What are you guys paying for gas?

[BigHornRam]

OPEC+ Oil Production Is 1 Million Bpd Lower Than Target Level | OilPrice.com

The OPEC+ group continues to severely underperform in its oil production levels compared to the target in the pact, with February output at more than 1 million barrels per day (bpd) below the collective quota

oilprice.com

 

[Buckbrush]

The great reset. They want to reset your bank account to zero. You will own nothinging and like it. Klaus Swaub world economic forum

 

[Deleted member 20812]

Been doing business with a small independent 'service' station owner for over 3 decades. Light mechanic stuff, flats, inspections (no snacks or junk)...etc. Honest dude who runs it solo, hard to find his skillset and dependability anymore. His fuel is .10-.20 cents higher than the brand fuel burrito/soda pop stores. He told me that during last week his wholesaler forecast his price at .10 cents per day increase increments.

The historically cheaper joints here are 4.49 today...Murphy USA and ALON....so it's sliding a bit.

We have a Conoco/Napa Service Center right down the street. Can’t even buy a coke there. Owned by a local guy who was a heck of a basketball coach.

He’s always higher than the Maverick station, but if we use the Conoco app it knocks off enough to make them close.

Gas was $4.39 there last week and dropped $.10 over the weekend. Great manager, great mechanics, and incredibly trustworthy. In fact, they have the Heartbeat of America for the day tomorrow. They love that truck.

 

[Benfromalbuquerque]

So the price of crude oil per barrel on 3/8 closed at $123.70 and the price closed yesterday at $102.98. We keep being told that the price of crude oil has no impact on the price at the pump.
I guess it only works one way because the pump price always goes up instantly when the price of crude oil goes up but the price of crude oil has come down over $20 per barrel and still the prices are rising.
It is simple price gouging and greed by the oil companies.

Rocket up and drop like a feather. It’s all malarkey I tell ya!

 

[Nick87]

Pretty steady $4.40 gallon for 87 and $5.10 for diesel here.

 

[Deleted member 28227]

Down to $4.20 at the local station, from $4.33 Thursday.

 

[Deleted member 28227]

So the price of crude oil per barrel on 3/8 closed at $123.70 and the price closed yesterday at $102.98. We keep being told that the price of crude oil has no impact on the price at the pump.
I guess it only works one way because the pump price always goes up instantly when the price of crude oil goes up but the price of crude oil has come down over $20 per barrel and still the prices are rising.
It is simple price gouging and greed by the oil companies.

I see you haven’t been reading my term papers sir…

I’m a little hurt.

 

[noharleyyet]

4.29 for 93 octane this afternoon.

 

[Beignet]

Just did an expensive drive from NM back to MT. How/why is crappy 85 & 86 low octane fuel so expensive in NM and UT? Like $4.39 for 85.

Happy-ish that good old 87 is still under $4.00 in Missoula.

 

[mdeerjunkie]

Got a buck off a gallon with Kroger yesterday filled up the F150,s 36 gal tank at 2.89 a gal.

 

[mtmuley]

Joe said oil prices are coming down so fuel prices will too. He is a genius. mtmuley

 

[noharleyyet]

Joe said oil prices are coming down so fuel prices will too. He is a genius. mtmuley

@wllm1313 needs to take him to the woodshed.

 

[sam.brumbaugh6]

4.60 for 88 yesterday

 

[Jack Ryan]

$4.25

 

[BigHornRam]

‘’The Market Is Untradable’’ Oil Traders Grapple With Extreme Volatility | OilPrice.com

Extreme volatility in oil markets is here to stay as open interest in oil futures has fallen to a seven-year low, making a less-liquid market even more prone to wild price swings

oilprice.com

 

[TN_Rifle_Junkie]

Just finished drilling the first new well in the GOM in 18 months. Flow back is in progress now. Two more wells should be completed in the next two months.

That would be a total of 18,000 bpd increase in crude production. Which is a drop in the bucket of what we need to get out of this deficit.

Most of the "fleet" is still in cold stack off of Grand Isle, LA and Brownsville, TX. The companies that used to own these drilling and production platforms went belly up during the great oil slump of 2017-2021. The banks own the rigs... Who do you think is investing in the oil sector?

Active drilling rigs that can leave the GOM, ARE leaving for greener pastures overseas. Us included. Our contract terminates in 07/22 and we will not be returning to US waters for at least two years.

The best way to know what is really going on is a website called "Oil Price"
It is a straight shooting website that gives rig counts, and a lot of other statistical data concerning the Permian Basin and offshore drilling and production sector.

The largest oil "find" since the alaskan oil boom was found just a few years ago... Guess where it's at? Colorado, Montana, and the Dakotas. If you want cheaper oil and are a resident of these states, then you have to try and convince your state governments to tap the wells.

 

[BigHornRam]

Just finished drilling the first new well in the GOM in 18 months. Flow back is in progress now. Two more wells should be completed in the next two months.

That would be a total of 18,000 bpd increase in crude production. Which is a drop in the bucket of what we need to get out of this deficit.

Most of the "fleet" is still in cold stack off of Grand Isle, LA and Brownsville, TX. The companies that used to own these drilling and production platforms went belly up during the great oil slump of 2017-2021. The banks own the rigs... Who do you think is investing in the oil sector?

Active drilling rigs that can leave the GOM, ARE leaving for greener pastures overseas. Us included. Our contract terminates in 07/22 and we will not be returning to US waters for at least two years.

The best way to know what is really going on is a website called "Oil Price"
It is a straight shooting website that gives rig counts, and a lot of other statistical data concerning the Permian Basin and offshore drilling and production sector.

The largest oil "find" since the alaskan oil boom was found just a few years ago... Guess where it's at? Colorado, Montana, and the Dakotas. If you want cheaper oil and are a resident of these states, then you have to try and convince your state governments to tap the wells.

Good point mentioning the banking sector and its impact on global oil production. Interesting almost year old article on the topic. Way of thinking by some has likely changed in the past few weeks.

These are the world's largest banks that are increasing and decreasing their fossil fuel financing

The largest banks have collectively financed $3.8 trillion in fossil fuel companies since the Paris Agreement, according to the Banking on Climate Chaos report.

www.cnbc.com

"Then there’s public perception: “Lenders are more reluctant to lend to fossil fuel producers where there is a lot of environmental activism. In a totalitarian controlled economy, such activism does not have much impact,” he says."

 

[Deleted member 28227]

‘’The Market Is Untradable’’ Oil Traders Grapple With Extreme Volatility | OilPrice.com

Extreme volatility in oil markets is here to stay as open interest in oil futures has fallen to a seven-year low, making a less-liquid market even more prone to wild price swings

oilprice.com

"Why aren't we doing X right now" is a common refrain.

Well, the industry doesn't know if Oil is going to $55 or $150 and there is a reasonable path to either in the next 6 months.

 

[BigHornRam]

"Why aren't we doing X right now" is a common refrain.

Well, the industry doesn't know if Oil is going to $55 or $150 and there is a reasonable path to either in the next 6 months.

Reasonable path to both $55 and $150......multiple times in the next 6 months

 

[Deleted member 28227]

Reasonable path to both $55 and $150......multiple times in the next 6 months

All the economic sensitivities we been working on have been using $65/$75/$85 (low/middle/high)