Gas Prices Probably Going Up

[byron]

Not sure where you live but gas prices in my area have been steadily going down in the last week and a half. As of today the cost is .35 cents cheaper than it was two weeks ago.

same here

 

[Bigfoot]

Not sure where you live but gas prices in my area have been steadily going down in the last week and a half. As of today the cost is .35 cents cheaper than it was two weeks ago.

Same here too.

 

[Grimscale]

Gas out here finally dropped a penny. $3.189/gal.

$2.799 in Rochester.

 

[Old Jalopy]

Anywhere from $3.05-$3.89 around the capital district area. I don't think it's been under $3.00 for longer than maybe a week at one point in 5 years. Watched three shops on the same intersection change prices three times in the same day back in 2022 in a south Albany town. Base of the ADK's in the year up here it hasn't been below $3.05 anywhere.

 

[spat]

So did much of Europe, although the Russian oil still manages to get there through a round about route, usually at higher prices.

Don't know if any Russian oil is reaching the fUSA...I wouldn't be surprised.

Definitely should be drilling, pumping and refining US sourced oil right now at the maximum level.

Both Regular Crude Oil and Brent Crude have been bouncing around the same levels for quite a while. If the oil market is going to buy into the tariffs, should they occur, the results should already be seen in the oil markets, as it was when people were freaking about tariffs effecting gold and silver. Yes, gold and silver are up, but it has little to do with tariffs.

Here are 5-year charts of Regular Crude and Brent as they stood within the last 10 minutes...crude hasn't been this low, ignoring minor froth, since 2021-22.

View attachment 262060


View attachment 262061

Doesn't matter where the actual oil goes.

As many have pointed out, it's a fungible resource.

Even if Russia can only sell oil to China, that's less oil China will buy from someone else, so it *still* affects the global price.


That's why Trump is proposing to tariff anyone who even buys Russia oil.

 

[dsdmmat]

Gas was 2.44 in my area yesterday.
45 ACP is .40 cents a round.
9mm is 25 cents a round for 124 grFMJ.

 

[spat]

This is why prices are complicated.

The recession fears are fueling a drop in oil prices.

Cheaper oil will lower the price of nearly everything.