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Gas dropped 20 cents/gal here today

Posted on 3/12/20 at 10:52 pm
Posted by BuckyCheese
Member since Jan 2015
49215 posts
Posted on 3/12/20 at 10:52 pm
A bit delayed, as usual, but I don't recall such a big one day drop in a long time. If ever.

Down to $2.09 here.

Good thing for those that are paying black market prices for toilet paper.
Posted by X123F45
Member since Apr 2015
27396 posts
Posted on 3/12/20 at 10:56 pm to
1.76 this evening.
Posted by Hammond Tiger Fan
Hammond
Member since Oct 2007
16215 posts
Posted on 3/12/20 at 10:59 pm to
Should be much lower given the current price of oil
Posted by Walt OReilly
Poplarville, MS
Member since Oct 2005
124412 posts
Posted on 3/12/20 at 10:59 pm to
Where is here?
Posted by BuckyCheese
Member since Jan 2015
49215 posts
Posted on 3/12/20 at 11:01 pm to
Wisconsin

Posted by RB10
Member since Nov 2010
43822 posts
Posted on 3/12/20 at 11:02 pm to
Yeah I'm much more concerned with my portfolio. It's down 15.5% since this bullshite started. My 401k dropped 23.5% today alone.

This is the real crisis, and no one is talking about it.
Posted by Stiles
Member since Sep 2017
3404 posts
Posted on 3/12/20 at 11:16 pm to
Great. I’ll put the savings toward the losses in my 401(k). I’ll just have to continue buying gas at this rate for the next 128 years to even it out.
Posted by pwejr88
Red Stick
Member since Apr 2007
36179 posts
Posted on 3/12/20 at 11:16 pm to
$1.85 in BR and will drop even more.
Posted by BuckyCheese
Member since Jan 2015
49215 posts
Posted on 3/12/20 at 11:23 pm to
Puts in perspective just how cheap it is;

Year Gasoline Price/Gal Inflation Adjusted Gas Prices Adj. for January 2020
1970 $0.36 $2.39
Posted by SwampGar
Texas
Member since Jan 2020
884 posts
Posted on 3/12/20 at 11:39 pm to
Saudi Arabia flooding the market.
Posted by munchman
Baton Rouge
Member since Feb 2006
10321 posts
Posted on 3/13/20 at 12:23 am to
I was able to snag a free 6 pack of toilet paper with my fill-up today.




This post was edited on 3/13/20 at 12:25 am
Posted by bostitch
Member since Apr 2016
535 posts
Posted on 3/13/20 at 12:48 am to
Diesel dropped 26% here almost overnight. Won’t matter once these tards run out of toilet paper to hoard and move on to fuel.
Posted by Obtuse1
Westside Bodymore Yo
Member since Sep 2016
25626 posts
Posted on 3/13/20 at 1:20 am to
quote:

My 401k dropped 23.5% today alone.


You have to keep in mind just like when you are up it is just paper losses. You own exactly what you did at the opening bail.
Posted by LoneStarRanger
Texas/Europe
Member since Aug 2018
2404 posts
Posted on 3/13/20 at 1:52 am to
$1.70 in my part of Texas
Posted by SelaTiger
Member since Aug 2016
17985 posts
Posted on 3/13/20 at 6:38 am to
It was 1.69 at a gas station by me yesterday morning. Morning before 1.79. It could be 1.59 this morning for all I know. It wouldn’t surprise me now to see 1.25 gas again.
Posted by jlovel7
Louisiana
Member since Aug 2014
21309 posts
Posted on 3/13/20 at 7:06 am to
quote:

Great. I’ll put the savings toward the losses in my 401(k). I’ll just have to continue buying gas at this rate for the next 128 years to even it out.


The market will bounce back up dummy.
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
51586 posts
Posted on 3/13/20 at 7:59 am to
Saudi/Russia oil war making the global surplus grow, COVID-19 making surpluses grow due to people not travelling nearly as much and it's around the time the summer blends are being pushed (although that may have already happened, not sure on when exactly that begins)...

XOM is an incredible buy right now. Once this virus thing blows over in the next month or so and/or something happens in the ME (major refinery bombing, military actions, etc), any oil-related stocks are going to take the hell off.
Posted by deathvalleyfreak43
Baton Rouge
Member since Jul 2008
13233 posts
Posted on 3/13/20 at 8:01 am to
Damn- filled up my tank this morning in Baton Rouge for $1.85.
Posted by Quidam65
Q Continuum
Member since Jun 2010
19307 posts
Posted on 3/13/20 at 8:05 am to
$1.75 at Sam's Club last night (filled up the emergency gas cans, then filled up my car and my SO's SUV).
Posted by ShaneTheLegLechler
Member since Dec 2011
60152 posts
Posted on 3/13/20 at 8:10 am to
quote:

Should be much lower given the current price of oil


Straight from deep under the earth into your F-150 at spot market prices
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