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Gas still dropping


smerchly

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Way back I asked , 'Will we see 60 cents' ?    Many are at 65 .6 today , and one is 89.9 ??   :huh:

 

Not nearly as much road traffic since this c-19 thing ......   great for guys heading out fishing in their boats or driving  more distance to fish .

 

I heard C.tire sold out of the 20 lt. gas cans ( not a good idea to keep a lot of gas at home )  the price of stabilizer isn't cheap ......

 

I have 2 cans of Sea Foam (Princess A) ....getting ready to fire up the old boat with fresh gas.   

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18 hours ago, мормышка said:

Carbon Taxes go up 1st April, 2020. No fooling!

Yep ...when we get back to "normal"  I expect to see the prices increase dramatically . Add in the carbon taxes and watch our wallets deflate .  Take advantage of the low prices and burn some petro ! 

 

....Filled up 2  Jerry cans today  (Mar.26)  at 60.9 ....added the Sea Foam ...for the boat , and all the small engines (except my  E -weed wacker)  It's been a while since gas was 60cents which includes the new carbon taxes.

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  • 3 weeks later...

So now ,some of us have a lot of gas in Jerry cans that were to be used for our boats . I don't like keeping 20 gallons of gas in my shed for long periods . All gas has Seafoam in it which can keep it good for a year or more . It looks like boating is cancelled for the summer  and maybe into the fall .....  Question is....   keep it in the cans or dump it in the car and vans tank ?? .....it may help clean the injectors .  And I suppose it's a good idea to run the outboard once a month in the driveway ....  ?

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47 minutes ago, Mbocco said:

Not sure!  My kayak doesn’t run on gas. 
😁

HA !   My canoe is a multi talented vehicle ....It has a square back that has run with a 3 H.P.gas motor , an electric motor , paddles (man power) and I can attach a sail (wind power ) .    :)

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Who would have thunk it  !   Oil sunk to a negative price per barrel on Monday for the first time in history .  I checked out the highest price and found it was over $148 per barrel  in June 2008 .  Now it's running at only $20  . We have seen $60 cents at the pumps ....now about 80cents ?? .  But most of us aren't driving much so we aren't saving much either ! 

A quote from a paper ...

 

"The cost to have a barrel of US crude delivered in May fell to minus $37.63 on Monday as demand dried up and storage tanks neared capacity, meaning traders paid to have barrels taken away."

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2 hours ago, мормышка said:

Nobody would ever get free fuel, but $0.45 would be good to see.

Just checked it out ....US crude is at minus $30  ....

We should be payed $44.50 average to fill up our tanks ......

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On 4/21/2020 at 2:30 PM, smerchly said:

Just checked it out ....US crude is at minus $30  ....

We should be payed $44.50 average to fill up our tanks ......

 

Currently in my car its around $35 for complete fill up. And its great on fuel. So not hurting for fuel costs.

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Barrel of oil now worth $0.00. Yet the prices are going up, $.80 a liter today.

Should the prices not be dropping.

Of course they should.

We live in a ~Corporatocracy~

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2 hours ago, knightfisher said:

Should the prices not be dropping.

We now have the 2nd installment of the carbon taxes added in .....for climate change you know that is caused by oil burning cars , trucks , jets,  ships etc, etc etc ..... . As the world is now shut down , we should have the cleanest  coolest planet ever !  ....come to think of it , is that why is was snowing today ?   :crazy:  

  Greta is smiling  too .......   🤑

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How ridiculous the 2nd install. Great majority of people hurting for money. It's obvious our dictators live in a different world than us tax cattle.

Regardless, if the $$ of oil drops, we should see it the pumps as well.

I was caught in a white out while grabbing a coffee 🙃

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On 4/22/2020 at 5:04 PM, knightfisher said:

How ridiculous the 2nd install. Great majority of people hurting for money. It's obvious our dictators live in a different world than us tax cattle.

Regardless, if the $$ of oil drops, we should see it the pumps as well.

I was caught in a white out while grabbing a coffee 🙃

Crude has been running at $16 -$18 a barrel lately ....gas is about 82 cents average .  I suppose there is a "fee" for storing 100 billion barrels of oil ? Are there charts the people could see explaining all the costs to get the gas to the pumps , including the "hidden taxes" ?  I have 2 vehicles , a 4 cyl & 6 cyl  , 38 years on the road between them.....  and drive about 5000 km per year between both of them , so gas prices don't matter as much as it does for the average guy who drives 20,000 k.

   With the onslaught E.V's on the roads , the price of gas may continue to stay low for many more years .....unless Trudeau taxes the crap out of it ! 

 

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18 minutes ago, smerchly said:

Crude has been running at $16 -$18 a barrel lately ....gas is about 82 cents average .  I suppose there is a "fee" for storing 100 billion barrels of oil ? Are there charts the people could see explaining all the costs to get the gas to the pumps , including the "hidden taxes" ?  I have 2 vehicles , a 4 cyl & 6 cyl  , 38 years on the road between them.....  and drive about 5000 km per year between both of them , so gas prices don't matter as much as it does for the average guy who drives 20,000 k.

   With the onslaught E.V's on the roads , the price of gas may continue to stay low for many more years .....unless Trudeau taxes the crap out of it ! 

 

We hear about the carbon tax charged on the end product bought at the pump, but don't forget the added taxes at the oil extraction stage, at the oil transportation stage, at the refinery stage, then again at the gas transportation stage getting to the pump, then some more tax is charged at the pump just for good measure. All those taxes in addition to the Royalties that the oil companies are paying the government. It wouldn't be so bad if the money was invested wisely on our behalf rather than squandered recklessly.

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1 hour ago, smerchly said:

Crude has been running at $16 -$18 a barrel lately ....gas is about 82 cents average .  I suppose there is a "fee" for storing 100 billion barrels of oil ? Are there charts the people could see explaining all the costs to get the gas to the pumps , including the "hidden taxes" ?  I have 2 vehicles , a 4 cyl & 6 cyl  , 38 years on the road between them.....  and drive about 5000 km per year between both of them , so gas prices don't matter as much as it does for the average guy who drives 20,000 k.

   With the onslaught E.V's on the roads , the price of gas may continue to stay low for many more years .....unless Trudeau taxes the crap out of it ! 

 

Or.....the price could go higher to get us gas guzzlers off the road.....

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The price at the pump is a bullsh*t made-up number that has zero reflection on the actual oil/gas industry when it comes to the price of a barrel, but they have done such a great job confusing the world, that we just get bent over.

 

For simplicity, think of one of the few unbranded independent gas stations in Niagara.  How are they able to sell gas at the same price as Esso?  Esso does volumes more in sales.  Also Esso is a part of ExxonMobil, who is involved in all stages of gas, so since there is no true middleman, Esso should be able to buy the gasoline at a much cheaper rate as well.  So the drastic reduction in the middleman should mean a much lower cost compared to the independents.

 

On the subject of branded stations, there are two kinds, there is a franchisee operated station and there is a corporate operated station.  Corporate does not care how much money their franchisees lose.  When there was the Ontario street gas wars ... the end game was to try and harm the non-branded stations in Niagara, because most of the stations involved were corporate.  The stations that did not drop their prices to take a larger loss, those were franchised operations.  They had to drop their prices and take a small loss, but they were not getting into the larger game to take a larger loss.  I am sure the losses worked out in the end for the operations, because after waiting in line for 15 to 30 minutes, why not go inside and get your lotto tickets and the other items at inflated prices such as chips, drinks, and smokes.

 

If anyone wants to argue .. well supply and demand ... sure, let's have that discussion.  Under that theory gas prices should be lower at 1 AM when there is no one on the road.  BUT THAT DOESN'T MAKE SENSE ... okay sure, it is kinda a dumb point, but they have no issue raising the price multiple times during the day, how does that make sense.  On the subject of supply and demand why does the price not drop when a gas station has been filled up where their supply is at the highest level it will be?  They have no issue raising the prices on a Friday for a weekend.

 

The only thing that makes sense with gas pricing is that the Toronto price should be higher than elsewhere in the area, based on rent costs alone.

 

Back to the barrel pricing, the prices often mentioned on the news are the "futures" which is a risky game to get involved with.  When your futures come due, you either need to sell them or you are the proud owner.  In the world of pork futures, you would have a trailer dropping you off your pigs, in the world of oil, they would be dropping it off for the owners to store, so what happened to the markets was a lack of storage space had investors panicking as they tried to sell off oil so barrels would not be getting dropped off at their address.

 

Also the price per barrel in relation to gasoline ... the price change should be days/weeks/months off.  If Russia and Saudi Arabia got into a kerfuffle and one of them was to damage the others oil wells, the impact on the market would be immediate.  We would see gas prices rise.  But the refineries already have millions of barrels on their way (ships, pipelines, trains, etc) and they probably have millions more in storage, so this price increase should not be reflective at the pump until the "new higher priced oil" has hit the refinery and then sent along.  But with how great a job they have done casting shade and confusion on the price ... we pay immediately.

 

For those who love driving around the city to fill up at the cheapest station ... something to consider.

 

How much savings are to be had on the price difference, and having a large tank of 100 litres.  So also consider your time and the KMs you drove to get there and back.

 

Dif Litres Cost
$0.001 100 $0.100
$0.005 100 $0.500
$0.010 100 $1.000
$0.015 100 $1.500
$0.030 100 $3.000
$0.050 100

$5.000

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Thanks for all that info Snags .  Maybe the bottom line is for people to patronize the smaller independent gas stations as many of us do with our small tackle shops . the free enterprise  system .....where the big fish eats the small fish to become the last one standing and then set prices as they wish doesn't  do us any favours .....we had so many more small shops  50+ years ago .  I check prices on Gas Buddy and find it interesting that a small dealer like S & W near Port Dalhousie has the lowest price many days and also serves us ....nice to be able to stay in your warm car on a rotten day .....and the Beer store is right across the road !  

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Today's prices have crept up to the 90 cents per liter......that's 30 cents more than the low mark of 60 cents. when people are back to work will gas be back to 1.30 or more as the "Trudeau Taxes" are applied ...... 🤢

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I thought the carbon taxes were effective 1st April for April Fool's Day?

 

As for recent rising pricing, I do notice a lot more cars out and about. More demand, right? Just like with 

the "projected" (orchestrated) beef shortage. I can't imagine what a good steak for the grill go for if that happens.

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1 hour ago, мормышка said:

thought the carbon taxes were effective 1st April for April Fool's Day?

yep ....and every Fools day to come ......

Oil is just over $24 a barrel today ...... Alberta needs about $100 a barrel to make any money ??

 

Never mind the steak Mops........ a  Mcburger will set you back 10 bucks !  .............. You know.....suckers aren't bad eatin !   B) 

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