Gas Prices Are Still Dropping With No Signs Of Stopping.

[Jeeperjamie]

$2.86 a gallon around my area and $2.79 at my PB with my BP fuel perks card. It's stayed under $3.00 since before Thanksgiving .

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[Loosescrews]

Quickly going back up here in WV with no sign of stopping.

 

[carmigo]

$2.86 a gallon around my area and $2.79 at my PB with my BP fuel perks card. It's stayed under $3.00 since before Thanksgiving .

That's not too bad, we hope we see more under $3 prices this year

 

[carmigo]

Quickly going back up here in WV with no sign of stopping.

Yikes, good luck friend. We hope it slows down soon.

 

[mtudb24]

Going up here in Michigan as well. Now over $3.25 a gallon and climbing

 

[SSinGA]

jumped as much as $.30 per gallon in the last week here in AL

 

[Zybane]

Diesel by me is almost $5/gallon again.

 

[kennyglm]

$3.75 here in PA

 

[FrankFrqnkFrank]

87 octane was $2.99 in NW IN last night and was $3.22 this evening.

 

[KVJ]

3.29 today N.E. Ohio

 

[Tupacshakur]

Not only was it a fluke anomaly, but it’s also deceiving because it is a futures market. That means it doesn’t directly mean the price of a barrel is negative, just that the futures options for said barrels was being offloaded. The barrels themselves were still worth money.

They weren’t shipping out barrels for free with $30 taped to them.

This is not correct. It's not a futures option, it's a futures contract. And yes, it means that the price is negative.

For each contract you would get paid $30 per barrel x 1,000 barrels upon delivery the next month (in this case May 2020).

 

[dajudge]

Up again in New Mexico as well. couple of weeks ago I paid 2.28, yesterday 2.90

 

[jay21mojave]

That's not too bad, we hope we see more under $3 prices this year

Obviously you aren't looking at Pennsylvania.. Friday Up to 3.79 regular AND the state tax is now $0.61 per gal on Gasoline.. Diesel higher..

 

[JohnFinx]

All of you are totally wrong. I can't believe some of the reasons that you guys are claiming that affect fuel prices. It has NOTHING to do with the price of crude, political reasons, or supply and demand. I will explain it for you once and for all.

It all starts by first extracting oil from the ground. The wells suck it up by means of a pump and a pipe, which is made of steel. The steel pipe penetrates the ground, and because of this, begins to corrode. Many people have gotten together and decided that this is bad for the environment, so just like drinking straws, they started using paper. Now a pipe made out of paper may seem like a bad idea, and it is, but there really isn't a good alternative. The corrosion was affecting the reproductive abilities of soil amoebas (specifically Globthingii Inthedirtus) producing offspring with reduced ability to pass gas. Their lifespans were shortened by up to 50% when they would suddenly explode from the pressure build up.
Anyway, you can just imagine how many times they need to change out that paper drilling pipe. It gets expensive, and the cost is passed on to the consumer.

 

[AmosMoses]

All of you are totally wrong. I can't believe some of the reasons that you guys are claiming that affect fuel prices. It has NOTHING to do with the price of crude, political reasons, or supply and demand. I will explain it for you once and for all.

It all starts by first extracting oil from the ground. The wells suck it up by means of a pump and a pipe, which is made of steel. The steel pipe penetrates the ground, and because of this, begins to corrode. Many people have gotten together and decided that this is bad for the environment, so just like drinking straws, they started using paper. Now a pipe made out of paper may seem like a bad idea, and it is, but there really isn't a good alternative. The corrosion was affecting the reproductive abilities of soil amoebas (specifically Globthingii Inthedirtus) producing offspring with reduced ability to pass gas. Their lifespans were shortened by up to 50% when they would suddenly explode from the pressure build up.
Anyway, you can just imagine how many times they need to change out that paper drilling pipe. It gets expensive, and the cost is passed on to the consumer.

Thanks for the explanation John, it makes perfect sense. Iam sure Iam not the only one here that is thankful for these paper crude oil extractors and how they are helping our environment, increasing sustainability and giving us more equity.

Even if gas increased to $7 a gallon I would still advocate using more sustainable extraction methods. I feel alot better now.

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