Oil Prices Plunge!

[njbasser]

Diesel is just a less refined form of fuel than gasoline. The only reason why i think it is more expensive is because so many huge machines and commercial vehicles use diesel because the engines are simpler and more reliable. I was watching the a show on tv about the Palm Islands in Dubai and it said that the dredging boats that they used to build the islands used an insane amount of diesel (6 gallons/ foot??)

[Raul]

Diesel is getting more expensive because nowdays oil companies can obtain more gasoline per barrel of oil than they used to a few years ago ( better refining technology ) so the ammount of diesel that can be obtained from a barrel of oil diminishes proportionately to the ammount of extra gasoline they obtain from the same barrel, less diesel per barrel of oil ---> more expensive fuel.

[Hookemdown.]

Diesel is getting more expensive because nowdays oil companies can obtain more gasoline per barrel of oil than they used to a few years ago ( better refining technology ) so the ammount of diesel that can be obtained from a barrel of oil diminishes proportionately to the ammount of extra gasoline they obtain from the same barrel, less diesel per barrel of oil ---> more expensive fuel.

Thanks Raul, I didn't know that.  You learn something new everyday.

[Siebert Outdoors]

Oil is currently trading down $3.52 @ $111.49.

;D ;D ;D ;D

Keep on going down.  GO GO GO!!

[moby bass]

I've been keeping tabs on it here.

http://www.bloomberg.com/energy/

Funny, our gas dropped about 20 cents several

weeks ago, when prices started to drop, then

hasn't moved since.  Also strange how every station

in the area has exactly the same price at the same time.

Where's the competition?

[roadwarrior]

Buy your gas at Walmart, Costco or stations

that are competing near them. In the Memphis

area, gasoline varies by as much as 40 cents

a gallon! We also get up to 30 cents discount

from a rewards program at Schnucks, a regional

grocery chain. With a little luck, we might break

below $3 this month!

8-)

[Siebert Outdoors]

I hope your right RW.  

Around here we never vary more then a nickel.  Usually its 2 cents.

[moby bass]

We have grocery stores that give 10 or 20 cents off per gallon up to 30 gallons for every $50.00 you spend on groceries.  We frequently get $1 or $2 off every gallon and I buy the whole 30 gal.  When price was lower

I occasionally got gas free.  Of course, many of the groceries are higher priced, you have to watch and shop the deals only.

[NaterD]

I wonder how much a station really profits from the sale of gasoline... or are they just hoping to get you in the store and purchase other things, such as Mega Millions tickets!

[Siebert Outdoors]

I wonder how much a station really profits from the sale of gasoline... or are they just hoping to get you in the store and purchase other things, such as Mega Millions tickets!

I know a guy that owns a 7/11 he is lucky if he makes 6 cents a gallon.  The money they make comes from inside.

[Long Mike]

Most retailers who wish to remain competitive are lucky if they can make 10 cents a gallon profit.

[Hookemdown.]

Gas down to 3.35

That's a .50 cent drop.

[the captain]

So this may be a stupid question, or it may have been answered already, but I still have to ask:

Why is deisel so dang high? Isn't it suppose to be like the left overs of Gasoline? If thats the case then why is my dad, who is an owner/operator of a big rig paying just under $5 a gallon?

idk either cuz it dont take nearly as much to refine deisel, the only thing i can think is that maybe they make it high cuz they know they can and get away with it cuz all the big rigs need it so they can provide the essential goods from the farm to the store and such. So basically they are just takin advantage of our dependence on oil to get rich quick...

[the captain]

Wait i know... everyone get a bicycle and ride it to work this friday... that would basically break the oil companies down because they would lose millions of dollars just in one day...lol

I highly doubt that many will do this but... anyone know a way to keep methane a liquid while its in ur gas tank???? its easy to make it however its in a gas form and u must keep it cold to make it a liquid, and if u try to burn it as a gas u will blow it up... however the liquid will burn just like gasoline...so when somebody thinks of a way to keep it cold in the tank(idk how cold but under room temp) then we can move forward with a new source...lol we can even start our own company on resource here...jk

[Glenn]

Gas finally dipped below $4 a gal this weekend in my area, although many stations are still above it.

[Siebert Outdoors]

hey RW,  what are down too today?

[roadwarrior]

Down 97 cents @ $112.82

8-)

[Siebert Outdoors]

Down 97 cents @ $112.82

8-)

Thank you very much

[brgbassmaster]

cheapest i saw it was 3.49 in texas here in new mexico it is 3.63

[Still a Bigbuckifan]

In my part of florida the cheapest I've found is $3.52

[Siebert Outdoors]

What are we at today RW?

[tyrius.]

What are we at today RW?

This website will provide you with all you need to know.

http://bloomberg.com/energy

WTI spot prices are 112.15 which is down .72.  Wholesale gas prices are up 2.23 cents though.

[roadwarrior]

Commodity markets are very volatile. We were down overnight to just north of $111, but have turned around throughout the morning session. Currently up $2.88 @ 115.80.

[Siebert Outdoors]

Thanks guys.  Good site too.

Wish it would have been down 2.88. Oh well I'll wait till tomorrow. ;D

[nboucher]

Just skimmed this thread quickly at lunchtime, but it seems to me you guys are forgetting that more than ever the market for oil is international, not just national. To the extent that gas prices in the U.S. are based on oil pricesand the correlation is not an entirely direct onethe skyrocketing demand for oil in Asia is here to stay and will only grow. Free markets in a global economy will mean more short-term volatility in oil prices and permanently higher prices in the U.S. The relationship between supply and demand is becoming much more complicated.

Don't forget: oil companies exist not to provide U.S. consumers with the lowest possible gas prices but to return the maximum financial return to shareholders. Which means a lot more global speculation and a rush to meet demandin Asia.