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Megatron96 06-02-2022 09:23 AM
$5.60.

AdolfOliverBush 06-02-2022 09:50 AM
Quote:
Originally Posted by ArrowHeader (Post 16317711)
Refineries are already at full capacity. If Louisiana or Texas get hit with hurricanes they will have to shut some of those down. It can takes weeks to start back up and get back to full capacity, and that’s if there are relatively few damages. Then you have the reserves which will all be empty sooner than later, and that will push prices higher. Good time to go buy a nice bicycle or a Vespa.
Sincere question: If refineries are already at full capacity, when oil production is being intentionally limited by oil companies, does that mean increased oil production wouldn't help lower gas prices thanks to that bottleneck?

Imon Yourside 06-02-2022 11:23 AM
By Design

Donger 06-02-2022 11:35 AM
Quote:
Originally Posted by AdolfOliverBush (Post 16317822)
Sincere question: If refineries are already at full capacity, when oil production is being intentionally limited by oil companies, does that mean increased oil production wouldn't help lower gas prices thanks to that bottleneck?
Lower crude prices means lower prices for refined product such as gasoline. An increase in crude production anywhere in the world is a good thing since crude is a globally-traded commodity. What really freaks people out is when the spare capacity of global crude supply gets tight and moves toward not being able to satisfy global demand.

ArrowHeader 06-02-2022 12:50 PM
Quote:
Originally Posted by AdolfOliverBush (Post 16317822)
Sincere question: If refineries are already at full capacity, when oil production is being intentionally limited by oil companies, does that mean increased oil production wouldn't help lower gas prices thanks to that bottleneck?
Domestic oil production is currently at historical highs. Could be higher if we were “drill baby drill” mode. Those days are never coming back tho. Too many companies got crushed. We don’t use a lot of that domestic crude anyways. Most of our refineries are made for heavy “sour” crude (Saudi, Canada, Venezuela ect). They aren’t capable of refining light and heavy. We were at same refining rates in most recent years, but much more crude on the market.

petegz28 06-02-2022 12:55 PM
Read this morning that for the first time in history, gas is $4 a gallon or higher in every state.

petegz28 06-02-2022 12:56 PM
Quote:
Originally Posted by ArrowHeader (Post 16318114)
Domestic oil production is currently at historical highs. Could be higher if we were “drill baby drill” mode. Those days are never coming back tho. Too many companies got crushed. We don’t use a lot of that domestic crude anyways. Most of our refineries are made for heavy “sour” crude (Saudi, Canada, Venezuela ect). They aren’t capable of refining light and heavy. We were at same refining rates in most recent years, but much more crude on the market.
Last I saw oil production was still about 1m barrels below 2019 levels.

Donger 06-02-2022 01:11 PM
In case anyone was curious:

https://www.api.org/-/media/Files/Oi...C2D8B613EEC565

https://www.eia.gov/petroleum/gasdiesel/

Stewie 06-02-2022 01:27 PM
Murphy Express was 3.94 on Monday in Shawnee. Cheaper than Sam's, which they are quite often.
4.25 today. Quite a jump. Sam's is showing 4.07 on their website.

Munson 06-03-2022 11:20 AM
New record high national average gasoline $4.761

New record high national average diesel $5.581

Kansas state average $4.321

Missouri state average $4.356

Discuss Thrower 06-03-2022 11:21 AM
On pace to be $10/gal here in Missouri this time next year.

ROYC75 06-03-2022 11:45 AM
This is f****** ridiculous $4.65 a gallon for regular unleaded here in Greenville Kentucky.

Eureka 06-03-2022 01:36 PM
Quote:
Originally Posted by ROYC75 (Post 16319287)
This is f****** ridiculous $4.65 a gallon for regular unleaded here in Greenville Kentucky.
That price seems like a bargain out here in California.

Perineum Ripper 06-03-2022 01:57 PM
Quote:
Originally Posted by Perineum Ripper (Post 16314428)
May 30 in Columbia, MO

$4.22-$4.27
Well it’s June 3 in Columbia, MO

$4.39-$4.59

Munson 06-04-2022 08:09 AM
New record high national average gasoline $4.819

New record high national average diesel $5.617

Kansas state average $4.394

Missouri state average $4.421


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