JIMNLIN wrote:
Just paid this 1 hour ago ...
regular...4.29 at my closest local gazz station
diesel...5.12 at the same station.
red diesel....4.79 at same station.
gasbuddy was off 10 cents to 37 cents in said station.
Poor big oil companies and especially their CEOs must have it bad now.
They certainly had it bad in 2020.
In 2021, Exxon Mobil made a record profit of $23 billion. But the profits gained came after it lost $22.4 billion in 2020 because of the pandemic.
https://www.newsnationnow.com/business/at-a-glance-oil-companies-see-record-profits-in-2021/Another factor is the possibility of shortages as Oil Companies are pressured by Shareholders (If you have a 401K it's possible "you are one of them") to pass on profits rather than investing in drilling and more production.
Gas prices around me have dropped slightly but if demand keeps rising, and no more production comes to market, as the old saying goes "We ain't seen nuthin yet".
Want to get a real shock? Check out these predictions: (Warning- Be sure you are wearing your Depends before reading the price projections starting 3 years from now. There's a good reason Gas Stations are now changing their pumps so they can show more than $9.999/gallon prices.)
https://priceprediction.net/en/price-prediction/gasAll I can say is that at least one of my vehicles is a Plug-in Hybrid and my annual gas purchases for it have averaged <5 gallons per year since I bought it. Sadly, it can't tow my trailer but at least I can save up enough to buy gas for a few local camping trips a year when prices hit 2025 projections.
"Knowledge is realizing that the street is one-way, wisdom is looking both directions anyway."
~ Albert Einstein
