Fuel Prices
Thread Starter
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Posting Guru
Joined: Nov 2010
Posts: 1,430
Likes: 6
From: Alabama
Fuel Prices
Recently fuel has come down - significantly.
Lower Alabama fuel prices:
diesel is at $2.05/gal.
while gasoline is at $1.51 gal.
Do we thank the Saudis - or corona virus?
Lower Alabama fuel prices:
diesel is at $2.05/gal.
while gasoline is at $1.51 gal.
Do we thank the Saudis - or corona virus?
FTE Legend
Joined: Mar 2017
Posts: 31,792
Likes: 9,121
From: Western NY
Demand is way down from the virus but the Saudis and Russia having a price war is also driving the prices down as well. They will run out of storage options very soon if they don't halt or at least slow production.
EDIT:
https://www.gasbuddy.com/go/gas-price-drops-march-2020/
EDIT:
https://www.gasbuddy.com/go/gas-price-drops-march-2020/
Last edited by Overkill2; Apr 2, 2020 at 08:34 AM. Reason: Add to post
Hotshot
Joined: Oct 2006
Posts: 10,137
Likes: 7,948
From: Texas
Demand is way down from the virus but the Saudis and Russia having a price war is also driving the prices down as well. They will run out of storage options very soon if they don't halt or at least slow production.
EDIT:
https://www.gasbuddy.com/go/gas-price-drops-march-2020/
EDIT:
https://www.gasbuddy.com/go/gas-price-drops-march-2020/
Lead Driver
Joined: Nov 2005
Posts: 5,217
Likes: 4,223
From: Kaysville Utah
Here by my house diesel is still $2.59, Hence I buy most of my mine in Bountiful 20 minutes away for $2.29. but last Saturday in Salina Utah I filled up for $2.05
Thats a small farm town on I-70 and prices are rarely cheap there. So I was very surprised, But I took it/
Thats a small farm town on I-70 and prices are rarely cheap there. So I was very surprised, But I took it/
Thread Starter
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Posting Guru
Joined: Nov 2010
Posts: 1,430
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From: Alabama
While it may not be good for USA oil workers I believe it may be in OUR collective interests to suck up all this cheap foreign oil / even restocking our national reserves.
When they run dry (or attempt another significant price increase) then we go back to frackin, drilling, etc.
A buddy emailed me earlier today, he had just refueled his Tahoe - $1.49 /gal.
When they run dry (or attempt another significant price increase) then we go back to frackin, drilling, etc.
A buddy emailed me earlier today, he had just refueled his Tahoe - $1.49 /gal.
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FTE Legend
Joined: Mar 2017
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From: Western NY
https://mobile-reuters-com.cdn.amppr...-idUSKBN21K35F
Diesel is dropping here but it's in all the higher end of $2.88 or so. I heard gasoline at the Indian Reservation is $0.99 and diesel is a dollar something. I haven't taken a ride down there yet.
Diesel is dropping here but it's in all the higher end of $2.88 or so. I heard gasoline at the Indian Reservation is $0.99 and diesel is a dollar something. I haven't taken a ride down there yet.
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Posting Guru
Joined: Aug 2007
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From: BA, OK
I'm enjoying the cheaper fuel prices for sure, fuel is a major expense for my business so this equals more profit in my pocket at the end of the day. What I don't understand is why doesn't diesel fuel drop as fast as gasoline. When the prices are higher the price between diesel and regular unleaded is around $.50 a gallon difference in my area. Now that prices are lower, diesel is $.75 more per gallon. 
FTE Legend
Joined: Mar 2017
Posts: 31,792
Likes: 9,121
From: Western NY
I'm enjoying the cheaper fuel prices for sure, fuel is a major expense for my business so this equals more profit in my pocket at the end of the day. What I don't understand is why doesn't diesel fuel drop as fast as gasoline. When the prices are higher the price between diesel and regular unleaded is around $.50 a gallon difference in my area. Now that prices are lower, diesel is $.75 more per gallon.
It's about the same here.
Mountain Pass
Joined: Dec 2015
Posts: 128
Likes: 17
From: N. IL
I think that a couple of reasons that diesel hasn't dropped as fast as gas. 1) Still a lot of demand for it out there with the truckers and those that use it for work, ie farmers, etc. 2) They don't get as many gallons of diesel out of a barrel of oil compared with gas so costs there are higher as well even though the cost of the crude has come down significantly. I think number 1 is the largest impact on the prices though.
FTE Legend
Joined: Mar 2017
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From: Western NY
First domino to fall..........Whiting Petroleum.. Filed Chapter 11, 04-01-2020.