oil / gasoline price watch

[MetroMPG]

Steddie: come to Canada!

Gas could be the cheapest in 7 years when you fill up for the Canada Day weekend

This weekend will "put to rest the myth" that gas prices always go up for the holidays

Canadian motorists hitting the road for the country’s 150th Canada Day weekend are expected to find the lowest average gasoline prices in seven years, according to GasBuddy.com.

Gas could be the cheapest in 7 years when you fill up for the Canada Day weekend | Financial Post

[gone-ot]

Canadians aren't 'cheap,' they're 'frugal.'

[steddie]

G'day there,
Thanx for your invitation to come to Canada Batman Junior, but no thanx.
Ive been to Canada 2 times and it is beautiful, but its to cold there and the winters are to long to my liking.
Greetings,
Eddie.

[nemo]

Certainly not the cheapest around.

[MetroMPG]

Typically February is when fuel prices in North America hit their annual lows, when oil refineries shut down for spring maintenance and the switch-over to "summer" blend gasoline. This causes a drop in gasoline stockpiles, and prices start to rise (and people start driving more as the weather improves):



But it appears 2018 is doing something different, so far:

U.S. gasoline and diesel are both the most expensive they have been at this time of year since 2014 and, in contrast to the normal seasonal pattern, pump prices are already rising. The same is true in Europe.

Source: Oil’s rout is over, hail the return of $100 crude

It seems the GLUT is diminishing. Compare July 2016...



Latest:



However, US crude production is also at all-time highs, so where this will go is still anyone's guess.

[ksa8907]

My observation may be a small impact and is certainly speculation, but locally I have seen seasonal construction start even as winter is in full swing. Perhaps the economy and even the tax bill will push construction to start sooner and thus increase demand? All those peices of large equipment have big fuel tanks.

[rmay635703]

Low fuel prices coupled with areas that normally don’t have winter is resulting in poor decisions driving up fuel prices.

Next bust cycle for trucks is likely a few years away.

[MetroMPG]

Does that mean it's time to stock up on cheap used Leafs, Prii and Mirages?

[rmay635703]

Originally Posted by MetroMPG

Does that mean it's time to stock up on cheap used Leafs, Prii and Mirages?

I’ve got 2 EVs and 2 Insights

Must have been a good bet.

[redpoint5]

Originally Posted by MetroMPG

Does that mean it's time to stock up on cheap used Leafs, Prii and Mirages?

I hope so. Where is my sub-$5k 2013 Leaf? Can hardly wait for the next model to begin selling and flood the market with "undesirable" first gen units.