Why haven't gas prices gone down?
- Thread starter grampi
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Patman
Staff member
But that’s because oil is a global commodity so anything that affects many countries does affect the price of oil and gas for the rest of the world
And we need foreign crude as our refineries are tuned to use it over our domestic brew.
The output fractions likely are getting kind of jacked at the moment.
Locally our gas prices are firmly speedway affected, so a small temporary dip only means it’s going up more in a week.
Worse I always could rely on e85 and ethanol blends to be extremely cheap comparatively during fuel crisis, sadly no longer true with ethanol and 88e15 being overpriced by energy content, hoping that resolves.
Good Times.
That's true, but what has been taken out of supply by the Straight, has been made up for by other producers. Supply isn't short, it's just a man made pricing manipulation...
87 E10 = 4.19
90 E0 = 4.97
Diesel = 5.49
90 E0 = 4.97
Diesel = 5.49
It's a Pet Day miracle. Price went down $0.10 at 711 near me. I had half tank but got $40 worth. Also had $0.36 gal in rewards, about $5.01 after all that. Gave me a little over 3/4 tank.
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They have gone down recently. Seems contradictory to world events but I'll take it.
Apparently the crude oil that makes gasoline is coming in from a different direction and ships are making u-turns. But I can't go into that too much.
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Prices didn't go up because there was an immediate shortage. They went up because of speculation that there could be a shortage in the future. Many countries have been drawing down reserves to ensure adequate supply. If the straight doesn't stay open or if conflict resumes, we'll see more pricing volatility because reserves have run low. Higher prices also destroyed some demand.
$3.16 for 87 at my local Marathon today. Not too bad IMO
In a bit of a loop, this is also influencing the conflict over the strait. Strikes were halted until 1 hour after the market closed on Friday and then an announcement of return to ceasefire came through 1 hour before the market futures were set to start yesterday.
Agreed though. If this continues and reserves do start running low, we'll see a lot more volatility in the market.
EDIT: Current US oil reserves stand at 331 million barrels, down from 415 million barrels in February. We consume ~21 million barrels a day against a production of ~13.5 million barrels a day.
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I wouldn't cry over that
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The price of gas is always slower to go down than go up. It’s just how the commodity behaves.
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Almost like there's some manipulation taking place.
Oil is a global commodity, so it's important to take total worldwide reserves into consideration, not just US reserves. US reserves are comprised of a mix of crude types, not just the sour grade US refineries need. So we still import a substantial quantity for refining.
My understanding is we cannot get all of it out even if we needed it. I have heard anywhere between 200 - 150 is the bottom, depending on who you want to believe.
All the OECD countries plus China were using reserves. Beyond the countries, a lot of private companies, usually refiners, had "reserves afloat" or basically sitting in old tankers.
China by itself imports 4.5 MBD usually and through most of the closure they did not buy any once Iran was shut down completely - they used reserves. So its hard to guess how many reserves were used but the US was only a small piece.
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We all have seen it but I saw it again today... I went to town and on the right is Valero at $3.64 and across the street Xtreme no tier was $3.59
One car at Valero and about 14 or so at Xtreme all jocking for position and some horns being blown and some cars out in the street...
Why? Especially for me as I top off often and never get below a half tank... that's a 35 cent saving for crap gas
️ dumb 
One car at Valero and about 14 or so at Xtreme all jocking for position and some horns being blown and some cars out in the street...
Why? Especially for me as I top off often and never get below a half tank... that's a 35 cent saving for crap gas
️ dumb 
Maybe someone in this not secret club will tell us. Geeze dude that is a tad juvenile
Owen Lucas
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TBH this whole conflict seems like a nothing-burger.
A blip in gas prices, a lot of headlines and speculation. But no real consequences for North Americans.
Life goes on. As long as we get the next iPhone, the internet works, and fast food is cheap, I think the majority in the US won't care. If you didn't read the news, besides some sticker shock at the pump, it appears that there was little to no impact for anyone.
The military learned a few lessons and likely tested some new techniques and equipment.
Iran for the most part, besides getting a beatdown and having their leader vaporized, will recover slowly. It's not hard to ramp up drone production and harass maritime traffic.
The problem is, that most Americans and in the EU don't realize or care, is that the regime is bent on literally causing nuclear war. Nuclear war is a means to an end, and is what they envision as what will bring back the "al-madhi" or some prophet. This guy only shows up in time of great conflict and will assist in destroying the Israel or whatnot. Did the bunker busters buy us some time? Maybe.
Overall I think this operation was important, and we'll see how successful it is if there is any change in the regimes leadership and behavior. The IRGC seem to be a faction not listening to the formal gov't and might have to be dealt with again. Hopefully they can be reigned in. We'll see.
A blip in gas prices, a lot of headlines and speculation. But no real consequences for North Americans.
Life goes on. As long as we get the next iPhone, the internet works, and fast food is cheap, I think the majority in the US won't care. If you didn't read the news, besides some sticker shock at the pump, it appears that there was little to no impact for anyone.
The military learned a few lessons and likely tested some new techniques and equipment.
Iran for the most part, besides getting a beatdown and having their leader vaporized, will recover slowly. It's not hard to ramp up drone production and harass maritime traffic.
The problem is, that most Americans and in the EU don't realize or care, is that the regime is bent on literally causing nuclear war. Nuclear war is a means to an end, and is what they envision as what will bring back the "al-madhi" or some prophet. This guy only shows up in time of great conflict and will assist in destroying the Israel or whatnot. Did the bunker busters buy us some time? Maybe.
Overall I think this operation was important, and we'll see how successful it is if there is any change in the regimes leadership and behavior. The IRGC seem to be a faction not listening to the formal gov't and might have to be dealt with again. Hopefully they can be reigned in. We'll see.
That was awhile ago. Before you-know-what. It's come down to about $4.80 and $5.20.
