03-10-2020, 10:43 AM
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#11 (permalink)
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Batman Junior
Join Date: Nov 2007
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Quote:
Originally Posted by jjackstone
Back in '86 there was a price war in the small town of Sandoval, IL. Both stations wanted to say they had the lowest price. I didn't buy at the lowest price. I had to pay 10 cents per gallon. I heard that the lowest price went down to zero.
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That is funny!
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 Today
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Other popular topics in this forum...
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03-10-2020, 10:48 AM
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#12 (permalink)
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Batman Junior
Join Date: Nov 2007
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First drop in global oil demand since financial crisis
Quote:
Global oil demand is set to contract in 2020 for the first time in more than a decade as global economic activity stalls due to the coronavirus, the International Energy Agency said on Monday.
The sharp downward revision in demand expectations came as oil prices dropped by more than a quarter and were set for their biggest one-day fall in 29 years after Saudi Arabia ignited a crude-price war in the market.
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https://www.theglobeandmail.com/busi...e-2009-due-to/
Numbers: they're forecasting 2020 demand of 99.9 bpd, down from almost 101 million bpd.
They expect the drop to be temporary, with demand rebounding when the epi/pandemic effect on transportation and industry passes.
Unless of course this mess tips countries into recession... then it'll take a bit longer. |
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03-10-2020, 03:25 PM
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#13 (permalink)
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(:
Join Date: Jan 2008
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Dropped a dime to $2.14 here, woot woot, got that pickup all warmed up.
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03-10-2020, 06:03 PM
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#14 (permalink)
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Batman Junior
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Gas is under a buck a litre here - first time in I don't remember how long.
(Though that might have been as recently as 2015 or so... I honestly don't pay attention to it that closely.)
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03-10-2020, 11:00 PM
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#15 (permalink)
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Master EcoModder
Join Date: Oct 2008
Location: Dallas Fort Worth
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Russia/ China
Russia
Putin is in a disagreement with the Saudi's and OPEC ….so all of them are pumping and exporting crude into the world market ….regardless of price free fall
China
The CCP is exporting pollution, virus, ozone holes and could care less how the whole world has to deal with any of that. The CCP exported SARS and CORONOVIRUS.. plus they have cut imports of crude oil
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03-10-2020, 11:24 PM
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#16 (permalink)
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Growin a stash
Join Date: Jun 2014
Location: Austin TX
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It couldn't possibly have anything to do with EV's.
__________________
2015 Nissan Leaf S, 164 mpge
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03-11-2020, 08:45 AM
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#17 (permalink)
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EV convert
Join Date: Jul 2011
Location: NewMexico (USA)
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Don't worry, it's all just a russian conspiracy to reelect trump.
__________________
1984 chevy suburban, custom made 6.5L diesel turbocharged with a Garrett T76 and Holset HE351VE, 22:1 compression 13psi of intercooled boost.
1989 firebird mostly stock. Aside from the 6-speed manual trans, corvette gen 5 front brakes, 1LE drive shaft, 4th Gen disc brake fbody rear end.
2011 leaf SL, white, portable 240v CHAdeMO, trailer hitch, new batt as of 2014.
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03-11-2020, 05:30 PM
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#18 (permalink)
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Not Doug
Join Date: Jun 2012
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According to Gas Buddy, prices in Arizona have declined 60˘ in the last ten months.
The cheapest place in Show Low is $2.399. I wish that I could look up one station's history to see how prices have varied locally.
I bought my first car in 2000 and I got a tank or two for under $1 a gallon with that car.
__________________
"Oh if you use math, reason, and logic you will be hated."--OilPan4
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03-14-2020, 11:19 AM
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#19 (permalink)
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Somewhat crazed
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Quote:
Originally Posted by Xist
I bought my first car in 2000 and I got a tank or two for under $1 a gallon with that car.
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In 2000 diesel for the F250 was 45-52 CENTS @ gallon.
__________________
casual notes from the underground:There are some "experts" out there that in reality don't have a clue as to what they are doing.
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03-18-2020, 10:37 PM
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#20 (permalink)
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Master EcoModder
Join Date: Jun 2009
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Oil prices could fall below zero: Analyst
https://www.foxbusiness.com/markets/...w-zero-analyst
Quote:
The COVID-19 pandemic has brought the U.S. and global economy to a standstill by prompting “shelter in place” orders, social distancing between people and the cancellation of non-essential travel. The sharp slowdown in economic activity has curtailed the need for oil.
If that weren't enough, Saudi Arabia recently slashed oil prices and raised output after Russia refused to join OPEC in deepening production cuts.
Oil is a 100 million barrel-per-day market, but Sankey says it’s possible that the economic fallout from the pandemic could zap demand, creating a 20 million barrel-per-day surplus.
He says the “physical reality” of the market is that oil is pumped out of the ground and has to be consumed or stored. When the cost of storage goes high enough -- or space runs out -- companies might pay customers to take it.
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