$2.11 here in Texas today.

Don't try to figure it out.

$2.89 here still.

Why the **** Donger?

Pump it up, until you can feel it
Pump it up, when you don't really need it

Prices drop much more slowly than they increase.

Why are these people in the Midwest getting much cheaper gas than us in AZ? Are them Republicans trying to **** me here?!?!?!?!?

Probably a combination of being closer to the refineries and taxation.

Welp...

https://www.cnn.com/2018/11/12/busin...pec/index.html

"The consensus among all members is that we need to do whatever it takes to balance the market," Al Falih said. "If that means trimming supply by a million [barrels per day], we will do it."

Eh. Let em cut production. The US isn't going to join them, thus reducing the effects of their cuts.

The Motley Fool

A Texas-Sized Surge in Oil Production Will Hold Prices Down
New pipeline capacity, a massive backlog of uncompleted wells, and increased drilling activity together set the stage for the next leg of growth in U.S. oil production.
Adam Levine-Weinberg (TMFGemHunter) Nov 11, 2018 at 7:25AM
In the span of five weeks, a roaring bull market for oil has given way to a sharp downturn. Fears that U.S. sanctions on Iran would cause a global oil shortage have been replaced with worries that the market is oversupplied. Prices for both WTI and Brent crude -- the U.S. and international benchmarks, respectively -- have plunged about 20% since early October.

Rising U.S. output played a big role in popping the recent oil price bubble. Some oil-producing countries are now considering production cuts to reverse the recent drop in oil prices.

In the short term, production cuts by OPEC and its allies could drive up prices. But in the long run, any such moves would be self-defeating. U.S. oil production is primed to keep skyrocketing -- and the higher oil prices go in the short term, the bigger the jump in U.S. output will be.

No, we won't. But we can't ramp up another million bpd of production, at least not quickly. And this move WILL raise the price of crude, which will make our boys less willing to increase domestic production.

Unless something has changed, that's the opposite of what will happen. Our production costs far exceed the Saudis.

On a cost per well basis, yes. But the Saudis need to finance their welfare state model. While they're moving away from that model to a more entrepreneurial style system, they're not remotely close. Some have argued the Saudis need upwards of $90/barrel to fund their programs. I don't fall into that category, I think that's woefully high and doesn't account for Saudi cash reserves or the possibility the crown would be willing to take on debt to finance their government enterprises. But I think it's reasonable to look at a price of $60-$70/barrel as a reasonable price point. However, US producers following the 2015 price shock, trimmed the fat, deployed new technologies, improved production rates, increased the length of laterals and number of frac stages to bring production costs down considerably and putting us in a spot where we're more than competitive with the price the Saudis need.

It also assumes their OPEC partners would hold to those production cuts as well. While compliance has been fairly good, I believe, in recent years. The price drop of 2015 hurt all those nations as well. It is reasonable to wonder if the OPEC nations would continue those compliance rates if the Saudis cut production and drove up prices. It would be very tempting for those nations to produce more black market crude to take advantage of that price environment.

Crude approaching $51.