Fuel prices

[The Evil Twin]

What are the chances that "borrowing" from the SPR will continue after 11/8/22?

About as much as the oil from the SPR staying in the USA. (MSM tried ignoring the fact that part of the last release was exported)

 

[jyoutz]

Knowledgeable folks (about the subject) would not have had to read past the headline to have known what followed was tainted. Glad you picked up on that too (the advantages of being TRULY energy independent).

Yes, fuel prices, trading and trends are complicated and many sources have an influence on the market. That is well understood.

But we are doing now.....is clearly going down the wrong road and only making a bad situation worse. The current administration is rabidly anti-fossil fuels and THAT is not the fault of a global community/market.

Whatever perspective the administration has, it has not prevented the US from matching the record oil production levels this year and planning for a new record next year.

 

[jimh406]

Whatever perspective the administration has, it has not prevented the US from matching the record oil production levels this year and planning for a new record next year.

The perspective is incorrect to think oil production and fuel prices are that closely related. In other words, if oil production was the only issue in play, we'd have low fuel prices.

But ... we don't.

 

[Flintknapper]

Whatever perspective the administration has, it has not prevented the US from matching the record oil production levels this year and planning for a new record next year.

We've been over this before at length. You seem very stuck on oil 'production'. It is refining capability that is the bottle neck. Though increased oil production is never a bad thing.

Also, this administrations onerous position about eliminating fossil fuels, restrictions. permits and requirements all combine to dissuade oil companies from investing in what is an uncertain future.

Oil means almost nothing until it is REFINED!

Please try to look at the big picture.

 

[jyoutz]

The perspective is incorrect to think oil production and fuel prices are that closely related. In other words, if oil production was the only issue in play, we'd have low fuel prices.

But ... we don't.

I agree with you. My comment was intended to respond to your he folks who think high prices are due to limited crude oil production. World market prices are driving fuel costs.

 

[jyoutz]

We've been over this before at length. You seem very stuck on oil 'production'. It is refining capability that is the bottle neck. Though increased oil production is never a bad thing.

Also, this administrations onerous position about eliminating fossil fuels, restrictions. permits and requirements all combine to dissuade oil companies from investing in what is an uncertain future.

Oil means almost nothing until it is REFINED!

Please try to look at the big picture.

I am going to agree with you; the bottleneck is refining. And there has been a shortage of US refining capacity for decades. This situation didn’t develop during the past few years. Why wasn’t new refining capacity brought online during the Bush and trump administrations? It is more than politics; corporate boards had friendly administrations but didn’t invest. World prices are the other factor driving prices.

 

[GreensvilleJay]

can't be a 'refining' bottleneck ..
gas here has gone up 20c/l, 80c/g in the past 2 days.

what has changed in that time though, is that the 'leaders' decided to get opec+ to reduce oil production,
so RUSSIAN oil can be sold/bought
meanwhile Canada and USA could and SHOULD NOT be buying foreign oil...

In the end it's a HUGE 'game of greed', where 'they' do LOTS of things to empty our wallets into theirs.

 

[skeets]

Gas jumped 20 cents this week end att he truck stop diesel over 6.00 bucks

 

[jimh406]

Friend told me gasoline jumped 40 cents overnight in Northern Alabama.

 

[Botamon]

Diesel jumped 60 cents a gallon overnight here in northern Nevada.

 

[Flintknapper]

Diesel jumped 60 cents a gallon overnight here in northern Nevada.

Putin's fault probably. Or Trump.

 

[L35]

Yea, #2 is up $0.40 here in southern CT just like that, what did I miss???

 

[RCW]

$3.59 for 87 octane. Diesel $5.19.

Gasoline up $0.20, diesel up $0.57 over last week or so.

Gonna be a tough home heating season. Coworker won’t get kerosene for 2 weeks after placing her order other day. She didn’t say price.

 

[GreensvilleJay]

$1.60 per litre so about $6 US per US G +-

 

[lugbolt]

diesel went up $.67 all at once. Fri morn, 4.19. Fri at 0930, 4.86 same station. 90 min time.

 

[ctfjr]

Yea, #2 is up $0.40 here in southern CT just like that, what did I miss???

I just called my fuel oil supplier, $5.50. That's more than diesel prices here. wtf?

 

[My Barn]

Toledo, Ohio at Costco

Regular
$3.799
Premium
$4.499
Diesel
$4.899

 

[dirtydeed]

Diesel $5.199 today. Only needed 10 gallons so wasn't about to shop around for it.

 

[GeoHorn]

can't be a 'refining' bottleneck ..
gas here has gone up 20c/l, 80c/g in the past 2 days.

what has changed in that time though, is that the 'leaders' decided to get opec+ to reduce oil production,
so RUSSIAN oil can be sold/bought
meanwhile Canada and USA could and SHOULD NOT be buying foreign oil...

In the end it's a HUGE 'game of greed', where 'they' do LOTS of things to empty our wallets into theirs.

The U.S. a net EXPORTER of oil.

 

[Henro]

The U.S. a net EXPORTER of oil.

What people don’t understand, and I am not claiming to understand fully either, is that if we stopped exporting what we do now, AND stopped importing what we need now, somehow expecting what we don’t need could be transformed into what we do need, may not be understanding reality.

My guess is that we do not have the capacity to transform what we export (and cant really use) into what we do need. So banning exports would only hurt the country, and not help, at least in the short term.

edit: I certainly wasn’t smiling a couple days ago when I filled four 5 gallon diesel containers and it cost me $100! (and change)