Shocking new gas prices [CLOSED DUE TO POLITICS. VIOLATORS BANNED]

[Bananaman]

must be getting old. I still remember gas being .29 a gallon when I was a kid. Then in high school during the gas crisis of the late '70's, everyone was griping about it hitting $1.00 a gallon!

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[j.o.y.ride]

Cute larp… if you were actually serious, you would have waited 2 weeks until oil goes to 150…

Just checking in on how things went when I sold at the red arrow and you said hold until 150...

Today was the largest single day drop in oil prices in decades.

k tks.

 

[ShadowsPapa]

Today was the largest single day drop in oil prices in decades.

I noticed that in the financials today and when I read about the brent crude dropping like that, I immediately thought of this "conversation" and chuckled to myself.....

 

[u-joint]

Just checking in on how things went when I sold at the red arrow and you said hold until 150...

Today was the largest single day drop in oil prices in decades.

k tks.

Yeah, this is why I don't try to time the market. Instead, I just buy, buy, buy.

My next pay check can't get here fast enough. If there's one silver lining to all of this, it's that the stock market is significantly undervalued, and it makes it even cheaper to pick up more shares of index funds. ?

 

[j.o.y.ride]

Yeah, this is why I don't try to time the market. Instead, I just buy, buy, buy.

My next pay check can't get here fast enough. If there's one silver lining to all of this, it's that the stock market is significantly undervalued, and it makes it even cheaper to pick up more shares of index funds. ?

Trying to time individual stocks is bad idea. But when a situation like this occurs and there's a clear cut global problem... and like COVID... it's less about 'timing' the market and more looking for the big announcement that's going to stop the madness.

Oil was running away because nobody saw an out, Russia was just cutoff. What's going to happen?! Well the announcement came of what is going to happen. 30M more barrels from reserve, get some from Venezuela who signaled theyre open to a more positive relationship with DC, and OPEC is in talks to increase production.

So when that all happened in the same day, time to sell, party is over.

 

[Geoarch]

I worked for several years with Russian people in a company founded by a Russian immigrant. Yeah, I'll bet he said that.......
The people I worked with were SO thankful to be here, living here and really loved Americans.

I work with some colleagues in St. Petersburg (the can't stand Putin), and they are great people. They do excellent research on a pittance. Now it will get harder I expect.

 

[Elff]

So with that oil price drop
When do the prices go down at the pumps?

 

[ShadowsPapa]

 

[jeepers29]

So with that oil price drop
When do the prices go down at the pumps?

Not aby time soon. The gas companies are going to get theres while they can.

 

[j.o.y.ride]

So with that oil price drop
When do the prices go down at the pumps?

comes down slower than it goes up. with summer coming and airfare wildly expensive, people will turn to driving more so demand will be higher than even anticipated.

 

[ShadowsPapa]

comes down slower than it goes up. with summer coming and airfare wildly expensive, people will turn to driving more so demand will be higher than even anticipated.

And if I may add - with the covid restrictions easing other than on aircraft, there will be more travel anyway due to those factors - lower restrictions but still mandates on aircraft. The worries and restrictions are decreasing, that means more travel - maybe not on aircraft, though.

We got the annual bill for our garbage pickup today. It went up 40 bucks a year. Fuel costs. That's not big in the grand scheme of things and our garbage pickup through a private mom and pop company is cheaper than most others would pay but still, it's a reflection on the rising cost of diesel prices.
Truck drivers - they've gone through hxxx this past year or so, the restrictions crossing borders, having to be stuck in their cab waiting for the loads to be unloaded, unable to leave their trucks and wander, and now this.............. I'm thinking about the truck drivers after again talking with one who is a friend.
The cost of getting your goods is going up.

 

[j.o.y.ride]

And if I may add - with the covid restrictions easing other than on aircraft, there will be more travel anyway due to those factors - lower restrictions but still mandates on aircraft. The worries and restrictions are decreasing, that means more travel - maybe not on aircraft, though.

We got the annual bill for our garbage pickup today. It went up 40 bucks a year. Fuel costs. That's not big in the grand scheme of things and our garbage pickup through a private mom and pop company is cheaper than most others would pay but still, it's a reflection on the rising cost of diesel prices.
Truck drivers - they've gone through hxxx this past year or so, the restrictions crossing borders, having to be stuck in their cab waiting for the loads to be unloaded, unable to leave their trucks and wander, and now this.............. I'm thinking about the truck drivers after again talking with one who is a friend.
The cost of getting your goods is going up.

I have to go from San Francisco to Phoenix next week. Last September we did the same trip and it was $500 round trip for 3 people in 1st class. Right now the cheapest single round trip coach I can find is $450 with kinda crappy times. Good times through united for 3 is $2,500 round trip economy. It's not spring training prices either...

I have to go to Vegas in April. Should be about a $75 ticket for basic economy. Right now round trip for 3 is $2,100.

Good thing we have a little 4 cyl sedan.

 

[MPMB]

So with that oil price drop
When do the prices go down at the pumps?

They don't. There might be a "lowering" from a high, but they'll never decrease to the point where it was last year... unless something else happens.

Keep the prices artificially high to cover the recent purchases at the high prices, as well as a little extra off the end consumer.

 

[MPMB]

comes down slower than it goes up. with summer coming and airfare wildly expensive, people will turn to driving more so demand will be higher than even anticipated.

With TSA security theater I avoid flying as much as possible. Luckily I don't have to travel for work.

Also, with C19 "over" there will be a lot of cabin fever people rushing to get out and about.

 

[Shopshirt]

California cannot handle current. Constant rolling blackouts in the summer here in SoCal. We shut San Onofre ( nuclear boobies ) and replaced that loss with far more expensive coal fired power imported from Arizona and a bunch of Natural Gas generation. If all of a sudden there were millions of EVs there would be no power to charge them.

When I was at Pendleton we called it Dolly Parton. LOL The running rumor in the 80s was that there was Sub access there.

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