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Old 04-21-2020, 12:56 PM   #21
ford38v8
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Default Re: oil price.

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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.
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Old 04-21-2020, 01:01 PM   #22
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Default 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?
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Old 04-21-2020, 01:03 PM   #23
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Default 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
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Old 04-21-2020, 01:04 PM   #24
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Default Re: oil price.

It can be $.50 a gallon everywhere, but on Long Island it will still be over $3.00 a gallon.
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Old 04-21-2020, 01:05 PM   #25
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Default Re: oil price.

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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
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Old 04-21-2020, 01:11 PM   #26
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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.
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Old 04-21-2020, 01:12 PM   #27
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Default Re: oil price.

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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?
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Old 04-21-2020, 02:48 PM   #28
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Default 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.
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Old 04-21-2020, 03:50 PM   #29
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Default 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
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Old 04-21-2020, 03:57 PM   #30
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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.
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Old 04-21-2020, 04:10 PM   #31
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Default Re: oil price.

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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....
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Old 04-21-2020, 04:36 PM   #32
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Default 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
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Old 04-21-2020, 04:37 PM   #33
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Default Re: oil price.

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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"!
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Old 04-21-2020, 04:52 PM   #34
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Default 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.
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Old 04-21-2020, 08:41 PM   #35
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Default 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.
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Old 04-21-2020, 11:19 PM   #36
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Default Re: oil price.

$0.999 per gallon for 87 octane at Buccee's in Rockwall, TX today.
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Old 04-21-2020, 11:59 PM   #37
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Default Re: oil price.

$1.94 here, and there’s a refinery 10 miles away, not to mention the Alaska pipeline in my back yard!
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Old 04-22-2020, 01:51 AM   #38
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Default Re: oil price.

Do you guys realise we are paying 99C per litre not a gallon , and we think thats good LOl
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Old 04-22-2020, 02:47 AM   #39
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Default Re: oil price.

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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!
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Old 04-22-2020, 03:24 AM   #40
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$1.27 (@ current rate of exchange)a liter here in France.
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