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Discussion in 'Community Forum' started by Duster, Mar 10, 2016.
Went from $1.49.9 to $1.99.9 in a couple days here. Now gas and diesel are the same price.
Yes the Arabs must of had a bill come due.
Price of oil has been rising steadily for over a week.
Yep, same here , $1.57 to $1.97 ( Barren Co )
I had actually heard we could see it in the $3 range by May. Heard this in December. Why? I'm not sure.
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Same down here in Somerset. I think I filled up for $1.47 last week.
Some pretty good articles about oil and gas prices are always on a website I check out regularly. Its oil-price.net. It always has articles that help explain why we were still paying $1.50 /gallon with oil at $26 a barrel. Good stuff.
And will hopefully keep on going up!!!! We all need to get back to work out here. I know a lot of folks that have either lost everything, are going to loose everything soon, or are just hanging on. Just like the guys in the coal mines we are hurting too
YEP! by 10 cents/Gal. in my area.
$1.99 here too. $1.72 earlier in the week.
We're hurting up here too. Half the company I work for is laid off. I'm a little higher up the chain so I'm still here but I've went from 50-70 hours a week and always having the option of working more, to averaging about 35 hours a week. We do pipelining and well service work for several big gas and oil companies and right now we're the only contractor still working, they've let all our competition go. Our reputation has saved us so far but I sure hope it picks back up soon.
Amen brother!! So do I. Luckily my boat is still working. We have another 4-5 months left in contract. Hopefully we'll get lucky and they'll renew our contract
Gasoline jumped anywhere from $0.10 to $0.30 a gallon around the Bowling Green area in the last few days.
Oil has jumped too but none of it makes any sense to me. I've been through these highs and lows in crude oil prices all my life but this is the first time that there seems to be absolutely no logical explanation for the volatile spikes.
Right now, "they" claim every storage tank, super tanker and 55 gallon drum in the world is completely full of crude oil and demand is falling BUT the price of crude just jumped 25% in the last few weeks! WTH?
You will notice, I'm sure, that every time crude oil falls in price, the price of gasoline/diesel lags about 6 weeks but as soon as oil starts to go up, the prices at the pump start jumping before they can get the next tanker unloaded.
Something tells me that we, the producer/consumers, are just little puppets on the end of somebody's big long string and whoever that is, is making a killing on these price fluctuations.
I'm not complaining about the increase, far from it, but it looks like the only thing any of us on the receiving end can do is bend over, grab our ankles and make a wish!!
I'm not going to argue with you guys about this issue, but I will give my opinion.
High gas prices around the country was a major factor in the nation's economic downturn in the last decade or so. When gas went up, so did everything else. People stopped traveling, which killed businesses in a lot of areas that depend on tourism to survive. It cost so much to ship goods when gas and diesel were sky-high, that businesses were cutting back on inventory or raising prices to cover the fuel surcharge costs. People just stopped buying goods other than what was necessary just to compensate for what they were having to pay weekly in fuel, and the added cost of goods. When people stopped consuming goods and services, other than what was needed, the economy stalled and eventually started to fall.
I know you guys work in the industry, and when gas/oil is high, things are good for you. It just isn't good for the rest of the country IMO.
Low fuel prices for travel and commerce is always a good thing.
When oil is scarce and cryde prices are high, refiners are willing to give free storage of crude tanks to get the refining business. When there is a glut, the refiners start charging big money to store the crude while it waits to be refined. Unfortunately, the consumer gets to pay extra either way.
American oil that came from "drill baby, drill" during the Bush II years put a lot more oil on the world market. However, fracking and extracting oil from the tar sands was expensive and they needed somewhere around $75/barrel to turn a profit. The Saudis and OPEC thought they could break the new,fledgling American oil industry by pumping a bunch and making the prices fall. And it worked some, but not as well as they hoped. American companies were able to use ingenuity to reduce costs to the point where they arent bleeding out with oil around $40/barrel now. If it continues to rise, more American oil companies will start to call back laid off workers.
The plan the Saudis did hurt them quite a bit. They have been spending a bunch of their reserves to keep their economy going. The Russians also have some play in this as they are Europes main supplier. Low crude prices are really hurting the Russians economy too.
IF Obama wouldnt have made it impossible to build new gas refineries, we could have alot cheaper gasoline. But he has admitted to wanting to get us away from all fossil fuels so new refineries were out. With a couple new refineries, the US consumer could have cheap gas even with crude oil above $60/ barrel. In that situation, the American Oil industry would thrive with no unemployment and the consumer and in turn the economy would be better off.