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-   -   oil price. (https://www.fordbarn.com/forum/showthread.php?t=279740)

ford38v8 04-21-2020 12:56 PM

Re: oil price.
 

Quote:

Originally Posted by V8COOPMAN (Post 1877413)
What's amazing is the fact that we have more refineries per square mile located here on the Houston Ship Channel and across the Gulf coast to New Orleans than in any other area of the country that I can see. Yet, while we certainly have never been able to complain much about gasoline prices, it just baffles me, with SOOooo much supply right here in our back yard, why you guys can get gas for 98 cents/gallon when ours in the Houston area averaged $1.60 yesterday afternoon. DD


Short answer: Because they can.

fordwife 04-21-2020 01:01 PM

Re: oil price.
 

Here in WA state many stores post the cash price and then charge about .10c more if you use a card. Does anyone know why?

flatford8 04-21-2020 01:03 PM

Re: oil price.
 

If oil companies go under.....when demand goes up.....there won’t be enough production to meet the demand......so what do you think prices will be then???......Mark

woodiewagon46 04-21-2020 01:04 PM

Re: oil price.
 

It can be $.50 a gallon everywhere, but on Long Island it will still be over $3.00 a gallon.

flatford8 04-21-2020 01:05 PM

Re: oil price.
 

Quote:

Originally Posted by fordwife (Post 1877437)
Here in WA state many stores post the cash price and then charge about .10c more if you use a card. Does anyone know why?

I believe they have to pay a fee to honor the card....Mark

Kube 04-21-2020 01:11 PM

Re: oil price.
 

Quote:

Originally Posted by fordwife (Post 1877437)
Here in WA state many stores post the cash price and then charge about .10c more if you use a card. Does anyone know why?

Actually, at least here in Wisconsin, it's illegal to charge more to use a credit card. One can offer a discount for cash, but can not increase the price for using a card.
Yes, many places do it, but it remains illegal.
Typically, a card costs the retailer accepting it about 2%. To me, it's part of the cost of doing business - just like heating the building, etc.
And, like heating the building, etc. the cost (about 2%) is added somewhere in to my sale prices.

Kube 04-21-2020 01:12 PM

Re: oil price.
 

Quote:

Originally Posted by flatford8 (Post 1877438)
If oil companies go under.....when demand goes up.....there wonít be enough production to meet the demand......so what do you think prices will be then???......Mark

Mark, are you serious or is this a serious case of sarcasm?

Darrell S 04-21-2020 02:48 PM

Re: oil price.
 

The biggest problem with these prices is that it puts US domestic companies out of business. Low prices may seem great but I don't want to go back to being dependent on middle east oil. If the middle east oil producers have no competition you bet their prices will rise. Not to mention all the US jobs lost.

Tim Ayers 04-21-2020 03:50 PM

Re: oil price.
 

It still hasn't dipped under $2.00 in Essex Co., NJ yet. I just paid $2.19 for regular. I was hoping for cheap high test gas. Not today. High test was still near $3.00

Kube 04-21-2020 03:57 PM

Re: oil price.
 

Quote:

Originally Posted by Darrell S (Post 1877490)
The biggest problem with these prices is that it puts US domestic companies out of business. Low prices may seem great but I don't want to go back to being dependent on middle east oil. If the middle east oil producers have no competition you bet their prices will rise. Not to mention all the US jobs lost.

My gosh guys, you really need to study up a bit more prior to making comments. Did a couple of you guys realize that the US oil companies are in the top ten most profitable companies in HISTORY?
Did you know the US government GIVES billions per year for "exploration and research" to these companies?
If they go out of business, tough sh--. They have made enough profits to operate at zero profit for a long time is they so choose or, if they were smart enough to hold on to some of the funds.
I own a few small businesses that are all closed at this time. Guess what? I put away "money for a rainy day" just as Dad taught us and won't have an issue with them being closed for a long time.

petehoovie 04-21-2020 04:10 PM

Re: oil price.
 

Quote:

Originally Posted by flatford8 (Post 1877438)
If oil companies go under.....when demand goes up.....there wonít be enough production to meet the demand......so what do you think prices will be then???......Mark


When I reflect on the gas crunch of the mid '70's, I recall that I didn't care what the price was per gallon of gas. My biggest fear was not being able to find where gasoline was even available...I had a long commute back then....

flatford8 04-21-2020 04:36 PM

Re: oil price.
 

No I don’t think oil companies are going out of business.....but with demand low...production goes down.....when demand goes up, if production doesn’t keep pace...prices will definitely go up....I only asked how far do you think they will go?.....we’re at about $1.65 as the lowest I’ve seen in southern Maine.......Mark

ford38v8 04-21-2020 04:37 PM

Re: oil price.
 

Quote:

Originally Posted by Kube (Post 1877512)
My gosh guys, you really need to study up a bit more prior to making comments. Did a couple of you guys realize that the US oil companies are in the top ten most profitable companies in HISTORY?
Did you know the US government GIVES billions per year for "exploration and research" to these companies?
If they go out of business, tough sh--. They have made enough profits to operate at zero profit for a long time is they so choose or, if they were smart enough to hold on to some of the funds.
I own a few small businesses that are all closed at this time. Guess what? I put away "money for a rainy day" just as Dad taught us and won't have an issue with them being closed for a long time.


Mike, What a golden opportunity to become "Too Big To Fail"! ;) :eek:

5851a 04-21-2020 04:52 PM

Re: oil price.
 

I feel no pain for the oil companies, ever notice the price of fuel at holidays or summer travel season. The price around here used to be 2 cents less for gasohol when it came out now it's between 40 and 50 cents less. One mention of a refinery problem or news of shortage will drive the prices up at the pump.

ford38v8 04-21-2020 08:41 PM

Re: oil price.
 

Itís called collusion and price fixing. But of course, those have been protected practices Ever since the breakup of Standard Oil 109 years ago.

rbone 04-21-2020 11:19 PM

Re: oil price.
 

$0.999 per gallon for 87 octane at Buccee's in Rockwall, TX today.

RalphM 04-21-2020 11:59 PM

Re: oil price.
 

$1.94 here, and there’s a refinery 10 miles away, not to mention the Alaska pipeline in my back yard!

Lawrie 04-22-2020 01:51 AM

Re: oil price.
 

Do you guys realise we are paying 99C per litre not a gallon , and we think thats good LOl
Lawrie

dumb person 04-22-2020 02:47 AM

Re: oil price.
 

Quote:

Originally Posted by Lawrie (Post 1877653)
Do you guys realise we are paying 99C per litre not a gallon , and we think thats good LOl
Lawrie

I'm at $2 a litre and it's still good!

deuce lover 04-22-2020 03:24 AM

Re: oil price.
 

$1.27 (@ current rate of exchange)a liter here in France.


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