Fuel Prices!

[chscag]

Just thought I would post this....

On the way to do some shopping I noticed that our local QuikTrip Gasoline Station had posted the price for Regular Fuel at $1.49 per gallon. I haven't seen prices that low in at least 15 years.

Gas Guzzlers delight! Diesel fuel prices are also at an all time low. Great for those long haulers.

Charlie

 

[Raz0rEdge]

Pure supply and demand it looks like. I haven't driven more than 50 miles in the past 2 weeks and still have a lot of gas left in the tank. Another 50 cents drop and it will take us back to 90's pricing.

 

[Slydude]

If I were a member of the tin foil hat brigade I'd point out that this is a fine time for the price to go down. Gas cheaper than its been in almost two decades and no one can go anywhere.

 

[lclev]

$1.39 here in my neck of the world. It won’t last...sigh...

Lisa

 

[pm-r]

If I were a member of the tin foil hat brigade I'd point out that this is a fine time for the price to go down. Gas cheaper than its been in almost two decades and no one can go anywhere.

+1!!!


- Patrick
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[MacInWin]

Not supply and demand as much as it is the price of crude is close to $20/bbl. March 31, a bbl was $20.61. That's down $41 this year. Could be under $20 if things don't turn around. Demand is definitely down, given all the sheltering-in-place going on, but the price of crude is really a big driver.

 

[IWT]

Here in the UK, it has dropped to just under £5 per gallon.

I've seen a few stations selling it at £4.70.

Petrol is priced per litre. The above is a conversion.

Ian

 

[Randy B. Singer]

If I were a member of the tin foil hat brigade I'd point out that this is a fine time for the price to go down. Gas cheaper than its been in almost two decades and no one can go anywhere.

I wouldn't say that. Now is a marvelous time for motorcyclists such as myself to go out for a nice leisurely socially distanced ride. We do have to make sure to use a plastic bag over our hands to touch the gas pump, though.

If our government is smart (not at all a given), they will be doing things like filling our strategic reserve of oil to the brim during this period, so that oil prices don't jump up too much when this is over.

This would also be a brilliant time for the government to repair all of the roads and bridges. Lots of folks need the work, the work can be done maintaining social distancing, and there isn't a lot of traffic on the roads to cause backups.

 

[toMACsh]

$1.39 here in my neck of the world.

Same price here yesterday, at two locations known for being low price leaders. They battle it out at the same intersection.

 

[pm-r]

If our government is smart (not at all a given), they will be doing things like filling our strategic reserve of oil to the brim during this period, so that oil prices don't jump up too much when this is over.

Apparently, that is what they have been doing and one of the reasons the price is still going down, they have almost run out of storage room and the sale of gas at the pumps is well below normal that's compounding the problem.

If a lot of people start traveling more and filling up, the price per gallon will tend to rise.




- Patrick
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[badshoehabit]

It's about that now per litre in the UK!! (One US gallon = 3.7 litres)

 

[pm-r]

It's about that now per litre in the UK!! (One US gallon = 3.7 litres)

And a Canadian (and UK) gallon is 4.546 liters and a US gallon is 3.78541 liters.

Our local Co-Op price is 104.9¢/liter (Canada) per:
Find The Nearest Gas Stations & Cheapest Prices | Save On Gas

Local Co-Op and COSTCO members get an additional $0.06 - $0 0.04/liter Discount/Credit




- Patrick
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[chscag]

Why is fuel priced so high in Canada? I always thought Canadian fuel prices were on par with that of the US. Perhaps more local taxes?

 

[pm-r]

Why is fuel priced so high in Canada? I always thought Canadian fuel prices were on par with that of the US. Perhaps more local taxes?

Taxes, under various assumed names, are one of the main reasons for the higher price as well as high refining costs. And distribution and transportation costs can help add to the premium price.
But neither is it diluted with cheaper ethanol as a lot of the US gasoline is. Even in a lot of Marine gas which is completely illegal in Canada due to the fact of how it can attack rubber gas lines etc. and becomes a real safety issue.

Some examples here:
If Canada has so much oil, why is our gasoline so expensive?
If Canada has so much oil, why is our gasoline so expensive? | National Post




- Patrick
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[Rod]

Here in Melbourne Australia the price of unleaded is AU $1.18 or US $0.71 per litre on our current exchange rate, so not exactly cheap just yet but the trend is downwards and we are always slow to reflect international oil prices. Nowhere to go anyway and currently on day 10 of 14 days mandatory self isolation so can't go out at all.