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Cheap gas

meanstreak

.30-06
"Philanthropist"
How much is gas in your area presently ? I paid $1.12 for regular at Sam's Tuesday. Most of the name brands here are about $1.35 for regular.
 
I haven't bought any gas in a few weeks, but the last I saw was $1.55 gal. I'll have to check tomorrow when I go out.

The Russians and towel heads are having a price war. It's good for consumers, but it's hurting American producers because we can't produce it as cheap as they can.
 
It was a $1.14 at Kroger this morning, if I had max fuel points I could have filled up for $0.14 a gallon.
 
I looked today. Still $1.55 here and that's usually about a nickel higher than many other gas stations locally. I can go to pilot at the next county over and usually save .30C a gallon over what I usually pay here at home. But I don't want to go through a 1/4 tank of gas just to save $8 either LOL
 
US and world consumption is wy down with people not working, factories closed, etc.
 
Last prices I saw were about 3-4 weeks ago. In the $1.26/gal range. I have been living on home delivery a lot. Dewitt and Clinton Iowa area is where I live. Lowest prices are at the stations in Davenport IA that are run by the middle eastern families.
 
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Looks like crude oil is down to NEGATIVE prices per BARREL. That's really bad. I know the towel heads and the Russians have been fueding for a while over oil prices, but at some reports, surplus/storage is at 70% and to me, that spells out that economies are nearing collapse.

https://markets.businessinsider.com/commodities/oil-price?type=wti&op=1

Dow tumbles 592 points as oil crashes below zero for the first time ever
We were all heading into the toilet before this pandemic really broke. Forecasts were calling for a major recession or even a depression back in Dec/Jan.

I find it more than curious where we’re at right now with the GARGANTUAN amounts of money (debt) our governments are doling out and the very little said about our actual trajectory. I say OUR because the US and Canadian economies are inextricably linked.

Epidemiologists and economists both have been blowing the whistle in their respective areas to deaf ears for quite a long time.

Sorry didn’t mean to derail things here......
 
Looks like crude oil is down to NEGATIVE prices per BARREL.
Dow tumbles 592 points as oil crashes below zero for the first time ever

I had a financial channel on the tv when I noticed that the crude prices came across
and the bottom of the screen it said something like
CHANGE -250.33%

upload_2020-4-21_1-55-26.png
So I said out loud to my wife [who probably was not listening to me] "That's impossible... the price would have to be less than zero to lose over 100%. I'd love to have a contract for an asset they PAID ME to take."

I've bought and sold options and commodity contracts in the past and I had never seen anything like this before.

Then I started thinking about what I learned on the farm 60 years ago... if you buy a contract for wheat then you get wheat. If you don't want the damned wheat you better sell the contract to somebody that does.

So even tho' I would have somebody paying me to take their oil, I'd have to do something with it... and transportation, storage and distribution ain't free.

This upsidedown world is still hard for me to get my head around. I'm still dizzy. [Which is probably why my wife doesn't listen to me.]
 
I saw regular priced at $1.29 at a Sinclair station near me in Tulsa yesterday. Who knows where it might be today.

I also saw on a financial channel that the drop in the prices was for May contracts, but June contracts were over $20 per barrel. Go figure.
 
Imagine what the price would be if state gasoline taxes decreased proportionately as the oil companies lowered their prices.
 
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