Got some gas tonight in my truck
It was at a Mobile gas station here in Ontario
The prices have really gone down around here
Price is in Canadian money per L
Before they started to drop it was around $1.20 for the cheap stuff
A question
We have an extra fuel storage tank that is empty here on the farm
How long could I store some 93 to make it worth the trouble with buying in bulk ?
PS do not know what is up with the price on the 89 as I did not notice till I looked at my picture :yesnod:
This has been slowly building. Demand is slacking off in other parts of the world, production has been running high. We can't gather in groups, but we can take a nice long drive.
In Mississauga I paid 70.6 at a Pioneer station, haven't been driving anywhere though.
Gas prices are down, but there's not much point in thinking about that when people are pretty much broke right now...
Here in PA, depending on the gas station, prices are down anywhere from 30-50 cents a gallon from just a few weeks ago. Might even be less by now, as I haven't driven past a gas station in a few days.
Oil barrel has dropped half of its price since the Covid-19 crisis began to be a heavy problem. But the gas stations just dropped some cents.
Now when oil barrel price raises up, the increase price at stations is not just some cents!
Notifing, Spain is the same. Diesel price dropped around 10-12 cents, and Gas around 10 cents too ( Euros by liter )
Quote from: Nacho-RT74 on March 19, 2020, 05:46:52 AM
Oil barrel has dropped half of its price since the Covid-19 crisis began to be a heavy problem. But the gas stations just dropped some cents.
Now when oil barrel price raises up, the increase price at stations is not just some cents!
Notifing, Spain is the same. Diesel price dropped around 10-12 cents, and Gas around 10 cents too ( Euros by liter )
I'll be lucky to have a job by the end of the Summer at this rate.. Everyone in the oil/gas sector will be hurt hard and it will spread.
Paid $1.69/gal for regular here a couple days ago...
Ethanol doesn't last long in storage. Watch Youtube test by Project Farm. He tests some. After several months in storage he can't get it to burn on the table.
Alberta Canada gets less for their Oil as most of it is a Heavy blend called "WCS" or Western Canada Select
which,
at one point yesterday was trading at $7.50 a Barrel !... before bouncing back up to $9.00 a Barrel at the close.
Now just say'in here.....
every time in the past when Oil RISES as it's done many times throughout history.... Gas Prices SKYROCKETED because as the old argument was nothing anyone could do about the base Price of Oil as the biggest imput cost ?
which...
by my calculations from above would indicate we should see in the order of .45 Cents a Litre here in Canada at some future point ?
It will never happen as we all know.... because Big Oil here in Canada is on Tax Payer life-support... but just nice to dream ? :slap:
It's not low so much because of the virus, but the oil price war between Russia and Saudi's
Should last till end of year.
Luke
Down about 55 cents in the last month.
Quote from: lukedukem on March 19, 2020, 11:07:38 AM
It's not low so much because of the virus, but the oil price war between Russia and Saudi's
Should last till end of year.
Luke
Quarantines around the world made to need less fuel requirements, and a winter what ended being kinda soft, made the home heaters to work less. Factories and industries also closed or partially closed.
If I was you'd I'd be buying gas over in Roseneath on the reserve/hwy 45.. it was 57.9 last week.. 44.9 with a status card.
Quote from: birdsandbees on March 19, 2020, 11:37:39 AM
If I was you'd I'd be buying gas over in Roseneath on the reserve/hwy 45.. it was 57.9 last week.. 44.9 with a status card.
Yes I saw it was 59.9 last time I looked :2thumbs:
Saudia Arabia and Russia have flooded the world oil market hoping to tank each other's economy. All the while the United States is buying it all up to squirrel away in our petroleum reserves.
Our barrel prices have gone down as well as a result but that doesn't mean we will go broke buying it on the market for pennies on the dollar
Paid $1.50/gallon for regular unleaded yesterday here. Paid $2.02/gallon for premium unleaded to fill up my '68 later in the day. Nice!
Quote from: Nacho-RT74 on March 19, 2020, 11:16:52 AM
Quote from: lukedukem on March 19, 2020, 11:07:38 AM
It's not low so much because of the virus, but the oil price war between Russia and Saudi's
Should last till end of year.
Luke
Quarantines around the world made to need less fuel requirements, and a winter what ended being kinda soft, made the home heaters to work less. Factories and industries also closed or partially closed.
Add to that the reduction in airline travel...millions of gallons daily! :yesnod:
I saw a $1.59 yesterday on my water home from work. To bad I still have a 3/4 tank full.
Quote from: 6pkrtse on March 20, 2020, 08:23:28 AM
I saw a $1.59 yesterday on my water home from work. To bad I still have a 3/4 tank full.
Every time I drive past a gas station and the price is less than the last time I got gas I stop and I have 3/4 tank :icon_smile_big:
Not like I have too many other things to do for entertainment
I'm gonna go out on a limb and say,..sub $1.00/gallon gas prices by summer, maybe sooner. With the economy in free-fall due to all these Coronavirus quarantines, gas is going to get very cheap pretty soon.
Lower prices at the pump in Wisconsin, I haven't checked, but has racing fuel prices gone down?
40 miles out side Boston MA has not gone down much. $2.24 for 87 octane. Only down about .15 cents
Drove by a gas station in town today and it was selling regular for 62.9 cents per L
That is almost half price of what it was before prices started to drop
My gas gauge was still sitting on the full line so I did not get any :P
A little math and knowledge can give you an idea of how much a gallon of gas should cost.
Oil at $42/bbl gives about $1.00 for the oil (if all the oil is converted to gasoline, it isn't, only about 1/2 but let's not make this too complicated.)
Cost to process oil is about 0.20 - 0.30 per gallon (includes a lot of stuff, some folks on here can give better details.)
Profit to the oil company distributor, retailer is about 0.15 -0.20 per gal.
Total is $1.35 - $1.50.
So we should see something lower when oil is $24
Oil = 0.57
process = 0.25
profit = 0.20
total = $1.02
I wouldn't bet on it getting that low but I wouldn't be surprised to see $1.40. The oil companies etc are not charitable institutions.
Also, think about ethanol. Spot price today was about $0.90 down from $1.60. At what point do farmers stop growing corn as fuel?
10% ethanol means it's contribution has gone from $0.16 to $0.09.
Edit, completely forgot about tax! I'll leave that to everybody to figure for their state.
Last night I saw it at 59.9 /L
Back up to 62.9/L this morning
To bad they don't stop adding ethanol to fuel and convert to isopropyl production. :scratchchin: