diesel price WOW

Here in South Jersey the price of gasoline has droped about 60 cents in the past month or two,but,the price of diesel has not droped a single cent. They must refine diesel out of something other then crude.
 
3.19... dang! Diesel price has been crazy here. Couple of weeks ago it went from 3.55 to 3.90 in a couple of days. Yesterday it was 3.79. Filled up today for 3.69.
 
When I was in town the other night gas was $2.86 and diesel was $3.88. I had 1000 gallons of off road delivered the other day,it was $3.45 with discounts.
 
Diesel at the pump was 3.99 here in MN this afternoon, gas was 2.64. Was glad to have a gas engine today.
 

4.10 last week in Livingston county. We call it the Livingston difference, as we usually have some of the highest fuel prices in the state.

I think the price of diesel being higher than gas is a real negative for diesel cars and light trucks.
 
I just filled with gas at Sams Club in Lynchburg for $2.51, diesel was the same there as you paid. Looked on gas buddy and saw diesel for $2.97 in the Chesapeake area . Gas on the west end of Richmond low as $2.35- $2.40 range. Still dropping every week. Little town of Brookneal has gas for $2.49 in several places.
 
Tennessee e 85 regular running around $ 2.46 to $2.59 depending on where you shop/ Taxed road diesel $2.39 to $2.70 depending on location. Farm fuel right around $2.10
 
Nancy is stopping in Sulphur Springs, TX to fill her truck with diesel at $3.09 per gallon.

Just came from town after filling the car with gas at $2.49 per gallon.

Best prices we've seen in a long time.
 
Woo Hoo
Oil prices are down causing gasoline and diesel prices to drop to prices we have not seen in a while.

But have any of you sat down and thought about...
Why oil prices have dropped from over $100 to $75 a barrel in three months.
What these low oil prices will do to our economy.

Domestic production has pi$$ed off OPEC. So now OPEC is flooding the market with oil; driving prices below the break even price for domestic oil.

This will do two things.
Bankrupt some small oil producers weeding out competition.
Cause layoffs at the bigger oil producers.

So go ahead and jump for joy over low gasoline prices. Me I would rather have oil in the $90 range and just live with the higher gasoline prices.
 
Gas yesterday at South Coffeyville,OK was $2.29...Diesel $3.48 today in southwest MO and gas $2.50..
 
Local store chain (Family Fare and D&W Stores) have gas stations. Buy $100.00 worth of groceries this week through Sunday and you can buy gas at their station for $1.99 per gallon. Good way to get you to buy the turkey fixings there.
 
Last weekend kerosene by me in northern Indiana was $5.45 per gallon. Diesel was about $3.20, so that's what I bought for the barn heaters since is the same thing except green.

Mark
 
(quoted from post at 18:49:44 11/21/14) Woo Hoo
Oil prices are down causing gasoline and diesel prices to drop to prices we have not seen in a while.

But have any of you sat down and thought about...
Why oil prices have dropped from over $100 to $75 a barrel in three months.
What these low oil prices will do to our economy.

Domestic production has pi$$ed off OPEC. So now OPEC is flooding the market with oil; driving prices below the break even price for domestic oil.

This will do two things.
Bankrupt some small oil producers weeding out competition.
Cause layoffs at the bigger oil producers.

So go ahead and jump for joy over low gasoline prices. Me I would rather have oil in the $90 range and just live with the higher gasoline prices.

If you don't live in a area with a lot of petro jobs, sympathy is probably hard to find. Same when we were lost over a million jobs in Michigan, over 10 years. Folks in places that never had much manufacturing employment just didn't care. In this case even less, since this puts money in folks pocket. I agree, a national energy policy would be a good idea, but some folks really don't like that....
 
United States oil production has increased 60% from 2008 to 2014, much of it coming from shale & gas areas of Dakota's and other places in the States. That is a huge reason for 75 dollar oil. We almost doubled the oil we produced & dumped on the market in 7 years. I remember when oil was 130 dollars a barrel and gas was 4 bucks a gallon. This will propel the US economy upward and already is. We are not at the mercy of opec so much in this environment and this substantially weakens the stranglehold the Mideast has had on US for many years. I know of no one who would wish to go back to those higher gas and diesel prices. This is particularly true for those in ag who have to have petroleum for their livelihood.
 
Wadda yer guys crying about?
I am sitting smack dab on the tar sands,..dieseI here in Northern AIberta is $4.94 cnd a US gaIIon,...wouId be $5.58 US.
:shock:
 
Gas and diesel prices in the potato farming area of Posen, Northern Michigan - yesterday. Diesel -$4.39. Gas -$2.97 Farm off/road diesel - $3.69
 
I needed some heating oil a few weeks ago for a house I have near Rogers City, northern MI. Price was $3.69 from the heating oil guy. At the same time -off-road fuel at the pump in Alpena (50 miles away) was $3.49. I wound up filling a bunch of 5 gallon jugs and buying at the pump.
 
Don't forget about the cars and trucks with higher fuel milage. My wife had a ford escape. Never got over 23 mpg. Got a new honda fit and driven proper there's no problem to get 40 mpg. That's happened all over the country. So usage is down also.
 
You got some of it right but you still missed the big picture. Wish I had time to explain it to you in detail.

A few points for you to think about.

This is much bigger than a few mid-western states losing production jobs or some farmer buying his 10,000 gallons of diesel.

Shale may have started it but is not the reason for low prices.

The price of oil can be used in the political shell game between countries.

OPEC that runs it countries strictly on selling oil are losing market share.

Saudi Arabia is in a price war with the U.S. and Iran to keep that market share or they are in some hush hush deal to win political favors.

With $75 oil whole countries will suffer causing a WORLD economy crises.

nnalert State in Iraq and Syria (ISIS) plays into it because they need high oil prices.

It is very narrow minded to think the U.S. can produce oil from shale creating jobs in N America; enjoy low gas/diesel prices from this shale oil; and not upset the world market.

So enjoy the low oil prices while they last cause the same people that are involved in this oil price war are the same people we export your corn and wheat to.
 
(quoted from post at 07:03:59 11/22/14) You got some of it right but you still missed the big picture. Wish I had time to explain it to you in detail.

A few points for you to think about.

This is much bigger than a few mid-western states losing production jobs or some farmer buying his 10,000 gallons of diesel.

Shale may have started it but is not the reason for low prices.

The price of oil can be used in the political shell game between countries.

OPEC that runs it countries strictly on selling oil are losing market share.

Saudi Arabia is in a price war with the U.S. and Iran to keep that market share or they are in some hush hush deal to win political favors.

With $75 oil whole countries will suffer causing a WORLD economy crises.

nnalert State in Iraq and Syria (ISIS) plays into it because they need high oil prices.

It is very narrow minded to think the U.S. can produce oil from shale creating jobs in N America; enjoy low gas/diesel prices from this shale oil; and not upset the world market.

So enjoy the low oil prices while they last cause the same people that are involved in this oil price war are the same people we export your corn and wheat to.

Don't forget Russia in your political calculus. They get 80% of their revenue from oil and gas. And they are big backers of the Syrian president Assad. Iran is a wild card, because it is against ISIS, but for Assad. Picking a side over there is like choosing which skunk you want to sleep with.
 
I guess the way things are remembered depends on a persons point of view. When oil prices collasped in the early 80's hundreds of thousands of jobs were lost in the oil producing states, these were non union jobs that dissapeared due to over supply of product, no fault of the people working those jobs. During that same time period unions were busy bankrupting steel mills, auto plants and construction companies all over the country, union members were striking and throwing away their own jobs and futures in stark contrast to the oilfiled hands who wanted to work but had no work. To top it all off, the federal government stepped in and provided billions of dollars worth of extended unemployment benefits, re-training, education vouchers, tax credits for relocation and many other benefits to the union workers who had squandered their own jobs, the oilfield hands got nothing, of course the vast majority of oilfield hands had long since found other work or got back on a rig at reduced pay or moved to where they could find a job because that is what people do who genuinely want to work.
 
Saudi Arabia's strategy is much different that the US strategy concerning production, in the US the recoverable oil is much more expensive to get than in Saudi. US oil companies produce oil and gas to make a profit and drill exploration wells to maintain and increase proven reserves, Saudi Arabia is more geared toward maintaining market share of approximately 10 million barrels per day, when supplies of oil are plentiful it will initially appear as if Saudi Arabia is dumping oil on the market when in reality they just have not cut back yet, this may not be the case for too many more years as the easy oil is about finished in Saudi as it is in many other parts of the world. The only stranglehold any nation has on the US concerning oil production and supply is the US itself, in the form of the federal and several state governments. The US has more currently recoverable oil and condensate than anywhere else on earth, period, this has been documented for well over 100 years and the proven reserves have grown both offshore and on land for every single year since records have been kept.
 
(quoted from post at 16:01:08 11/21/14) Just filled the Dodge for $3.19 a gal! Locally it's dropped 60 cents in 60 days. Extrapolating we should hit 0$ by September {or not}. Even if not, its nice now.

It is STILL about $2 per gallon TOO high.
 
Explain this to me. I remember in the 60's and early 70's diesel was cheaper than gasoline. Why is it not now cheaper?
 
(quoted from post at 09:10:28 11/22/14) Explain this to me. I remember in the 60's and early 70's diesel was cheaper than gasoline. Why is it not now cheaper?

The lower cost of diesel fuel is what got the diesel powered industry off the ground. If diesel had always been higher priced, our trucks and tractors would still be running on gasoline.
 
(quoted from post at 07:47:50 11/22/14) I guess the way things are remembered depends on a persons point of view. When oil prices collasped in the early 80's hundreds of thousands of jobs were lost in the oil producing states, these were non union jobs that dissapeared due to over supply of product, no fault of the people working those jobs. During that same time period unions were busy bankrupting steel mills, auto plants and construction companies all over the country, union members were striking and throwing away their own jobs and futures in stark contrast to the oilfiled hands who wanted to work but had no work. To top it all off, the federal government stepped in and provided billions of dollars worth of extended unemployment benefits, re-training, education vouchers, tax credits for relocation and many other benefits to the union workers who had squandered their own jobs, the oilfield hands got nothing, of course the vast majority of oilfield hands had long since found other work or got back on a rig at reduced pay or moved to where they could find a job because that is what people do who genuinely want to work.

Steel mills went bankrupt because foreign competition, auto plants closed mostly because of the same problems. When the big companies could source labor overseas for pennies on a dollar, nobody could compete. A plant manager I worked for remarked that everybody in building could work for free, and we still couldn't compete on cost. Michigan has had waves of layoffs, dating back to the 70's, and each time a lot of folks left the state. I've got relatives on the west coast, in the oil patch in ND, and in Texas. All left home to find work. Only one was in a union, he is in the operating engineer's union, running a big crane or something. A lot of supplier plants moved to Mexico or asia, and they were almost all non union, always had been. I moved from Chrysler to GM, after the Chrysler plant I worked in closed down. I didn't have 5 years in, so my pension is only from GM. Once in GM, I had 3 plants close around me, and retired when the last one closed, as there really was no place to go to.

As far as layoff bennies, the government provided TRA money, which had to be repaid when you went back to work. Not many qualified for that, as you had to be able to prove that your job was directly lost to foreign competition. Most guys I know that got that went to truck driving school.

Remember, most folks are non union, and for every union job lost to foreign labor, maybe 10 non union folks lose theirs. You only hear about the union guys because they fight back. Usually losing....

I never had a choice in a layoff or plant closing, or a trade treaty that traded my job for some Wall Street gain. We got sold out by our own management. I spent 5 years as a engineer and supervisor on salary, non union. So I saw a little of each side.

Have a good day, and good luck, I hope you and yours weather the storms to come successfully.
 
Eh, somehow I think they can still bring that oil out of the ground at a profit for 50, maybe 60 bucks.

And something you've not considered in your equation - the rise in jobs because of low fuel prices. That, you cannot dispute. I shuttered my business in 2007. Everything we purchase costs more because of high fuel prices. People buy less because of it. That directly affects GDP.

I think the pros greatly outweigh they cons in this particular scenario.
 
(quoted from post at 12:31:10 11/22/14) Eh, somehow I think they can still bring that oil out of the ground at a profit for 50, maybe 60 bucks.

And something you've not considered in your equation - the rise in jobs because of low fuel prices. That, you cannot dispute. I shuttered my business in 2007. Everything we purchase costs more because of high fuel prices. People buy less because of it. That directly affects GDP.

I think the pros greatly outweigh they cons in this particular scenario.

I think this is already a positive for the economy. People have more money to spend.
 

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