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How are gas prices doing where you live ?


milehiiu
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I was waiting to fill up knowing they were headed lower. Lower gas prices will help the consumer but are going to hurt a lot of energy companies. From high yield bonds  to upstream companies, shale producers, and even biggies like Occidental and Exxon. Heard yesterday Exxon not able to cover their dividend from cash flow. Hopefully you save enough buying gas to offset your energy related market losses!

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6 minutes ago, mrflynn03 said:

$2.00 this morning when I filled up in Bedford.  

Really dont see how it would be a bad thing. I like having the extra money in the bank. 

It seems that the gas war between Russia and Saudia Arabia is what set this off.  The concern for the USA, is that American gas companies have a margin they need to meet, in order to continue to be profitable, and not have to cut employees to continue to be profitable.

Russia seems to be the bad player here.  Cutting prices in order to hurt the USA.

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4 minutes ago, Reacher said:

I was waiting to fill up knowing they were headed lower. Lower gas prices will help the consumer but are going to hurt a lot of energy companies. From high yield bonds  to upstream companies, shale producers, and even biggies like Occidental and Exxon. Heard yesterday Exxon not able to cover their dividend from cash flow. Hopefully you save enough buying gas to offset your energy related market losses!

YOU get it !

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2 minutes ago, milehiiu said:

It seems that the gas war between Russia and Saudia Arabia is what set this off.  The concern for the USA, is that American gas companies have a margin they need to meet, in order to continue to be profitable, and not have to cut employees to continue to be profitable.

Russia seems to be the bad player here.  Cutting prices in order to hurt the USA.

Agree with your first paragraph. Russia didn't cut their prices. They refused to lower their output. The Saudis then lowered prices. Country probably getting hurt the most is Iran. They are dealing with the Coronavirus and now, lower oil prices.  

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5 minutes ago, milehiiu said:

It seems that the gas war between Russia and Saudia Arabia is what set this off.  The concern for the USA, is that American gas companies have a margin they need to meet, in order to continue to be profitable, and not have to cut employees to continue to be profitable.

Russia seems to be the bad player here.  Cutting prices in order to hurt the USA.

Honestly dont really pay attention to news.  Its stuff like this and what reacher posted that keeps me updated.  If I find something interesting this way, I will go read about it. 

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3 minutes ago, Reacher said:

Agree with your first paragraph. Russia didn't cut their prices. They refused to lower their output. The Saudis then lowered prices. Country probably getting hurt the most is Iran. They are dealing with the Coronavirus and now, lower oil prices.  

Thanks for that. Was not aware that Russia had not cut prices, rather than refusing to lower their output.  Appreciate the clarification.  And another reason why I love Hoosier Sports Nation.  So many knowledgeable members willing to share, not just sports info.

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3 minutes ago, mrflynn03 said:

Honestly dont really pay attention to news.  Its stuff like this and what reacher posted that keeps me updated.  If I find something interesting this way, I will go read about it. 

Understand. And it is not a problem as far as I am concerned.  Just happy our members can update you on things. 

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21 minutes ago, milehiiu said:

It seems that the gas war between Russia and Saudia Arabia is what set this off.  The concern for the USA, is that American gas companies have a margin they need to meet, in order to continue to be profitable, and not have to cut employees to continue to be profitable.

Russia seems to be the bad player here.  Cutting prices in order to hurt the USA.

Talking with my friend, she said the exchange rate of rubles to dollars went from 65 yesterday to 76 today! It’s hurting Russia as well, now all the prices will go up! 

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57 minutes ago, milehiiu said:

It seems that the gas war between Russia and Saudia Arabia is what set this off.  The concern for the USA, is that American gas companies have a margin they need to meet, in order to continue to be profitable, and not have to cut employees to continue to be profitable.

Russia seems to be the bad player here.  Cutting prices in order to hurt the USA.

Also a big reason, not corona virus related, why the big drop in the Dow yesterday.

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1 hour ago, milehiiu said:

My wife reported seeing prices well below $2.00 per gallon where we live South of Denver.

Hearing that prices could drop drastically nationally over the next few days.

Is this a good thing ?  Or not ? 

What's happening where you live ?

Here in greenfield Indiana it was 1.92 two days ago when I got gas

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1 hour ago, mrflynn03 said:

https://nationalinterest.org/blog/middle-east-watch/great-oil-war-2020-has-begun-can-russia-win-131187

Could this be an attempt by Russia to try to bring an end to the petrodollar arrangement?

Good article.  I think Russia and the Saudis will get back together. Will it be a couple months (next meeting  in May?) or drag on? Even if some US companies go bankrupt, the wells wil;l keep pumping- just owned by someone else. If demand is down for a long time, and this feud drags on, there will be a lot of excess supply- meaning low gas prices for quite some time.

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13 minutes ago, Seeking6 said:

My Kroger in Carmel was 2.01 today....minus the 30 cents off for rewards I filled up my car just under $22. Felt like it was 1999. 

Yeah. I have been around for a long time.  Still remember my dad giving me $20.00 to fill up our family gas hungry Oldsmobile when I just got my driver's license.  We complained when gas went above 10 cents a gallon.  However, regardless of how empty the tank was in my father's Olds, I always came back with a handful of change. 

Then... when I got to Colorado.  In the early '70's .  Took a trip to Northern Wyoming.  And I was horrified at having to pay 50 cents per gallon, while when in Denver, the cost was less that half that.

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1 hour ago, mrflynn03 said:

So much for peak oil theory.

Actually, with a rising global population, we can expect demand to keep rising - in spite of however many switch to electric vehicles. Couple that with depleting reserves in many countries and eventually that supply demand balance will correct. It will be up to the US to keep finding more and staying ahead of that curve. Years from now we may well be reminiscing about the good old days of $2 gas in 2020!

https://www.forbes.com/sites/michaellynch/2018/06/29/what-ever-happened-to-peak-oil/#74037544731a

Many of the same forecasting mistakes ^^^ are being made now in the name of "climate science"

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4 hours ago, Milosh68 said:

Paid $1.81 at Costco in granger today. $45 filled up my F150

Wow. How big is the tank in your truck ?

Around here, we have a grocery chain that also has gas stations.  King Soopers.  And they discount the cost of gas, depending upon how much you purchase from them in a month. My wife saves the credits up, till the end of the month. And has gotten up to $1.00 off per gallon many times. 

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4 hours ago, milehiiu said:

Wow. How big is the tank in your truck ?

Around here, we have a grocery chain that also has gas stations.  King Soopers.  And they discount the cost of gas, depending upon how much you purchase from them in a month. My wife saves the credits up, till the end of the month. And has gotten up to $1.00 off per gallon many times. 

I used to fill up my company van at King Soopers just to get the credits for my wife to fill up. We routinely got big discounts every month.

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