Gas prices dropping under $3…Thanks Joe!

From what I understand of the process is that there’s the same refining capacity of petroleum but each 42 gallon barrel of petroleum generates approximately 20 gallons of gasoline and 12 gallons of diesel.

There will obviously be different demand for each and I think with the current state of trucking, etc. being maxed out is providing more price pressure on diesel. There was a time up until about 20 years ago diesel was cheaper than gasoline.

 

Some years ago, probably a decade or more, (2006) diesel regulation standards changed to clean/ ultra low sulfur diesel which raised the price by itself.

 

Oil prices slump as receding price-cap threat unmasks worsening demand: Kemp By Reuters

 

$2.59 at Sam's Club in town

 

Oil pricing in the coming recession. That is one good thing that comes from a recession. Lower fuel costs.

 

A few places here are finally under $3 and almost all are with Upside app.

Things are definately much better than they were.

 

Diesel cam down about 40 cents this week. Love to see that.

 

Diesel I suspect will be under $4 a gallon soon.

 

Quick math that'll save me about $3500 a month in fuel costs. I'm here for it!

 

Just looked at flyingJ diesel prices in Florida. They range from 4.34 a gallon to over 5 dollars a gallon.

cheapest was south of Miami and near I ten and I 75. Why the prices were so spread out with no regional pattern made no sense to me.

 

Prices literally dropped about 30-40 cents over the last two days at the pump. So any station with a $5 price is sitting on older fuel. I saw $5.15 today and $4.69

 

I have seen that. One thing that frustrates me is they price fuel at what they have to pay to refill if prices are up and when prices go down they charge what they paid for it. I say that is good business if you can get away for it.

 

It is utterly ridiculous. Just like how gas prices will magically rise 30-40 cents overnight but when it goes down it's pennies at a time. Like you said when the gas stations know the next shipment will be 30-40 cents higher they instantly raise the price of the existing gas before the next shipment goes into their system. But when the next shipment goes down they will make sure not to lower the price until that gas goes into their system. Should be illegal IMO to raise the gas until the next shipment comes in.

With that said, sc*ew giving Biden any credit. Even with gas around $3.10-$3.20 here in Central Florida now it's still a solid 60 cents higher than when Biden came into office. Under Trump gas around me was hardly ever above $2.75 and that was even before the pandemic when the economy was in great shape (thanks to Trump which you all will never admit). You all can't have it both ways. For months when gas prices were skyrocketing you said Biden couldn't be blamed (though if Trump was in office you all would've absolutely blamed him). So if Biden can't be blamed for gas prices going up then he gets no credit for gas prices going down.

 

I have always said presidents get the blame when prices rise so they might as well take credit when they fall. Government has little to do with gas prices.

 

Except Biden never took the blame for when gas prices went up to all time highs this summer. He blamed everyone but himself (when he has more power than any other individual in the world). And Liberals and the Media alike absolutely did everything they could NOT to blame Biden and because of that Biden never really took the heat. So since Biden never really took the blame for high gas prices he doesn't get to take credit when they start to go down.

 

I’m suing. I paid $2.79 at Sam’s Club today.

 

Glad to see gas is trending down from a few months ago.