Oil prices crash 20-30% on collapse of OPEC/Non-OPEC deal, declining demand
 

https://www.ft.com/__origami/service...next&width=700

Prices were already depressed by declining demand (including by expected effects of the coronavirus spread on transportation) and record production in some non-OPEC countries (hello, US shale oil!).

Last week Russia refused to join OPEC in trimming production to stabilize prices, so Saudi Arabia hit back by starting a price war: by discounting its exports and increasing production.

The price shock has spread to stock markets, hitting energy companies particularly hard:

Full article: https://www.ft.com/content/804d6c82-...d-df28cc3c6a68

Time to buy that cute little commuter you've had your eye on!


https://ecomodder.com/forum/attachme...1&d=1544554962

Time to stock up.
I never filled up my 500 gallon propane tank or my stsinless tractor trailer fuel tank.
If EV prices drop enough I might be able to afford a 62kwh leaf battery.

Something like this kind of happened in the late 1990s. Asian markets imploded, but not from pandemic hysteria and the US economy soared high on the cheap oil.

Time to buy 500 gallons of diesel. Also a good time to look for deals on an EV. How long until retail pricing reflects this?

I don't have Autostarters on anything so I guess I'll have to go outside now and start everything... just in case I need to go somewhere, sometime. Ah hell, I don't NEED anything so I'll just cruise the main drag in the pickup for kicks. Let's see now, is the fun- like the pot of gold at the end of the rainbow- on this end of town, or that end? This end? That end? This end? That end? This end? That end? This end? That end? Gonna go forth and back until I find it! :confused:

https://edition.cnn.com/2020/03/08/i...bia/index.html
Say say two thousand two zero party over, oops, out of time
So tonight I'm gonna party like it's nineteen ninety-one

Gas stations near me were at 2.05 Friday morning, this morning they were 1.88 and 5 hours later at 1.79. Never witnessed it drop so fast before.

This will be a good time to watch whether gas/petrol prices actually follow the pattern of "up like a rocket, down like a parachute."

Hope this doesn't hurt new EV sales too much. I think it's a communist(and Arab) plot.

Anyone remember the best price they've paid for gas in the last 30 years or so? 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. They were actually giving gas away so they could have the lowest price in town.

Damn, I found the story.

https://apnews.com/04ce151ab6c881dccdeae8dbb5243036

JJ

Lowest sustained I can remember paying is $0.99 in Oregon. That probably means the Midwest was paying less. That was 1998 or 1999. I could fill the motorcycle, pay with a five, and get change. Fill the 1969 Beetle, pay with a ten, and get change. Fill the Dodge Ram van, pay with a twenty, and get change.