$00.95 per gallon gas???

[Maggot]

Gas for 95 cents? It's here — and it will soon be even cheaper ...
www.businessinsider.com › cheap-gas-costs-95-cents-at-some-stations...

12 hours ago - The coronavirus pandemic is cratering demand for oil, which is driving down the cost of gasoline. The national average is below $2 a gallon, ...

 

[Huskydriver]

Uh just paid $2.20 at Costco so sure anytime would be nice

 

[Spblademaker]

Yup. 95 cents per gallon with 2 dollars in tax attached. You know, to help rebuild the country. ?

 

[kriller134]

It’s too bad I live in a state full of dumb fucks that voted for a gas tax to “fix the roads and bridges” gas is still over 3 dollars a gallon.

 

[PinesAndProjectiles]

I'm calling bullshit. I say the price drop has more to do with the Saudi prince trying to win an oil war with Russia than it does Covid-19.

I'm currently on the East coast and the amount of traffic has dropped to probably less than 25% of normalcy. I have a hard time believing Americans are stock piling enough fuel to drop the cost to $.95 a barrel after seeing the change in traffic patterns.

 

[Doc68]

$1.79 BJ’s I paid the other day

Wow 1.79 for a blowjob. Thata a great price

 

[pmclaine]

Yes this is a Saudi Arabia vs Putin Arabia oil war.

Depressed oil useage is part of it but the oil spat is the main issue.

The story has been lost in the fog of Corona virus.

On the down side where as Corona unemployment should bounce back after the virus is under control many in our domestic oil industry will be out of work longer.

I almost wonder if this isnt a combined Saudi/Putin attack on our oil industry.

Thing is our oil industry kind of requires very high prices to be profitable.

 

[E. Bryant]

It's both. You can't take 10-20 million barrels/day off the daily demand and not crash the prices; it's classic price elasticity of demand (for those that remember their Econ 101).

 

[brianf]

It used to be, not sure about anymore..

The price of gas would only change after the high priced fuel that was already bought by the gas company was used/sold. They aren’t going to loose money on material they already bought.

If the gas company “bought” 100 barrels for a number and the next 100 barrels had a lower price when the truck filled the tanks in the ground with the new 100 barrels the price to the public would change.

 

[Anb618]

I paid $1.52 last week to fill up the wife’s car with regular. Loving it. Hasn’t been this low since shortly after I got my DL.
Been avoiding driving my truck as much as I can to save some cash since diesel is still at ~$2.40-$2.60 depending on location.

 

[JMGlasgow]

Still over $2 per gallon here.

 

[bab029]

Yes this is a Saudi Arabia vs Putin Arabia oil war.

Depressed oil useage is part of it but the oil spat is the main issue.

The story has been lost in the fog of Corona virus.

On the down side where as Corona unemployment should bounce back after the virus is under control many in our domestic oil industry will be out of work longer.

I almost wonder if this isnt a combined Saudi/Putin attack on our oil industry.

Thing is our oil industry kind of requires very high prices to be profitable.

I think you’re right. The media is pitching that this is Russia v. S.A. But the fact is that our industry is based on fracking, which doesn’t work out under about 50 a barrel.

I don’t know how natural gas works in all this.

 

[Romeo458]

We were in the $1.40 $1.50 range last I looked.

 

[Huskydriver]

I think you’re right. The media is pitching that this is Russia v. S.A. But the fact is that our industry is based on fracking, which doesn’t work out under about 50 a barrel.

I don’t know how natural gas works in all this.

Nailed it. The whole Russia vs Saudi thing is a ruse to crush American shale and fracking. Like you said to make money we need around 55-65 a barrel.

Why? 40%of this country's power plants are still fired by ng....

 

[bab029]

Nailed it. The whole Russia vs Saudi thing is a ruse to crush American shale and fracking. Like you said to make money we need around 55-65 a barrel.

Why? 40%of this country's power plants are still fired by ng....

I mean to say that I don't know what the domestic NG market looks like in light of the oil war.

I know the two products are correlated, but don't know if the NG market is being saturated in the same way.

 

[ShooterwithNoName]

It's between $1.59 and $1.99 here right now. The traffic is just starting to die down here too. I drive an hour and a half one way every day to work then the same back home. I pass so many gas stations sitting empty that are normally packed all day every day.

 

[candyx]

I remember back in the 60's gas was $.30 plus they gave you Green Stamps, Glasses, and games to win prizes. Putin was talking about his gas stations in America will give out AK-47's with every fill up which will be nice.

 

[bmash]

$1.399 @ Costco Baton Rouge

 

[Yasherka]

$1.45 at Costco in the Springs yesterday