Gas Prices?

[KW5413]

$ 3.12 for regular here yesterday.. $ 3.62 for 93 octane. I run my Denali 6.2, The Queen's Genesis GV70 (3.5 twin turbo), '76 Cutlass and the C 10...all on 93. The (2) modern vehicles are recommended to use Premium. Both the classics have ''built'' 350's so I would never consider using less than 93...wherever available.

[FleetsidePaul]

$5.09 a gallon for premium yesterday when I gassed up my T bird. I put in mid grade 89 it was only $4.93

I'm waiting for delivery of my F450. It's a diesel and I'm dreading the first fill up. I believe that it has a 48 gallon tank. That's going to sting. I only hope it shows up with a full tank but I seriously doubt that it will.

WTH. It beats running out of gas.

[Dieselwrencher]

Originally Posted by FleetsidePaul

$5.09 a gallon for premium yesterday when I gassed up my T bird. I put in mid grade 89 it was only $4.93

I'm waiting for delivery of my F450. It's a diesel and I'm dreading the first fill up. I believe that it has a 48 gallon tank. That's going to sting. I only hope it shows up with a full tank but I seriously doubt that it will.

WTH. It beats running out of gas.

Hopefully it has a 8 or 10 speed with double overdrive so the thing isn't living at the top end of the rpm range. Those 450s and 550s are so low geared they just love drinking the fuel and burning up engines. I'm not sure about the 18 up ones. I quit paying attention to them.

[Boog]

Just reported on the news. Exxon and another oil company are on course to DOUBLE their profits this year. They have said many times their only obligation is to their share holders, not consumers.

[57taskforce]

Originally Posted by Boog

Just reported on the news. Exxon and another oil company are on course to DOUBLE their profits this year. They have said many times their only obligation is to their share holders, not consumers.

Oil is a commodity. Price goes up when supply is low. Your president has nixed a ton of production/future exploration starting January 20 2021. Less production=lower supply=higher price=inherently more profit. Last November and December we were completely energy independent=high supply=Low price=low profit. Now we are dependent on the saudis amongst others for oil which again =low supply=high price=high profit. Oil companies are not directly to blame no matter what you see on the news. I’ve spend several years now working in the oil and gas industry; specifically in production. My company as producer gets paid based on the market, we are NOT CAPABLE of setting our own prices. This BS myth about evil oil companies setting high prices is exactly that; BS. The market sets the price. It’s not rocket science. Currently for the current month of November we are getting paid $83 a barrel for crude oil, and $5.88 per MCF of Natural gas. We own the gas and oil until it leaves our company owned well location/pipelines. Again even though we own the gas until it leaves our locations, we cant dictate what we sell it for. Inflation certainly has a roll in higher prices as well. That again brings us back full circle to the current administration.

BOOG, this isn’t directed at you specifically please don’t take it as such, more an explanation of how oil/gas pricing work.

Originally Posted by Dieselwrencher

Hopefully it has a 8 or 10 speed with double overdrive so the thing isn't living at the top end of the rpm range. Those 450s and 550s are so low geared they just love drinking the fuel and burning up engines. I'm not sure about the 18 up ones. I quit paying attention to them.

18+ is still the same, we’ve got a couple of 18-21 450’s and 550’s in our fleet at work. They derate the engine and give you gears… and you can certainly tell the difference between a 350 and 450/550 in that dept.

[FleetsidePaul]

Originally Posted by Dieselwrencher

Hopefully it has a 8 or 10 speed with double overdrive so the thing isn't living at the top end of the rpm range. Those 450s and 550s are so low geared they just love drinking the fuel and burning up engines. I'm not sure about the 18 up ones. I quit paying attention to them.

It'll see less than 1000 miles a year. I don't drive much so hopefully it shouldn't be a problem. I looked at a lot of trucks and this one was the cleanest.

[Boog]

Originally Posted by 57taskforce

Oil is a commodity. Price goes up when supply is low. Your president has nixed a ton of production/future exploration starting January 20 2021. Less production=lower supply=higher price=inherently more profit. Last November and December we were completely energy independent=high supply=Low price=low profit. Now we are dependent on the saudis amongst others for oil which again =low supply=high price=high profit. Oil companies are not directly to blame no matter what you see on the news. I’ve spend several years now working in the oil and gas industry; specifically in production. My company as producer gets paid based on the market, we are NOT CAPABLE of setting our own prices. This BS myth about evil oil companies setting high prices is exactly that; BS. The market sets the price. It’s not rocket science. Currently for the current month of November we are getting paid $83 a barrel for crude oil, and $5.88 per MCF of Natural gas. We own the gas and oil until it leaves our company owned well location/pipelines. Again even though we own the gas until it leaves our locations, we cant dictate what we sell it for. Inflation certainly has a roll in higher prices as well. That again brings us back full circle to the current administration.

BOOG, this isn’t directed at you specifically please don’t take it as such, more an explanation of how oil/gas pricing work.

No problem Tyler. I just watch the news.

[DeadheadNM]

"The price of oil dropped Thursday after President Joe Biden reportedly asked big oil buyers such as India and Japan - as well as China for the first time - to consider releasing strategic stockpiles of crude."
https://www.dailymail.co.uk/news/art...-reserves.html

[57taskforce]

Originally Posted by DeadheadNM

"The price of oil dropped Thursday after President Joe Biden reportedly asked big oil buyers such as India and Japan - as well as China for the first time - to consider releasing strategic stockpiles of crude."
https://www.dailymail.co.uk/news/art...-reserves.html

I know it’s a huge ass joke huh?

[Boog]

And, reportedly, he asked the FTC to look into whether big oil companies are inflating prices.

Also here we are hovering around 2.99 for regular this week.

[Getter-Done]

While we are on the subject

May I (Quote ) This Guy?

Ya"ll may know him?

Rainbow Stew
Merle Haggard
There's a big, brown cloud in the city

And the countryside's a sin
The price of life is too high to give up
It's gotta come down again
The world wide war is over and done
And the dream of peace comes true
We'll all be drinkin' that free bubble-ubb
And eatin' that rainbow stew
When they find out how to burn water

And the gasoline car is gone
When an airplane flies without any fuel
And the satellite heats our home
But one of these days when the air clears up
And the sun comes shinin' through
We'll all be drinkin' that free bubble-ubb
And eatin' that rainbow stew
Eatin' rainbow stew in a silver spoon

Underneath that sky of blue
We'll all be drinkin' that free bubble-ubb
And eatin' that rainbow stew
You don't have to get high to get happy

Just think about what's in store
When people start doin' what they oughta be doin'
Then they won't be booin' no more
When a President goes through the White House door
Does what he says he'll do
We'll all be drinkin' that free bubble-ubb
And eatin' that rainbow stew
Eatin' rainbow stew in a silver spoon

Underneath that sky of blue
We'll all be drinkin' that free bubble-ubb
And eatin' that rainbow stew
Eatin' rainbow stew in a silver spoon
Underneath that sky of blue
We'll all be drinkin' free bubble-ubb
And eatin' that rainbow stew

[Boog]

Sure loved the Hag.

[special-K]

I got around the region a good bit yesterday and noticed about a $.30 fluctuation in prices, all in the same state with the same tax. All this talk about the world and I see the games being played locally

[Getter-Done]

Yesterday at speed way

[FleetsidePaul]

$5.09 a gallon on 11/16. Yesterday at the same gas station it was $5.18.

[Ol Blue K20]

The prices are real high here. But, I'm going to stay in my corner and out of trouble.

[Dieselwrencher]

Originally Posted by DeadheadNM

"The price of oil dropped Thursday after President Joe Biden reportedly asked big oil buyers such as India and Japan - as well as China for the first time - to consider releasing strategic stockpiles of crude."
https://www.dailymail.co.uk/news/art...-reserves.html

It's okay for China to ruin their environment and sell us their oil........... Maybe I'm missing something?

[DeadheadNM]

Originally Posted by Dieselwrencher

It's okay for China to ruin their environment and sell us their oil........... Maybe I'm missing something?

“China is making a mockery of climate targets as it announced plans to build more coal-fired power plants and increase oil and gas exploration, just weeks ahead of the COP26 summit where world leaders were expected to agree to ambitious emission cuts.”

https://www.dailymail.co.uk/news/art...-stations.html

[Ol Blue K20]

Originally Posted by DeadheadNM

“China is making a mockery of climate targets as it announced plans to build more coal-fired power plants and increase oil and gas exploration, just weeks ahead of the COP26 summit where world leaders were expected to agree to ambitious emission cuts.”

https://www.dailymail.co.uk/news/art...-stations.html

We all share the same atmosphere.......

[truckin 79]

I will wade into this and say that a President has very little impact on gas prices short term, supply and demand does with a large part of influence by OPEC. The one thing a President can do is release oil reserves in the short term as the current President did and also the previous President did in 2019. As much oil and gas reserves we have in the US, middle east countries can produce a barrel of oil cheaper. They do not have to drill sideways under mountains or by peoples backyards. If OPEC wants to flood the market with cheaper crude then thats what they will do and was able to drive some smaller oil companies out of business. If OPEC wants to inflate prices they produce less oil. Also during the pandemic there was less need for gas and thus less truck drivers to fill those gas stations so many were laid off. It takes a special license to deliver fuel to gas stations and that caused a shortage in qualified drivers, another factor. Gas prices actually started to rise in May of 2020 once agian who are you going to blame, not the President but supply and demand with a helping hand from OPEC.

[KW5413]

Originally Posted by Boog

And, reportedly, he asked the FTC to look into whether big oil companies are inflating prices.

Also here we are hovering around 2.99 for regular this week.

That request(?) looks like smoke blowing to me. Trying to deflect the hits he's taking for his energy policy.

[KW5413]

Originally Posted by truckin 79

I will wade into this and say that a President has very little impact on gas prices short term, supply and demand does with a large part of influence by OPEC. The one thing a President can do is release oil reserves in the short term as the current President did and also the previous President did in 2019. As much oil and gas reserves we have in the US, middle east countries can produce a barrel of oil cheaper. They do not have to drill sideways under mountains or by peoples backyards. If OPEC wants to flood the market with cheaper crude then thats what they will do and was able to drive some smaller oil companies out of business. If OPEC wants to inflate prices they produce less oil. Also during the pandemic there was less need for gas and thus less truck drivers to fill those gas stations so many were laid off. It takes a special license to deliver fuel to gas stations and that caused a shortage in qualified drivers, another factor. Gas prices actually started to rise in May of 2020 once agian who are you going to blame, not the President but supply and demand with a helping hand from OPEC.

It doesn't take long for POTUS policies to impact pricing...one way or the other. No matter who is POTUS. Hell, all the markets have to hear is simultaneous farts and sneezes...and it goes nuts. Hurricane, pipe line closed, drilling reduced, a bird flies north instead of south...doesn't take much. So, yeah a POTUS can, and does, impact impact short-term pricing.

But, overall it is a supply and demand thing. Oil field workers were laid off in 2020 and parts of 2021 due to the pandemic. Which had a HUGE # of normally commuting work force staying at home. Not to mention those that just flat out lost their jobs. Aviation fuels took a dive along with many other fuel based items. That's why your fuel prices dropped so much.

Well...our economy has come back pretty hard and fast. Now production is up and people are back on the road and planes are flying. Those that want jobs seem to have them.

It is always a vicious circle.

[KW5413]

Originally Posted by truckin 79

I will wade into this and say that a President has very little impact on gas prices short term, supply and demand does with a large part of influence by OPEC. The one thing a President can do is release oil reserves in the short term as the current President did and also the previous President did in 2019. As much oil and gas reserves we have in the US, middle east countries can produce a barrel of oil cheaper. They do not have to drill sideways under mountains or by peoples backyards. If OPEC wants to flood the market with cheaper crude then thats what they will do and was able to drive some smaller oil companies out of business. If OPEC wants to inflate prices they produce less oil. Also during the pandemic there was less need for gas and thus less truck drivers to fill those gas stations so many were laid off. It takes a special license to deliver fuel to gas stations and that caused a shortage in qualified drivers, another factor. Gas prices actually started to rise in May of 2020 once agian who are you going to blame, not the President but supply and demand with a helping hand from OPEC.

This is what actually happened in 2019:

"President Donald Trump said Sunday he has authorized the release of oil from the U.S. strategic petroleum reserve after attacks on key production facilities in Saudi Arabia cut the kingdom’s crude production by half.

Trump said oil would be released if needed to keep the market well supplied. The president also said that he has informed the appropriate agencies to expedite the approval of oil pipelines still in the permitting process in Texas and other states."

Then, approximately 6 months later, in 2020, ordered all of the US Fuel Reserves to be "Topped-Off".

BTW: Regular Gas today, here, is at $ 3.09.

[DeadheadNM]

“About 1.6 million barrels of crude from the U.S. Strategic Petroleum Reserve -- a monthly record -- was shipped out in October, according to data from market intelligence firm Kpler. Three cargoes were loaded onto a supertanker in the U.S. Gulf Coast and are headed to Asia.”

https://www.bloombergquint.com/marke...-mulls-release

[davischevy]

Originally Posted by DeadheadNM

“About 1.6 million barrels of crude from the U.S. Strategic Petroleum Reserve -- a monthly record -- was shipped out in October, according to data from market intelligence firm Kpler. Three cargoes were loaded onto a supertanker in the U.S. Gulf Coast and are headed to Asia.”

https://www.bloombergquint.com/marke...-mulls-release

Read more at: https://www.bloombergquint.com/marke...-mulls-release
Copyright © BloombergQuint

"The White House has been mulling a range of options to ease soaring pump prices and Democrats are pressing for a potential ban on oil exports as well as the release of crude from the nation’s strategic reserves."

The last paragraph from that article. Who are they pressing? Don't they have all the power?