Ok whats up? Oil way down, gas way up.
 

Ok, whats up. Oil dropped way low today, but our gas stations just went up $.50 per gallon. I was born, but not yesterday. What the hell is this s***.

1.87$ a gallon here. Steadily dropping. No complaints, besides diesel is still hovering at 3$/gal

Yeah commodity price drop. Maybe you all have a local or state tax add on. We have one here in Calif. plus a special bend gas so we always pay more....gotta save the planet BS.

Plus in Ca we get the " cap and trade " bs for companies, gas is going up

Futures?

Getting rid of stuff they bought which they thought, at the time, was cheap?

I'm not far from the OP's area. Gas has been bumping around $1.69 to $1.89 and changing daily. I've not seen a 50 cent jump in a day, but it has been volatile around here.

Can't a gas station make a buck? What are you, communist? :D

Interesting times - I was looking at the logbook in my car yesterday and noted that when I bought it in October of 2006, gas was $2.79 a gallon (premium). I paid $2.39 yesterday. Of course a lot of this difference is that in 2006 I was paying highly-taxed California prices but not all of it. Is it possible we might soon see early 2000s prices?

I paid $2.60 a gallon for home heating oil in 2011 (I've since abandoned that system and gone with a wood burning hydronic system with solar assist and a pellet stove plus a few electric space heaters since home heating oil increased to nearly $4.00 per gallon).

I still have no intention of burning oil and playing into OPEC's hands. This won't last - they're simply trying to kill alternatives and in particular US shale production and natural gas development while re-establishing the Saudi-dominated monopoly on oil pricing. I sure will enjoy driving and flying more however for the time being (avgas and jet-A are down too) and I'll stock up as an emergency backup fuel source.

The wood from felled trees on my land is still free and it's helping me improve the land, even if it's a little work. Win-win for me. It'll make life nicer for a while but I hope people don't get too used to it. Then again, people are pretty dumb - maybe Hummers will make a comeback for a couple of years...

Sales of SUVs, trucks, and luxury vehicles are up......

Low Gas Prices Give SUV Sales A Boost, But Automakers Take Long View : NPR

We have places selling Diesel for $3.89 per gallon. On the Southside of Houston (Alvin, TX), it is selling for $2.18. Something is wrong with the price of diesel.

Paid $ 1.74 this morning.

$2.13 yesterday. $40 fill up.

Paid $2.67 for diesel here, yesterday. $1.98 for regular on sunday.

I'm glad oil prices are falling. However, I wouldn't be surprised if refiners & distributors want to skim a little profit while they 'slowly ease' prices down. It would also stand to reason that the fed & local govs down want prices high (in CA) because they get a % of sale price, not a flat amount.

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Really? What part of Arizona are you in? We're still running $2.27-2.47 down here in Sierra Vista.

Saw regular for $1.68 tonight.

Diesel was $2.99

Refiners and distributors want all the profits they can (legally) get, but it isn't up to them. They don't set the price.

The market determines the price and the amount of profit.

Refiners are loosing money on every gallon of gas produced right now, but are still making some money on the diesel and jet fuel.
And they are doing everything they can to maximize diesel production but gasoline is still being over-produced.

Look at this spread in Alvin. This is DIESEL only.

http://forums.pelicanparts.com/uploa...1420649028.jpg

A wider view of the South Part of Houston.

http://forums.pelicanparts.com/uploa...1420649135.jpg

Where I live

http://forums.pelicanparts.com/uploa...1420649244.jpg

$2.19 in Alvin to a place not far from me that is $3.85. WTF ?!?

The lowest relatively close by is $2.59 (8-9 miles). Lowest close (4 miles) is $2.89. 1/4 mile $2.99.

There was a lot of talk about the cap and trade impact on 1/1/15, but regular is as low as $2.55 in West LA today. As low as $2.47 in the Valley (ignoring ARCO where there's a debit card surcharge).

Oil has falled another $6 since the 1st of the year and gas has only dropped a little in california, due to the cap and trade tax.
So it hit but we didn't notice.

BTW the wholesale spot price for regular unleaded in L.A. today is $1.29 a gallon. Diesel is $1.64

At $1.29, gasoline is basically a waste product of making diesel.

That is insane.

Interesting that you should say this because I've been noticing more Hummer H2s on the roads around here lately. Maybe people who parked them when gas prices spiked up are now dragging them out and using them again. You'd think they would be embarrased to be seen in one of those things now.

I go to an ARCO station near the house and I paid $2.35 a gallon on Monday, plus the 35 cents surcharge (1-1/2 penny per gallon). That'd make it $2.365 a gallon.

I could have gone to the shell station across the street and paid $2.74 for the exact same gas, made by the same refinery, but without the 35 cent surcharge.

$2.365 vs $2.74 ..... dunno that's a toughie.

Yet there were cars pulling into that shell station willing to pay 40 cents a gallon more for the exact same stuff. I doan get it.

You get what you pay for ....

Only in the bay area would people be "embarrassed" over something like that.

It's a friggin tahoe.

Sammy, is the higher price of diesel mainly due to the cost of the whole USL thing? a buddy of mine that works for Hess, said its a big factor. Just wanted your take on it.

Sales of hybrid cars are down significantly, sales of full size pickups and SUVs are up significantly. The usual thing we see when gasoline prices fall sharply. A lot of consumers make 5-8 year decisions under the assumption that present conditions will continue forever.

Realistically, the odds that oil will stay at $50 for over a year are, I think, low. The US shale production will start drying up by late 2015 unless US producers drill a lot of new wells now, and they aren't doing so.

Why would they drill them? They need $70 oil for them to pay. They know where the oil is and can wait. The drillers are the ones losing out.

Agreed.

Plus, the producers were complaining about rising drilling costs and wages, so they'd like to see that come down too. The bigger producers would also like to buy down smaller distressed producers.

At some point, oil traders will see declining US production and, unless demand is collapsing, will start bidding oil prices up.

Regular is now $1.75. What tickles me is that E85 is now sitting at $2.15.

Unfortunately, these prices wont stay like this for ever. Only a matter of time before they shoot back up to where they were.

.

I feel like hoarding gasoline like .22LR