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Old 04-23-2007, 08:40 AM  
Donger Donger is online now
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Gasoline over $4 coming to a pump near you because this thread is ass

http://www.bloomberg.com/apps/news?p...d=afOlUzd30YOo

Pretty alarmist, IMO, but possible.

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Old 09-17-2024, 06:05 PM   #2206
ChiliConCarnage ChiliConCarnage is offline
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Paid 2.91 this weekend. It kind of feels normal anymore. Wish it could go back to one buck
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ChiliConCarnage threw an interception on a screen pass.ChiliConCarnage threw an interception on a screen pass.ChiliConCarnage threw an interception on a screen pass.ChiliConCarnage threw an interception on a screen pass.ChiliConCarnage threw an interception on a screen pass.ChiliConCarnage threw an interception on a screen pass.ChiliConCarnage threw an interception on a screen pass.ChiliConCarnage threw an interception on a screen pass.ChiliConCarnage threw an interception on a screen pass.ChiliConCarnage threw an interception on a screen pass.ChiliConCarnage threw an interception on a screen pass.
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Old 09-17-2024, 06:19 PM   #2207
KingPriest2 KingPriest2 is offline
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Quote:
Originally Posted by ChiliConCarnage View Post
Paid 2.91 this weekend. It kind of feels normal anymore. Wish it could go back to one buck
Well that will never happen agsin.

If it does something major happened or if OPE, changes it’s mind and majorly floods the global oil market down. Bankrupt the us oil industry

And

American oil companies can’t survive with prices that low. Over 100 oil companies went bk back in 2020. Sending 220k out of work
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Originally Posted by Taco John
If you're not sure who you're voting for at this point in time, you can abandon all connection to the word "smart."
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...He asked who I am voting for. I told him, "well, that depends... ."
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Old 09-18-2024, 04:58 PM   #2208
4th and Long 4th and Long is offline
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This isn't really earth-shattering news, since it happens every year.

Quote:
Gas prices are plummeting. Experts explain why.
In five states, an average gallon of gas costs less than $3.
ByMax Zahn
September 17, 2024, 12:23 PM


Drivers have enjoyed a sharp decline in gasoline prices over recent weeks -- and the good times are expected to continue.

Gas prices have plummeted about 13% from a 2024 peak in April, which amounts to a decline of nearly 50 cents per gallon, according to AAA data shared with ABC News.

The national average price of a gallon of gas stands at $3.20, AAA data shows. In 16 states, an average gallon of gas costs less than $3, including Texas Georgia, North Carolina, Wisconsin, Kansas and Iowa.

Speaking to ABC News, some experts forecasted that the national average price would likely follow suit, dropping below $3 per gallon for the first time since May 2021.



The drop in prices owes in part to sluggish demand for gas as the busy summer traveling season has given way to an autumn slowdown, experts said. Meanwhile, they added, a sharp decline in the price of crude oil has propelled an even larger drop-off in gas prices than typically seen at this time of year.

“Gas prices continue to crumble across the entire nation,” Patrick de Haan, the head of petroleum analysis at GasBuddy, told ABC News. “The outlook is bright.”

Relief for consumers stems to a large degree from seasonal fluctuations that take hold every fall, experts said.

A slowdown in travel has eased demand for gas as families have returned from summer vacation and resumed routine driving associated with work and school commutes.

Alongside that softening of demand, refineries have begun shifting toward a less-expensive blend of winter fuel. Refineries contend with fewer regulations from the Environmental Protection Agency in the cooler fall and winter months, allowing for a cheaper blend of fuel.

“This is something we see every year,” Andrew Gross, a spokesperson at AAA, told ABC News.

The decline in prices also owes to a steep drop in the cost of crude oil, the underlying commodity that refineries turn into gas. The price of Brent crude oil has fallen 21% over the past year, and more than 7% over the last month.

A surge in oil production has coincided with a global economic slowdown, which in turn has eased demand for crude as consumers soften spending and companies downshift production. The resulting imbalance between supply and demand has sent prices plummeting, experts said.

“There’s pretty good supply and not much demand,” Timothy Fitzgerald, a professor of business economics at the University of Tennessee who studies the petroleum industry, told ABC News.

The decline of gas prices is expected to continue. Gas prices typically drop over the course of the fall as demand wanes and the cheaper blend of winter fuel takes hold.

“Nearly every state east of the Rockies now has some retail outlets selling gas below $3 a gallon and the national average may very well follow suit in October,” said Gross.

Still, the anticipated price relief could be undone by a host of possible disruptions, experts said. Hurricane season could send a storm hurtling toward major refineries in the Gulf of Mexico, taking production offline and pinching gas supply. While an economic surge, perhaps triggered by widely expected interest rate cuts, could prompt an uptick in demand for oil and gas, said de Haan.

“There are some wild cards that we’re watching,” he added. “Outside those factors, there’s not much that could cause a big jump in the price of gasoline.”

By the early part of next year, however, seasonal fluctuations will turn against consumers as demand for gasoline begins to swell, he added.

“Enjoy these seasonal lows,” de Haan said.
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Old 09-18-2024, 05:03 PM   #2209
PatMahomesIsGod PatMahomesIsGod is offline
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Gas prices go down after summer??

Who knew.
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Old 09-18-2024, 05:24 PM   #2210
4th and Long 4th and Long is offline
Wheeeeee!!!
 
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Quote:
Originally Posted by PatMahomesIsGod View Post
Gas prices go down after summer??

Who knew.
Almost everyone.

It's nice to see that the price of Brent crude oil has fallen 21% over the past year though.
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4th and Long 's phone was tapped by Scott Pioli.4th and Long 's phone was tapped by Scott Pioli.4th and Long 's phone was tapped by Scott Pioli.4th and Long 's phone was tapped by Scott Pioli.4th and Long 's phone was tapped by Scott Pioli.4th and Long 's phone was tapped by Scott Pioli.4th and Long 's phone was tapped by Scott Pioli.4th and Long 's phone was tapped by Scott Pioli.4th and Long 's phone was tapped by Scott Pioli.4th and Long 's phone was tapped by Scott Pioli.4th and Long 's phone was tapped by Scott Pioli.
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Old 09-18-2024, 06:16 PM   #2211
Jewish Rabbi Jewish Rabbi is offline
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Quote:
Originally Posted by PatMahomesIsGod View Post
Gas prices go down after summer??

Who knew.
What’s a gallon of gas run in Belize?
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Old 09-18-2024, 06:48 PM   #2212
BlackHelicopters BlackHelicopters is offline
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Old Yesterday, 04:47 PM   #2213
Donger Donger is online now
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Quote:
Originally Posted by Donger View Post
National average is $3.35. I expect it to get close to $3.00 by year-end.
$3.13
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Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.Donger is obviously part of the inner Circle.
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Old Yesterday, 10:12 PM   #2214
KingPriest2 KingPriest2 is offline
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Quote:
Originally Posted by Donger View Post
$3.13
3.09 10/28
__________________
Quote:
----------------------------------------------------------------------
Originally Posted by Taco John
If you're not sure who you're voting for at this point in time, you can abandon all connection to the word "smart."
----------------------------------------------------------------------

Quote:
----------------------------------------------------------------------
Originally Posted by Taco John
...He asked who I am voting for. I told him, "well, that depends... ."
Posts: 6,353
KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.
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Old Yesterday, 10:20 PM   #2215
threebag threebag is offline
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I miss $1.79, it’s time to drill baby drill
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Old Yesterday, 10:25 PM   #2216
KingPriest2 KingPriest2 is offline
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Quote:
Originally Posted by threebag View Post
I miss $1.79, it’s time to drill baby drill
Yeah Thanks to Covid that s why we had 1.79

These prices of WTI and Brent were pushed down from an average of $60 per barrel in December 31, 2019. WTI crude oil prices dropped to $46.78 per barrel in March 2020, and fell to a historic low $-36.98 per barrel in April of the same year.

https://www.ncbi.nlm.nih.gov › pmc
Impact of COVID-19 pandemic on crude oil prices - NCBI (https://www.ncbi.nlm.nih.gov/pmc/art...%20same%20year.)

And you really want over 100 oil companies bankrupt and 125k oil workers out of work?


Houston Chronicle
www.houstonchronicle.com
Over 100 oil and gas companies went bankrupt in 2020
Jan 20, 2021 — The 107 oil and gas bankruptcies in 2020 were the most since 142 bankruptcies were filed during the last oil bust in 2016. More than 100 oil



Btw we’re roduong the most oil ever

The United States produced more crude oil than any nation at any time, according to our International Energy Statistics, for the past six years in a row.Mar 11, 2024

https://www.eia.gov › detail
United States produces more crude oil than any country, ever - U.S. Energy ... (https://www.eia.gov/todayinenergy/de...20in%20a%20row.)



markets.businessinsider.com
https://markets.businessinsider.com › ...
US oil production just hit a record high - Markets Insider
(https://markets.businessinsider.com/...rgy-gas-2024-8)
2 days ago — US oil
production hit a record high of 13.4 million barrels per day last week, up from 12.6 million barrels per day a year ago.
__________________
Quote:
----------------------------------------------------------------------
Originally Posted by Taco John
If you're not sure who you're voting for at this point in time, you can abandon all connection to the word "smart."
----------------------------------------------------------------------

Quote:
----------------------------------------------------------------------
Originally Posted by Taco John
...He asked who I am voting for. I told him, "well, that depends... ."
Posts: 6,353
KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.KingPriest2 is not part of the Right 53.
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