Posted on 01/30/2018 4:11:41 PM PST by bananaman22
For much of last year, the two crude oil benchmarks traced one another pretty closely, with Brent often trading at a relatively minor $1 to $3 per barrel premium to its American counterpart. But the spread between the two blew out after Hurricane Harvey, an event that took several million barrels per day of refining capacity offline for a few weeks. Crude oil piled up into storage, and the glut pushed the WTI benchmark down relative to Brent.
The refineries along the Gulf Coast returned to operations within a relatively short period of time, but the effects of the disaster lingered. The differential hit a peak at over $8 per barrel in late September, but still traded at elevated levels for the rest of 2017.
(Excerpt) Read more at oilprice.com ...
I still think oil needs to be delisted as a traded commodity.
But anyway, what does this say for the price of oil in the U.S.? Gas is still too damn high (we need a candidate that yells this like the NY rent dude LOL).
What needs to happen for me to pay $2/gallon again?
Time machine?
Lower taxes on gas.
I still think the answer is increased refining capacity. Trump can break the barrier on this.
Not going to happen. With talk of a one trillion dollar plus infrastructure bill, be prepared for increasing state and federal gasoline taxes.
Gas prices are high because of state taxes on it.
Most of the price is in the TAXES your local and state government slaps on.
I paid $2.44/gal today.
Find the cheapest gas in your area (sorts by zip code) here:
That doesn’t tell the true story though. About a year ago or so I paid $2/gallon. There needs to be:
1. No more seasonal gas formulation changes.
2. More refining capacity.
3. ?
Federal taxes hasn't changed. Gas has gotten more expensive
Why?
Yeah my parents are in PA. Damn fools those city PA folks are. They went from less a gallon for me (I;m in MA) to more expensive in one fell swoop. I go down there about 2 to 3 times a year. I try and take my hemi Challenger because it’s more confortable but I can get down there on one tank of gas and back on another.
The price of gas is too damn high! I need a GIF of that dude.
National security. Nation cannot function without it. Imagine putting nuclear weapons or water as a traded commodity. I just think it was a mistake.
“1. No more seasonal gas formulation changes“
This. Probably 10 cents there. I also wonder why the difference between regular and premium has gone up so much.
You don’t show any knowledge of markets in general or commodities markets in particular. Please f#$k up things that solely affect you.
That’s a very good question. I think it’s price gouging. I’d love to be proven wrong. I have a 2013 hemi Challenger and it wants 91 octane. Here in MA only Sunoco has 91 and very few. 89 is pushing it and 93 is a waste of money. The computer will adjust but it’s a gear head thing.
Remove the alcohol requirement; your price goes goes down and fuel mileage up.
Most of the Premium fuel here on the West Coast is 92. Only certain Chevron and select “Petro-Canada” stations carry 94.
My LSC likes the 94. A LOT. It gets the 92 most of the time, because I cannot justify the extra 20 cents/gallon for commuting. When I go on a road trip however, YIPPEE!
Sunoco used to have 94 here in MA but no longer. The car only see 4-5k miles a year so I can afford to spoil it. The thing is these new engines are totally different. Computer adjusts for everything, the result is less rate of acceleration compared to the old engines.
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