.88 diesel

1.82 yesterday in yuma, az

Speculators are supply and demand. They bid on futures and substantially determine what the cost WILL be in the future.

ktmrfs wrote:

brulaz wrote:

Likes to tow wrote:
Folks this is an election year. Don't get all excited about low gas prices. Can't you see what is happening? We were told a number of things after 2008 that explained why oil prices suddenly went through the roof. Aren't all those things still in place? Has gas come down in price around the world? Have new refineries come online? Do we have the pipe line? Think!! It ain't going to last much beyond early 2017.

Not sure if facts mean anything to you, but, Yes, gas has come down in price around the world! Less than Can$1 per litre here in Ontario.
And this is happening *after* our Canadian elections.

Not everything is a conspiracy, it's just supply and demand. Higher supply from fracking and tar sands, and lower demand due to conservation and efficiency improvements, wind&solar (in a few places).

Also OPEC is no longer cutting back production to try to bolster prices, because it won't work with all the new sources in N.A. Instead they're just pumping out as much as they can.

yup LOTS has changed since 2008, virtually all the things that affect oil prices have been effects that drastically increased supply and lowered demand.

WHAT???? You mean all that stuff that the Dems have been spoon feeding us all these years is a lie. It's not the speculators? It's really supply and demand all along? Go Figure.

Evil oil Companies

Here today, gone tomorrow, but January futures contracts for Gulf Coast ULSD are trading at .94/gal and .95/gal respectively. When's the last time they were that low? Meanwhile, I did a 23 gal. fillup at the local Wawa for $50, with money enough left to buy the wife and myself a delcious cup of hot chocolate!

brulaz wrote:

Likes to tow wrote:
Folks this is an election year. Don't get all excited about low gas prices. Can't you see what is happening? We were told a number of things after 2008 that explained why oil prices suddenly went through the roof. Aren't all those things still in place? Has gas come down in price around the world? Have new refineries come online? Do we have the pipe line? Think!! It ain't going to last much beyond early 2017.

Not sure if facts mean anything to you, but, Yes, gas has come down in price around the world! Less than Can$1 per litre here in Ontario.
And this is happening *after* our Canadian elections.

Not everything is a conspiracy, it's just supply and demand. Higher supply from fracking and tar sands, and lower demand due to conservation and efficiency improvements, wind&solar (in a few places).

Also OPEC is no longer cutting back production to try to bolster prices, because it won't work with all the new sources in N.A. Instead they're just pumping out as much as they can.

yup LOTS has changed since 2008, virtually all the things that affect oil prices have been effects that drastically increased supply and lowered demand.

Fuel prices are mostly dictated by supply and demand. Every year they "budget" what they think will be used in a years time. They refine and store most of that amount. If we have a year to where a lot of fuel is being used (travel, heating oil, etc) the price goes up to try and deter the demand. If it looks like the fuel is not being used up the price goes down to get people to use it up.

Likes to tow wrote:
Folks this is an election year. Don't get all excited about low gas prices. Can't you see what is happening? We were told a number of things after 2008 that explained why oil prices suddenly went through the roof. Aren't all those things still in place? Has gas come down in price around the world? Have new refineries come online? Do we have the pipe line? Think!! It ain't going to last much beyond early 2017.

Not true. Not going political cause it'll shut the thread down. But a simple Google about why oil prices are so low would show you it has nothing to do with our election year.

http://www.nytimes.com/interactive/2016/business/energy-environment/oil-prices.html?_r=0

Not sure how our government coordinated the drop in oil prices with the rest of the world to coincide with an election year.

Likes to tow wrote:
Folks this is an election year. Don't get all excited about low gas prices. Can't you see what is happening? We were told a number of things after 2008 that explained why oil prices suddenly went through the roof. Aren't all those things still in place? Has gas come down in price around the world? Have new refineries come online? Do we have the pipe line? Think!! It ain't going to last much beyond early 2017.

Not sure if facts mean anything to you, but, Yes, gas has come down in price around the world! Less than Can$1 per litre here in Ontario.
And this is happening *after* our Canadian elections.

Not everything is a conspiracy, it's just supply and demand. Higher supply from fracking and tar sands, and lower demand due to conservation and efficiency improvements, wind&solar (in a few places).

Also OPEC is no longer cutting back production to try to bolster prices, because it won't work with all the new sources in N.A. Instead they're just pumping out as much as they can.

We filled up with diesel at Walmart's (Murphy fuel station) in Perry, FL on Monday the 11th and paid $198.9/gal. Incredibly cheap for Florida with all their state and local county taxes add to fuel. Fuel in Florida has always been 20-45+ cents a gallon more than where we live in West Michigan. Was $192.9 to $196.9 when going thru Alabama.