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On gas prices
Posted on 6/30/26 at 5:57 pm
Posted on 6/30/26 at 5:57 pm
Middle East is a refined product exporter. ME also sends crude to China. In response to Middle East supply issues China cut refinery run rates to just supply domestic needs and cut exports way back. Russia is also losing export capacity as Ukraine continues to hit Russian refineries causing Russia to be at 80% and dropping refinery availability.
The Iran shite show combined with Russian degradation has limited worldwide refinery (not crude oil!) output. Until summer travel season is over it will be a tight gasoline market and REALLY tight diesel market.
The Iran shite show combined with Russian degradation has limited worldwide refinery (not crude oil!) output. Until summer travel season is over it will be a tight gasoline market and REALLY tight diesel market.
6
Posted on 6/30/26 at 6:29 pm to LSU0358
Loading Twitter/X Embed...
If tweet fails to load, click here.quote:
Wonder if that's why POTUS recently threatened "the retailers" keeping gas prices high???
CJNG and other Mexico-based transnational criminal organizations (TCOs) smuggling fuel from the United States into Mexico in schemes involving Mexican tax evasion."
Today's action highlights the extent to which Mexico's cartels are expanding beyond traditional drug trafficking to generate revenue for their criminal organizations, which continue to traffic deadly drugs that kill Americans," said Secretary of the Treasury Scott Bessent.
Posted on 6/30/26 at 6:30 pm to LSU0358
Refineries typically make almost no money on gasoline. They do make money on diesel
Posted on 6/30/26 at 6:39 pm to CitizenK
quote:
Refineries typically make almost no money on gasoline. They do make money on diesel
Exactly. It’s been painful the 2.5 years on gasoline prior to Iran issue. Making some $ on it now though.
Posted on 6/30/26 at 6:44 pm to LSU0358
quote:
Middle East is a refined product exporter. ME also sends crude to China. In response to Middle East supply issues China cut refinery run rates to just supply domestic needs and cut exports way back. Russia is also losing export capacity as Ukraine continues to hit Russian refineries causing Russia to be at 80% and dropping refinery availability.
The Iran shite show combined with Russian degradation has limited worldwide refinery (not crude oil!) output. Until summer travel season is over it will be a tight gasoline market and REALLY tight diesel market.
And were you concerned enough to voice your frustration with even higher fuel prices during the last admin? TDS is real, especially attempted vindictive TDS.
Posted on 6/30/26 at 6:58 pm to CitizenK
quote:Refineries make between 10 and 15 cents per gallon. America buys $10 million gallon per day, so they make a nice profit.
Refineries typically make almost no money on gasoline
Retailers earn near $25 Billion per year in profits, plus they have more control of pricing. My neighbor owned a BP store and said he made good money on gasoline.
Posted on 6/30/26 at 7:38 pm to CitizenK
This largely depends on the refinery and what their goal is in addition to what type of crude they crack. The margins don't change much as oil moves. A barrel of crude in the front end 42 gal nets 47 gal of sellable material. Also offspec blend stock is regularly added to gasoline when things get tight and when a Shell or Exxon tells you a spec range and it doesn't come out within that range they will no longer be calling your lab for analysis.
Posted on 6/30/26 at 7:38 pm to LSU0358
Inflation-Adjusted Comparison
When comparing the two periods in real terms (adjusted for inflation to 2026 dollars):
06/30/22: - $5.55 per gallon
06/30/26: - $4.30 per gallon
When comparing the two periods in real terms (adjusted for inflation to 2026 dollars):
06/30/22: - $5.55 per gallon
06/30/26: - $4.30 per gallon
Posted on 6/30/26 at 7:55 pm to LSU0358
Senator Suzette Valladares
@SenValladares
Highest cost of living in the nation. Highest gas prices in the nation.
And tomorrow, Sacramento hits Californians with ANOTHER automatic gas tax increase.
My colleagues and I asked the Governor and Democratic leadership to suspend it. They refused.
Just in time for your Fourth of July travel, get ready to pay even more at the pump
Posted on 6/30/26 at 8:16 pm to LSU0358
The price of a gallon of gasoline in my hometown has punched through
$ 3/gallon and now stands at $ 2.98/gallon.
President Trump is right about.......everything
$ 3/gallon and now stands at $ 2.98/gallon.
President Trump is right about.......everything
Posted on 6/30/26 at 8:58 pm to BuckI
quote:
Refineries make between 10 and 15 cents per gallon. America buys $10 million gallon per day, so they make a nice profit.
Even Placid barely makes a profit some years and loses money other years and it's a refinery geared to gasoline.
Posted on 6/30/26 at 9:02 pm to Ailsa
quote:
Wonder if that's why POTUS recently threatened "the retailers" keeping gas prices high???
CJNG and other Mexico-based transnational criminal organizations (TCOs) smuggling fuel from the United States into Mexico in schemes involving Mexican tax evasion.
I tried to do some transshipment via Port of Brownsville. It's pretty much Mexican regs (lack of) followed there. I asked friend in Corpus about this He said the entire Rio Grande Valley is that way
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