Gas is cheaper than beer!

[RenegadeJeeper]

$.80 here in OKC

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[AZ Hella]

$.80 here in OKC

No fn way. It’s still 2.40 here in Phoenix

 

[RenegadeJeeper]

No fn way. It’s still 2.40 here in Phoenix

Yeah but you can drive very few miles without seeing a drilling or work over rig... Hell they have grasshoppers in my neighborhood still producing.

 

[Melny67]

I live in Nyc and sure gas is cheaper now what I am really seeing is less traffic on the road equals better mpg. I am a truck driver and filling up my rig went from $400 a fill up to $250ish. My jeep and my truck love this cheap fuel and no traffic. At least on the brighter note of things.

 

[Chocolate Thunder]

It’s an interesting time for sure. You can thank the Saudi prince for the chaos. The energy market took a huge dive on Wall Street. Those $10 barrels of oil are just going to stockpile wherever they keep that shit. No one is losing money they just aren’t making as much. It would be nice if they keep it cheap until these crazy times are over and the country is back to work.

Storage capacity is full. Everywhere. May oil futures are trading negative - traders are paying people to take delivery of oil shares they’ve bought instead of selling them. This isn’t sustainable. Nobody wants to buy what’s already extracted because without consumption they’ll just have lots of crude oil on their hands and no buyers. Refineries supply tanks are full. June and further out isn’t full yet, but with prices as low as they are it’s a possibility that they will be affected if the situation doesn’t improve soon.

 

[Kluk Ztopolovky]

Hasn't gas always been cheaper than beer?

exactly , even in California

 

[AZ Hella]

Storage capacity is full. Everywhere. May oil futures are trading negative - traders are paying people to take delivery of oil shares they’ve bought instead of selling them. This isn’t sustainable. Nobody wants to buy what’s already extracted because without consumption they’ll just have lots of crude oil on their hands and no buyers. Refineries supply tanks are full. June and further out isn’t full yet, but with prices as low as they are it’s a possibility that they will be affected if the situation doesn’t improve soon.

They will find new places to store the barrels. Plenty of land and deep pockets. 2 or 3 months of cheap gas and then back to status quo.

 

[dsgrey]

Wholesale gas is now below 25 cents a gallon. We have upper/lower limits on carrier orders and just recently decreased the lower limit to 10 cents based on what we are predicting in the market. Of course throw in your state and government taxes of around 40 cents (depending on state) and add at least 25 cents for carrier fees and store profit. You should never see anything less than 75 cents.

 

[Chocolate Thunder]

They will find new places to store the barrels. Plenty of land and deep pockets. 2 or 3 months of cheap gas and then back to status quo.

Uh, that’s not how petroleum storage works, but OK.

 

[twisty]

Perfect time to wheel cheaply. Find a spot on the map and go explore the perfect way to social distance.

 

[jakebrake]

Ballpark 2.15 regular

 

[twisty]

Storage capacity is full. Everywhere. May oil futures are trading negative - traders are paying people to take delivery of oil shares they’ve bought instead of selling them. This isn’t sustainable. Nobody wants to buy what’s already extracted because without consumption they’ll just have lots of crude oil on their hands and no buyers. Refineries supply tanks are full. June and further out isn’t full yet, but with prices as low as they are it’s a possibility that they will be affected if the situation doesn’t improve soon.

This is spot on. Good time to buy stock ....this wont last.

 

[blnewt]

Our gas prices haven't budged in a month
But they'll damn sure go up the minute oil prices rise

 

[dsgrey]

Our gas prices haven't budged in a month
But they'll damn sure go up the minute oil prices rise

That will never change. My employer sells at the wholesale and retail level. Retail will always be slow to drop and quick to rise. As long as the price of crude is changing then more profit to be made at the retail level. It doesn't matter which way it's changing, just as long as it is changing.

 

[roaniecowpony]

Yesterday, I heard crude was -$7/barrel. That's the producer paying $7/barrel for refineries to take it.

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