So when will the price of oil start to come down?

[ToyotaNSaturn]

WM had PZ jugs for $14.00. I bought my stash when they were $7.77 or $8.47. I feel REAL good about stashing oil now.

But the oil prices will come down as the market will be in an adjusted price (a nice price, too) for quite some time. How long will it take for lower (sane) prices to come back?

As an aside, is heating oil much cheaper than the last few years? For the past few years, we've heard stories of how folks in the north east pay thru the nose for heating oil.

 

[chevrofreak]

Walmart had Pennzoil jugs at $13 when I was there the other day

GTX came down from $16 to $14.50

Rotella T Synthetic is down from $22 to $19/gal

 

[crazyoildude]

i was at walmart last week and saw the prices on motor oil and decided to walk out also for the first time in wal mart i saw dust on the high mileage oil and the 5 qt. containers were the old style label i guess they lost a lot of their oil business.. We used to buy wal mart motor oil for the shop at a rate of 30 cases at a shot but now the super tech is priced too high and we now get drums of conoco phillips oil delivered to the shop and actually pay less from the distributor for a semi-synthetic oil
WAL MART PRICES ON OIL IS TOO HIGH

 

[jldcol]

Engine lube oil don't probably make the oil co's much money anyway. They would probably rather refine it into gas or diesel to sell, make more money. Gas prices are down due to lower demand? Keeping lube oil prices up may be a small but important revenue stream for now. This low price for lube oils is for base stock, the packaged oil in a bottle may actually make a fair bit of profit. I think most of the cost of finished lube oils is mostly additivies, packaging, advertising etc. Theses costs seem less likely to fall so overall price stays up.

 

[flwxman]

when the hair on my balding head grows back...

 

[Trouble1]

Was at walmart yesterday and where the M1 has empty shelves a sign read "due to hurricane IKE disrupting production this is why we have almost no M1"
Bought shingles for barn roof and was depressed about the increase the guy said the shingle manufacturers and asphalt road builders are competeing for the supply of asphalt.
They got us where they want us,pay the man.

 

[Boomer]

I've said it on here before....motor oil is a loss leader at many stores designed to get men (usually) to come into the store hoping to buy something else. I have stopped buying at Wal-Mart as the oil is so high I can find it elsewhere at the same or lower prices. So they have lost my business and I'm sure the business of others. When I went in, I usually bought other items such as food, outdoor supplies, ammunition, blue jeans, etc. I'm sure it is a calculated risk on their part. They analyze this type of behavior all the time. If they notice that people buying motor oil only buy motor oil, there is NO reason to keep the price low. Mark it up. If you make the profit on one bottle you used to make on two and sell half as much and don't hurt other sales, why not?

 

[FZ1]

3.5 months till my next change. I'll wait till then to buy my jug.

 

[Triple_Se7en]

Pep Boys has been running five quarts of Formula Shell and filter for $9.99 (no rebate). I've seen the ad for a month now.

 

[Ken42]

I still have 8 quarts in my dino stash so who cares about prices

 

[demarpaint]

Originally Posted By: Triple_Se7en
Pep Boys has been running five quarts of Formula Shell and filter for $9.99 (no rebate). I've seen the ad for a month now.


That's a great deal. PB doesn't carry 5W20, but AAP was happy to price match and give me a Purolator filter. Not bad for $9.99. I don't need any oil but will probably buy more anyway.

Frank D

 

[GEWB]

Have about 100 qts, mostly Mobil Clean 7500, a case of PP, case of SynPower... MC at $0.95/qt, PP free, SynPower at $1.00/qt. Should last a couple years.

Don't see prices dropping more than 15% from current prices over the next year (not based on fact, only conjecture).

Regards,
GEWB

 

[SuperDave456]

I went out and bought four 5 quart bottles of Mobil Clean 5000 when I saw the sale at Wally World for $11 each.

I wish for the days where Maxlife was $12 a bottle, not the $17 it is now.

If push comes to shove I will run 4k OCI's and Supertech Dino with a shot of Auto RX. No reason to pay through the nose for good oil.

 

[jesbo]

Originally Posted By: jldcol
They would probably rather refine it into gas or diesel to sell, make more money.


A little OT, but I'm curious... I thought a barrel of sweet crude oil, when processed, produced a certain fixed percentage of lighter distilates (gas, jet fuel, kerosene, etc.), a certain percent of heavier oils (heating oils, diesel, motor oils, etc.), and a smaller percent of heavy products (greases, asphalt, etc.). I didn't think you could arbitrarily just produce more gas and less heavier oils from a given quantity of crude. Enlighten me if I'm incorrect.

 

[demarpaint]

With OPEC agreeing to the largest cut in oil production in history I don't expect to see any drop in engine oil prices. I remember reading on this board that the oil blenders etc were holding prices in anticipation of another price increase. So I'm thinking they'll stay as is or start moving up once the OPEC cut kicks in.

Frank D

 

[foresthawk]

Another place with high oil prices is Advance Auto Parts.
Their house brand used to be a good deal, now thats even $2.79 a quart. Way too high for me. Hoping it starts to come down everywhere soon, these prices are too high, considering the big drop in world prices per barrel; down to $33.78/barrel on Friday, December 19.

 

[ajchien]

Originally Posted By: demarpaint
Originally Posted By: Triple_Se7en
Pep Boys has been running five quarts of Formula Shell and filter for $9.99 (no rebate). I've seen the ad for a month now.


That's a great deal. PB doesn't carry 5W20, but AAP was happy to price match and give me a Purolator filter. Not bad for $9.99. I don't need any oil but will probably buy more anyway.

Frank D


Hey folks, what auto parts stores do you guys know of that *do* price match other than AAP (none of those around me)

 

[demarpaint]

AAP is the only one by me that price matches. They're the new kid on the block here. As it turns the manager happened to work for Peb Boys and will do whatever it takes to take business from them. He's a nice guy, and AAP is a lot closer to me than Peb Boys is.

Frank D

 

[wgtoys]

The blenders are keeping prices high because they make a lot more money that way. Retail prices are always sticky after being raised as the supplier figures they can get away with it.

If the global economy stays weak this next year and oil stays under $40/barrel, then prices will come down. Eventually one or more suppliers will figure they can gain share by bringing down prices or running rebate promotions. Once that happens, others will follow.

Unless, of course, industry wide collusion is going on. Nah, that couldn't happen, could it?

 

[chevrofreak]

Originally Posted By: SuperDave456
I went out and bought four 5 quart bottles of Mobil Clean 5000 when I saw the sale at Wally World for $11 each.


It was $9.64 just a couple months ago.