Oil Prices Tumble

[EagleSmack]

Crude prices tumble below $35

Even with tumbling oil prices ($35 a barrel) we are still being charged about $1.67 a gallon here. How about up there?

 

[Nuggler]

:angry3: I checked the price of oil last night and it was approx $37.00bbl.

Down--way down.

Our gas, locally, has gone from 60.3/l. to 73.0/l. in five days.

Only makes sense, I guess.

Keep yer ass to the wall and the car parked.

8O

 

[Stretch]

74.9/l

 

[EagleSmack]

They are still keeping those prices high though aren't they. Not as high as they were but with $35 a barrel we SHOULD be at about $1 a gallon.

 

[Socrates the Greek]

First we have job losses, that automatically translates to less requirement for driving, that means les gas consumption, already we see the US crude oil requirement has dropped from low 25 million barrels per day down to 19M per day, that will keep the gas price at the pump for sure low until people start to get working and back in their cars once again.

This is a bad scenario as well a good scenario depending on the predicament a person is facing, you are working? You enjoy low fuel prices, you don’t have a job? You will limit the use of the car for job driving miles and the majority of people unemployed are causing indirectly gas prices to stay low.
There is so much crude building up in storage tanks, prices are falling because there are fewer places to put it.

 

[JLM]

Crude prices tumble below $35

Even with tumbling oil prices ($35 a barrel) we are still being charged about $1.67 a gallon here. How about up there?

You're lucky we're paying $3.85 here.

 

[EagleSmack]

You're lucky we're paying $3.85 here.

WOW! We are. That is amazing you pay that much. Do any folks who live on the border cross it to fill up?

 

[Ron in Regina]

WOW! We are. That is amazing you pay that much. Do any folks who live on the border cross it to fill up?

Doesn't make much sense when you live more than a couple of hours away
from a border. As far as try'n to make it make sense with, let say a slip tank,
the law says that tank (to cross a border) can't be larger than 450L and when
crossing the border, it can only contain 200L or less unless you are a licensed
bulk fuel hauler or are enrolled in IFDA (International Fuel Tax Agreement).

In Regina, Sk. today, regular gasoline is going for 83.9(CND)/L.....
-$1 CND = $0.79905 USD at this point.
- 1 USG = 3.785L
So we're paying the ebullient of $253.75/USG today....

 

[Ron in Regina]

 

[VanIsle]

You guys are all getting cheap gas. I'm paying 88.9 per litre. We were at 72.9 until about a week ago and overnight it flipped to 88.9. All the raise does is mean we drive less. I see the car companies complaining that if the cost of gas goes down then the electric cars won't sell because they are costly. Well - lots of jobs are gone so those people won't be buying any cars. Low paying jobs do not permit the purchase of an electric car. If you need a car, you just cut back on other trips. It's a lose lose situation. Oil companies were well ahead of the game when they were dropping prices rather than raising them again. People were actually starting to plan holidays but those plans are coming to a quick halt.

 

[EagleSmack]

IP...they are also saying that Car Parts sales are on the rise as people are just fixing what they have.

 

[Trex]

In Canada a large chunk of the price of gasoline or diesel consists of hidden Provincial and Federal taxes.
Add on the visible Provincial sales tax.
Tack on the GST which would result in a tax on a tax on a tax on a tax.
And there you are.
Bent over once again.

Refiners which manufacture gasoline and other petroleum based end products try to match potential demand.
Too much and the price will drop.
Make too little and the price will climb.
Guess which way they prefer the price to go?

Given the worldwide recession it's a good thing the price of all commodities is dropping like a stone.
That will help stimulate our weak economy.

The bad news is that I would anticipate most environmental plans and ideas to be scrapped in these coming lean times.
Take for example the new and somewhat expensive electric and hybrid cars.
In tough times why would people bother?
Buy a cheap beater, fill it up with cheap gas and off you go.

Trex

 

[JLM]

WOW! We are. That is amazing you pay that much. Do any folks who live on the border cross it to fill up?

Sorry I forgot something, to be fair that is for 1.25 U.S. gallons.

 

[JLM]

Doesn't make much sense when you live more than a couple of hours away
from a border. As far as try'n to make it make sense with, let say a slip tank,
the law says that tank (to cross a border) can't be larger than 450L and when
crossing the border, it can only contain 200L or less unless you are a licensed
bulk fuel hauler or are enrolled in IFDA (International Fuel Tax Agreement).

In Regina, Sk. today, regular gasoline is going for 83.9(CND)/L.....
-$1 CND = $0.79905 USD at this point.
- 1 USG = 3.785L
So we're paying the ebullient of $253.75/USG today....

There's a few things to consider to get the real picture- Our dollar is worth 80 cents U.S., when we buy gas across the line we are also paying taxes to the U.S. Gov't, that we get very little if any benefit from, then there's the cost of operating the vehicle to and from the border and then there's the time spent on two visits to customs and then there's the cost of medical coverage to protect us if something should happen while we are in the U.S. Personally if you are saving less than $20 I doubt if the trip is really worth while.

 

[Cannuck]

Crude prices tumble below $35

Even with tumbling oil prices ($35 a barrel) we are still being charged about $1.67 a gallon here. How about up there?

We pay $2.28/US gallon after you figure in exchange.