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Gas prices have went up .40 in my area in the past week
Posted on 5/6/20 at 2:06 pm
Posted on 5/6/20 at 2:06 pm
Went from 1.39 to 1.79. Awful fast jump. Is oil sky rocketing? I know gas didn't drop when oil plummeted dollars at a time for a couple days
This post was edited on 5/6/20 at 2:07 pm
16
Posted on 5/6/20 at 2:10 pm to CatsGoneWild
Imagine telling people in 2010 you'd be bitching about paying $1.79 for gas in 10 years 
Posted on 5/6/20 at 2:15 pm to CatsGoneWild
It took about 8 weeks for the price of a gallon of gas to drop 40¢, during which time oil prices plummeted. I fully expect that prices will rise that same amount in a week, if oil gives a hint of recovery.
They're definitely fricking us.
They're definitely fricking us.
Posted on 5/6/20 at 2:18 pm to CatsGoneWild
Posted on 5/6/20 at 2:21 pm to CatsGoneWild
It's almost as if gasoline is an independently traded commodity that can trade on its own fundamentals and the R^2 between oil & gasoline isn't 1. Who would have known?
Posted on 5/6/20 at 2:37 pm to CatsGoneWild
People are going back to work and driving
Posted on 5/6/20 at 3:00 pm to CatsGoneWild
Gas is a hoax. It will be back down under $0.99 before Mother's Day.
Posted on 5/6/20 at 3:07 pm to SEClint
quote:
People are going back to work and driving
I don't know if they are going back to work or finally sick of their spouse and joyriding but the traffic in the last week has picked up to almost pre-normal flu virus levels.
I was enjoying those open roads
Posted on 5/6/20 at 3:08 pm to YF12
I paid $1.39 this morning.
Posted on 5/6/20 at 3:08 pm to CatsGoneWild
Have went. Terrible
Posted on 5/6/20 at 3:13 pm to t00f
I got it for $1.19 on Sunday (less than an hour away), but now my area is 1.79.
Posted on 5/6/20 at 3:13 pm to CatsGoneWild
Still $1.27 in Watson
Posted on 5/6/20 at 3:14 pm to CatsGoneWild
Have went?
Posted on 5/6/20 at 3:14 pm to CatsGoneWild
The only thing you need to remember about gas is this: the only reason you're not paying $8 a gallon everywhere is state laws.
Posted on 5/6/20 at 3:16 pm to PrivatePublic
quote:
The only thing you need to remember about gas is this: the only reason you're not paying $8 a gallon everywhere is state laws.
What?
A gallon of refined gas was trading at 30 cents a gallon a week ago.
The only reason you are paying any more than that is state laws. You know. Taxes and stuff.
Posted on 5/6/20 at 3:17 pm to CatsGoneWild
Awesome and good news.
Posted on 5/6/20 at 3:17 pm to CatsGoneWild
The funny thing is that oil is going up because traders HOPE demand picks up. It's all bullshite.
Posted on 5/6/20 at 3:21 pm to YF12
You're missing my point.
The demand for gas stays constant despite the price. The only reason stations don't charge ridiculous prices is state laws.
The demand for gas stays constant despite the price. The only reason stations don't charge ridiculous prices is state laws.
Posted on 5/6/20 at 3:27 pm to Mo Jeaux
Same folks who "seen sasquatch."
Posted on 5/6/20 at 3:50 pm to CatsGoneWild
There's confusion regarding supply and demand fundamentals.
When speaking about oil demand, that is the amount of oil purchased by refiners. That is up 216 kbd this week. Oil demand is up week-on-week. Oil supply is US production and imports less exports. US production is down this week and both imports and exports are up.
Gasoline demand is end-user demand. The past 2 weeks have seen increased user demand as lock-downs ease. Gasoline supply is the amount of gasoline produced by refiner blending components. Gasoline inventories drew 6.9M barrels in past 2 weeks. Also, refiners much switch to summer blend in under 2 weeks. Which is more expensive to produce.
Oil and product markets are correlated. But they are not identical.
When speaking about oil demand, that is the amount of oil purchased by refiners. That is up 216 kbd this week. Oil demand is up week-on-week. Oil supply is US production and imports less exports. US production is down this week and both imports and exports are up.
Gasoline demand is end-user demand. The past 2 weeks have seen increased user demand as lock-downs ease. Gasoline supply is the amount of gasoline produced by refiner blending components. Gasoline inventories drew 6.9M barrels in past 2 weeks. Also, refiners much switch to summer blend in under 2 weeks. Which is more expensive to produce.
Oil and product markets are correlated. But they are not identical.
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