So.... the Saudi's where already paying more per gallon than I currently am and now they are paying even more? Interesting but doesn't really ping my give-a-fuck-o'meter
The Oil Thugs just raised the price 80% on themselves from 24 cents a litre to 96 cents.
12-29-2015
http://news.yahoo.com/stung-low-oil-prices-saudi-makes-unprecedented-cuts-002732393.html
Long accustomed to cheap utilities and some of the lowest petrol prices in the world, Saudis woke to a shock Tuesday
Residents of the oil-rich Gulf kingdom have long enjoyed cheap prices on basic goods and services, but officials made clear that was no longer sustainable after the stunning drop in crude prices over the last 18 months.
Prices on fuel products were raised by up to 80 percent as of midnight, including a 50 percent jump in the price of the most commonly sold petrol to 0.90 riyals ($0.24) per litre.
So.... the Saudi's where already paying more per gallon than I currently am and now they are paying even more? Interesting but doesn't really ping my give-a-fuck-o'meter
Prices on fuel products were raised by up to 80 percent as of midnight, including a 50 percent jump in the price of the most commonly sold petrol to 0.90 riyals ($0.24) per litre.
While I do agree with the sentiment, Dave, as usual, got the figures all wrong......again.
The Saudis raised the price of gas, that's true. The most commonly purchased type of gas, regular, rose in price by 50%, to .24/gal. The .90 Dave saw was the price in riyals, not U.S. dollars.
Here's the part Dave used to generate his bogus figures:
Nowhere does it say gas was raised in price from $0.24/gal to $0.90/gal. Nowhere. It says the price of regular rose to $0.24/gal.
When got back to Indy local stations were $1.89, tonight they jumped to $1.99
Going back up up and awayyyyyyyy
Oil dropped back to $33 and gas dropped a whole whopping 2 cents to $1.97
The oil thug supporters in here will rejoice and go even more insane than they already are.
Americans are pointing at $2 a gallon whereas we Canadians or looking at a minimum of $1.20 a liter which equals $4.54 an US Gallon - What a Joke.
A rapid appreciation of the U.S. dollar may send Brent oil to as low as $20 a barrel, according to Morgan Stanley.
Oil is particularly leveraged to the dollar and may fall between 10 to 25 percent if the currency gains 5 percent, Morgan Stanley analysts including Adam Longson said in a research note dated Jan. 11. A global glut may have pushed oil prices under $60 a barrel, but the difference between $35 and $55 is primarily the U.S. dollar, according to the report.
“Given the continued U.S. dollar appreciation, $20-$25 oil price scenarios are possible simply due to currency,” the analysts wrote in the report. “The U.S. dollar and non- fundamental factors continue to drive oil prices.”
Morgan Stanley is not the first to forecast a drop to $20 oil, but its reasons differ from other banks. Goldman Sachs Group Inc. has said there’s a possibility storage tanks will reach their limit, pushing crude down to levels necessary to force an immediate halt to some production.
Stockpiles at Cushing, Oklahoma, the delivery point for U.S. benchmark crude and the nation’s biggest oil-storage hub, expanded for a ninth week to 63.9 million barrels through Jan. 1, according to Energy Information Administration data. The hub has a working capacity of 73 million barrels.
(1/07/16) When got back to Indy local stations were $1.89, tonight they jumped to $1.99
Going back up up and awayyyyyyyy
Looks like Dave's up, up and away turned out to be down, down and down. Avg Indianapolis price dropped straight down from $1.95 on 1/06 to $1.79 today and some of the stations in his neck of the woods are in the $1.6x range. Sure don't have anything nearly that low in Tallahassee. Avg here in $1.97.
Americans are pointing at $2 a gallon whereas we Canadians or looking at a minimum of $1.20 a liter which equals $4.54 an US Gallon - What a Joke.
Gas 53 cents - remember this when it's back up through the roof in a couple of months:
1-17-2016
http://www.9and10news.com/story/30988075/houghton-lake-gas-prices-drop-below-one-dollar
Houghton Lake Michigan Gas Prices Drop Below One Dollar
Gasbuddy.com is now reporting gas is at $0.53 per gallon at the Beacon & Bridge Market
The low prices makes Michigan the first state to see gas below $1 per gallon in years.
The price is due in part to a price war. Two stations close by are selling regular for $.95 a gallon.
Oh yeah, don't forget about this part of the article you linked:
The price is due in part to a price war. Two stations close by are selling regular for $.95 a gallon.
And the war there is over already and the prices are all now around the $1.50 range.
Oh yeah, don't forget about this part of the article you linked:
And the war there is over already and the prices are all now around the $1.50 range.
And now awaiting the Dave proclamation that gas prices have skyrocketed!!!!!
There are a bunch of self proclaimed rich Oil Thug supporters in here that are supported by this site with their lies everyday.
There's a Cruz joke in there somewhere.well that's because US dollars are worth 2 canadian dollars
Holy crap!Gas 53 cents - remember this when it's back up through the roof in a couple of months:
1-17-2016
http://www.9and10news.com/story/30988075/houghton-lake-gas-prices-drop-below-one-dollar
Houghton Lake Michigan Gas Prices Drop Below One Dollar
Gasbuddy.com is now reporting gas is at $0.53 per gallon at the Beacon & Bridge Market
The low prices makes Michigan the first state to see gas below $1 per gallon in years.
Oil down to $27 today
It's not a matter of will it go back up, only a matter of when and dumb Americans will believe the excuses yet again.
1-20-2016
http://finance.yahoo.com/news/oil-weve-130036081.html
Oil: We've Been Here Before
Last week the price of oil broke below $30 a barrel (figures in U.S. currency) and stock markets tumbled. Now some analysts are saying a retreat to the $20 level is a real possibility as none of the major producers shows signs of reducing output.
A few are even more pessimistic. Standard Chartered, an international banking group based in London, predicted last week that oil wouldn't bottom out until it reaches the $10 a barrel range, a level not seen since 1998.
In response to the continuing rout, oil companies are once again slashing capital budgets and trimming jobs. BP announced last week it would cut its global workforce by 5%, or 4,000 positions. Today Shell announced it is slashing 10,000 jobs.
It all sounds terribly grim and the deep dive in the markets has left investors fearful of worse to come. And we're not likely to see any immediate relief. But as far as oil is concerned, don't lose sight of the fact that we've been here before and managed to survive. In fact, according to the U.S. Energy Information Administration (EIA), the price of West Texas Intermediate (WTI) oil has fallen by at least 50% on five occasions since 1986. This is nothing new.
After the energy depression of 1997-98, the price remained stuck in the $20 to $30 a barrel range for several years. It only began to move sharply higher in late 2004. At that point, with demand from China growing exponentially, it rocketed all the way to $147 before the financial crisis of 2008 sent it tumbling back down to around $40.
Clearly, at current price levels many companies are facing operating losses. How long this can go on is anyone's guess but analysts (and bankers) are going to be keeping a close watch on fourth-quarter and year-end financial reports in the coming weeks. AlixPartners, a consulting company, estimates that North American producers are losing about $2 billion per week at current prices.