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Last post 16 hours ago by deadeyedick. 690 replies replies.
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Gas Prices...
danmdevries Offline
#651 Posted:
Joined: 02-11-2014
Posts: 17,720
$4.29 when I was up in Chicago

$3.49 back home
BuckyB93 Offline
#652 Posted:
Joined: 07-16-2004
Posts: 14,325
Paid $3.19 tonight for regular here in north central MA.
glongoria Offline
#653 Posted:
Joined: 01-29-2009
Posts: 483
$2.65 Here in South Texas.
Sunoverbeach Offline
#654 Posted:
Joined: 08-11-2017
Posts: 14,904
Bah humbug on you TX people getting it straight from the tap
HockeyDad Offline
#655 Posted:
Joined: 09-20-2000
Posts: 46,336
Now that I moved to Texas I don’t even look at gas prices.
tonygraz Offline
#656 Posted:
Joined: 08-11-2008
Posts: 20,404
So what are you doing here ?
HockeyDad Offline
#657 Posted:
Joined: 09-20-2000
Posts: 46,336
tonygraz wrote:
So what are you doing here ?


I took the wrong turn at Albuquerque.
Gene363 Offline
#658 Posted:
Joined: 01-24-2003
Posts: 30,998
$3.13 in Augusta, GA
burning_sticks Offline
#659 Posted:
Joined: 08-17-2020
Posts: 152
Jumped from $2.76 to $3.19 in the last few days.
tonygraz Offline
#660 Posted:
Joined: 08-11-2008
Posts: 20,404
3.19 here today.
Gene363 Offline
#661 Posted:
Joined: 01-24-2003
Posts: 30,998
Diesel at Sam's: $3.759/ gallon
Gene363 Offline
#662 Posted:
Joined: 01-24-2003
Posts: 30,998
Costco gasoline: $3.20

Sam's Diesel: $3.57
BuckyB93 Offline
#663 Posted:
Joined: 07-16-2004
Posts: 14,325
About $3.60 regular gas and $4.40 diesel here in north central MA.
burning_sticks Offline
#664 Posted:
Joined: 08-17-2020
Posts: 152
Locally 3.18 for regular and 3.66 diesel, down about .20 from last week..
delta1 Online
#665 Posted:
Joined: 11-23-2011
Posts: 28,889
Costco Premium $4.55/gal
DrafterX Offline
#666 Posted:
Joined: 10-18-2005
Posts: 98,722
$3.26 here.. for the cheap stuff... Mellow
rfenst Offline
#667 Posted:
Joined: 06-23-2007
Posts: 39,750
I'm a bit surprised: $2.99/gal at Wawa.
Makes me wonder what the price is at Costco since I have to go there anyway.
Ram27 Offline
#668 Posted:
Joined: 04-30-2005
Posts: 49,198
rfenst wrote:
I'm a bit surprised: $2.99/gal at Wawa.
Makes me wonder what the price is at Costco since I have to go there anyway.




Wawa here $3.33 with.$.05 credit using Wawa cc.
Local Sunco same, with same credit using Sunco Rewards cc.
Ram27 Offline
#669 Posted:
Joined: 04-30-2005
Posts: 49,198
Six six NINE !
MACS Offline
#670 Posted:
Joined: 02-26-2004
Posts: 80,113
rfenst wrote:
I'm a bit surprised: $2.99/gal at Wawa.
Makes me wonder what the price is at Costco since I have to go there anyway.


$2.95 near me.
dkeage Offline
#671 Posted:
Joined: 03-05-2004
Posts: 15,182
$2.74 at H‑E‑B
Gene363 Offline
#672 Posted:
Joined: 01-24-2003
Posts: 30,998
Costco regular for $2.55 a gallon, Same price at Sam's

Sam's diesel: $2.50 a gallon
rfenst Offline
#673 Posted:
Joined: 06-23-2007
Posts: 39,750
Gene363 wrote:
Costco regular for $2.55 a gallon, Same price at Sam's

Sam's diesel: $2.50 a gallon

Went to Costco this morning. Same price you saw.
MACS Offline
#674 Posted:
Joined: 02-26-2004
Posts: 80,113
$2.90 at Costco near me today.
rfenst Offline
#675 Posted:
Joined: 06-23-2007
Posts: 39,750
Why Oil Prices Never Surged to $100 This Year

Prices defied expectations but could prove more volatile in 2024


WSJ

Travelers, truckers and shippers worldwide can thank the U.S. for helping keep a lid on oil and gasoline prices this year.

A year ago, Wall Street analysts were predicting the international benchmark for oil prices would surge from roughly $86 a barrel to well over $100 in 2023. Instead, futures on Brent crude declined 10% to finish the year trading for about $77 a barrel, though experts warn any spread in global instability could drive it higher.

Behind the surprise: actions by the Biden administration and U.S. oil companies that resulted in an unexpected surge of petroleum supplies.

After Russia invaded Ukraine, many analysts expected Moscow’s oil exports would be significantly curtailed by Western sanctions. Instead a novel price-cap scheme designed by the U.S. and adopted by its allies curbed Russia’s oil revenue while allowing its supplies to flow nearly unimpeded.

Similarly, relaxed U.S. enforcement of sanctions let Iran increase exports to countries including China and Venezuela, further weighing on prices.

The U.S. government focused on “ensuring the oil market did not experience any shortages” because of their potential to drive up gas prices and inflation, said Francisco Blanch, head of global commodities and derivatives research at Bank of America.

Meanwhile, U.S. oil companies pumped more petroleum this year than ever before due largely to faster drilling speeds, longer wells and other efficiency gains. The country is expected to average a record 12.9 million barrels a day of crude oil production this year, a million more than in 2022 and nearly 600,000 more than previously forecast, according to federal record-keepers.

The stepped up output blunted repeated efforts by the Organization of the Petroleum Exporting Countries and its allies to lift prices by cutting production and exports. Brent crude surged to near $100 a barrel in September, only to quickly retreat in the face of a deluge from the U.S. and from other non-OPEC countries.

Gasoline and diesel fuel prices have followed those of crude oil lower, helping bring down inflation. The national average price of unleaded gas is currently $3.12 a gallon, 8 cents lower than at the start of the year, according to AAA.

Patrick De Haan, head of petroleum analysis at GasBuddy, said he is optimistic that figure will fall below $3 by the end of winter.

For 2024, analysts broadly expect oil prices to stay relatively stable. But some warn that notoriously unpredictable shifts in geopolitics could upset the delicate balance.

Earlier this month, oil prices jumped after Yemeni Houthi rebels attacked vessels in the Red Sea, opening a new front in the war between Hamas and Israel that led to shipping disruptions.

Goldman Sachs estimated that the impact on oil prices of such disturbances in that area would be limited to a few dollars a barrel. But it said a closure of the Strait of Hormuz could trap vast quantities of crude in the Persian Gulf and spur prices higher by at least 20%.


The Red Sea disturbances and Venezuela’s recent threat to annex part of oil-rich neighbor Guyana are among the reasons why David Kotok, co-founder and chief investment officer at Cumberland Advisors, expects global instability could drive up oil prices.

“This is not just Gaza and Israel,” Kotok said. “This is much bigger. And the people who focus on the narrow are missing that.”

U.S. oil production might not be able to offset continuing global disruptions, either. This year’s robust output was powered in part by companies such as CrownRock and Hess boosting production to appear more valuable before they agreed to be acquired by Occidental and Chevron, respectively, said Amrita Sen, co-founder and director of research at Energy Aspects.

Private oil producers, which have been responsible for a disproportionate share of production growth recently, are pulling back from drilling due to tightening credit conditions and higher interest rates, Sen said. The number of oil rigs operating in the U.S. has declined to 500 from 621 over the past year, according to oil-field services firm Baker Hughes.

Without any significant escalation in global conflicts, however, Daan Struyven, head of oil research at Goldman Sachs, thinks Brent will remain relatively stable and bounce between $70 and $90 a barrel.

He expects OPEC to cut output further if prices sink below that range, and to reverse some of its reductions if they rise above it.

Natasha Kaneva, head of global commodities strategy at J.P. Morgan, forecasts that Brent will average $83 a barrel in 2024. OPEC has been trying to lift oil prices to an unsustainable level, Kaneva said, given slowing global demand growth and new offshore sources that are on the way.

“What we’re saying is ‘Listen, you should consider accepting a lower price range, there is absolutely nothing wrong with $80 oil,’ ” Kaneva said.
rfenst Offline
#676 Posted:
Joined: 06-23-2007
Posts: 39,750
^^^
Not trying to stir up any chit here. The article reminded me of this thread so I am resurrecting it,

I paid $2.97 for premium at Costco about a week or so ago. Wanted to see if it would do- nothing..
delta1 Online
#677 Posted:
Joined: 11-23-2011
Posts: 28,889
gas at Costco...premium at $4.45/gal...lowest in a while
tonygraz Offline
#678 Posted:
Joined: 08-11-2008
Posts: 20,404
$ 2.78 yesterday at Cumberland Farms.
frankj1 Offline
#679 Posted:
Joined: 02-08-2007
Posts: 44,320
$2.81. at BJ's today, with a ten cent discount cuz of something I bought.
Palama Offline
#680 Posted:
Joined: 02-05-2013
Posts: 24,065
delta1 wrote:
gas at Costco...premium at $4.45/gal...lowest in a while


Sheesh, you must drive one of them fancy-pants vehicles! OhMyGod
Burner02 Offline
#681 Posted:
Joined: 12-21-2010
Posts: 12,923
87 is currently $2.79 in LA.
dkeage Offline
#682 Posted:
Joined: 03-05-2004
Posts: 15,182
$2.49 at H‑E‑B. $2.25 at Sam’s
delta1 Online
#683 Posted:
Joined: 11-23-2011
Posts: 28,889
Palama wrote:
Sheesh, you must drive one of them fancy-pants vehicles! OhMyGod



nope...still driving the little white 2009 Mazdaspeed3 that I had in LV a few years ago...you've been in it a couple/three times...it's got a turbocharged four cylinder engine, hence premium fuel.
rfenst Offline
#684 Posted:
Joined: 06-23-2007
Posts: 39,750
$3.07 at Costco less 4% for using my Costco Visa = $2.95/gallon.
tonygraz Offline
#685 Posted:
Joined: 08-11-2008
Posts: 20,404
$ 3.55 regular
frankj1 Offline
#686 Posted:
Joined: 02-08-2007
Posts: 44,320
$3.25 the other day at a full service station (I didn't wanna pump it to save two cents).
Probably a bit less at BJ's
HockeyDad Offline
#687 Posted:
Joined: 09-20-2000
Posts: 46,336
$1.69 per liter here.
MACS Offline
#688 Posted:
Joined: 02-26-2004
Posts: 80,113
$2.92 at Costco
Gene363 Offline
#689 Posted:
Joined: 01-24-2003
Posts: 30,998
At a SC chain called, Parker's Kitchen

Regular: $2.89

Diesel: $3.29

I think the gasoline is a promotional price, they recently opened.

A few days ago at a Circle-K

Regular: $3.12

Diesel: $3.38
deadeyedick Offline
#690 Posted:
Joined: 03-13-2003
Posts: 17,281
Costco is $3.29 here. We are in-between Texas and Cali so most of it is trucked distance plus we have a special blend for the summer months.
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