Why haven't gas prices gone down?

[Analog-1]

3.83 In SE Mich.

 

[fdcg27]

Around $3.12 or so in this area at the lowest priced stations and $3.15 at Costco, so more than Kroger at their $3.16 since you always get .03 off on your Kroger Plus membership.
Speedway is already making the breakout move to much higher prices, as high as $3.99, maybe based upon current developments in the Middle East.

 

[Dave Hess]

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.

We are going to be running on fumes soon.

90% of people are in LaLa Land and believe all the lies……

 

[Snagglefoot]

Here is the curve for traded gasoline. It developed a nice head and shoulders and is now on the way up, reacting to developments.

 

[FZ1]

About 3 bucks per gallon at Sam's in Big D. Increasing production in the US and Venezuela should keep prices manageable. Maybe a slight refinery bottleneck. State prices can vary greatly because of individual state taxes added to the raw cost of gasoline.

 

[Rmay635703]

I believe the original poster was referring to something like this. Gasoline prices are still about a dollar a gallon more than what they were in mid April. Mods I took this off Gas buddy for a quick review.

View attachment 346241

Wisconsin full on speedway affect with our local prices moving from being lower than national averages increasing to being identical .
Parity with national averages is a massive change and a bane to Wisconsin drivers

Worth noting Kalibrate is finally getting sued, it alone unifies and decides pricing nationwide.

 

[Dinoburner]

The fuel industry is a for-profit industry; they are not your friend.

And profits are sacred.

 

[JeffKeryk]

Rag can be had for $4.86 in 2 places, Costco is $5.10 and $5.50 for 91*. Most cheapie stations are about $5.30ish and up.

 

[Snagglefoot]

According to Gas Buddy the average USA gas price in the USA is on the way back up, maybe momentarily. Mods, I added a screen shot from Gas Buddy to show the change.

 

[OS4A]

We are going to be running on fumes soon.

90% of people are in LaLa Land and believe all the lies……

Unless something changes quickly...amazed this is not a news topic.

 

[Revving2Redline]

Out here in Lawrence Kansas, Amoco BP was like $3.31 87e10, $3.67 89e5 $4.06 91 e0

 

[Legs4Arms]

Out here in Lawrence Kansas, Amoco BP was like $3.31 87e10, $3.67 89e5 $4.06 91 e0

So cheap
$218.9L for 91 octane here in Vancouver BC

 

[GON]

Hattisberg, MS Sunday 12JUL 2026…

 

[FZ1]

Hattisberg, MS Sunday 12JUL 2026…
View attachment 347601

Fill 'er up!

 

[Snagglefoot]

Oil hit $90 this morning.

 

[RDY4WAR]

Brent is $98.40 this morning ahead of market open. It could easily crack $100 today. This is not a shock spike either but a gradual increase. It's becoming more evident that the war is not going to end soon, reserves are dwindling, and the market is reacting accordingly. If China announces a resume to imports, that price could instantly jump 10% or more.

 

[melk]

 

[FreedomOne]

Houthies hit the Aramco Saudi refinery in Jazan. Major fires ongoing.

 

[melk]

Whoopsie!!


REUTERS,
JULY 26, 2026 15:27

An oil tanker exploded in the Strait of Hormuz after colliding with a naval mine, Iran's Islamic Revolutionary Guard Corps (IRGC)-linked Tasnim news agency reported on Sunday.

Tasnim said the tanker struck the mine after leaving the route designated by Iran in the strategic waterway.

 

[fdcg27]

Whoopsie!!


REUTERS,
JULY 26, 2026 15:27

An oil tanker exploded in the Strait of Hormuz after colliding with a naval mine, Iran's Islamic Revolutionary Guard Corps (IRGC)-linked Tasnim news agency reported on Sunday.

Tasnim said the tanker struck the mine after leaving the route designated by Iran in the strategic waterway.

View attachment 349732
View attachment 349733

Does anyone else wonder whether the militias that placed the mines even know where they are with any precision?