Gas Prices

[DaveBrabec]

Diesel still over 6 here

[21TritonX]

$3.27...but not near the $1.89 it was 20 months ago

[lakebouef5]

I saw on the news the Inflation buster bill passed in Congress yesterday, has an increased tax on gasoline. Merry Christmas.

[tcesni]

$3.27...but not near the $1.89 it was 20 months ago

And it never will be again, nor will the price of a barrel of oil be negative.

[Whiteboat]

$3.65 in Central Florida

[bass-o-maticjm]

still $4.09 by me, but saw $3.79-3.99 outside of the TC metro area

[boneil]

I saw on the news the Inflation buster bill passed in Congress yesterday, has an increased tax on gasoline. Merry Christmas.

Where's that at in the bill, I hadn't seen any raises in the gas tax?

[TampaJim]

Where's that at in the bill, I hadn't seen any raises in the gas tax?

The bill reinstates the previous import tax on petroleum. 16.4 cents per barrel.
Less than 4/10 of a penny per gallon of product if it's imported into the USA.
Fill up the monster truck and boat with 80 gallons ... that's 31 cents additional.

Again, it's only on imported petroleum products, not domestic. That's good.

[Wormer]

$5.49 in SoCal

[old373guy]

I filled up at Costco today, $4.95. It's been a while since we have paid under $5

[StretcherJockey]

https://www.caranddriver.com/news/a4...-rate-decades/

Fastest drop in over a decade.

[TampaJim]

https://www.caranddriver.com/news/a4...-rate-decades/

Fastest drop in over a decade.

Same can be stated for petroleum storage tanks. We will probably see a bump up in the next few weeks.

[Mechanic Bob]

https://www.caranddriver.com/news/a4...-rate-decades/

Fastest drop in over a decade.

Well we sure saw that coming! Jack prices up over 200% and when they lower price slightly, claim it is a good thing? Buy that crap if you want, but not me. It will be a good thing when they return to prices in 2020!

[D.O.C. 989]

Well we sure saw that coming! Jack prices up over 200% and when they lower price slightly, claim it is a good thing? Buy that crap if you want, but not me. It will be a good thing when they return to prices in 2020!

[Stein]

https://www.caranddriver.com/news/a4...-rate-decades/

Fastest drop in over a decade.

It's not a drop. It's a reduction in the increase from $2.30 a gallon to an increase of $1.50 a gallon.

[D.O.C. 989]

It's not a drop. It's a reduction in the increase from $2.30 a gallon to an increase of $1.50 a gallon.

Stop with the facts, you're stealing their thunder.

[Cajun Skeeter]

Same can be stated for petroleum storage tanks. We will probably see a bump up in the next few weeks.

Pretty sure that the bump up will come after November.

[TampaJim]

Pretty sure that the bump up will come after November.

And we're actually going backwards in imports, others are paying more for crude.
The SPR bump goes offline on 10/1, that's already being played into the price too.
One hurricane in the Gulf, escalation of the EU war, etc. The US isn't standalone.

I'd fill up now, I don't expect it to run backwards much longer. We're about there.

[boneil]

And now Europe is gonna start using oil for power generation because nat gas is so expensive and in short supply and the nuke plants are having issues because the rivers used to cool them are too hot.

[TampaJim]

And now Europe is gonna start using oil for power generation because nat gas is so expensive and in short supply and the nuke plants are having issues because the rivers used to cool them are too hot.

Yep. And folks holding off on buying heating oil here in the US, will engage by next month.
Personally, I'd pull the trigger in 3, 2, 1, now. It's about as low as she's gonna go currently.

Yes, there's a bit of room. We're at $3.679 for E10 87, we track just about national average.
I don't see any way to move below $3.50. Crude alone has a cost of +$2.00 at the source.
And it's in need of transport, storage, refining, blending, storage, transport, distribution, etc.

Just hope we don't see a hurricane enter the Gulf, that will put things into a nasty head spin.