$25 barrel oil damn $1.25 gas is here and or less!

[DGatzby]

I am on a little “road trip” again this weekend (not in a Challenger). Damn gas spread in three States seems like $0.40-$0.50 per gallon. Pays to shop around!

 

[sad]

That makes sense. "You people" are the only ones whining about low fuel prices . The rest of us are grateful we can have some money left over to buy an ice cream cone after we fill up out tanks .
But alas I know it won't last long and corporate greed will rear it's ugly head once again

My rant is over . (I'm a little cranky with all this corona Crap going on. )

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Nice of you to keep it personal.

In any case.... A pure downstream organization is one of the most transparent businesses out there... Our primary commodity is traded on an open market (crude).... so the general public has a very good idea of the basis for our COGS...

I know this is going to be a shock for some.... But we don't set gas prices.... As a matter of fact, we only own a single gas station (one to be run as a corporate example of marketing programs).... Gas prices are set by the marketers and influenced by the local market.

^^ this is true for most refiners

Like I said before, a pure refining organization is a business of margins or spread. We don't have a single drilling rig. We buy crude on the open market. The trends of crude and local gas prices run lock and step with each other...

All so we can make our razor thin 4% margin.

 

[Jack_Toepfer]

I’ll take 4% of a few billion, the company I worked for survived off of less than that pretty easily.

Anyway, I’ll be happy when filling my truck doesn’t take 2 swipes of the credit card when the pump stops after $100.

 

[Jungle Cat]

The cheapest I am finding regular here in Mass is 1.99 and that is for Shell. Incredible. I can’t remember the last time I paid less than $2? Of course Premium is a bit more but I drive my Hellcat less often. It’s getting to be time to take it out of mothballs so it will be a big help. This picture was taken from the parking lot of a supermarket across the street that was panic city. Kind of ironic I thought.

 

[Hpindy]

Sorry I don't buy in to all the "big oil " propaganda.
Btw I have nothing against you personally .


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[Jungle Cat]

I’ll take 4% of a few billion, the company I worked for survived off of less than that pretty easily.

Anyway, I’ll be happy when filling my truck doesn’t take 2 swipes of the credit card when the pump stops after $100.

Ya that two swipes of the credit card sucks! I haven’t had to do it in a while. My Silverado fill up is less than $60 now

 

[Jungle Cat]

Sorry I don't buy in to all the "big oil " propaganda.
Btw I have nothing against you personally .


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Big oil employs hundreds of thousands of people if not millions indirectly. They are a part of most of our 401ks and investment portfolios. They are a huge part of our lives and very culture. When I see guys like Boob head Bernie Sanders talking them down I like them even more. Destroy big oil and we go down with it. The windup cars and planes aren’t coming anytime soon so oil is here to stay.

 

[Hpindy]

I’ll take 4% of a few billion, the company I worked for survived off of less than that pretty easily.

Anyway, I’ll be happy when filling my truck doesn’t take 2 swipes of the credit card when the pump stops after $100.

Suncor 3rd quarter earning for 2019 $1.114 billion .

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[Jungle Cat]

I remember leaded Sunoco 260 (Approx 102 octane) in the 60s. I was paying 30-40 cents a gal. Those were the days....

If you do the money conversion then vs now you will see that was not as cheap as you think. It may be cheaper now. It’s all relative to our salaries.

 

[Jungle Cat]

Suncor 3rd quarter earning for 2019 $1.114 billion .

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I’m fine with that. I get a cut!

 

[Hpindy]

Big oil employs hundreds of thousands of people if not millions indirectly. They are a part of most of our 401ks and investment portfolios. They are a huge part of our lives and very culture. When I see guys like Boob head Bernie Sanders talking them down I like them even more. Destroy big oil and we go down with it. The windup cars and planes aren’t coming anytime soon so oil is here to stay.

But I see the billions on little people that are struggling to make ends meet

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[Jungle Cat]

But I see the billions on little people that are struggling to make ends meet

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Without poor people there are no rich people. If everyone gets the same that’s communism and it has never worked. A rising tide lifts all boats. Some more than others. Just the way it is. Have no guilt for your success. We drive Hellcats. No small feat.

 

[Jungle Cat]

I am on a little “road trip” again this weekend (not in a Challenger). Damn gas spread in three States seems like $0.40-$0.50 per gallon. Pays to shop around!

There is a Mobil Station right off the exit on Rt 93 North of Boston that is $3.09 right now. A mile further down the road Shell is $1.99. Absolutely outrageous. How many travelers get off the highway and get absolutely screwed?? I laugh at that Mobil every time I drive by.

 

[Hpindy]

Without poor people there are no rich people. If everyone gets the same that’s communism and it has never worked. A rising tide lifts all boats. Some more than others. Just the way it is. Have no guilt for your success. We drive Hellcats. No small feat.

I'm not talking about communism. ( not a good thing at all). And I'm not talking about poor people either . I'm small business owner that acutelly do more business when fuel is low because people have more money in their pocket at the end of the week so they go out and spend more . People travel more , small out of the way towns generate more revenue from more people visiting and spending money , people making minimum wage have a few more bucks in there pocket , people that drive for a living can actually make a few more bucks because they are not working just to put fuel in their vehicles. There are acutelly other businesses and people outside of "big oil" .

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[Hpindy]

Without poor people there are no rich people. If everyone gets the same that’s communism and it has never worked. A rising tide lifts all boats. Some more than others. Just the way it is. Have no guilt for your success. We drive Hellcats. No small feat.

For the record everyone has to make money or we wouldn't survive that's a fact. But there is a point where it turns into greed that's tha problem .

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[Stormtrooper1320]

Nice of you to keep it personal.

In any case.... A pure downstream organization is one of the most transparent businesses out there... Our primary commodity is traded on an open market (crude).... so the general public has a very good idea of the basis for our COGS...

I know this is going to be a shock for some.... But we don't set gas prices.... As a matter of fact, we only own a single gas station (one to be run as a corporate example of marketing programs).... Gas prices are set by the marketers and influenced by the local market.

^^ this is true for most refiners

Like I said before, a pure refining organization is a business of margins or spread. We don't have a single drilling rig. We buy crude on the open market. The trends of crude and local gas prices run lock and step with each other...

All so we can make our razor thin 4% margin.

Ok...all of that sounds fine....but I have a serious question that no one has ever been able to answer.

When there is an oil scare in the Middle East, and the price shoots up, we can see the price of gas go up 30 cents instantly, even though the oil at the new price hasn't hit the local station yet. So...someone is making higher profit on the gas sitting in the station tanks, and the storage facility tanks right off the bat. Yet, when there is a situation like now and the price of oil is falling through the floor, we don't see the same instantaneous level of drop. Why not?
We are told that the price can't go down that fast because the cheaper oil hasn't hit the refineries yet. There wasn't any wait on the front end to raise the price, yet it takes forever on the backend to lower it.
Someone is having their cake and eating it too.

 

[Hpindy]

Ok...all of that sounds fine....but I have a serious question that no one has ever been able to answer.

When there is an oil scare in the Middle East, and the price shoots up, we can see the price of gas go up 30 cents instantly, even though the oil at the new price hasn't hit the local station yet. So...someone is making higher profit on the gas sitting in the station tanks, and the storage facility tanks right off the bat. Yet, when there is a situation like now and the price of oil is falling through the floor, we don't see the same instantaneous level of drop. Why not?
We are told that the price can't go down that fast because the cheaper oil hasn't hit the refineries yet. There wasn't any wait on the front end to raise the price, yet it takes forever on the backend to lower it.
Someone is having their cake and eating it too.

Ahmen brother . That's one of the issues I have with "big oil".

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[oilburner]

Ok...all of that sounds fine....but I have a serious question that no one has ever been able to answer.

When there is an oil scare in the Middle East, and the price shoots up, we can see the price of gas go up 30 cents instantly, even though the oil at the new price hasn't hit the local station yet. So...someone is making higher profit on the gas sitting in the station tanks, and the storage facility tanks right off the bat. Yet, when there is a situation like now and the price of oil is falling through the floor, we don't see the same instantaneous level of drop. Why not?
We are told that the price can't go down that fast because the cheaper oil hasn't hit the refineries yet. There wasn't any wait on the front end to raise the price, yet it takes forever on the backend to lower it.
Someone is having their cake and eating it too.

one word...……...GREED

 

[Hpindy]

Price per liter ( quart )

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[Hpindy]

So I asked 3 random people what they thought of gas prices when I was fueling up just now ( yes I'm working today . I have 2 jobs . 1 to put food on the table and 1 to pay for my toys)

1st person was and older gentleman and he said he was taking his wife to a nice restaurant for a change

2nd was a middle-aged man and he said he was taking his family of 6 to the movies tonight

3rd was a young guy and he said he was getting new work boots for his new job on Monday.


This is what I'm talking about . The average person.



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