Thread: Oil Slick Stuff

And my 4Runner is sitting on empty!gasprices (2).jpg

My truck has a 36 gallon tank and I'm sitting just above a half tank. So far, I have $1.30 off per gallon from my local grocery chain and I'm allowed up to 30 gallons on that discount. Their gas is currently at $4.59/gallon. My luck is by the time I can take advantage of the 30 gallon purchase, gas will be over $5 again. Normally I wait until I get down to a quarter tank and grab 2 empty gas cans.

Some good news on the Oil front.

Crude is down about 20% from recent highs.
Sadly there's usually a 2-4 week delay between price drops and lowering prices at the pump (as opposed to instantaneous pump price increases as oil prices and futures go up, in the "Petroleum Cartel).
But we should start seeing some relief soon .
WTI Crude Oil.jpg

Yellen says price cap on Russian oil is ‘one of our most powerful tools’ to address inflation

Janet Yellen encourages Russian oil consumers to essentially unionize against Russia and put a price cap on Russian oil. The idea is this price cap would keep Russia's oil production profitable but not enough to fund Russia's war with Ukraine. This is an idea that has been criticized by European and Asian countries previously but Yellen presses that without a price cap the war would continue, and pump prices would continue to rise.

Within a 5-mile radius gas is $3.99 to $4.99 a gallon. Within 2-miles it averages $4.29.

The Sept Oil futures are up to $101 this morning.

Right now, gas within a 5-mile radius is $3.65 to $4.99. The average by me is $3.87.

Seems no one is really talking about the "Huge Elephant in the Room".
Namely the biggest reason stocks have been on a tear for a month.

Gas Prices.jpg

https://www.caranddriver.com/news/a4...-rate-decades/

What the heck is going on? Yesterday morning most gas stations I passed had gas between $3.35 and $3.39. By the afternoon most of them had jumped up to $3.69.

The Government is NOT! I like it the way it was!1955Gas.jpg

I noticed this morning that some stations have dropped to $3.59 a gallon