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Respected Contributor
Posts: 4,754
Registered: ‎07-03-2012

Re: Gas Prices Are Low & We Can't Go.................

[ Edited ]

@CrazyKittyLvr2 wrote:

anywhere.  Well, grocery stores and pharmacies.  Isn't that a kick in the pants.

 

Hopefully,  when we can move around more prices will still be down.  At least for a little while.

 

We leased a Honda HRV in Nov. of 2019.  At least this stay at home order is helping to keep the milage down.


What are your gas prices?  Our gas prices in S. WI are $1.29 a gallon.  I would love to go somewhere.

Respected Contributor
Posts: 3,591
Registered: ‎05-11-2013

Re: Gas Prices Are Low & We Can't Go.................

@BeautyLvr  I assume you were addressing me.  I wasn't complaining, but making an observation.  My kick in the pants comment was meant to be lighhearted. I just find the situation ironic.  Geez.

Valued Contributor
Posts: 537
Registered: ‎06-11-2010

Re: Gas Prices Are Low & We Can't Go.................

It helps us healthcare workers... 

Regular Contributor
Posts: 245
Registered: ‎03-10-2010

Re: Gas Prices Are Low & We Can't Go.................

Costco in Monmouth County NJ   $1.55 gal

Frequent Contributor
Posts: 125
Registered: ‎07-22-2012

Re: Gas Prices Are Low & We Can't Go.................

. My granddaughter got hired by a major airline right before the pandemic hit. What’s one of the biggest perks? Being able to fly anywhere for free! Except there’s a travel ban and she can’t go anywhere! Kinda like winning free pizza for life right after having weight loss surgery! Gotta love life!!!

Respected Contributor
Posts: 3,197
Registered: ‎09-15-2016

Re: Gas Prices Are Low & We Can't Go.................

Everyone who's working is grateful for the lower prices & volunteers are too...nobody is paying for our gas & the supplies we need everyday, we are. Yesterday I paid the lowest price so far, $1.00/gal for regular.

Respected Contributor
Posts: 2,163
Registered: ‎07-18-2010

Re: Gas Prices Are Low & We Can't Go.................

[ Edited ]

@SPURT wrote:

@Bhvbum wrote:

Supply is high because demand is now lower.  When more businesses and people start using more, the prices will go back up.


@Bhvbum 

 

The pandemic is only part of what's going on with the oil industry between the U.S./Russia/OPEC...and things are starting to change as of early April----

 

On 8 March 2020 Saudi Arabia initiated a price war with Russia, facilitating a 65% quarterly fall in the price of oil.[1] Over a few weeks, US oil prices] fell by 34%, crude oil fell by 26%, and Brent oil fell by 24%.[2] The price war was triggered by a breakup in dialogue between the Organization of the Petroleum Exporting Countries (OPEC) and Russia over proposed oil-production cuts in the midst of the 2019–20 coronavirus pandemic.[1] Russia walked out of the agreement, leading to the fall of the OPEC+ alliance. Oil prices had already fallen 30% since the start of the year due to a drop in demand.[3] The price war is one of the major causes and effects of the currently ongoing global stock-market crash.[4]

 

 

On 8 March 2020, Saudi Arabia announced unexpected price discounts of $6 to $8 per barrel to customers in Europe, Asia, and the United States. The announcement triggered a free fall in oil prices and other consequences that day, with brent crude falling by 30%, the largest drop since the Gulf War.[17][18] The West Texas Intermediate, a grade of crude oil used as a benchmark in oil pricing fell 20%. On 9 March 2020, stock markets worldwide reported major losses thanks in part to a combination of price war and fears over the coronavirus pandemic.

 

As demand continued to fall dramatically, oil prices went down further, reaching a 17-year low on 18 March where Brent was priced at $24.72 a barrel and WTI at $20.48 a barrel.[25]

 

On 2 April, US claimed that a reduction of 10-15 million barrels in production would be possible, citing negotiations between Russia and Saudi Arabia brokered behind the scenes. The following day, Russia stated that global production could be cut by 10 million barrels. In response to that statement, oil prices jumped.[26] Even with a 10 million bpd cut, the International Energy Agency estimated that global oil stockpiles will still increase by 15 million bpd. IEA's director, Fatih Birol, stated that 50 million jobs related to oil refining and retail was at risk globally.[27] US oil prices increased by 25% on 2 April, the biggest one-day increase in history. Brent oil increased to $32 on 3 April.[28]

 


I actually know all that and Trump's efforts to jump in and get Russia and the Saudi's out of their corners.  The good news, the U.S. has  a wealth of natural gas, the bad news we have agreed to curb production to boost prices.  So It still all comes down to supply and demand.  

Respected Contributor
Posts: 3,591
Registered: ‎05-11-2013

Re: Gas Prices Are Low & We Can't Go.................

Spoiler
 

@twinny70  Wow, you have us beat. The last I saw is was like $1.64.  

Super Contributor
Posts: 407
Registered: ‎09-09-2018

Re: Gas Prices Are Low & We Can't Go.................

[ Edited ]

@pugvette74 wrote:

It helps us healthcare workers... 


Absolutely!!  A family member who came out of retirement to work the front lines in her health field...is beyond thrilled.  As she has quite a commute.  There are so many at this time...a little added perk with lower gas prices helps a lot.

Please stay safe🙏🙏

Esteemed Contributor
Posts: 5,520
Registered: ‎03-30-2014

Re: Gas Prices Are Low & We Can't Go.................

Ha!  Had to drive my neighbor over to a hospital on the coast yesterday and they didn't get the memo as usual.  What is it about coastal towns?