environmental focus, should I stock up?

[1978elcamino]

The new administration wants to focus heavily on reducing fossil fuels moving forward. This leads me to believe energy prices may increase soon. Without politicizing this thread I'm asking if you also think oil prices will trend upwards making me think I should I stock up on oil. I have a decent stash but nowhere near some of what I've seen on this board. Thoughts?

 

[40w8]

Well crude oil was 3 times higher in 2008, and a 12 pack of Mobil 1 0w40 is $50 now. Personally, I'd wait until oil is needed to get latest formulation. My stash is1/2 quart in 2 different cars.

 

[SuperSalad]

Lube oil price changes lag behind crude price changes by such a long time, you'll have plenty of warning if an opportunity to stock up at low prices arises.

 

[Greasymechtech]

Energy prices are already increasing

Prep or don't prep is your choice

I don't think motor oil is something to worry about

 

[BISCUT]

It's gasoline, diesel (including home heating oil), and even natural gas you need to worry about. Not much in the area of stocking up, you can do. We are all at the will of politicians who could care less about us common folks.

 

[spasm3]

If I find a super deal, yes. But I won't stock up just to stock up at current prices. I don't use enough oil now to be worth it.

 

[tasch72]

I'm drawing down until Dexos1 Gen3 hits later this year. No sense stocking up on D1G2 oil that's going out of date unless there's an outrageous clearance sale.

 

[Lubener]

The new administration wants to focus heavily on reducing fossil fuels moving forward. This leads me to believe energy prices may increase soon. Without politicizing this thread I'm asking if you also think oil prices will trend upwards making me think I should I stock up on oil. I have a decent stash but nowhere near some of what I've seen on this board. Thoughts?

I think you are being paranoid. You will end up buying a boatload, then a newer rated oil comes along which is better and your stuck with the old stuff.

 

[Zee09]

Stocking up on oil I no longer do.
I buy what I need when I need it.
You ever buy a bunch of filters and then wreck or sell the car????
Stuck with a bunch of stuff nobody wants.
Someone here will say I will take it. however if they aren't in your area the shipping makes them bail..

 

[dlundblad]

Oil prices will go back up. You can be sure of that. Rather than being a producer and/ or energy independent, we’ll be back to be being dependent. Even though the pipeline construction has been stopped, well still continue to get the oil by train. We won’t stop getting oil

That said, the price of being able to stock up (up front storage fees etc) will likely be a wash compared to just eating the increased costs.

 

[slo town]

In the big scheme of your budget, aren't engine oil prices "mouse nuts"?

Scott

 

[AutoMechanic]

Yes it is going to go up. From what I understand is it already has. Makes me angry. And gasoline too I’ve been stocking up and filling up at every opportunity I can.

 

[PandaBear]

The new administration wants to focus heavily on reducing fossil fuels moving forward. This leads me to believe energy prices may increase soon.

How do you come to that conclusion?

If history is a teacher we see the highest oil price back when GWB was in office and the lowest when Obama was in (pushing Cafe). Oil price will go up for sure due to lock down being over, but also now the world has proven that we can work from home, some demand will be permanently gone. Then you also have these online shopping trend we will see drone delivery within the next 8 years being viable for sure.

The bigger picture though, is that most shale gas and oil are bankrupt, so there is no more disruption in production flooding the market. If we have another war in the major producers, then it will go back up to the sky.

 

[Wolf359]

I don't think you guys really get the math. When oil was really high back in 2008, the price of motor oil didn't go up that much. The cost of a gallon of oil probably went from something like $2 to $4. So that $20 for your gallon of oil equals about $2 in crude. So maybe you pay $22 instead of $20 when crude goes up. But sales and competition probably has more of an effect on that $20 gallon of motor oil than the price of crude. You're probably better off sticking that money in the S&P 500, If you had put $100 in a fund 2 years ago, it'd be worth $148 now. I doubt any investment in motor oil will give you that high a return.

 

[Kestas]

I remember past discussion on motor oil prices. Consensus was that it doesn't fluctuate much with crude oil prices or the price of gasoline.

 

[SevenBizzos]

Nah. It's not like a quart is going to be $20 or anything. If I was worrying about pricing, I'd probably just extend my OCI's. Most of us know we easily could.

 

[Wolf359]

I remember past discussion on motor oil prices. Consensus was that it doesn't fluctuate much with crude oil prices or the price of gasoline.

Right, when oil prices kept dropping, we were all waiting for the price of motor oil to go down which it never really did, oil at Walmart has ranged from $22.88 to $26 for years and that's more to do with whether they're running a sale rather than the actual price of crude.

 

[Leo99]

If you really think oil is going up, I'd research and invest in oil commodities and and ride it up.