Posted on 04/01/2020 11:38:35 AM PDT by C19fan
Global oil storage could reach maximum capacity within weeks, energy analysts have told CNBC, as the coronavirus crisis dramatically reduces consumption and some of the world’s most powerful crude producers start to ramp up their output. The coronavirus pandemic has meant countries have effectively had to shut down, with many governments imposing draconian measures on the daily lives of billions of people. It has created an unprecedented demand shock in energy markets, with storage space – both onshore and offshore – quickly running out.
(Excerpt) Read more at cnbc.com ...
I filled my car with premium/no ethanol last week for $3.35. Rural Western Oregon. Premium/with ethanol in town was $2.85.
Wow0- you’re kinda high in price there too-
I paid 1.93 for regular this morning in Hogan’s Republic of MD.
Ethanol wholesale price is now much higher than RBOB wholesale. (85 vs 55 cents per gal)
Blends are actually pulling the price UP now.
Trump should issue an EO to sh*tcan blends for the interim.
South Jersey just hit below $3 and we may see self serve gasoline.
Regular unleaded was $1.19 this morning and I have Kroger fuel points and paid 19 cents per gallon for my 25 gallon Silverado.
93 octane premium was $1.86/gallon here in the north Atlanta burbs last Friday.
Ummm, No.
The proprietors will just stop/slow production. It’s still valuable in the ground, in the future.
You guys know you’re not supposed to be sniffing gasoline/petrol/benzine, right?
WHAT? 3 Gallons for tens cents again?
Thats what the old timers told me it sold for back a 100 years or so ago. When I was a kid they told me so..that is.
What about Biden then?
Perhaps its the second front in an asymmetric world war
See post #6 above. I am in W, rural Oregon also. I will wait a little longer.
It’s tax.....and the state passed a green new deal thing already this year that includes a very large increase in fuel tax.
That’s even cheaper than I remember when I was a hs pump jockey in the 60s. Maybe a quarter was the cheapest.
Hard to tell what the price of oil will do in all this mess. I saw 1.69 across town.
Don’t forget a little biocide if you’re talking long term storage. Diesel likes to grow schmutz if there’s any hint of moisture content.
I’ve heard about that but have used 5 gal plastic cans that don’t “breathe” for 10 years without it.
I occasionally look into an empty one, but the interiors seem to be clean. I rarely store past 6 months and am sure to rotate my stock.
The outsides have some tough to clean off growths, so maybe I should try some biocide on the outsides.
Something to add to the go-to-the-store list.
I’ve heard about that but have for 10 years neglected to use it in 5 gal. plastic cans that don’t “breathe”.
I occasionally look into an empty one, but the interiors seem to be clean. I rarely store past 6 months and am sure to rotate my stock.
The outsides have some tough to clean off growths, so maybe I should try some biocide on the outsides.
Something to add to the go-to-the-store list.
$1.50/gallon here (kinda central TX)
The price of gas is dropping so low I’ve discovered the pumps at the grocery won’t go below a $1/gallon on the points discount.
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