Posted on 10/16/2025 6:49:15 PM PDT by 11th_VA
A growing glut of oil and fear of a global economic slowdown have pushed U.S. crude prices to their lowest point since fuel markets were rebounding from the Covid crash.
Most actively traded U.S. oil futures ended Thursday at $56.99 a barrel, down 2.2% on the day and 19% from a year ago. That marked the lowest price since February 2021. Declines this week bring prices below the depths of the spring selloff when President Trump unleashed a barrage of tariffs and sparked worries of economic turmoil.
The decline is good news for American consumers because cheaper crude portends lower prices for gasoline, diesel, jet fuel and heating oil. But it is an alarming situation for a U.S. oil industry already beset by narrowing profit margins and shedding jobs by the thousands...
(Excerpt) Read more at wsj.com ...
And yet California gas price still around $5 per gallon
Still haven’t seen <$3.00/gallon gas in south central Pennsylvania.
Haven’t seen that since the 2021 Buy-Dung coup.
Washington state is around $4.45.
Probably time to begin an oil investing ping list …
I got under $3 today in Maryland - but some stations are holding out - 50 cent swing in just a few miles
So when are we going to see gas prices drop at the pump?
Low energy prices spur the economy
$2.29 in Oklahoma
https://www.getupside.com/locations/nh/
Reminder, in 2020 for about 72 hours NYMEX declared the price of oil to be -$20/barrel.
That’s right. That’s a minus sign.
I can assure you that no producers shipped oil at that price.
I have heard that fracking is not economically feasible when oil goes below $50 a barrel.
$2.49 a gallon in Slidell Louisiana....
$2.49 a gallon in Slidell Louisiana....
That is correct for most wells.
Until blue states raise gas taxes.
$2.17 in San Antonio. Still not a dollar cheaper than diesel like in pre-dempanic days.
Good we can refill the strategic reserve on the cheep....
Averaging about $2.89 a gallon in the Charlotte, NC metro area. Been that price in our favorite gas station in Mint Hill for a very long time.
Those prices do NOT reflect what I saw just tonight.
They have not been that low in a LONG time.
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