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Gas prices!

sean121

New member
Joined
Apr 22, 2020
Messages
9
Crude oil prices went in negative value few days back. How is that even possible. LOL
 

57Strat777

Member
Joined
Jun 10, 2015
Messages
347
Crude oil prices went in negative value few days back. How is that even possible. LOL


There is such a glut of oil right now there is no storage left to store the oil for May futures, so oil future investors apparently think it is cheaper to pay someone to take a barrel of oil than it is to deal with finding a place to store it.
 

samsdad

New member
Joined
Aug 21, 2015
Messages
406
There is such a glut of oil right now there is no storage left to store the oil for May futures, so oil future investors apparently think it is cheaper to pay someone to take a barrel of oil than it is to deal with finding a place to store it.

I was Told That the Barrels that hold the oil are now worth more than the oil itself Fuel should be below a dollar
There still making a lot of Dough
we are at 1.79 a gallon regular unleaded and 24.00 Dollars for a 100 ounces Of 105 Proof Leaded Racing fuel
 

J.D.

Well-known member
Joined
May 24, 2006
Messages
10,030
The oil is cheap, it's just pumped out of the ground. Refining it into gasoline, additives, transporting it, storing it, retailer profit, and (especially) government taxes is where all the money is.
 

sean121

New member
Joined
Apr 22, 2020
Messages
9
There is such a glut of oil right now there is no storage left to store the oil for May futures, so oil future investors apparently think it is cheaper to pay someone to take a barrel of oil than it is to deal with finding a place to store it.
Yeah, that makes sense.
 

deytookerjaabs

Well-known member
Joined
Nov 6, 2016
Messages
1,592
The oil is cheap, it's just pumped out of the ground. Refining it into gasoline, additives, transporting it, storing it, retailer profit, and (especially) government taxes is where all the money is.



It's cheap now, but in order to use tar sands or fracking the stuff has to sell at minimum $35-$50 a barrel to make it worth digging up. Yeah, it is cheap out of the well, black gold and all.



Speaking of Oil & Cheap Gas this would be a sweet time to road trip a 10mpg guzzling hot rod. I once met an oil tycoon when I worked at a gas station in Walnut Creek Ca. He parked some crazy rare foreign luxury car from the depression era in our station as he told me it had never seen a drop of rain. On that 1/100 day it was raining so when he asked me I said pull it in. I've never seen an unrestored car that old, that clean. I wish I could remember what it was. The older fella who owned it had a Texas accent so thick it took me a few seconds to decipher every word out of his mouth.
 

renderit

Well-known member
Joined
Jan 19, 2009
Messages
10,951
It's cheap now, but in order to use tar sands or fracking the stuff has to sell at minimum $35-$50 a barrel to make it worth digging up. Yeah, it is cheap out of the well, black gold and all.



Speaking of Oil & Cheap Gas this would be a sweet time to road trip a 10mpg guzzling hot rod. I once met an oil tycoon when I worked at a gas station in Walnut Creek Ca. He parked some crazy rare foreign luxury car from the depression era in our station as he told me it had never seen a drop of rain. On that 1/100 day it was raining so when he asked me I said pull it in. I've never seen an unrestored car that old, that clean. I wish I could remember what it was. The older fella who owned it had a Texas accent so thick it took me a few seconds to decipher every word out of his mouth.

I been livin' here for the last 24 years and I still cayant understands 'em.
 

wmachine

Active member
Joined
Mar 17, 2016
Messages
303
Been here the last couple weeks now.

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ScumbackSpeakers

Active member
Joined
Dec 20, 2016
Messages
247
So Cal update...Costco $2.49 per gallon for 91 octane premium, $2.29 per gallon for 87 unleaded regular as of yesterday. I read that Wisconsin has the lowest priced gas in the country, under $1 for 87 octane.

Last time I checked there weren't any gas/oil refineries near Wisconsin, buy they're 20 miles down the freeway near Torrance and San Pedro. So you know the taxes are the reason for the pricing in So Cal.
 

goldtop0

Well-known member
Joined
Aug 19, 2003
Messages
8,931
You guys have got it good......we pay US$4.68 per gallon for 91 here:wow
NZ
 
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