ScottN wrote:
 

Keep truckin' - safely.

$1.99/gallon

 ScottN wrote: 

 ScottN wrote:
 
So 79¢ a gallon, plus tax. Amazing.

1.29 in northern Iowa around Mason City,  Thursday evening—  at an I-35 truck stop.

 rgio wrote:
 
The Russian strategy is the correct one.  OPEC has never been able stop oil prices from going where they want to go.  OPEC has had at best a moderating, stabilizing influence on the price of oil.

The production cutbacks currently necessary to maintain Brent Crude at US$60/bbl or higher would be absolutely draconian and not feasible to enforce.

Thinking 'long term', the best strategy for OPEC+ is to go with the flow and flood the global market with oil and put as many marginal producers out of business as possible.  By marginal producers, I mean those with high costs of production, e.g., US shale oil, Canadian oil sands and many offshore ventures.  

Bankrupting as many American shale oil producers as possible will make it much easier for OPEC+ to maintain US$70/bbl or higher oil prices once the global economy recovers from the COVID-19 pandemic. 

 rgio wrote:
 
Yes, and gasoline is often a loss leader to get people into the real moneymakers: the C-store. If they have to close the stores, they'll have to pay their bills by charging more for gas. A piece on "Marketplace" this morning talked about stores giving cash discounts which some places do already to save on credit card fees, but now it's so that people will come inside and maybe buy something else too.

 rgio wrote: 
Yeah, there is a lower limit with the addition of taxes.  But last week when oil was @ $22 I saw the NYRBOB price of gas near 45¢.  Its been floating around 50¢ the past week.  I keep the tube on FBN volume off captions on as a default.  I pay most attention to commodities.  Coffee has zoomed up as of late over $1.25 lb.  Meh, its what I do.

 kurtster wrote:
 
There isn't much left to reduce, especially given the taxes.  Gas pricing isn't directly correlated to barrel pricing.  There are over 4 Billion gallons of oil storage globally, and the storage utilization generally runs in the 55%-58% range.   4 weeks ago storage utilization was at 58.4%.  Today it's around 61%.  The reason it's so cheap is that the Saudi's have promised record-high outputs starting this week to mess with Russia.  While they toil, the Iran/Iraq's of the world need any cash possible to keep their economies going.   

Not to be distracted by all of this virus fake news, POTUS got off his Pelosi bashing tweet this morning before calling Vlad on behalf of Jarod's buddy Prince Mo to see if everyone will just take a breath and stop shooting each other in the foot.  

 Proclivities wrote: 
Hah !  I know that station.  I used to live on W 130th & Lorain Road.  Where I lived during 9/11 and the great blackout of 2003.  Our place was where everyone came to finish off all of their cold beer and food.  It was one hell of a party that night.  We never ran out of tap water like the rest of the area did.  We were a mile from the lake and the water plant.  Everyone uphill above did run out for a few days.  It's was crazy up there and is even crazier now.  It was not unusual to hear a couple bursts of automatic gunfire on New Year's Eve.  I still get up there and see friends from time to time.

 kurtster wrote:
 
It's around $1.98 around here - NC drivers pay about 35¢ a gallon tax in addition to local sales tax.   Dang, Kurt,  $0.98 at Speedy Gas, 13601 Lorain Ave & W 136th St - Cleveland West

I just pump & don't pay attention much to price. Gotta have the gas either way.

oil just went under $20 bbl.

gas under $1.00 should be coming around pretty quick if this holds.

The lowest gas price I ever paid was 19.9 ¢ per gallon.  Melbourne, Florida winter of 1971 while attending Florida Institute of Technology.  My 63 Corvair got 35 mpg.  A dollar's worth went a long, long way.

With the inflation calculation gas today @ $1.00 would be equal to 15¢ in 1971.

 sunybuny wrote: 
yes you can.  At least the Bengals have made it the Super Bowl.  And the Reds have gone all the way several times.  Can't say that for our guys.  the Lebron thing is already just an asterisk in our miserable history.

 kurtster wrote:
 
Well Rock On in the mistake on the lake (I'm from Cincy - I can trash talk like that)

 kurtster wrote:
 
Right now it's $1.06 @ the Speedy Gas on Lorain Ave in Cleveland.  I have an app (Gas buddy) that shows prices everywhere.  Didn't look around much...it's the lowest price I noticed when I moved the map.

It's right around $2 in NJ

The biggest problem with comparisons on a site like RP is the tax differences.  Depending on the state, you're paying 15 to 80+ cents per gallon depending on the fuel type, on top of the federal 18 cents.  At just over 50 cents in taxes, the gallon of gas in Cleveland costs less than 60 cents from ground to tank...drilling, refining, pipelines, transportation, staffing costs...not a good time to be in the oil biz.

I don't know.  I filled up with my fuel perks last week for about 30¢ per gallon and have 20 gallons sitting in the garage I have to use or give away by April 18th when the next batch expires so I don't lose that.  We ain't exactly driving anywhere at the moment so it might be a challenge to use it up by then.

I've heard of prices under $1.20 in parts of Cleveland.

 Red_Dragon wrote:
   What state. We thought we were good with 1.85 at Costco FLA.

$1.39

$1.20 - Costco