2014 Gasoline Price Forecast

[dmcowen674]

Looks like Oil bottomed out, over $2 jump today. I'm sure gas will follow as usual.

10-17-2014

http://finance.yahoo.com/video/oil-stabilization-183000993.html

Oil stabilization



CNBC's Jackie DeAngelis reports crude oil has bounced back over $82 a barrel.

 

[ivwshane]

Looks like Oil bottomed out, over $2 jump today. I'm sure gas will follow as usual.

10-17-2014

http://finance.yahoo.com/video/oil-stabilization-183000993.html

Oil stabilization



CNBC's Jackie DeAngelis reports crude oil has bounced back over $82 a barrel.

Posting about the latest about oil prices is one thing but do you have any clue as to what's going on?

http://www.cnbc.com/id/102096725
http://uk.mobile.reuters.com/article/idUKL2N0S70J720141012?irpc=932

 

[Londo_Jowo]

Gas prices are dropping below $2.70/gal where I live, wonder how low will it go? In the $2.40/gal - $2.50/gal range.

Hell, maybe it's time to start a drive for 2!

 

[Meghan54]

Gas prices are dropping below $2.70/gal where I live, wonder how low will it go? In the $2.40/gal - $2.50/gal range.

Hell, maybe it's time to start a drive for 2!

Same here....$2.66 today.

 

[OILFIELDTRASH]

Any price drops are temporary. It's too hard to get it out of the earth and its a limited resource. Enjoy the low prices for now.

 

[ElFenix]

Any price drops are temporary. It's too hard to get it out of the earth and its a limited resource. Enjoy the low prices for now.

are you making threats, oil thug?

 

[soundforbjt]

It usually drops right before an election doesn't it?

 

[Londo_Jowo]

I guess I'll be filling up on the way home, the Shell station just dropped the price to $2.69/gal. With my Kroger and debit discount I will be paying $2.56/gal.

http://www.texasgasprices.com/Shell_Gas_Stations/Richmond/113096/index.aspx

 

[ivwshane]

Even after I link two articles explaining why there is a price drop, people still insist on speculating. Wtf?

 

[dmcowen674]

Originally Posted by OILFIELDTRASH
Any price drops are temporary. It's too hard to get it out of the earth and its a limited resource. Enjoy the low prices for now.

are you making threats, oil thug?

I have to post this because it is such a joke:

10-18-2014

http://nextbigfuture.com/2014/10/gasoline-in-250-per-gallon-range-for.html

Gasoline in the $2.50 per gallon range for 2015 and possibly decades beyond

The average price of gasoline in the United States will soon be below $3 per gallon. This seems likely to hold for the next several years.

Citigroup's head of global commodity research, Edward Morse, believes the combination of flattening consumption and rising production should mean that "the $90-a-barrel floor on the world oil price over the past few years will become a $90 ceiling. Amy Jaffe (UC Davis) believes the average price could fall below $75, based in part on her view that oil-production costs are not fixed. "Research shows that costs track oil prices and not the other way around," she observes. As oil prices move lower, demand for drilling rigs and related equipment falls, lowering the cost of drilling.

Deepwater oil, shale oil, and oil sands are significant now and are increasing production.

Commercial trucks and ships are converting to using natural gas. There is more industrial use of natural gas. This will both reduce the future demand for oil and increase demand for natural gas.

 

[IndyColtsFan]

Where's that $4 gallon gas at, Dave? MCOWNED again.

 

[dmcowen674]

Right on cue here go the Thugs:

10-18-2014

http://www.bloomberg.com/news/2014-...go-to-midwest-as-repairs-wipe-out-supply.html

Diesel Surges From Chicago to Midwest as Repairs Wipe Out Supply



Spot diesel surged to a two-year high in the U.S. Midwest and jumped to the most in 17 months in Chicago as refinery repairs depleted the region’s supplies at a time when demand typically peaks amid the corn harvest.



HollyFrontier’s El Dorado refinery in Kansas was scheduled to shut several units for about a month of repairs beginning Sept. 28, three people familiar with the plans said Sept. 12, while asking not to be identified because the information isn’t public.



BP’s Whiting plant in Indiana shut a hydrotreater for planned work earlier this month, a person with knowledge of operations there said Oct. 7.

 

[Londo_Jowo]

Yet I paid $2.56/gal (w/Kroger & debit discount) this morning on the way to work.

I'm currently supervising work on equipment from scheduled maintenance shutdowns for several refineries in the area. Why is it that the gas prices are dropping rather than increasing with these maintenance shutdowns taking place?

My guys are working 7/12's right now and are happy as they will have extra money to spend on the holidays this year. I'm getting paid straight time overtime so it's also nice to see extra spending money as well.

 

[dmcowen674]

If the Administration has been waiting for the price of oil to drop then this is the time to fill it.

Of course that would be an excuse to crank gas prices back up at the same time.

10-19-2014

http://www.fool.com/investing/gener...ent-obama-should-refill-the-us-strategic.aspx

Why President Obama Should Refill the U.S. Strategic Petroleum Reserve



The Strategic Petroleum Reserve has not been completely full since early 2011.



With oil prices having recently fallen to a multiyear low and oil demand seeming sluggish, President Barack Obama should take this opportunity to refill the SPR to its full capacity.


In mid-2011, after the Arab Spring caused supply disruptions that drove the price of oil higher, Obama decided to withdraw 30 million barrels of oil from the SPR to meet peak summer demand.


The 30 million barrels withdrawn in 2011 and some smaller subsequent withdrawals have not been replenished. Today, there are 691 million barrels of oil in the SPR: about 36 million barrels less than its total capacity.


Some people who are delighted to see gas prices on the way down to $3 per gallon might prefer to avoid filling the SPR, fearing that this extra demand would ultimately lead to higher prices.


Today, the U.S. (and global) oil supply faces significant threats that make it worthwhile to have as large a strategic oil reserve as possible. At the same time, oil prices have fallen to multiyear lows as supply growth has temporarily run ahead of demand.


Obama should take this opportunity to refill the Strategic Petroleum Reserve to its full capacity. The benefits to the United States' energy security far outweigh the potential costs.

 

[dmcowen674]

Corn Thugs looking to increase the price of gas, no surprise, no surprise at all.

10-19-2014

http://247wallst.com/energy-business/2014/10/19/why-it-matters-that-ethanol-prices-are-collapsing/

Why It Matters That Ethanol Prices are Collapsing

Another bit of fallout from the diving demand for gasoline is just about to hit the [COLOR=#0033ff !important][FONT=inherit !important][COLOR=#0033ff !important][FONT=inherit !important]front [/FONT][COLOR=#0033ff !important][FONT=inherit !important]pages[/FONT][/FONT][/COLOR][/COLOR]. U.S. ethanol producer are approaching the so-called “blend wall,” a term that describes a situation where the 10% blend of ethanol with gasoline reaches its mandated limit. At that point, the value of ethanol collapses and producers begin agitating for a higher blending limit.

Ethanol blenders, including major independent refiners like Valero [COLOR=#0033ff !important][FONT=inherit !important][COLOR=#0033ff !important][FONT=inherit !important]Energy [/FONT][COLOR=#0033ff !important][FONT=inherit !important]Corp[/FONT][/FONT][/COLOR][/COLOR]. (NYSE: VLO) and Tesoro Corp. (NYSE: TSO), in general like the low price of ethanol, which dropped below $1.60 a gallon earlier this month, less than half the price of a gallon of ethanol at its peak in August. Blenders took a beating in 2013 when corn prices skyrocketed, demand was falling, and blenders bought renewable energy [COLOR=#0033ff !important][FONT=inherit !important][COLOR=#0033FF ! important][FONT=inherit ! important]credits[/FONT][/FONT][/COLOR][/COLOR] called RINs, bidding the price up from a few cents to more than $1.00.


Producers like Archer Daniels Midland and Pacific Ethanol Inc. are not so happy this year. The producers want the federal government to raise the federally mandated blending amounts for 2014. Refiners and blenders oppose raising mandated limits and sent a letter to the U.S. EPA outlining its case for leaving the mandated levels where they are


Why this matters to consumers is if the EPA waits too long and increases the blending requirements — unlikely but possible — the scramble for RINs and more ethanol could undo some of the drop in prices we’ve been seeing at the gas pump.

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[IndyColtsFan]

Where's that $4/gallon, $5/gallon, and $6/gallon gas McOWNED? Answer the question coward.

 

[Londo_Jowo]

Look at McOwned go!!!! Go McOwned Go!!!!!!

 

[Doc Savage Fan]

$2.63 this morning in St. Louis.

 

[dmcowen674]

China switching to Natural Gas. Then what will the Oil Thugs do?
Even Boone Pickens is asking the.

10-20-2014

http://news.yahoo.com/blogs/power-p...prices-and-keeping-it-that-way-114208791.html

Pumping for change: 'The Oracle of Oil' T. Boone Pickens on low gas prices and keeping them that way



In spite of a U.S.-led bombing campaign against ISIS in the Middle East, oil prices have dropped below $3 a gallon across much of the country in recent months. It’s an uncommon confluence of events that billionaire oil tycoon T. Boone Pickens said wouldn’t have been possible a decade ago.


“If this had been 10 years ago … you would've had oil up $50 a barrel,” Pickens, who has been dubbed “The Oracle of Oil” for his uncanny knack for predicting oil prices, told “Power Players” in a recent interview conducted at the Concordia Summit in New York City.

It’s quite a shift from just a few years ago in 2008, when gas prices across the country spiked to as much as $4 and $5 a gallon.

So, does the recent boom in U.S. oil output mean that sky-high prices at the pump are a thing of the past?


The answer to that question, Pickens believes, lies in our ability to transition to natural gas.


While other countries, such as Pakistan and China, have cut back on their reliance on traditional gasoline – and consequently, fuel costs – the United States has yet to make such a transition.

“Today, if you went out and shopped for a natural gas passenger car, you know what you see?” Pickens asked. “One Honda GX Civic and you can get the Ford F-150 pickup. If we were in Paris, France, tonight, and we were going down to shop for a passenger car, you'd see 40 that you could buy.”

“For your car and my car, the way you’re going to fuel it is in your garage. You can just hook off your natural gas,” he said. “Natural gas, from your garage, is less than a dollar a gallon. It's what it costs. It is cheap.”
But he stopped short of predicting whether natural gas cars will be a prevalent presence on U.S. roads within the next ten years.


“I don't know,” Pickens said. “I've been so wrong on that one. If you go back and look at Boone's record, do you know what you'll see? Good direction, questionable timing. I've thought things were going to happen a lot quicker than they did, numerous times.”

 

[Londo_Jowo]

Let's think about this a second..................oh, that's right...oil companies also are major players in the natural gas market.

What will McOwned choose to cry about next?

 

[Pulsar]

Corn Thugs looking to increase the price of gas, no surprise, no surprise at all.

10-19-2014

http://247wallst.com/energy-business/2014/10/19/why-it-matters-that-ethanol-prices-are-collapsing/

Why It Matters That Ethanol Prices are Collapsing

Another bit of fallout from the diving demand for gasoline is just about to hit the [COLOR=#0033ff !important][FONT=inherit !important][COLOR=#0033ff !important][FONT=inherit !important]front [/FONT][COLOR=#0033ff !important][FONT=inherit !important]pages[/FONT][/FONT][/COLOR][/COLOR]. U.S. ethanol producer are approaching the so-called “blend wall,” a term that describes a situation where the 10% blend of ethanol with gasoline reaches its mandated limit. At that point, the value of ethanol collapses and producers begin agitating for a higher blending limit.

Ethanol blenders, including major independent refiners like Valero [COLOR=#0033ff !important][FONT=inherit !important][COLOR=#0033ff !important][FONT=inherit !important]Energy [/FONT][COLOR=#0033ff !important][FONT=inherit !important]Corp[/FONT][/FONT][/COLOR][/COLOR]. (NYSE: VLO) and Tesoro Corp. (NYSE: TSO), in general like the low price of ethanol, which dropped below $1.60 a gallon earlier this month, less than half the price of a gallon of ethanol at its peak in August. Blenders took a beating in 2013 when corn prices skyrocketed, demand was falling, and blenders bought renewable energy [COLOR=#0033ff !important][FONT=inherit !important][COLOR=#0033FF ! important][FONT=inherit ! important]credits[/FONT][/FONT][/COLOR][/COLOR] called RINs, bidding the price up from a few cents to more than $1.00.


Producers like Archer Daniels Midland and Pacific Ethanol Inc. are not so happy this year. The producers want the federal government to raise the federally mandated blending amounts for 2014. Refiners and blenders oppose raising mandated limits and sent a letter to the U.S. EPA outlining its case for leaving the mandated levels where they are


Why this matters to consumers is if the EPA waits too long and increases the blending requirements — unlikely but possible — the scramble for RINs and more ethanol could undo some of the drop in prices we’ve been seeing at the gas pump.

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The reason so much ethanol is being produced it because the government continues to subsidize farming, especially corn farming, in a very large way. the support props up corn prices artificially and makes it more profitable to grow. Those subsidies (see the HUGE farm bills that get passed every so often) are fully supported by your democratic led government. So, Dave, go complain to the officials that YOU voted for. Because they are the direct cause of the over-abundance of corn.

 

[soundforbjt]

Still over $3 here...

 

[Meghan54]

The drop seems to be slowing around here, saw $2.65 today at an Exxon, only a 0.02 drop over the last few days.

 

[First]

Dave lulz

 

[Vic]

The reason so much ethanol is being produced it because the government continues to subsidize farming, especially corn farming, in a very large way. the support props up corn prices artificially and makes it more profitable to grow. Those subsidies (see the HUGE farm bills that get passed every so often) are fully supported by your democratic led government. So, Dave, go complain to the officials that YOU voted for. Because they are the direct cause of the over-abundance of corn.

Ethanol is also a very effective anti knock agent, but I'm sure that has nothing to do with why it is used.