At the gas station near me the price of gas is a little less than it was right before Putin invaded.

There really hasn't been much on the news as to why the price has gone down but I know a lot of you are in the O&G industry so I figured I'd see what you guys might know.

Less demand due to summer being over, cheaper winter blends and overall demand destruction.

Gas prices were already doubled before the establishment cash cow war….

You want them quadrupled ?

This is what happens when people lose their wealth because of the fed. Not really something to celebrate.

You have mutliple things happening at once.

Driving demand has plummeted and Americans were driving less, especially long distance, for vacations and other things. Additionally forecasted demand is lower and now we're starting to see significant layoffs and so forth that will continue for several months. Next you add a massive amount dumped from SPR into the market. That distortion doesn't end right when the releases do, there is lag time in that system.

The dynamics between supply and demand here are crazy but the demand, or lack thereof, is what's moving this market.

Russian are flooding the market before the European boycott/price cap.

The correct answer is 99% supply and demand. (For now anyway).

Government can and will affect both of those things, to benefit chosen entities.

Diesel still 4.50-5.00 where i'm at

aezmvp said:

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You have mutliple things happening at once.

Driving demand has plummeted and Americans were driving less, especially long distance, for vacations and other things. Additionally forecasted demand is lower and now we're starting to see significant layoffs and so forth that will continue for several months. Next you add a massive amount dumped from SPR into the market. That distortion doesn't end right when the releases do, there is lag time in that system.

The dynamics between supply and demand here are crazy but the demand, or lack thereof, is what's moving this market.

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What people forget is the cost of staying somewhere has gone up so much. So while the gas cost is still something you just "eat" to get to a vacation spot --- it is the stay there that has forced many vacations or tours to be called off for many.

Citizens traveling over Thanksgiving weekend are in for more pain at the pump in President Joe Biden's (D) America.


In a report on Tuesday, GasBuddy said the "Projected average price of $3.68 on Thanksgiving Day will break the record set 10 years ago."

Citizens getting ready to travel for the holiday will reportedly experience gasoline prices at their "highest seasonal level ever for the weekend," according to the fuel savings platform.

"The national average is projected to stand at $3.68 on Thanksgiving Day nearly 30 higher than last year, and over 20 higher than the previous record of $3.44 set in 2012. But that won't slow many down, with 20% more Americans planning to hit the road this year," the report said, adding the number of people traveling over the weekend rose from 32 percent in 2021 to 38 percent.

During a recent economic speech in New York, the president claimed, "Today, the most common price of gas in America is $3.39 down from over $5 when I took office."

$2.75 for premium at an HEB in Houston. Filled up for something like $50 today.

Prices usually go down after summer driving season is over, the refineries start producing more heating oil for winter. I think many believed the EU would buy up all the heating oil but it hasn't hit real hard here yet, it still could happen if the US and EU have cold winters, the jury is still out. Natty is spiking back up with the cold spell. I still see crude hitting $90 -$95 in January due to EU, the EU is full now but it's fixing to start needing product as the winter sets in and supplies go down

WaltonAg18 said:

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$2.75 for premium at an HEB in Houston. Filled up for something like $50 today.

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Planet raper.

WaltonAg18 said:

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$2.75 for premium at an HEB in Houston. Filled up for something like $50 today.

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Which location? I need to fill up before I get out of town.

Quote:

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Next you add a massive amount dumped from SPR into the market

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Massive?

Equivalent of 9 days of US use, spread over about 6 months.

The equivalent of about 1 hour per day of US use, over 6 months

khkman22 said:

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WaltonAg18 said:

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$2.75 for premium at an HEB in Houston. Filled up for something like $50 today.

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Which location? I need to fill up before I get out of town.

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https://www.gasbuddy.com/home

Quote:

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Prices usually go down after summer driving season is over

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Been a real drop in our area the last few days.

I realize the summer season is over, but I'm surprised, given that Thanksgiving travel is coming soon.

WaltonAg18 said:

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$2.75 for premium at an HEB in Houston. Filled up for something like $50 today.

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****ing liar.

The democrats fixed it and all other issues with the Green New Deal. Can't you tell?

WaltonAg18 said:

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$2.75 for premium at an HEB in Houston. Filled up for something like $50 today.

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Doesn't premium contain less ethanol? Are you trying to kill my family?

It's down around $2.80 around us. Better than the $3.30 when Putin invaded, but still higher than $1.95 when Biden took office, and $1.55 from election day 2020

Funky Winkerbean said:

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Doesn't premium contain less ethanol? Are you trying to kill my family?

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No

CanyonAg77 said:

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Quote:

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Prices usually go down after summer driving season is over

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Been a real drop in our area the last few days.

I realize the summer season is over, but I'm surprised, given that Thanksgiving travel is coming soon.

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Ive been in the fuel business for over 24 years now, we try to get everything out before Nov 1st, fuel takes dive between Nov 1 and about Jan 15th... after Jan 15th it will start going back up. Except for years like this year where the EU is the wild card.. anything could happen.. Im beginning to think the EU may actually have there supplies in order.. but either way we will see real soon, thats a big country to not be getting their normal supply of Natty from the Rooskies... waiting game

CanyonAg77 said:

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khkman22 said:

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WaltonAg18 said:

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$2.75 for premium at an HEB in Houston. Filled up for something like $50 today.

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Which location? I need to fill up before I get out of town.

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https://www.gasbuddy.com/home

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I find it's better to ask for specifics when somebody is lying. Usually, they dodge the question.

Diesel price still sucks.

Never knew releasing oil from the SOR to prevent inflation and recession narratives was allowed...

Democrats use it is as the Political Petroleum Reserve.

#texas pic.twitter.com/cbdAd4K1Ai

— Corey Thompson (@Roughneck2real) November 30, 2022

Butane blending season is upon us (so cheaper fuel than summer) but as been noted, demand is down due to summer being over and recession/inflation.

Joe has solved gas prices!!!! (By pushing the US into a recession).