Bent crude tops 60 a barrel

Every time an American posts about fuel costs I just roll my eyes. :B Here in town this morning I noticed the price of regular @ $1.20 Cdn per litre ... with a US gallon = 3.785 litres that means a US gallon here would be ~ $4.54 Cdn or at the current exchange rate ~ $3.53 US. Quit yer whinin'! :W

"Widening Brent-WTI price spread unlikely to change current trends in East Coast crude oil supply"

This Week in Petroleum

Put about 6000 miles a year on the RV. Get around 7 MPG. That's 857 Gallons of fuel. If the price of Diesel rises $.50, It will cost me a whopping $428.50 a year more to not change a thing. I won't be ditching my Ferrari for a Chevrolet Spark.

SoundGuy wrote:
Every time an American posts about fuel costs I just roll my eyes. :B Here in town this morning I noticed the price of regular @ $1.20 Cdn per litre ... with a US gallon = 3.785 litres that means a US gallon here would be ~ $4.54 Cdn or at the current exchange rate ~ $3.53 US. Quit yer whinin'! :W

Subtract the avg 33% CDN gas taxes versus the avg 11% US gas taxes, and the prices aren't all that different.

westernrvparkowner wrote:
Put about 6000 miles a year on the RV. Get around 7 MPG. That's 857 Gallons of fuel. If the price of Diesel rises $.50, It will cost me a whopping $428.50 a year more to not change a thing. I won't be ditching my Ferrari for a Chevrolet Spark.

That $428 comes out to $8.00 a week. If people sweat over that, they need to find a new hobby.

Speculating on fuel price increases is not on my agenda.

If you're that confident the price is going up, you should buy oil futures. The profit will pay for the more expensive fuel.

Between the USA and Australia there is enough fracking crude reserves to flood the market for decades. Brent is designated as a sweet fuel which is the opposite of Odessa stickum. It's the season in Europe to stockpile. And handling crude ain't cheap. Loading transporting and unloading via supertanker. Refineries also undergo maintenance called process unit turnarounds. They get an enema before shutting down to clean out pitch, asphalt and other heavy ends. Venezuela was a big supplier of of petroleum ex-lax in the form of very light sweet Lagomar crude. Now the USA has home-grown fracked sweet stuff.

But consumers can't get complacent and start putting pressure on the API and its cohorts to lower prices. The big enemy is government who would love to see sky high taxable pump prices. Secondly, bite big oil's ankles and suddenly there will be sixteen ongoing plant upsets (a shurnuff coincidence) which will leave refined product in short supply.

The oil pipeline is a real ##### to tweak. Shipments are purchased as much as a year in advance, supertankers, pipelines and ports all do the ballet to keep the dance going. A downturn in the economy is the gold plated monkey wrench that can cause hair loss and 10th story suicides in the commodities markets.

So, shove a tumbler of Everclear down the bar at Mr. Brent and relax.

SoundGuy wrote:
Every time an American posts about fuel costs I just roll my eyes. :B Here in town this morning I noticed the price of regular @ $1.20 Cdn per litre ... with a US gallon = 3.785 litres that means a US gallon here would be ~ $4.54 Cdn or at the current exchange rate ~ $3.53 US. Quit yer whinin'! :W

And with your prices being higher to start with, largely due to taxes, it will go up by a similar percentage for you as well, enjoy.

I didn't post the thread comment to complain about prices. Just as a warning sort of that at the pump prices will increase. I use a lot of diesel on the farm, usually buy 1000 gallons at a time so price impacts my bottom line.

When it was 4+ bucks a gallon, it really impacted my bottom line. Between the cost of fuel and spiraling fertilizer costs (inputs), the commodity cost went up which meant you grocery store prices also went up.