Oil Slick Stuff

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Bought E10 for $2.28 today, saw two other stations selling for the same price. Boiled Peanut GA!
 
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Starting to fall under $2.50/gal. Expecting it to go back up for the Labor Day weekend. Probably should go out and top off my tank. :D
 
Cheap crude oil paves way for cheaper gas this fall



By Tamia Mallory | August 22, 2019 at 8:32 AM EDT - Updated August 22 at 3:33 PM


(WDBJ7) - Gas prices are expected to make a significant drop this fall, according to AAA.


The national gas price average is poised to lower due to several factors, including cheaper crude oil prices, the drop-off in gasoline demand after Labor Day and the move to winter-blend gasoline.


AAA forecasts the national average to drop to $2.40 or lower this fall.


“AAA predicts that fall gasoline prices will be significantly less expensive than this summer with motorists finding savings in every market across the country,” said Jeanette Casselano, AAA spokesperson. “Many factors are driving this decrease, but the low price of crude oil is chief among them.”


Last fall, AAA says crude prices ranged between $60 and $75. In fall, AAA expects prices to range from $50 and $60.


In the South and Southeast regions, AAA says prices at the pump could drop below $2 per gallon this fall, however any major hurricanes could change that.

https://www.nbc12.com/2019/08/22/cheap-crude-oil-paves-way-cheaper-gas-this-fall/
 
[FONT=lucida_granderegular]Oil To Hit $100? Half Of Saudi Oil Output Shut After Drone Strikes Cripple World's Largest Oil Processing Facility

Update: The WSJ is out with an update hinting at just how much the price of oil is set to soar when trading reopens late on Sunday after the Saudi Houthi false-flag drone attack on the largest Saudi oil processing plant:
Saudi Arabia is shutting down about half of its oil output after apparently coordinated drone strikes hit Saudi production facilities, people familiar with the matter said, in what Yemen’s Houthi rebels described as one of their largest-ever attacks inside the kingdom.
The production shutdown amounts to a loss of about five million barrels a day, the people said, roughly 5% of the world’s daily production of crude oil. The kingdom produces 9.8 million barrels a day.
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And while Aramco is assuring it can restore output quickly, in case it can't the world is looking at a production shortfall of as much as 150MM barrels monthly, which - all else equal - could send oil soaring into the triple digits. Just what the Aramco IPO ordered.

https://www.zerohedge.com/geopoliti...-worlds-largest-oil-processing-facility-saudi

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Don't worry. Trump said he's opening the strategic petrolium reserve - you know- the reserve that we have IN CASE SUPPLIES ARE DISRUPTED (Nothing has really been disrupted yet).


And, by the way, I filled up my car today with GASOLINE - something I rarely do , and I did it only because I was able to get it for the lowest price I have seen in a year- $2.38 a gallon for E10.


Nope- we have a LONG way to go before gasoline prices spike to unaffordable levels. Gas could go a buck higher, and hardly anybody would notice . The prices are down and falling before today, because production is going fine, and demand is falling off.

Prices locally are at a 3 month low where I am. No hike seen this morning.

Falling-prices.jpg
 
Crude edges lower after largest one-day rise on record

Crude-oil futures contracts CrCrude-oil futures contracts edged lower on Tuesday, after seeing the biggest one-day move on record in the wake of the attacks that took half of Saudi Arabia output offline. Brent crude BRN00, -6.29% fell 32 cents to $68.70 a barrel and light sweet crude CL.1, -5.91% fell 59 cents to $62.31. Oil producers still enjoyed gains, with shares of Total FP, -0.27% and BP BP, -1.72% higher in early European trade.[more]

https://www.marketwatch.com/story/c...ise-on-record-2019-09-17?mod=mw_theo_homepage
 
SoCal Drivers May Soon Pay Upwards Of $4 Per Gallon Of Gas Following Saudi Refinery Attack.


LOS ANGELES (CBSLA) — Gas prices in Southern California continued to soar following the Sept. 15 drone attacks on oil facilities in Saudi Arabia.
The average price of gas in Los Angeles jumped three cents Wednesday to $3.85 per gallon and was expected to pass the $4 mark in the next few days, according to Gas Buddy senior petroleum analyst Patrick DeHaan.
Gas prices could be on their way to $4.15 and $4.30 per gal in the next 10 to 14 days, DeHaan reported.
Prices surged 15% immediately after the attacks and as of midday Monday, Sept. 16, global oil prices moved 10% higher.[more]

https://losangeles.cbslocal.com/2019/09/25/gas-saudi-refinery-attack/
 
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