Gas prices
- Thread starter northcreek
- Start date
Damn it! Prices just dropped even more to $0.767/L at local stations while Costco is at $0.779? Is $0.70 next?
northcreek
Member
I remember reading that all the "easy oil" had been found and extracted and that gasoline would run out in my lifetime...well they better hurry up and run out because I can't wait around forever..
northcreek
Member
All the cheap gas that we could ever want and they're telling us to stay home...
Costco is at $0.739/L reg and $0.929/L prem. today. I wish I could hoard gas but with ethanol, it goes bad fast and it's still winter gas right now.
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If you have containers, get some StaBil and hoard to your heart's delite. There's one they make called '360 Performance' - 30ml treats 5 US gal. I use it for my Champion generator (most brands instruct you to either use fuel stabilizer or avoid ethanol altogether.
But - it's going lower, if you're willing to wait. These prices are going to be with us for awhile; the US is about to put their entire economy and workforce / populace on lockdown (like Italy), which is only going to depress gasoline demand further. In fact, one of the advisements in today's update from the national 'task force' was "avoid discretionary travel". If one isn't going to seek medical care or get food, they basically don't want us on the road at all, right now. And that might last (at least in spurts, if not continuously) until July-August (again, per their update, today)
But - it's going lower, if you're willing to wait. These prices are going to be with us for awhile; the US is about to put their entire economy and workforce / populace on lockdown (like Italy), which is only going to depress gasoline demand further. In fact, one of the advisements in today's update from the national 'task force' was "avoid discretionary travel". If one isn't going to seek medical care or get food, they basically don't want us on the road at all, right now. And that might last (at least in spurts, if not continuously) until July-August (again, per their update, today)
BrianF
Member
Well in the land of oil and gas, its still 96.9 cents a litre out here. In some of the cities its a bit less. Not sure what diesel is yet as I haven't needed to fuel up.
Sparky
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I only have one 5 gal gas can for mowers. And go figure I filled it when gas was 1.97 a gal and I just saw it for 1.77 a gal. Whatev.
This is good to see. I will be heading your way in a month or two and the TB still needs to be fed "north of the border"
Maybe that was their plan...All the cheap gas that we could ever want and they're telling us to stay home...
And as less and less people move around, the glut is increasing and the pollution is actually decreasing.
www.nbcnews.com
Coronavirus lockdown provides vivid picture of how environment recovers without people
"I think there are some big-picture lessons here that could be very useful," one scientist said.
www.nbcnews.com
northcreek
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Well, if people in Asian countries would leave pangolins alone (basically, an armored anteater), this one wouldn't have manifested itself (this virus shares 99% RNA with one that affects them). They're threatened, basically due to humans. "Revenge of the Pangolins" ? 
As for gas in my neck of the world... our traditional low price station (a nearby new grocery that prices it as a loss leader) is down to $1.89/gal; two stations near it are down to $1.99 (one being a Shell, where I often get gas). Big chunk around $2.07; most expensive is $2.35. (all pricing via gas buddy app, filtered by chains / brands where I'm willing to go) Those prices have been stable for past 2 days.
As for gas in my neck of the world... our traditional low price station (a nearby new grocery that prices it as a loss leader) is down to $1.89/gal; two stations near it are down to $1.99 (one being a Shell, where I often get gas). Big chunk around $2.07; most expensive is $2.35. (all pricing via gas buddy app, filtered by chains / brands where I'm willing to go) Those prices have been stable for past 2 days.
I filled up in Cle Elum Washington yesterday for $1.699 per gallon. Then I drove down the hill a half mile away and the price was $1.659 per gallon. This was on the return leg of a moving trip. On the first leg, the cheap gas was $2.429 per gallon. The gas in the Seattle area is still about $3 per gallon.
This morning, Costco is at 67.9¢/L reg and 82.9¢/L Prem. 
Others are in the 70-71¢ range. All this cheap gas and nowhere go to. 
Others are in the 70-71¢ range. All this cheap gas and nowhere go to.
I dug the Envoy out last night, as I needed real 4wd, and not just AWD.
Got the tank down to near empty as I dare with the truck having sat the last 3 months, and filled her up with E-0 gasoline. 2.30 a gallon. E-15 was 1.89.
Got the tank down to near empty as I dare with the truck having sat the last 3 months, and filled her up with E-0 gasoline. 2.30 a gallon. E-15 was 1.89.
northcreek
Member
northcreek
Member
Man!... if you were ever thinking of a fire breathing gas hog ride, this would be the time get one...
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Sparky
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About a buck fifty ish around here. Only used some gas on Friday because my wife needed to go to an appt (better now than later if this bug gets more widespread). Other than that, gas gauges are not moving. And the gas we have is about 45 cents more a gallon because I filled it when fuel dropped just below $2 a little over a week ago. Go figure. Oh well.
Yeah, our peso has been tanking. The world usually flocks to the US $ during times of uncertainty at the expense of other currencies unless the US economy itself goes totally to shit, which is what happened in 08-09 when the Canadian $ was above the US $ for a while. I miss those days.
Just watched this video which explains what is going on with the oil industry (it just randomly popped up as a suggested video). Although it's great for us consumers, it's not so great for the oil sector.
Makes me glad I have gone thru heaven and hell to make sure that the only debt over my head is my house. Everything else is paid for. And I owe so little on my house, my payments are low (1/4 the cost of local property rents).
I dont know if it will actually get to "Ghost Towns", but anything is possible. It has literally been since the "Great Depression" since we have seen anything like this. And the freaky part, at least for me, is we are literally one step away from Anarchy.
I dont know if it will actually get to "Ghost Towns", but anything is possible. It has literally been since the "Great Depression" since we have seen anything like this. And the freaky part, at least for me, is we are literally one step away from Anarchy.
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(source:
https://www.reuters.com/article/us-...il-cut-as-virus-destroys-demand-idUSKBN21L15A
)
FYI - if you're low on gas, you might want to top up before Monday.
OPEC+ (basically OPEC plus Russia) came up with a plan to cut production by 10% yesterday. They didn't do it by themselves; in order to cut that much, non-state controlled nations (like the US, the world's largest producer) had to sign off on the deal. Word is, the US helped broker it (b/c KSA and RUS were the cause of the current glut). Oil company reps were reportedly at the WH today, meeting with the president. Officially, the US is denying they had a hand in the deal.
Long-term, I think the price still goes down (places that hold excess capacity are filling up, and we are, frankly, months away from global economic restart ramping up demand -- and perhaps longer than that). However, futures prices of West Texas Intermediate (WTI) have jumped back up from $20/bbl at the start of this p!ssing contest between KSA and RUS, to $29/bbl now.
TL; DR -- long term, I think it falls (much) further; short-term (next 2-3 weeks), I'd fill up, unless you're sheltering in place for a while and not especially low. JMHO.
As far as 'how much' of an increase - maybe 0.50/gal USD to start (again, just a WAG on my part). As always... "Up like a rocket, down like a feather"
https://www.reuters.com/article/us-...il-cut-as-virus-destroys-demand-idUSKBN21L15A
)
FYI - if you're low on gas, you might want to top up before Monday.
OPEC+ (basically OPEC plus Russia) came up with a plan to cut production by 10% yesterday. They didn't do it by themselves; in order to cut that much, non-state controlled nations (like the US, the world's largest producer) had to sign off on the deal. Word is, the US helped broker it (b/c KSA and RUS were the cause of the current glut). Oil company reps were reportedly at the WH today, meeting with the president. Officially, the US is denying they had a hand in the deal.
Long-term, I think the price still goes down (places that hold excess capacity are filling up, and we are, frankly, months away from global economic restart ramping up demand -- and perhaps longer than that). However, futures prices of West Texas Intermediate (WTI) have jumped back up from $20/bbl at the start of this p!ssing contest between KSA and RUS, to $29/bbl now.
TL; DR -- long term, I think it falls (much) further; short-term (next 2-3 weeks), I'd fill up, unless you're sheltering in place for a while and not especially low. JMHO.
As far as 'how much' of an increase - maybe 0.50/gal USD to start (again, just a WAG on my part). As always... "Up like a rocket, down like a feather"
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BrianF
Member
We are floating around 74 cents a litre here. The bigger cities are less. We always get hosed in prices. Not sure what diesel is but my brother in prince George said diesel was around 94 cents a litre.
You know it's bad when places in bc have lower prices than the prairies.
You know it's bad when places in bc have lower prices than the prairies.
northcreek
Member
Filled up on the Res. at $1.17 US gal. I'm thinking that it will be below $1.00 next week. We've been going through full service and tipping the attendant....something that we never would have done before...
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Even NJ finally got rid of mandatory full-serve. Outside of there, and one other state (not yours), I can't remember the last time an attendant was even available to pump gas (outside of maybe a 'summon' button at the pump for disabled folks). Around here, they're surgically attached to the register; occasionally, they're let off the leash to make a pot of coffee or what not.
Here in IL, I've got the 'low cost leader' (which I never go to) at $1.84; most in the 1.95 area, and the 'high roller' at 2.05, for about the last week and a half.
For us, that's considered cheap (IL taxes the hell out of their gas, and it's now a percentage tax, not a flat one). Chicago proper is even more expensive, 'cos there's a city tax added in... city / county / state / Fed taxes, all on one gallon of gas. Glad I don't live in the Chi any more.
That reminds me... I need to get off the laptop, get dressed and go fill up the Voy... LOL
Here in IL, I've got the 'low cost leader' (which I never go to) at $1.84; most in the 1.95 area, and the 'high roller' at 2.05, for about the last week and a half.
For us, that's considered cheap (IL taxes the hell out of their gas, and it's now a percentage tax, not a flat one). Chicago proper is even more expensive, 'cos there's a city tax added in... city / county / state / Fed taxes, all on one gallon of gas. Glad I don't live in the Chi any more.
That reminds me... I need to get off the laptop, get dressed and go fill up the Voy... LOL
northcreek
Member
Full service is pretty much a Reservation phenomena since their real cash crop is Smokes. So they go all out with service.
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BrianF
Member
northcreek
Member