing, plus Randy had a job in the engine building industry, we love it here.

murphy · « **Reply #29 on:** January 05, 2015, 10:27:34 AM »

In the great white north we are paying what amounts to about $1.25 less a gallon than this time last year.... YAHOO, BRING IT ON!!!!

Bromebe · « **Reply #30 on:** January 05, 2015, 11:37:23 AM »

Must be seeing an old post Mike?
I paid $1.81 for a total of $42.00 to fill the 35 gallon tank, that was about 3/4 empty
then went back and filled the Roush with high Octane for $2.19 a gallon

keeping my cars topped off before someone wakes up and smells the crude oil!

havenolife · « **Reply #31 on:** January 05, 2015, 12:33:11 PM »

$1.71 gallon here in cincinnati

FLH91 · « **Reply #32 on:** January 05, 2015, 02:38:47 PM »

$1.88 here in Northern MI, however just got a GasBuddy alert saying prices are going up $.20. Knew it was too good to last.

FLSTFI Dave · « **Reply #33 on:** January 05, 2015, 09:09:10 PM »

While these low gas prices as a result of sub 55 and now sub 50 dollars a barrel cude oil are great for filling our trucks, cars, bikes and what every, its bad for many Americans.

The SD job boom is going bust, as are the companies. There are masive layoffs. Halliburton has laid off over 1000 people in 30 days. Serveral off shore drilling companies have laid off hundereds. All the major Oil companies have cut capital expendatures 25% or more for 15. That is construction jobs, that is manufacturing, rig building and so on. 20% o our econimic recovery or more depending on what you read was do to the expansion and growth of oil and gas, now its shrinking fast.

I just got a 10K cut in my retirement contribution from my emplyoer, why because with these prices, the drilling company lost money. We have laid people off, and I force pay cuts very soon.

I see the American drilling compines, the smaller ones going out of business as it costs more than 50 a barrel to drill in the USA. Its 70 to 75 for break even, and closer to 85 in SC fracking. Saudi saw we were set to produce more oil than they do, so they are flooding the market to drive the price down. Once we in the USA contract our drilling capabilitys and production, they will reduce their output and drive price back up.

2 ROSE · « **Reply #34 on:** January 06, 2015, 01:16:07 AM »

Hey Dave,
It is an interesting predicament we, the USofA find ourselves in. We, as well as the other nations of the world rely heavily on oil. However due in part to our own massive government over regulation and environmental opposition it has become unprofitable to extract our own oil...just as I am sure the powers to be have planned. For decades we as a nation have been neutered to become the oil bitch of the middle east. Whats the answer and at what cost? I do believe we should be using our own oil thence cutting ties with the middle eastern countries. However, if what you say is true then it appears the only way to extract our own oil would be with government subsidies making the down trodden american people picking up the tab once again for yet another unprofitable company/industry...wheres it end???
What you say about the cost of oil going back up after we relax our intent of extracting our own oil is true. Bush2 merely announced intentions of drilling for our own oil and opec or who ever dictates oil prices immediately lowered the price. They have us by the balls and intend to keep it that way.
I am not unsympathetic for your plight Dave, but it appears your situation is the same direction that the country has been headed in for years. I hope it can be worked out for you and our nation. Good Luck to us all...
Hmmm, upon review...am I being a little too overly dramatic???

Sarhan · « **Reply #35 on:** January 06, 2015, 01:58:58 AM »

(it’s related to politics) all what I can say this is new campaign leaded by Arabian Gulf and USA to put more pressure on other governments/country’s.

It looks this time will takes little longer until oil price back to the normal price, by lowering oil price they automatically screwed the black market as well

Fired00d · « **Reply #36 on:** January 06, 2015, 09:20:10 PM »

Quote from: PinkE on January 05, 2015, 10:06:18 AM

We moved here in `07, Diggers café was a cute place. currently closed, loved the 30's look to it, neat ceiling fans, OK food. If your ever coming this way again, give a shout out, would love to meet you. Randy moved from LA, Ca. and I from Buffalo, NY to meet in the middle, and because we love racing, plus Randy had a job in the engine building industry, we love it here.

I heard they had closed... third guy from the left in the picture went back to Sturgis this year and stopped by Crawfordsville, went by there and found it had closed. If I ever get out that way again I will definitely let you know. One of the reasons we ended up in Crawfordsville was because it was the closest place to Indiana Speedway (it was a race during the time we were travelling) we could find a couple rooms.

Ride Safe,
Fired00d

TXGator · « **Reply #37 on:** January 07, 2015, 04:00:03 PM »

I haven't seen sub $2.00 yet here in N FL.

OBB · « **Reply #38 on:** January 07, 2015, 05:51:34 PM »

Back up to $2.09. I can deal with that.

PinkE · « **Reply #39 on:** January 08, 2015, 06:40:04 AM »

Jumped from $1.42 to $1.72 overnight, but it's coming down says gasbuddy....Glad I filled up over the weekend...

Rooster · « **Reply #40 on:** January 08, 2015, 03:57:58 PM »

$2.15-$2.50 here in Oregon
GO DUCKS!!!!!!!!!!!!!!!!!!

dayne66 · « **Reply #41 on:** January 08, 2015, 04:23:22 PM »

A buck a liter here on the Island...down from 1.25....but diesel is still up there at around 1.16/l

skratch · « **Reply #42 on:** January 08, 2015, 10:54:13 PM »

anyone seen anything like this?

$2.15.9 for regular, and then $3.55.9 for high test. yeah, $1.40 a gallon more for high test.

OBB · « **Reply #43 on:** January 09, 2015, 06:14:24 AM »

Quote from: ekim60 on January 08, 2015, 10:54:13 PM

anyone seen anything like this?

$2.15.9 for regular, and then $3.55.9 for high test. yeah, $1.40 a gallon more for high test.

Haven't paid any attention to be honest. With the bike on the jack for the winter, I don't have any use for high test.

DesertHOG · « **Reply #44 on:** January 10, 2015, 11:17:28 PM »

Quote from: OBB on January 09, 2015, 06:14:24 AM

Haven't paid any attention to be honest. With the bike on the jack for the winter, I don't have any use for high test.

$1.669 today and it wasn't even the cheapest, supposed to be $1.619 at Costco.

DH

North Georgia Hawg · « **Reply #45 on:** January 10, 2015, 11:57:30 PM »

Paid $2.09 for regular for the Avy the other day, and was thrilled. Cheapest gas I've bought in ages! Georgia gas prices are a bit higher because of our state taxes... but we do have some of the best-maintained roads in the US, so I'm not complaining.

Ken

twoasone · « **Reply #46 on:** January 11, 2015, 02:07:29 PM »

$1.89 in my corner of Iowa.

RoadMonkey · « **Reply #47 on:** January 15, 2015, 05:55:29 PM »

1.72 for regular today.... but you know we use premium

TinSpinner · « **Reply #48 on:** January 15, 2015, 06:31:42 PM »

Saw regular priced below $2 for the first time in a long time, $1.9899 at the Racetrac station near me. I can finally fill up my truck before the pump stops at $100.

knothead · « **Reply #49 on:** January 15, 2015, 07:19:48 PM »

With the Kroger Card... I'm NOT liking this...local oil and gas company announced today 9,000 jobs will be lost

DaBigNuttedMan · « **Reply #50 on:** January 15, 2015, 08:11:21 PM »

Quote from: knothead on January 15, 2015, 07:19:48 PM

With the Kroger Card... I'm NOT liking this...local oil and gas company announced today 9,000 jobs will be lost

how much did the Kroger card knock off? we do that here too, on another note just paid $1.54 in town tonight at an admiral station. Are you guys all using Gas Buddy the phone app?

harsh1828 · « **Reply #51 on:** January 15, 2015, 09:07:49 PM »

Yep, the layoffs have started here too! They are laying rigs down as fast as they are done with the hole they are on. This is going to hurt a lot of businesses in this area. Not good at all.

North Georgia Hawg · « **Reply #52 on:** January 16, 2015, 12:12:59 AM »

Don't know if it's the only reason, but from what I've been reading OPEC is keeping prices low to put pressure on all the new American shale oil producers and drive them out of business. We need domestic oil price protection to take care of our own producers. It's pathetic how many trillions of dollars have flowed out of the U.S. to OPEC countries during my lifetime!

Ken

FLSTFI Dave · « **Reply #53 on:** January 16, 2015, 07:17:52 AM »

Quote from: knothead on January 15, 2015, 07:19:48 PM

With the Kroger Card... I'm NOT liking this...local oil and gas company announced today 9,000 jobs will be lost

Many US drillers are laying off. The big Oil companies have cut Capital Expenditures in the USA by 25% or more. Capital Expenditures is the building and buying new equipment, that hurts everyone not just oil and gas people.

Quote from: harsh1828 on January 15, 2015, 09:07:49 PM

Yep, the layoffs have started here too! They are laying rigs down as fast as they are done with the hole they are on. This is going to hurt a lot of businesses in this area. Not good at all.

There are 37 shale rigs that are shutting down as soon as they finish the hole they are on. Lots of good paying jobs gone. Hurts everyone.

FLSTFI Dave · « **Reply #54 on:** January 16, 2015, 07:24:44 AM »

Quote from: North Georgia Hawg on January 16, 2015, 12:12:59 AM

Don't know if it's the only reason, but from what I've been reading OPEC is keeping prices low to put pressure on all the new American shale oil producers and drive them out of business. We need domestic oil price protection to take care of our own producers. It's pathetic how many trillions of dollars have flowed out of the U.S. to OPEC countries during my lifetime!

Ken

There is lots of Truth to that. Saudi and UAE both want price per barrel low to put American oil and gas out of business. We were on track to be the largest driller. Takes 75 or so a barrel for most American oil to be profitable.

OIL and gas price is not set by the companies, but rather the commodities market. So Saudi and the rest of OPEC have not slowed production, they are keeping it high, even though demand has gone way down. The old supply and demand, not much demand now world wide, and much more supply now.

This is really hurting Russia bad now. China demand has really slowed. The effect of this glut of oil is global.

Guess the drill baby drill worked, to well.

knothead · « **Reply #55 on:** January 16, 2015, 07:37:40 AM »

Quote from: FLSTFI Dave on January 16, 2015, 07:17:52 AM

Many US drillers are laying off. The big Oil companies have cut Capital Expenditures in the USA by 25% or more. Capital Expenditures is the building and buying new equipment, that hurts everyone not just oil and gas people.

There are 37 shale rigs that are shutting down as soon as they finish the hole they are on. Lots of good paying jobs gone. Hurts everyone.

Just this week we had a customer cancel there order on 2 Mack winch trucks and a vacuum trailer....This equipment is used at the drill sight...feeling the pain

Bromebe · « **Reply #56 on:** January 16, 2015, 07:52:24 AM »

Ouch Mike!
what's the commission on a Mach!

our business is All oil and gas related "Trade show Convention contractor"
and we are seeing allot of cut backs, "lets do this to just get by" request

Thought Mattress Mac had gone crazy again the other day when he said he's give all your money back on furniture you bought
if price per barrel hit $85.00 or more again by December!
Then I saw the Sheik of some sand trap
say never again will the price of oil be like it was?
never say never

DesertHOG · « **Reply #57 on:** January 16, 2015, 09:31:10 AM »

Seeking out opinions on the following.

1. Could some of this be orchestrated to attack Putin and Russia for their actions against the Ukraine and Crimea?
2. With the drastic drop in Energy Fund prices, would you invest in Energy considering a 5 yr time horizon?

Have at it guys and gals.

muddypaws · « **Reply #58 on:** January 16, 2015, 10:10:56 AM »

Richmond, Virginia regular $1.66...

Royalroadie · « **Reply #59 on:** January 16, 2015, 04:36:30 PM »

$1.68 in Kansas City

willyB · « **Reply #60 on:** January 16, 2015, 07:39:42 PM »

Finally after many years of being ripped off by the oil industry the price is at point where the average man can afford it.

Those of us not living off the oil industry are very happy. I'll take a $1.65 anytime over $3.65.

knothead · « **Reply #61 on:** January 16, 2015, 08:30:20 PM »

This thread could easily become a bitch session pending on where you live..

red ben59 · « **Reply #62 on:** January 16, 2015, 09:26:07 PM »

Quote from: knothead on January 16, 2015, 08:30:20 PM

This thread could easily become a bitch session pending on where you live..

Think you are right on point knothead, This is really affecting our members that are in business related to oil. It really hurt me when I was paying $5.00 for my diesel work trucks, can't make any any money if I can't afford to put my trucks, tools and people on the construction site. I don't know where a happy middle ground is at.

MIKEYTEE · « **Reply #63 on:** January 16, 2015, 09:44:01 PM »

$ 1.72 for 87 octane cash or debit.
$ 2.84 for 94 octane non ethanol.
$ 2.76 for diesel.
$ 1.59 for E-85.
Today at Horizon.

Mike

FLSTFI Dave · « **Reply #64 on:** January 17, 2015, 07:32:24 AM »

Quote from: knothead on January 16, 2015, 08:30:20 PM

This thread could easily become a bitch session pending on where you live..

Fully agree. Lots of industries will be hard hit, by this not just oil and gas. Lots of states will be hard hit, not just SD and TX.

Quote from: red ben59 on January 16, 2015, 09:26:07 PM

Think you are right on point knothead, This is really affecting our members that are in business related to oil. It really hurt me when I was paying $5.00 for my diesel work trucks, can't make any any money if I can't afford to put my trucks, tools and people on the construction site. I don't know where a happy middle ground is at.

Price of diesel is just stupid and has been. Back in the 90's and early 2000's I use to mess with my wife, it was more cost effective to drive my 1 ton crew cab dually than her six cylinder SUV.

The ultra low sulfur mandate has driven the cost high.

When the industry cuts Capital Expenditures by over 25% it effects many industries, truck manufacturing, ship building, steal making, construction, trucking, equipment manufacturing and many more. This Capital expenditure cutback is causing the stock market to go down.

Many people will not have to worry about how cheap gas is, cause at 1.90 a gallon they will no longer have a job to pay for it.

2k · « **Reply #65 on:** January 17, 2015, 07:59:35 AM »

Still over 2 bucks a gallon here in NC.......................wooo hooo

knothead · « **Reply #66 on:** January 17, 2015, 08:01:24 AM »

Quote from: FLSTFI Dave on January 17, 2015, 07:32:24 AM

Fully agree. Lots of industries will be hard hit, by this not just oil and gas. Lots of states will be hard hit, not just SD and TX.

Price of diesel is just stupid and has been. Back in the 90's and early 2000's I use to mess with my wife, it was more cost effective to drive my 1 ton crew cab dually than her six cylinder SUV.

The ultra low sulfur mandate has driven the cost high.

When the industry cuts Capital Expenditures by over 25% it effects many industries, truck manufacturing, ship building, steal making, construction, trucking, equipment manufacturing and many more. This Capital expenditure cutback is causing the stock market to go down.

Many people will not have to worry about how cheap gas is, cause at 1.90 a gallon they will no longer have a job to pay for it.

very well said...economist suggest the economy needs to readjust every 7 years...election is next year..if you listen to the chatter in the underground news..We all need to start being self supportive. I don't know a damn thing about raising my own meat and produce.

HogBreath · « **Reply #67 on:** January 17, 2015, 10:01:20 AM »

My wife bitches at me for peeing off the porch.
She bitches if I pee on the porch.
We bitch when fuel is too high.
We bitch when it's too low.

2k · « **Reply #68 on:** January 17, 2015, 12:32:00 PM »

Quote from: HogBreath on January 17, 2015, 10:01:20 AM

My wife bitches at me for peeing off the porch.
She bitches if I pee on the porch.
We bitch when fuel is too high.
We bitch when it's too low.

Thanks for the best gut laugh I've had this week, Ken!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

BUCKNUT GREG · « **Reply #69 on:** January 17, 2015, 03:08:14 PM »

North Georgia Hawg · « **Reply #70 on:** January 17, 2015, 09:33:52 PM »

OK, I'm not an economic guru, or an energy industry guru... and I didn't stay at a Holiday Inn Express last night. What follows are just my own opinions.

All previous comments considered... the American economy literally lives on oil. Like it or not, oil has been the lifeblood of our economy for the last century. Our economy is very complex, and oil runs all through it... Not only for energy, but also for petrochemicals that are used in just about any product you can think of. Oil is so intertwined in our economy, and the impacts of its price are so far-reaching - it's difficult for anyone to predict what will happen in the next 6 months, year, three years, five years, or longer.

Cheap oil has been good for us in the past, but we must remember that OPEC still calls the shots because their oil is relatively clean and easy to get out of the ground. Now, I just read today that the Saudi fields have been predicted to run dry by 2030 or so. Don't know if that's true - but even if it is, they have a good 15 years to hold the U.S. economy by the short curlies... and they seem to have every intention of doing so. Even when we pump our own oil aggressively, it's not price competitve with Saudi oil because of the cost of getting it extracted and available. We are damned if we do and damned if we don't, it would appear.

And yes, I do think that oil prices are putting intense pressure on Russia. We'll have to see how that shakes out... but I think it will have a short-term destabilizing effect on the energy markets, and also on Russia's international behavior. Kinda scary with Putin at the helm there.

I said before, and I'll repeat... I think its time to implement oil price protection to protect US producers. Don't think that we are "being screwed" by Big Oil. Tech companies like Apple, Mocrosoft, Google, etc. make 35% to 50% profit on their goods - but no one seems to complain. Big Oil has historically made only about 7% to 10% profit, but everyone goes into a hissy fit about it. It's ludicrous. And no, I am not in the energy business - so I have no dog in that hunt.

DesertHOG asked about investing in energy. I personally would not at this time, due to the instability and unpredictability of the energy markets right now. I was considering an investment in Liquified Natural Gas (LNG) terminal operators... but with the precipitous drop in oil prices, the market for LNG will almost certainly be negatively affected.

Ditto renewables... solar, wind, geothermal, etc. I think this market will continue to grow - and that's a good thing - but a large part of the cost justification for renewables is the price of oil. Renewables have HUGE upfront capital investment requirements, and it's much more difficult to justify these investments when oil is at $50/bbl. Heck, oil could conceivably drop down into the 20s before price stabilization.

A related but not yet mentioned topic is electric cars. With oil cheap, electric cars make little sense. Frankly, I don't think they have ever made much sense, because electricity is a derived energy source. It must be generated by using some other fuel... in the US, mostly coal in the east and natural gas in the west (albeit with increasing wind power in the west). Since the current administration HATES coal and has had the EPA trying to put the coal business out of business, I don't think that burning more coal (or even natural gas) to produce electricity that is then used to charge electric cars makes much sense anymore - if it ever did in the first place.

Finally, in regard to "orchestration" of the recent oil price drop... that's anyone's guess. Let's just say that I wouldn't be surprised at much of ANYTHING anymore...

Ken

North Georgia Hawg · « **Reply #71 on:** January 17, 2015, 09:38:22 PM »

Quote from: HogBreath on January 17, 2015, 10:01:20 AM

My wife bitches at me for peeing off the porch.
She bitches if I pee on the porch.
We bitch when fuel is too high.
We bitch when it's too low.

Quote from: knothead on January 17, 2015, 09:20:50 PM

And my wife is still bitch'n about me wearing overhauls since I meet you you in Arkansas in 09 Hogbreath...

ROTFLMFAO at both of these posts!

Ken

FLSTFI Dave · « **Reply #72 on:** January 18, 2015, 08:01:39 AM »

Ken,

Pretty good post, you are spot on with Big oil making only 7-9% profit where most all other industries make 20% or more.

The demand for gas has gone down in the USA and most the rest of the world, which is part of why we have High Supplies.

Demand has gone down in part because autos get much better fuel milage. It also went down during the economic down turn since the housing crash. People were and are not driving as much.

We are seeing regular at 1.95, paid 2.24 for 93 yesterday and diesel is at 2.75.

2k · « **Reply #73 on:** January 18, 2015, 04:36:51 PM »

I agree with most of Ken's statements, the exception:

I don't think they have ever made much sense, because electricity is a derived energy source. It must be generated by using some other fuel..

Most of the electricity in my area & the Catawba River Chain is Hydro generated, but the cost per Kw/hr flows with the cost of oil when oil goes up, electricity goes up.....not so much when oil goes down electricty stays pretty flat. I am not a analyst by any means, but somethings rotten in Demark.

North Georgia Hawg · « **Reply #74 on:** January 19, 2015, 07:20:48 PM »

Quote from: 2k on January 18, 2015, 04:36:51 PM

I agree with most of Ken's statements, the exception:

I don't think they have ever made much sense, because electricity is a derived energy source. It must be generated by using some other fuel..

Most of the electricity in my area & the Catawba River Chain is Hydro generated, but the cost per Kw/hr flows with the cost of oil when oil goes up, electricity goes up.....not so much when oil goes down electricty stays pretty flat. I am not a analyst by any means, but somethings rotten in Demark.

Quite true... I neglected to mention hydro, which supplies about 7% of the U.S. total. Not a very big piece of the total pie down here in the south, but quite significant out west and up north in certain areas. I would think its price would be totally independent of oil... apparently oil accounts for a mere 1% of US electric power production anyway, and there shouldn't be any correlation nor justification for price moves like that.

I found this info from http://www.eia.gov/tools/faqs/faq.cfm?id=427&t=3 :

In 2013, the United States generated about 4,058 billion kilowatthours of electricity. About 67% of the electricity generated was from fossil fuel (coal, natural gas, and petroleum), with 39% attributed from coal.

In 2013, energy sources and percent share of total electricity generation were:

Coal 39%
Natural Gas 27%
Nuclear 19%
Hydropower 7%
Other Renewable 6%
Biomass 1.48%
Geothermal 0.41%
Solar 0.23%
Wind 4.13%
Petroleum 1%
Other Gases < 1%

I also didn't mention nuclear, which is 1/5 of the total US production... even though we haven't built a new nuke plant in decades. I personally think nuclear is something we should be doing more of... provided it's done correctly. But I've also read that most US nuke fuel has been coming from old dismantled Soviet nuclear warheads for many years, governed by an agreement that will run out soon.

Ken

knothead · « **Reply #75 on:** January 20, 2015, 06:52:46 AM »

Quote from: North Georgia Hawg on January 19, 2015, 07:20:48 PM

Quite true... I neglected to mention hydro, which supplies about 7% of the U.S. total. Not a very big piece of the total pie down here in the south, but quite significant out west and up north in certain areas. I would think its price would be totally independent of oil... apparently oil accounts for a mere 1% of US electric power production anyway, and there shouldn't be any correlation nor justification for price moves like that.

I found this info from http://www.eia.gov/tools/faqs/faq.cfm?id=427&t=3 :

In 2013, the United States generated about 4,058 billion kilowatthours of electricity. About 67% of the electricity generated was from fossil fuel (coal, natural gas, and petroleum), with 39% attributed from coal.

In 2013, energy sources and percent share of total electricity generation were:

Coal 39%
Natural Gas 27%
Nuclear 19%
Hydropower 7%
Other Renewable 6%
Biomass 1.48%
Geothermal 0.41%
Solar 0.23%
Wind 4.13%
Petroleum 1%
Other Gases < 1%

I also didn't mention nuclear, which is 1/5 of the total US production... even though we haven't built a new nuke plant in decades. I personally think nuclear is something we should be doing more of... provided it's done correctly. But I've also read that most US nuke fuel has been coming from old dismantled Soviet nuclear warheads for many years, governed by an agreement that will run out soon.

Ken

interesting percentages...and we're generating more wind power than petro! We are seeing hundreds of wind blades being imported thru our shipping ports bound for the West Texas wind farms.

Bromebe · « **Reply #76 on:** January 21, 2015, 08:49:42 AM »

As the man says, "depending on where you live"

I was in Midland / Odessa in September last year
Paid $325.00 for a hotel room at Motel 6
breakfast cost me almost $20
pulling out onto a main road was like playing Russian Rulet! with all the oilfield trucks,
stood in line for almost 30 minutes at the 7/11 to buy a drink
and
now, I'm sure it's back to the way it was two or three years ago!
a dog could lay in the middle of a intersection for hours and not have to move!

greglyon · « **Reply #77 on:** January 21, 2015, 03:15:50 PM »

reg $1.73 or $1.69 cash in Phoenix
loyalty cards provide a 20-40 cent/gallon discount

Dr.D · « **Reply #78 on:** January 21, 2015, 03:58:23 PM »

Well hear are my uninformed thoughts.

I have always been suspicious of gas prices. I see it go up and down several cents a day for days which the same damn gas in the underground tank that the owner bought a month ago. Price change every tank i can see but same gas different price reeks of false pretenses.

I live in coal country and Obama needs to stay the F--k up there with people who like his kind.

Electric cars burn coal, period.

The tax on gas can be above .40 per gallon and I purchase it with after tax dollars so that constitutes an illegal double taxation.

Gauntlet down lets bitch.

FLSTFI Dave · « **Reply #79 on:** January 21, 2015, 08:34:28 PM »

Big layoffs have been announced. Baker Hughes laying off 7000 people. Schlumberger announced plans to cut 9,000 employees. Several others laying off. These are just the service companies, not even counting the drilling companies. http://www.usatoday.com/story/money/2015/01/20/baker-hughes-latest-hit-by-oil-slump-to-lay-off-7000/22042433/

These are only the direct hits, many more jobs will be hit as a result of these layoffs in may industries, such as hotels, restaurants, transportation and so on.

I have been hit hard by it, about 35% of my total compensation is gone. This is the company no longer putting 10% of my base into my 401K, 10% pay cut, and loss of my retention bonus. That bonus was 20% of my income for the last 8 years.

knothead · « **Reply #80 on:** January 21, 2015, 08:50:45 PM »

Quote from: FLSTFI Dave on January 21, 2015, 08:34:28 PM

Big layoffs have been announced. Baker Hughes laying off 7000 people. Schlumberger announced plans to cut 9,000 employees. Several others laying off. These are just the service companies, not even counting the drilling companies. http://www.usatoday.com/story/money/2015/01/20/baker-hughes-latest-hit-by-oil-slump-to-lay-off-7000/22042433/

These are only the direct hits, many more jobs will be hit as a result of these layoffs in may industries, such as hotels, restaurants, transportation and so on.

I have been hit hard by it, about 35% of my total compensation is gone. This is the company no longer putting 10% of my base into my 401K, 10% pay cut, and loss of my retention bonus. That bonus was 20% of my income for the last 8 years.

sorry to hear your pain Dave, I'm feeling it as well in my sector, our sales are down 60% YTD... I want to pay $4 bucks a gallon!

DesertHOG · « **Reply #81 on:** January 22, 2015, 07:19:05 PM »

Quote from: FLSTFI Dave on January 21, 2015, 08:34:28 PM

Big layoffs have been announced. Baker Hughes laying off 7000 people. Schlumberger announced plans to cut 9,000 employees. Several others laying off. These are just the service companies, not even counting the drilling companies. http://www.usatoday.com/story/money/2015/01/20/baker-hughes-latest-hit-by-oil-slump-to-lay-off-7000/22042433/

These are only the direct hits, many more jobs will be hit as a result of these layoffs in may industries, such as hotels, restaurants, transportation and so on.

I have been hit hard by it, about 35% of my total compensation is gone. This is the company no longer putting 10% of my base into my 401K, 10% pay cut, and loss of my retention bonus. That bonus was 20% of my income for the last 8 years.

Sorry to hear this Dave. Same thing happen in the Aerospace company I work at about 6 yrs ago. No layoffs but 10% pay-cut, 401k match reduced 50% (still not fully restored), no raises, bonuses very in company stock that only matured in 3 yrs assuming your stayed on. Was a slow road back. Would not like to be there again. Feel for you and yours.

Simon

FLSTFI Dave · « **Reply #82 on:** January 22, 2015, 09:24:06 PM »

Thanks Simon and Knotted.

I count my blessings in this, I am not one of the ones being Laid off like Schlumberger and Baker People. I still have a job, and I can live on what I make with the pay cuts. Even if lay offs come in my company Maintenace is one of the last to ever go. Even if the ship stops drilling, it has to be maintained while at anchor or sitting on DP. So I do count my blessings. Also the industry has been though this before and rebounded.

I feel it will be a year or two of pain, and it will rebound.

ultrarider123 · « **Reply #83 on:** January 23, 2015, 08:21:07 AM »

Quote from: FLSTFI Dave on January 22, 2015, 09:24:06 PM

Even if lay offs come in my company Maintenace is one of the last to ever go. Even if the ship stops drilling, it has to be maintained while at anchor or sitting on DP. So I do count my blessings

The ray of sunshine in this downturn for you, Dave, and as you stated, it's just a down turn for a while. I, like you, feel for those that aren't so lucky.

It's soapbox time for me here:
While I am happy for the cheap gas, I'm just about to my limit on everyone spouting the notion that this is a "pay raise" for families. Has nobody noticed the cost of healthcare lately? Any "extra" money coming from the less expensive gas will be going to healthcare costs that have skyrocketed and that's true whether it's a company benefit or you get your insurance through the affordable care act. So next time somebody makes the statement "this cheaper gas means more money in the family budget", point them to your insurance rates and costs and set the record straight.
Rant completed.....

smkymtnboy · « **Reply #84 on:** January 23, 2015, 11:04:37 AM »

my take on the gas prices. almost all the statements made in this thread are true on both sides. I do feel for you guys working in the energy related fields. I being on the other side took the same hit when the oil prices jumped then jumped again.my fuel costs went from 600-700 a day to 1300 to 1440 per day almost overnight. ouch! that's per day.and it got worse from there. layoffs, pay cuts for some really good men.!it was a grim depressing time. so yes, I do feel you guys pain. Bottom line no matter what!! political intervention from any point in the world is not good. You cannot beat free enterprise! oil got expensive. gold got expensive. beef got expensive. all of those commodities will get cheaper. then the cycle starts over again and again. supply and demand. oil companies can try to influence prices. that to is only temporary. this energy at cheap prices will pass. the oil companies are not the problem. the problem is so many good folks associated with oil related jobs will suffer. put yourselves in a good position to weather the storm. the sun will shine again on the energy fields.is it time to buy oil related investments. most likely!! would you want to buy them when they were sky high. most pay good dividends while you position yourself til share prices appreciate for your investment. good luck to all you guys in the energy related fields,things will turn around. I do not care what the sheik or whatever he calls himself says about 100.00 oil a thing of the past. he is wrong! my costs have dropped due to cheaper fuel. guess its time for me to prepare and position myself for the oil price increase that will come. and it will come. nobody, has to agree just think about it.

smkymtnboy · « **Reply #85 on:** January 23, 2015, 11:11:42 AM »

Quote from: North Georgia Hawg on January 19, 2015, 07:20:48 PM

Quite true... I neglected to mention hydro, which supplies about 7% of the U.S. total. Not a very big piece of the total pie down here in the south, but quite significant out west and up north in certain areas. I would think its price would be totally independent of oil... apparently oil accounts for a mere 1% of US electric power production anyway, and there shouldn't be any correlation nor justification for price moves like that.

I found this info from http://www.eia.gov/tools/faqs/faq.cfm?id=427&t=3 :

In 2013, the United States generated about 4,058 billion kilowatthours of electricity. About 67% of the electricity generated was from fossil fuel (coal, natural gas, and petroleum), with 39% attributed from coal.

In 2013, energy sources and percent share of total electricity generation were:

Coal 39%
Natural Gas 27%
Nuclear 19%
Hydropower 7%
Other Renewable 6%
Biomass 1.48%
Geothermal 0.41%
Solar 0.23%
Wind 4.13%
Petroleum 1%
Other Gases < 1%

I also didn't mention nuclear, which is 1/5 of the total US production... even though we haven't built a new nuke plant in decades. I personally think nuclear is something we should be doing more of... provided it's done correctly. But I've also read that most US nuke fuel has been coming from old dismantled Soviet nuclear warheads for many years, governed by an agreement that will run out soon.

Ken

anybody notice coal at 39%. Obama will not be prez forever!! Peabody energy (btu). the coal patch is ready for a nice turnaround. man, how did we get into this? this a biker forum! I am going to clean up my bike.

PinkE · « **Reply #86 on:** January 23, 2015, 11:34:22 AM »

Here in Indy today...$1.42 but it's going up today, one has already jumped to $2.19 WTF? All of them will follow and by tonight they will all be up there. The weekend is near...lol

FLSTFI Dave · « **Reply #87 on:** January 23, 2015, 09:13:01 PM »

smkymtnboy,

I agree with much of your post. I obviously make my living in the oil patch. Several years ago, 100 plus a barrel oil was to high, way to high when gas was 4.50 plus. Hurt many people, especially truckers. This sub 50 a barrel oil is hurting many people also, not just us oil patch, but all our suppliers, truckers, and so on. This is to low, and will also hurt much of the country just like the greater than 100 a barrel did.

Hopefully it will find a happy medium around 70 to 80 a barrel.

My fear is if Saudi is correct and they will keep out put up, driving many small to medium drilling and oil companies out of business, then Supply will go way down, demand will go way up in relation and it will sky rocket because there is no reserve capacity for drilling or production.

I also believe many will make some bad decisions due to the cheep gas. They will by much larger vehicles and much less fuel efficient, the when gas sky rockets, which it will, end of this year or two years, these folk will not be able to fill them up at 4.50 a gallon.

smkymtnboy · « **Reply #88 on:** January 23, 2015, 09:31:03 PM »

Quote from: FLSTFI Dave on January 23, 2015, 09:13:01 PM

smkymtnboy,

I agree with much of your post. I obviously make my living in the oil patch. Several years ago, 100 plus a barrel oil was to high, way to high when gas was 4.50 plus. Hurt many people, especially truckers. This sub 50 a barrel oil is hurting many people also, not just us oil patch, but all our suppliers, truckers, and so on. This is to low, and will also hurt much of the country just like the greater than 100 a barrel did.

Hopefully it will find a happy medium around 70 to 80 a barrel.

My fear is if Saudi is correct and they will keep out put up, driving many small to medium drilling and oil companies out of business, then Supply will go way down, demand will go way up in relation and it will sky rocket because there is no reserve capacity for drilling or production.

I also believe many will make some bad decisions due to the cheep gas. They will by much larger vehicles and much less fuel efficient, the when gas sky rockets, which it will, end of this year or two years, these folk will not be able to fill them up at 4.50 a gallon.

hey dave! I think you may be right!! the Saudis may pump at 50 bucks a barrel, but I do not think the rest of world will follow at least very much longer.do not know what company employs you. you might consider investing in their shares. do not know whether it will take a year or two , but you will probably not regret it. the world will need oil and lots of it. your industry is in a slump why not take advantage of it!!

r0de_runr · « **Reply #89 on:** January 24, 2015, 06:35:20 PM »

$1.64 for regular.

Marble Falls Texas yesterday.

And its the Hill Country.

And it's a rear round riding season.

FLSTFI Dave · « **Reply #90 on:** January 24, 2015, 08:37:59 PM »

Quote from: smkymtnboy on January 23, 2015, 09:31:03 PM

hey dave! I think you may be right!! the Saudis may pump at 50 bucks a barrel, but I do not think the rest of world will follow at least very much longer.do not know what company employs you. you might consider investing in their shares. do not know whether it will take a year or two , but you will probably not regret it. the world will need oil and lots of it. your industry is in a slump why not take advantage of it!!

I work for the only off shore drilling company that is a buy right now on there stock. I plan on buy some, as its normally in the 55 to 60 a share range but down to 26 or so right now. There is a reason we are the only one who is a buy. Ensco PLC is who I work for. Ticker ESV.

2 ROSE · « **Reply #91 on:** January 25, 2015, 10:15:34 AM »

Quote from: FLSTFI Dave on January 24, 2015, 08:37:59 PM

I work for the only off shore drilling company that is a buy right now on there stock. I plan on buy some, as its normally in the 55 to 60 a share range but down to 26 or so right now. There is a reason we are the only one who is a buy. Ensco PLC is who I work for. Ticker ESV.

Hmmm...scary thought...whats to stop those Saudis from buying it all up???
...just saying what if...

smkymtnboy · « **Reply #92 on:** January 25, 2015, 11:19:30 AM »

Quote from: 2 ROSE on January 25, 2015, 10:15:34 AM

Hmmm...scary thought...whats to stop those Saudis from buying it all up???
...just saying what if...

the board of directors and the shareholders

moscooter · « **Reply #93 on:** January 25, 2015, 11:26:42 AM »

Just filled up my Avalanche in Little River, S.C. It was $1.96 for Regular. Many of us in So.East No. Carolina will go across the state line to fill up. North Carolina State sales tax on gas is 21.5 cents a gallon higher than in South Carolina.........so it's usually worth driving a few extra miles for a fill up.

OBB · « **Reply #94 on:** January 25, 2015, 11:30:55 AM »

Quote from: moscooter on January 25, 2015, 11:26:42 AM

Just filled up my Avalanche in Little River, S.C. It was $1.96 for Regular. Many of us in So.East No. Carolina will go across the state line to fill up. North Carolina State sales tax on gas is 21.5 cents a gallon higher than in South Carolina.........so it's usually worth driving a few extra miles for a fill up.

Especially on those 31 gallon tanks. I try to never let any of mine get below 1/4 tank. Makes it easier on the wallet and keeps fuel around that fuel pump in the tank to help prevent it from burning up. I've only had to replace one on the three I own and that was due to the rusty lines on the top of the pump.

DesertHOG · « **Reply #95 on:** January 25, 2015, 03:16:58 PM »

Albuquerque, NM as of yesterday at Sam's Club

2k · « **Reply #96 on:** January 25, 2015, 06:12:21 PM »

Going back up?

? Went up .08 in SC overnite.

TXGator · « **Reply #97 on:** January 27, 2015, 08:27:47 PM »

Just seeing it below $2 for regular and about $2.30 for Hi test...

moscooter · « **Reply #98 on:** January 28, 2015, 08:42:47 AM »

"Going back up?

? Went up .08 in SC overnite."

2K....I didn't look at the map to see how far you might have to go to cross the border and fillup in So. Carolina, I only have to go about 8 miles from my house.

iski · « **Reply #99 on:** June 27, 2017, 09:41:22 AM »

Gas prices lower on July 4 than January 1. Increased supply - domestic - can drive prices lower, even during peak Summer driving season. Hurricanes or major refinery interruption could change this scenario. For some this proves/dispels the "evil gas company raise prices for no legitimate reason" narrative. For others, nah, they are Evil Gas McEvilfaces no matter what.
------------------------------------------------------------------------------------------------------------------------------------------------
https://www.usatoday.com/story/money/cars/2017/06/27/july-4-gas-prices/428964001/

Gas prices stun analysts: July 4 lower than Jan. 1

Talk about fireworks.

For the first time its 17-year history, consumer data tool GasBuddy is projecting that gasoline prices will be lower on the Fourth of July than they were on New Year's Day.

The stunning reversal in fortune is a direct result of crude oil's unexpected decline in 2017 amid a growing realization that the global glut of petroleum production isn't going away anytime soon.

For consumers, that translates into unforeseen savings just in time for the heart of the summer travel season.

GasBuddy is projecting a nationwide average of $2.21 per gallon on July 4, which would be 12 cents lower than the price at the year's inception. That's also the lowest price on Independence Day since 2005.

It's "quite the dramatic turnaround" after previous projections that gasoline would near $3 per gallon this summer, GasBuddy petroleum analyst Patrick DeHaan said.

Americans save $4 million per day for every 1 cent drop, DeHaan said. "It really adds up," he said.

At least one station in 35 states is already offering gas for less than $2 per gallon.

Gas is typically 47 cents more expensive on July 4 than on the previous Jan. 1, according to GasBuddy. The usual variation is largely due to lower demand in the wintertime.

"A fundamental principle of the way gas prices work is you never see gas prices lower on the largest, most popular summer driving holiday than you do on New Year's Day," DeHaan said. "For anybody who would have told you that's true, you'd probably think they belong in an asylum."

Prices have been diving for several weeks as global oil prices contracted. Nationwide prices were averaging $2.26 on Tuesday afternoon, down 11.8 cents from a month ago.

The U.S. energy industry has continued pumping oil and natural gas at a steady clip, keeping supplies high despite an effort by the Organization of the Petroleum Exporting Countries (OPEC) to boost prices through production cuts.

The price of West Texas Intermediate oil, the U.S. benchmark crude, has been trading in the $42 to $44 range over the last week. Less than a month ago, oil was trading above $50 and experts were projecting prices of $60 to $70 later this year. That now looks unlikely.

DeHaan said gas prices probably already peaked for the year, barring a major hurricane that disrupts U.S. refineries.

JCZ · « **Reply #100 on:** June 27, 2017, 10:24:36 AM »

I go through a whole lot more diesel than I do gas.......prices are way down here in San Diego.

iski · « **Reply #101 on:** June 27, 2017, 11:03:19 AM »

Diesel is lower here as well. Until a cost effective alternative to oil as an energy source is readily available, we should produce enough oil to meet our needs to decrease reliance on foreign imports. A side effect of this would be lower oil related energy costs, as long as supply is somewhat greater than demand.

As to what the world eventually converts to is a guess at this point. Doubtful I will live that long. Like these gas powered V-Twins a lot, someday that could be ancient history.

2soaper · « **Reply #102 on:** June 27, 2017, 07:59:14 PM »

If I remember correctly and I probably don't I think we were supposed to be out of oil by now at least that's what the government and the oil companies were saying back in the early 70's.......

Supershooter · « **Reply #103 on:** June 27, 2017, 10:16:57 PM »

Quote from: iski on June 27, 2017, 11:03:19 AM

Diesel is lower here as well. Until a cost effective alternative to oil as an energy source is readily available, we should produce enough oil to meet our needs to decrease reliance on foreign imports. A side effect of this would be lower oil related energy costs, as long as supply is somewhat greater than demand.

As to what the world eventually converts to is a guess at this point. Doubtful I will live that long. Like these gas powered V-Twins a lot, someday that could be ancient history.

Corn makes ethanol, but ethanol has its supporters and critics. We can make many more gallons of ethanol annually if that's what the market tells the ethanol industry to do. Regionally ethanol has be very beneficial to rural America.

Supershooter

Twolanerider · « **Reply #104 on:** June 27, 2017, 11:06:50 PM »

Filled up at my favorite spot about a mile and a quarter from the house and just outside the city limits for $1.81 tonight. According to Bureau of Labor Stats' CPI comparator that's 30 cents in 1971 dollars and a dime in 1931 dollars. I'm not complaining, even a little bit.

iski · « **Reply #105 on:** June 28, 2017, 02:02:55 AM »

Quote from: Supershooter on June 27, 2017, 10:16:57 PM

Corn makes ethanol, but ethanol has its supporters and critics. We can make many more gallons of ethanol annually if that's what the market tells the ethanol industry to do. Regionally ethanol has be very beneficial to rural America.

Supershooter

Is popular in your area, am no fan of ethanol. Buy non ethanol whenever I can. Present federal program regarding ethanol, considering the high cost, etc. is "the perfect federal program." We have plenty of dino oil in the ground, more cost effective.

moscooter · « **Reply #106 on:** June 28, 2017, 07:13:48 AM »

Quote from: iski on June 28, 2017, 02:02:55 AM

Is popular in your area, am no fan of ethanol. Buy non ethanol whenever I can. Present federal program regarding ethanol, considering the high cost, etc. is "the perfect federal program." We have plenty of dino oil in the ground, more cost effective.

I agree, I'm no fan of enthanol either. It has been a nightmare for the marine industry and other sources that use small gasoline engines e.g. chainsaws, leaf blowers, lawn mowers, etc. It's all a giant subsidy for the corn farmers and damned if they haven't been trying to increase the percentage of the stuff in the fuel supply which would distroy even more engines.

muddypaws · « **Reply #107 on:** June 28, 2017, 07:30:38 AM »

Regular $1.83 Tappahonnick , VA

FLSTFI Dave · « **Reply #108 on:** June 28, 2017, 08:29:57 AM »

Quote from: Supershooter on June 27, 2017, 10:16:57 PM

Corn makes ethanol, but ethanol has its supporters and critics. We can make many more gallons of ethanol annually if that's what the market tells the ethanol industry to do. Regionally ethanol has be very beneficial to rural America.

Supershooter

Ethanol is not cost effective for the consumer. Sure its great for the farmers. Its also not good for our food bill, cost of food has gone up due to Ethanol production, it takes corn and drives the cost up, which drives the cost up for feed.

Quote from: iski on June 28, 2017, 02:02:55 AM

Is popular in your area, am no fan of ethanol. Buy non ethanol whenever I can. Present federal program regarding ethanol, considering the high cost, etc. is "the perfect federal program." We have plenty of dino oil in the ground, more cost effective.

I hate ethanol. It is miserable for my boat, and it never goes in my boat. Its bad for small engines too. Luckily in my area, non ethanol is readily available as 87 or 93 octane.

I had an E-85 car. I ran one tank of E-85 in the car, the mpg went from 30 Hwy on gas, to 24 mpg on Ethanol. Sure not cost effective to run that crap.

iski · « **Reply #109 on:** June 28, 2017, 08:52:35 AM »

Quote from: FLSTFI Dave on June 28, 2017, 08:29:57 AM

Ethanol is not cost effective for the consumer. Sure its great for the farmers. Its also not good for our food bill, cost of food has gone up due to Ethanol production, it takes corn and drives the cost up, which drives the cost up for feed.

I hate ethanol. It is miserable for my boat, and it never goes in my boat. Its bad for small engines too. Luckily in my area, non ethanol is readily available as 87 or 93 octane.

I had an E-85 car. I ran one tank of E-85 in the car, the mpg went from 30 Hwy on gas, to 24 mpg on Ethanol. Sure not cost effective to run that crap.

To me that is the kicker. It costs more, it has a federal subsidy, it takes land used for food & shifts it to energy (unlike some other potential ethanol crops), and it has increased the cost of feed. A great deal for those who farm corn, for others, not so much.

Had a lot of small engine fuel issues several years back. Had to buy new stuff in some cases, not worth the repair. Switched to non ethanol gas for small engines, no problems since. Already had the happiest day of a boat owner's life - I sold mine - but when I had it I bought marine gas (non ethanol). Boat before that had to have carbs rebuilt because of it, that's why I switched.

One more

.... is not transported - my understanding - unless by truck/rail because it is so corrosive. It has decreased our dependence on foreign oil. But it was done by a "perfect federal program" - subsidize a product that cannot make it on it's own in a free market, and is less efficient and costs more than the product it is supposed to replace. The stuff of congressional wet dreams.

Supershooter · « **Reply #110 on:** June 28, 2017, 10:41:28 PM »

I've experienced issues in small engines with ethanol. It isn't perfect.
But I disagree with the claims of increased food price, after the corn is processed to make ethanol a high percentage of what went in comes back out as human grade food or livestock feed that's cost effective for livestock production.
Fwiw, when corn is $4.00 a bu the is only $0.02 worth of corn in a box of corn flakes. The wholesale product has little to do with food price. The cattle maket lost over 40% of its value in 2016, ground beef in our local grocery stores changed less than 20%.
Ethanol blends in Iowa are typically 10-15% cheaper than Dino fuel... So we figure a decrese in performance by 10% therefore we just do the math and make our choice.
It's an option, the end

Supershooter

Mikey · « **Reply #111 on:** June 28, 2017, 11:07:13 PM »

Save the corn for Whiskey!
Fuel in Oklahoma is under $2.00 and we wish it was much more, we need the money.

iski · « **Reply #112 on:** June 29, 2017, 12:31:24 AM »

Yes, corn for whiskey and bourbon is the absolute best use!

The artificial ethanol market does create a higher price for corn, than the food market or feed markets only would create. Can be argued but ethanol diverts a large amount of corn - which is grown on land that could be utilized to grow corn for the food/feed markets - to the ethanol market. This has an effect on worldwide corn pricing considering the amount of market share we grow.

As to cost of fuel, decreased mileage and performance is not always a 1:1 ratio as to decrease in price depending on the region. In many places, there is no option for non ethanol that is easily available. It is one of the worst federal programs I have seen in my lifetime.

Disclosure: my family has benefited financially from growing corn used for ethanol production. As ethanol increased demands for corn years ago, we made more money. Prior to ethanol, we grew corn more for feed purposes, small amount, and grew other crops for $$.

Twolanerider · « **Reply #113 on:** June 29, 2017, 01:24:35 AM »

Wonder if ethanol could make better pie?

I know, wrong site.

iski · « **Reply #114 on:** June 29, 2017, 01:58:06 AM »

Research results are affirmative:

Bean pie produces methane.

iski · « **Reply #115 on:** June 29, 2017, 08:33:39 AM »

An alternative agricultural energy fuel source, federally legislated, could have bean beans instead of corn. Farmers would be paid to grow beans, and each person would be required by federal law to consume at least one pound of beans per week. Congress would name this act: Federal Agriculture Re-energizing of Transportation Systems (FARTS). A gas collection system would be installed in each residence, business, public building, rest stop, and rest room. Citizens would be required to make use of the facility - a collection nozzle (attached to each citizen where the sun don't shine) with a large hose attached to a vacuum to collect gas. Oil companies would be required to collect gas from these collection stations weekly. Automobile manufacturers would be required to produce a number of vehicles each year - starting at 15% - that would run on methane gas. Many subsides and tax incentives would be introduced, but would be offset by enormous multi layer taxes on beans, collection stations, volume of gas produced by bean consumers, and collection nozzles. The price of nozzle lube (syn or dino?) would skyrocket.

Bean prices would increase dramatically overnight, farmers would make more money. People would feel good (no not just from passing gas) because they are helping the environment. Government would collect enormous taxes and increase power by giving out some paltry tax cuts to their favored constituents. Mileage per gallon would decrease, price of fuel would increase to cover costs plus taxes.

Exceptions would be California, Chicago, and several other places that would double/triple methane gas taxes as compared to other places and require only certain types of beans to be consumed by their citizens (called Cafe' blends). Methane gas in these areas would cost 30 to 50% more than other areas, but their citizens are used to that already.

A darn shame we did not adopt beans the Magic Fruit years ago instead of corn for energy, we might have farted our way to energy independence by now.

grc · « **Reply #116 on:** June 29, 2017, 09:03:41 AM »

Quote from: FLSTFI Dave on June 28, 2017, 08:29:57 AM

Ethanol is not cost effective for the consumer. Sure its great for the farmers. Its also not good for our food bill, cost of food has gone up due to Ethanol production, it takes corn and drives the cost up, which drives the cost up for feed.

I hate ethanol. It is miserable for my boat, and it never goes in my boat. Its bad for small engines too. Luckily in my area, non ethanol is readily available as 87 or 93 octane.

I had an E-85 car. I ran one tank of E-85 in the car, the mpg went from 30 Hwy on gas, to 24 mpg on Ethanol. Sure not cost effective to run that crap.

EXACTLY! The only time ethanol was even close to being cost effective was when we the taxpayers were heavily subsidizing the price. Now that those subsidies have been removed, E85 is priced similar to or higher than regular gasoline but gives much lower mpg.

Even if auto makers were to equip every new vehicle to be fully E85 capable (extra sensors and processors, fuel system corrosion upgrades, injectors, etc.), so that the higher ethanol content wouldn't harm the vehicle, you would still have lower efficiency as the percentage of ethanol was increased. The biggest problem is all those engines for everything from lawnmowers and chainsaws to boats do not have all the extra sensors and feedback closed loop systems to adjust the mixture. An engine set up to run properly on straight gasoline, or even E10, will be extremely lean when run on anything with more ethanol in it.

We need to go back to using corn to feed humans and animals. Sadly all the connected special interest folks with the big ethanol producing facilities are fighting to not only maintain the status quo, but to allow and eventually mandate even higher percentages of ethanol. E15 is being pushed by their lobbyists right now, and unfortunately our ignorant and ethically challenged representatives are liable to fall for the BS they're peddling.

JMHO - Jerry

Author Topic: Gas Prices Going Down in Your Town (Read 22149 times)