Posted on 03/15/2020 5:37:51 AM PDT by Oldeconomybuyer
NEW YORK - At two gasoline stations in Scarsdale, a wealthy suburb of New York City not far from one of the nation’s worst outbreaks of coronavirus, attendants whiled away the minutes on a rainy Friday morning at what would normally be their busiest time of day.
“We’ve had one or two customers - that’s it,” said Julio Barrios as he sat under an umbrella at the full-service Shell station in downtown Scarsdale. “For more than a week, business has been slow.”
The coronavirus has infected at least 138,000 people worldwide and killed more than 5,000, rocking the global economy.
As cases steadily grow across the United States, Americans are cancelling road trips, running fewer errands and finding they don’t have to drop their children off at school following widespread closings.
The irony is that drivers are parking their cars at a time when gasoline is more affordable, which usually spurs more driving. The average price for a gallon of gasoline is $2.28, lowest since 2017, according to the American Automobile Association.
The United States consumes more than 20 million barrels of oil and petroleum products daily, the most worldwide, and motor gasoline accounts for nearly half of that, at about 9 million barrels a day. But the coronavirus outbreak’s effect on driving activity is expected to be drastic.
“We would estimate commuting and leisure driving will be down up to 50%, with most impact in the northern states where the virus spreads faster now,” said Per Magnus Nysveen, senior partner at Oslo, Norway-based energy research firm Rystad Energy.
(Excerpt) Read more at reuters.com ...
Smart traders (like Warren Buffet) will buy some idle oil tanks, fill ‘em up at today’s prices and sell when the demand and higher prices return.
I begin to think coronavirus is a mental disease.
I begin to think you're spot on!
not far from one of the nation’s worst outbreaks of coronavirus, “
LOL! Yep, acres of dead and dying.
Reueters knows so little about supply and demand, they think that’s irony.
$3.59 in Thousand Oaks, Calif. Almost $2.00 more then in Atlanta. The tax money is for the big fat pensions for state workers.
Atlanta lowest price today: $1.74
Stephanie deaie......
Guess what? In your ignorance you just defined the law of supply and demand price fluctuation
Yes, but there is a premium for living in California. It’s stated in the price of gasoline.
Time to take the family for a Sunday drive!
The irony is that drivers are parking their cars at a time when gasoline is more affordable, which usually spurs more driving.
—
Supply and demand apparently elude the grasp of the journalist.
“the most worldwide, and motor gasoline accounts for nearly half of that..”
Electric motors use gasoline?
Since when?
Engines use gasoline.
Journalists don’t do much of anything except word salad and bad propaganda.
No kidding. I saw the headline and thought "In other news, water is wet." I guess we shouldn't be surprised that the law of supply and demand escapes the grasp of a bunch of socialists who think the energy fairies should just pedal everyone's cars to eliminate all poliution.
Traditionally, the retail price of a quart of oil has been close to the retail price of a gallon of gasoline in a stable market. Today's market is not stable and it will probably take awhile for things to level out.
You can get two 5 quart containers of synthetic at Costco (Kirkland house brand) for 25 bucks. It’s produced by Warren and gets the PQIA seal of approval and qualified to GM Dexos spec.
Google the Pure Gas website for a station near you.
Wonder why they call it the Indianapolis Motor Speedway?
We don’t need leftists’ opinions on what Americans need. Price drops benefit truckers and industry, and non-frightened citizens are still driving.
A guy we know is fixing my Magnum Hemi.
Even if there’s nowhere open to go, I’m gonna crank up the stereo and drive that sucker like I stole it, all over the place, on all that cheap gas.
#2w9 yeah we get high crime, lots of traffic, lots of people crowding everywhere, on street parking where you rarely see the curb, walled in homes, generally dirty. High taxes with promises of more taxes to come.
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