Fuel prices have been dropping the past few weeks. Somewhere around $0.22 is about right.

87 running $2.67 / gallon
93 running $3.37 / gallon

Best I've seen in PNW S Willamette Valley is around $3.35 cash for 87.

$4.29 for regular on my Island Paradise.

$2.79 is average in Northeast Indiana

2.459 earlier this week for 87

Headed to STX Tuesday [450 miles each way], and towing a trailer. Hoping the fuel prices don't jump as we go south.

Gas prices are dropping because it’s an election year. There are ships being hijacked, hit with cruise missiles and drones around the Arabian peninsula. There is also a ground war kicking off in South America over prime oil grounds. I see no other explanation than massive manipulation.

quote:

Originally posted by Voshterkoff:
Gas prices are dropping because it’s an election year. There are ships being hijacked, hit with cruise missiles and drones around the Arabian peninsula. There is also a ground war kicking off in South America over prime oil grounds. I see no other explanation than massive manipulation.

That's one thing I don't understand. Would it not make more sense to keep prices at record highs to undermine the chances of a Biden reelection? Why lower prices and aid the man who swears to eliminate your industry within a decade?

quote:

Originally posted by Voshterkoff:
Gas prices are dropping because it’s an election year. There are ships being hijacked, hit with cruise missiles and drones around the Arabian peninsula. There is also a ground war kicking off in South America over prime oil grounds. I see no other explanation than massive manipulation.

There is massive manipulation, but it's by OPEC not the US Gov't, the Deep State, etc.

OPEC (i.e. oil cartel) controls 36% of world's crude oil production, and OPEC+ countries (i.e. Russia plus the junior varsity members) add another 18 to 20%. Saudi (#2 producer) and Russia (#3 producer) bear most of the brunt on production cuts when the cartel wants to increase prices. Most cartel members spend money like drunken sailors on shore leave, and their economies can't survive low oil prices. They're also not accountable to shareholders every quarter and can focus more on long-term strategies.


OPEC and OPEC+ have been in voluntary production cuts since 4Q22, increased cuts 2Q23, and just last week agreed to more cuts at least thru 2Q24.

The good news is that capitalism is alive and well, and when oil prices were high many, many new wells were drilled. For example, US (#1 oil producer) increased production 10% (i.e. 5x more than US crude oil consumption increased) mainly in West Texas despite the Biden administration. US oil supermajors are increasing oil production in:

Chevron - Kazakhstan and US

Conoco - Malaysia and Norway

ExxonMobil - Guyana (2015 discovery and now Top 20 oil reserves in the World) and US.

Chevron recently bought Hess to give them a percentage of Guyana. Conoco recently bought out Shell in West Texas and Surmont in Canada. ExxonMobil recently bought Pioneer to double their West Texas position. The good news is that they're all money hungry capitalists out to improve stock prices for their shareholders, and they can have a big impact on countering OPEC/OPEC+ production cuts.

The bad news is that OPEC is trying to counter their decreasing ability to impact prices by courting Brazil (top 15 in oil reserves) and Guyana into joining OPEC+.

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Ego is the anesthesia that deadens the pain of stupidity

DISCLAIMER: These are the author's own personal views and do not represent the views of the author's employer.

Having two diesel cars, the price of gasoline doesn't bother me much. However, diesel hereabouts has now gone waaay down from last December, and is now just $9.45 a gallon.

I had to run some errands the other day and went by a grocery store where my wife shops. I noticed that their gas was $2.59/gal. I thought since I needed some I'd stop and fill up. They allow discounts to their customers...I entered our discount code...I guess no one had bought gas in a while and our discounts had built up....I bought gas for $1.59 a gallon!!!!!!!10.09 gallons cost me $16.00.

2.42 At the QT in north Texas yesterday for regular.

Paid $2.79 for Mobil this morning. I try to stick with the top tier fuel. This Mobil is convenient, Costco is the cheapest typically ~20 cents cheaper per gallon but out of the way. Shell gives me 3-5 cents off per gallon since I have their app.

quote:

Originally posted by 610:10.09 gallons cost me $16.00.

Ten gallons here cost a Whopper short of a hundred bucks....

quote:

Originally posted by tacfoley:

Ten gallons here cost a Whopper short of a hundred bucks....

Isn't your gallon about 20% larger than the U.S. gallon?

Topped up the Expedition this afternoon. $2.379/gal for 87
Will be putting a tank of 93 in the Explorer in the morning, at least in my former F150, Ford recommended 93 for towing & I'll be hauling a 12ft trailer with a Mule on it.

I haven't had to buy gas in several weeks now so not really sure what my go-to station is charging. Other stations I've seen in my area were hovering around the $2.60/gal mark for 87 octane...

quote:

Originally posted by V-Tail:

quote:

Originally posted by tacfoley:

Ten gallons here cost a Whopper short of a hundred bucks....

Isn't your gallon about 20% larger than the U.S. gallon?

More or less 5 quarts to your four quarts, but even so.........

93 octane just cost me $3.77 in NE OH. It’s up about 10cents from last week.

On a downward trend the last couple of months, now as "low" as $2.67.