How much is gas where you are?

[SteveH]

I remember when I had my first Red Bull.

It was my last.

[cameraman]

It scares me, I smelled it once and there's no way on earth I was going to drink it.

[SteveH]

Oil Drillers ‘Going to Die’ in 2Q on Crude Price Swoon
(http://www.bloomberg.com/news/2015-01-22/oil-drillers-going-to-die-in-2q-on-crude-price-swoon.html)

pretty dire article

so is this one

Oil boomtown: 'We could see 20,000 layoffs by June'
(http://money.cnn.com/2015/01/22/news/economy/oil-boomtown-layoffs/index.html)

[G.]

I remember when I had my first Red Bull.

It was my last.

I was wickedly hung-over, facing a 8 hour car ride home (passenger, thankfully).

Buddy says, "Drink this. These are awesome. And it has no aftertaste." He actually took the energy and oxygen to say that it had no aftertaste. On purpose. :yuck:

It was a 9 hour road trip, eating an overdose quantity of Tums trying to survive to get home. (we stopped for an hour so I could bury his corpse alongside of 90 in Wis. It only took an hour - I was highly motivated.) :flaming:


This is the same guy that bought the booze for different weekend. He bought cases and cases of this new stuff called Zima.

Indiana liquor stores closed at midnight Saturday night. We made the drive to Michigan. Again, highly motivated.

I miss him sometimes. :laugh:

;)

[Gnam]

$2.39 for 87.

[dando]

Up to $2.19 in Cbus despite the continued drop in the price of oil. (6-year low now)

[opinionated ow]

Because our dollar isn't worth very much at the moment we're paying $2.93USD/UDG which looks much better when you write it as $0.997/L AUD/L

[G.]

Went up about 30 cents overnight. $2.29 now.

[TravelGal]

Still hanging at $1.89 at the Hess here in Clearwater.

[TKGAngel]

OT, but the Target job cuts are related to their disastrous foray into the Canadian market. Who knew our brothers to the North don't like a company based in South Ontario (i.e., Minnesota).

Gas prices staying steady around $2 a gallon in my part of town. Chicago needs to get their refiners back on line.

I paid $2.38/gallon this morning. It was nice to fill my tank for less than $20.

To your comment on Target Canada, the whole experience is just a giant 'what not to do when entering a new market' case study.

[KLang]

Don't get used to the low gas prices if the Steelworkers union goes on strike. :irked:

[Gnam]

Workers strike for new pact at nine U.S. oil, chemical plants

(Reuters) - Union workers took to picket lines on Sunday after strikes were called at nine U.S. refineries and chemical plants in a bid to pressure oil companies to agree to a new national contract covering workers at 63 plants.

The walkouts, the first held in support of a nationwide pact since 1980, target plants that together account for about 10 percent of U.S. refining capacity. The discord comes as plunging crude prices force oil companies to slash spending.

The United Steelworkers union (USW) said Royal Dutch Shell Plc, the lead industry negotiator, halted talks after the union rejected a fifth proposal from the company.

http://www.reuters.com/article/2015/02/01/us-refineries-labor-strikes-idUSKBN0L514B20150201

The last line of the article was the best:

"Attacks on Kirkuk will drive up prices, but a strike by the USW will not," said Andrew Lipow of Lipow Oil Associates."

What a bunch of crap. They raise the price for anything. A 10% reduction in their refining capacity won't cause a price increase? Yeah right.

One of the closed Tesoro plants is in the Bay Area. Apparently, it was only operating at half capacity due to maintenance. However, California can't import gas from other states due to the special low emission winter blend we have to use. Any lost production must be made up at other plants in California, which are already at capacity.

I'll be interested to see how much prices go up tomorrow.

[SteveH]

Strike averted - for now - at BP Whiting Refinery (http://www.nwitimes.com/business/strike-averted---for-now---at-bp/article_5a0d4923-98fd-537c-9078-9249bd97e7d6.html)

[SteveH]

OPEC leader: Oil could shoot back to $200 (http://money.cnn.com/2015/02/03/investing/oil-price-rebound-opec-200/index.html)


Right now the oil market is totally focused on finding a bottom for oil prices. However, according to OPEC's Secretary-General Abdulla al-Badri we've already hit bottom.

Not only that, but he sees a real possibility that oil prices could explode higher to upwards of $200 per barrel in the future. He's far from the only one that sees a return of triple-digit oil prices.

[cameraman]

He can dream. If the price exceeds $90/barrel a whole planet full of fracking operations will come back on line and flood the market. With fracking oil is no where near as rare as it was 10 years ago. And since no one seems to care about the environmental damage, well there ya go, no shortage of crude.

[Tifosi24]

He can dream. If the price exceeds $90/barrel a whole planet full of fracking operations will come back on line and flood the market. With fracking oil is no where near as rare as it was 10 years ago. And since no one seems to care about the environmental damage, well there ya go, no shortage of crude.

Truer words haven't been said. Ignoring environmental concerns, there is an amazing amount of frack oil available. The Saudis might control the low end for price, but we control the top end.

[indyfan31]

Some stations jumped 20 cents per gal this week. Arco, Costco, and Sams Club still around $2.25.

[Gnam]

Up 16 cents overnight to $2.55.

[dando]

$2.35 in Cbus. Just filled up the beast for $32.

[SteveH]

Strike is on for tonight at midnight. Fill up now.

[cameraman]

$1.87 in SLC

[Gnam]

Up another 20 cents to $2.75 for 87. ****.

[cameraman]

$1.939 for Shell regular today.

[Gnam]

Explosion at ExxonMobil's refinery in Torrance, CA. No word on injured or missing.

http://ktla.com/2015/02/18/residents-report-hearing-explosion-feeling-ground-shake-near-torrance-exxon-mobil-refinery/

Hope no one got hurt.

[TravelGal]

Explosion at ExxonMobil's refinery in Torrance, CA. No word on injured or missing.

http://ktla.com/2015/02/18/residents-report-hearing-explosion-feeling-ground-shake-near-torrance-exxon-mobil-refinery/

Hope no one got hurt.

They are sure making light of it. Wonder what the real story is?

[Gnam]

They are sure making light of it. Wonder what the real story is?
update: 4 injured, no one killed. Gasoline processing unit destroyed, will take a year to fix.

http://ktla.com/2015/02/18/residents-report-hearing-explosion-feeling-ground-shake-near-torrance-exxon-mobil-refinery/

The refinery was one of nine targeted by the current strike. Seems the union had a valid concern. Too much explosion.

[dando]

Dropped to ~$2.30 in Cbus...perhaps since nobody can flipping drive around these parts in the cold and snow. :saywhat: :irked:

[indyfan31]

update: 4 injured, no one killed. Gasoline processing unit destroyed, will take a year to fix.

http://ktla.com/2015/02/18/residents-report-hearing-explosion-feeling-ground-shake-near-torrance-exxon-mobil-refinery/

The refinery was one of nine targeted by the current strike. Seems the union had a valid concern. Too much explosion.

To no one's surprise gas here jumped about $0.10/gal

[Gnam]

$2.93 this morning. For a second, I thought maybe the 6 was upside down. Nope.

[cameraman]

$1.969 for Shell regular. It amazes me that you are ~$1.00 higher:saywhat:

[Gnam]

CA cannot import gasoline from other parts of the country due to the unique smog reducing formula the Air Resources Board requires.
All the gasoline used in California is made in California. FUBU.

http://s10.postimg.org/4mvtxaqtl/tumblr_kst5gg_M5j_U1qzqxyjo1_500.jpg

The Sierra Nevada might as well be a moat.

[cameraman]

All of our gas comes from the cluster of refineries here in town so that can't be the sole reason. And the plan is for them to switch to the CA standard sometime in the next few years.

[DagoFast]

There isn't a single gasoline refinery in AZ. Everything feeding Phoenix and northward comes from a pipeline from Los Angeles. Casa Grande and southward comes up through a Texas pipeline.

The shocker is that gasoline costs less in Phoenix than where it was produced right in SoCal. Maybe it can be accounted for just in the different state tax rates?

[datachicane]

The Sierra Nevada might as well be a moat.

Moat around California? This Oregonian's ears have pricked up.

[Gnam]

Moat around California? This Oregonian's ears have pricked up.
The Cascades are still the Emergency Exit.

To the North! :D

[Gnam]

$3.12 for 87.

[TravelGal]

Seems to jump $.10 a day here in SoCal since the X-plosion in Torrence. Up to $3.45 now for reg'lar.

[cameraman]

$1.999 for Shell regular

[Gnam]

more fallout from the refinery strike:


Junior Optimistic Baseball League locked out
Concord, CA

The situation at Tesoro is affecting more than gas prices. It turns out several baseball fields close to the refinery are shut down.

The refinery leases these fields to several different leagues for $1 a year. It's a great arrangement, except now with the strike moving into its fourth week, there are hundreds of kids locked out.

Tesoro says all will reopen, but only after the refinery companies and united steelworkers settle their differences.

http://abc7news.com/news/baseball-fields-near-tesoro-refineries-close-down/533326/
That's pretty low.

[Gnam]

$3.43 for 87.

that escalated quickly.

[dando]

Variable here in Cbs...~$2.49 Me thinks it's proportional to nrc and Missy using the new kart track in Cbus. :gomer: ;)

[cameraman]

$2.299 for Shell Regular. Up $0.30 in a little over a week....

[TravelGal]

$2.39 since I got back to Clearwater. Had been $1.89 when I left eight days earlier.

[Gnam]

With the refinery strike winding down and the price of oil still falling, California may see a decrease in gas prices.

http://www.sfchronicle.com/business/article/End-of-refinery-labor-strike-could-mean-cheaper-6133179.php

Here's hoping for $1.99 prices.

[TravelGal]

$2.34 at the fill-up at the Wawa in Clearwater. $2.84 driving up from LAX.

[dando]

$2.15ish in Cbus.

[TravelGal]

Surely we haven't been able to leave this thread alone for two whole months, but apparently we have.

Monday paid $2.59 to fill up the rental car before heading back to Tampa airport. Two days later I see $3.99 for the cash price here in LA. :eek: I know we have a lot of taxes but this is a much larger discrepancy than usual.

[Gnam]

it jumped 80 cents per gallon over the last few weeks. Now at $3.75

[cameraman]

Yeah, Shell regular is up to $2.97 in SLC.:(

[dando]

Edged up to ~$2.59 average around Cbus during my tours the past few days.

[TravelGal]

Local Chevron up to $4.19 today.

[chop456]

Local Chevron up to $4.19 today.

$4.19 or $3.19? Hope that's a typo. Yikes. :\

[TravelGal]

$4.19 or $3.19? Hope that's a typo. Yikes. :\

Not a typo. What a crock. Yet we're still seeing articles in the paper that prices could hit their lowest in years this summer. Well, they better hurry up. :irked:

[Kiwifan]

$US3.17 here in Waikiki. :D

[TravelGal]

$US3.17 here in Waikiki. :D

Oh, pbbbbbbbbbbbbbt. On so many levels. LOL.

[Gnam]

Know your state's gas tax in cents per gallon.

http://www.exxonmobilperspectives.com/2015/04/28/gasoline-taxes-and-the-price-at-the-pump/
http://s11.postimg.org/tupz1kiar/gas_tax.jpg

[indyfan31]

$US3.17 here in Waikiki. :D

How screwed up is California if gas is cheaper in Hawaii. :rolleyes:

[Kiwifan]

How screwed up is California if gas is cheaper in Hawaii. :rolleyes:

Not sure. Took a Mustang for a spin around Oahu and filled it up last night. Pre pay obviously so when my wife asked "How much should I say?" I said "Maybe $50?" 'Twas $22. Score!

Sorry Gal, knew you would spot it. ;-)

[dando]

Getting close to $2.80 in Cbus...of course just in time for Memorial Day. :saywhat:

[Lux Interior]

Paid $2.89 today.

[dando]

$3.69 in Cbus. So much for the price decreasing. :irked:

[TravelGal]

$2.69 in Cbus. So much for the price decreasing. :irked:

It's pretty obvious they made that last part up. Although it is DOWN to $3.95 here in some place. :rolleyes:

[Kiwifan]

$NZ2.07 cpl back here in Noo Zealand. 😃

[SteveH]

Epic oil glut sparks super tanker 'traffic jams' at sea
http://money.cnn.com/2015/11/22/investing/oil-glut-tanker-traffic-jam/index.html


So-called "floating storage" of crude oil soared to nearly triple the normal level last week, according to ClipperData, which tracks global shipments of crude.

http://i2.cdn.turner.com/money/dam/assets/150604124346-oil-supertanker-780x439.jpg

[WickerBill]

$1.67 in Indy.

[indyfan31]

$2.55 in So Cal, if you know where to look.

[TravelGal]

$2.55 in So Cal, if you know where to look.

Hmmm. I saw $2.65 and $2.99 today. But I didn't brave the Costco parking lots.

[dando]

Finally dropped <$2 here. Indiana refinery came back online 100% and the price jumped $.30 last month. :saywhat: :irked:

[indyfan31]

Hmmm. I saw $2.65 and $2.99 today. But I didn't brave the Costco parking lots.

Smart woman. Sam's Club: same price, half the lines. $2.49 at ARCOs around the neighborhood.
On a related note. Nearest Valero to my house is about 2 miles way, $4.69 for regular. WTF are they thinking? :saywhat:

[SteveH]

Oil prices dive below $37 to lowest level in seven years (http://money.cnn.com/2015/12/08/investing/oil-prices-below-37/index.html)

wow... don't believe it is at the bottom either


These moves come after last week's decision by OPEC not to cut oil output following a contentious six-hour meeting. The oil cartel essentially left production near record highs despite the oversupply problem.

[chop456]

$1.74 rug
$2.29 dsl

When I put RUG and DSL in all caps, the forum software changes it to lower case. I will not be edited! ATTICA!

[WickerBill]

When I put RUG and DSL in all caps, the forum software changes it to lower case. I will not be edited! ATTICA!

That's your browser, not the forum. Safari?

[chop456]

That's your browser, not the forum. Safari?

Chrome on a desktop. And it's never done it before. Thanks, NSA.

[WickerBill]

First, let me state that I know nothing about what I'm talking about. That's why I'm on an internet forum!


With that formality out of the way, isn't it interesting that the price of oil was kept artificially high for so long by oil futures traders that it created a profit margin that encouraged re-invigoration of US oil production. Now, the price has crashed, but OPEC is in a bind because if they raise prices, the US can just use their own production (since the capital investment of drilling, rigs, etc is sunk), so OPEC is going to keep pumping to get whatever margins they can. Perhaps those greedy crude futures traders helped us out after all...

[SteveH]

Perhaps those greedy crude futures traders helped us out after all...

maybe not...

The Ups And Downs Of Low Oil Prices (http://www.newson6.com/story/30696423/the-ups-and-downs-of-low-oil-prices)


National oil and gas sector employment peaked at 653,000 in December 2014 and has shed about 109,000 jobs since then, according to data from the Bureau of Labor Statistics. The pressure on the industry's bottom line is expected to intensify, at least in the short term, in the wake of OPEC's decision not to lower its output at its ministerial meeting last week.

then there is the ripple effect across suppliers such as CAT, service companies, oil drilling supply companies, etc.

more...

While job growth lifts most of US economy, oil patch suffers (http://www.komonews.com/news/business/While-job-growth-lifts-most-of-US-economy-oil-patch-suffers-360804491.html)

[WickerBill]

Sure Steve... but if OPEC were to cut output, as soon as the price per barrel rose sufficiently, the US-based oil sector would fire back up, which is (my uninformed thought as to) why OPEC won't / can't cut their output.

[SteveH]

Sure Steve... but if OPEC were to cut output, as soon as the price per barrel rose sufficiently, the US-based oil sector would fire back up, which is (my uninformed thought as to) why OPEC won't / can't cut their output.

I agree. This could also be the beginning of the end for OPEC (yay!) because not every oil producing country has production costs that low. So OPEC is torpedoing its own constituency, not just the US. A true free market based economy for oil is what is needed. Maybe in time that will happen.

[dando]

Down to ~$1.76 here in Cbus. :eek:

[Turn7]

I agree. This could also be the beginning of the end for OPEC (yay!) because not every oil producing country has production costs that low. So OPEC is torpedoing its own constituency, not just the US. A true free market based economy for oil is what is needed. Maybe in time that will happen.

My paycheck doesn't like cheap gas.

[SteveH]

My paycheck doesn't like cheap gas.

Considering your location, I'll bet. Is the local economy showing signs of stress?

[WickerBill]

My paycheck doesn't like cheap gas.

Holy crap, it's Turn7!

[dando]

Holy crap, it's Turn7!

That deserves a :eek: :)

[Napoleon]

My paycheck doesn't like cheap gas.

Its throwback Fridays here on OC.

[Tifosi24]

It is a blast from the past! I accidentally clicked on the first page of this thread and that was a time machine.

Gas is right around $1.90 a gallon here, which is nice. I thought of something yesterday when I saw natural gas drop below $2 an Mcf for the first time in my professional career. Before the commodity bust in 2008, natgas and oil tracked close to each other with natgas being one-tenth the price of crude oil. If things return to the old way, could we be looking at $20 oil? I don't think so, but I just wanted to put it out there.

In the spot market though, prices are real close to the 10:1 ratio, so the price of oil should begin to put in a floor.

[SteveH]

Crude Falls Below $35 per Barrel in New York for First Time Since 2009 (http://www.bloomberg.com/news/articles/2015-12-14/oil-falls-below-35-in-new-york-for-first-time-since-2009)

[TKGAngel]

$2.18 for gas here in the B-lo yesterday.

BTW, it was 70 degrees here today. We haven't had measurable snowfall yet at the NWS station. There's going to be some bonkers late effect when the weather finally does turn.

[WickerBill]

Major El Niño year. Everything you get, you get big. Currently warmth, probably precip later.

[dando]

$2.18 for gas here in the B-lo yesterday.

BTW, it was 70 degrees here today. We haven't had measurable snowfall yet at the NWS station. There's going to be some bonkers late effect when the weather finally does turn.

Next weekend. :(


https://www.youtube.com/watch?v=9vST6hVRj2A

[Napoleon]

Next weekend. :(


https://www.youtube.com/watch?v=9vST6hVRj2A

There was a piece in the Cleveland Plain Dealer recently on the Edmund Fitzgerald and it was carrying enough iron ore to build 7500 cars.

[dando]

https://www.youtube.com/watch?v=Q3uOnnIv5Qs

:(

[chop456]

Rough driving conditions aren't stopping some people from filling up their tanks in Houghton Lake, where gas is well under $1 per gallon.

Gasbuddy.com is now reporting gas is at $0.53 per gallon at the Beacon & Bridge Market, with the Marathon and Citgo both at $0.95 per gallon.

Police officers are directing traffic in the area of U.S. 127 and M-55 because lines are so long.

The low prices makes Michigan the first state to see gas below $1 per gallon in years.

Rough driving conditions aren't stopping some people from filling up their tanks in Houghton Lake, where gas is well under $1 per gallon.

Gas Buddy is saying a price war going on at gas stations in Houghton Lake makes Michigan the first state to see prices under $1 in years.

This is a photo from the Beacon and Bridge Market there, $0.78 per gallon!

Gas Buddy is also reporting the Marathon there is at $0.95 per gallon.

http://www.9and10news.com/story/30988075/houghton-lake-gas-prices-drop-below-one-dollar

[stroker]

Basically a buck-fiddy here in Mid-Mo...

[cameraman]

Individual state tax rates are going to be more noticeable, $1.87 for Shell regular.

[TravelGal]

Individual state tax rates are going to be more noticeable, $1.87 for Shell regular.

You're not just saying that (as they said in SE Ohio)! I don't see anything here in "The Valley" less than $2.83, fur sure.

[SteveH]

U.S. running out of space to store oil (http://money.cnn.com/2016/02/04/investing/oil-prices-space-us-inventories-supply-glut/index.html?sr=cnnmoneybin020616oil-prices-space-us-inventories-supply-glut0900vodtop)


The U.S. now has nearly 503 million barrels of commercial crude oil stockpiled, the Energy Information Administration said on Wednesday. It's the highest level of supply for this time of the year in at least 80 years.

Interesting to think what will happen when all the storage is full. Lower price per gallon and probably further reduction in production.

Drive more, it's your patriotic duty!

[Gnam]

$2.39 in NorCal.

http://s13.postimg.org/5h8sjm1wn/Oil_cartoon_12_09_2014_large.png

[chop456]

$1.35 tonight

[Elmo T]

Individual state tax rates are going to be more noticeable, $1.87 for Shell regular.

It's $1.91 around the corner from my house, but paid $1.57 just over the river in NJ. And they have to pump it for you. :rolleyes:

[nissan gtp]

saw $1.55 yesterday

[TravelGal]

Saw an article in the LA Times about "investigation" into state taxes on gasoline. Didn't even bother to read it. :rolleyes: Lowest I've seen lately is $2.65.