gas price going down

[liketrolling]

It will not cost as much to go fishing but the bad thing is the ones working in oil may lose there jobs
Crude oil today is $21.25

gas cost in Utah   https://www.gasbuddy.com/GasPrices/Utah
Gas Price Charts  https://www.gasbuddy.com/Charts
My son called me and ask what oil stocks to buy,  if you buy at the right time you could make a new boat

---

For the fourth straight week, the national average price of gasoline has fallen, plummeting 12.8 cents over the last week to $2.08 per gallon today according to GasBuddy data compiled from more than 11 million individual price reports covering over 150,000 gas stations across the country. The average price of diesel, meanwhile, fell 6.5 cents to $2.66 per gallon.“Gas prices have spent virtually all of March marching lower, with the drop continuing as the coronavirus destroys oil demand globally, leading to the lowest oil prices we’ve seen in 18 years, paving the way for still an additional 35-75 cent per gallon drop at most stations in the weeks ahead,” said Patrick DeHaan, head of petroleum analysis for GasBuddy

[a_bow_nut]

I wish somebody would tell the people that supply the Heber area. We are still over 2.40 a gallon.

It's cheaper for me to fill up in Park City at the Chevron station than it is to get gas at the Maverick in Heber.

[fishinfool]

Utah seems to never fall in price like the rest of the country. And if we finally grip enough on social media it falls a few days later. So get on fake book and grip y'all!

fnf

[Tarponjim]

$1.99 in Manila!  That never happens, at least not in the last couple of decades.

[SkunkedAgain]

I agree Utah, especially Logan only knows how to raise prices they never seem to drop them. I get most of my gas in Brigham if I can.

[fishnotphish]

I hate the price "float" pervasive at the gas pumps. Price of oil goes up, immediate price hike at the pump. It goes down, and they lower the prices as slowly as possible and only because the other stations start working down the prices.

That said, the stations are most certainly suffering economically at this point since much of their profit is from retail sales of drinks and snacks. Have you been in one of these lately? The people working the counters are usually not to blame for the "float" - so in the hope that they'll keep their jobs, I'll give them a pass this one time.

[chinook]

FishnotPhish, well said.  I hate this too.

I hate the price "float" pervasive at the gas pumps. Price of oil goes up, immediate price hike at the pump. It goes down, and they lower the prices as slowly as possible and only because the other stations start working down the prices.

[catchinon]

I just spoke to my son who is an area oil and gas drilling supervisor working currently in Wyoming. They are currently stacking all their wells (shutting them down). He has been going around and rah-rahing his crews, shaking hands and getting up close. He recognized how dangerous that is so he is stopping it, especially since his workers come from all over the country. He said they are expecting crude to drop to $5 a barrel before this is over and he doesn't know how long he will stay working. Our biggest concern is for when he returns home to his wife and three young daughters.

[mtncat1]

It will not cost as much to go fishing but the bad thing is the ones working in oil may lose there jobs
Crude oil today is $21.25

gas cost in Utah   https://www.gasbuddy.com/GasPrices/Utah
Gas Price Charts  https://www.gasbuddy.com/Charts
My son called me and ask what oil stocks to buy,  if you buy at the right time you could make a new boat

---

For the fourth straight week, the national average price of gasoline has fallen, plummeting 12.8 cents over the last week to $2.08 per gallon today according to GasBuddy data compiled from more than 11 million individual price reports covering over 150,000 gas stations across the country. The average price of diesel, meanwhile, fell 6.5 cents to $2.66 per gallon.“Gas prices have spent virtually all of March marching lower, with the drop continuing as the coronavirus destroys oil demand globally, leading to the lowest oil prices we’ve seen in 18 years, paving the way for still an additional 35-75 cent per gallon drop at most stations in the weeks ahead,” said Patrick DeHaan, head of petroleum analysis for GasBuddy

i've been getting diesel at costco for under 2 bucks a gallon for about 2 weeks now , such a good price i may pull my boat out and fill it up too.

[Joe_Hill]

$20 a barrel oil = $1 a gallon gas give or take depending on taxes. Prices are still extremely inflated.

[mtncat1]

the problem is gas tax is over a dollar a gallon so gas can't really go much cheeper

[dubob]

the problem is gas tax is over a dollar a gallon so gas can't really go much cheeper

Sorry - that's just not true with regard to what we pay at the pump when we fill our motor vehicles.  Were you perhaps refering to some other place taxes are applied to motor vehicle fuel? 

Utah adds 31.1¢ to a gallon of fuel (Link) and the Feds add 18.4¢ to gasoline and 24.4¢ to diesel (Link).  That's a total of 49.5¢ added to the actual cost of gasoline and 55.5¢ added to the actual cost of diesel.  You can argue the value to the country at those rates, but it isn't even close to being over a dollar.  

[Bduck]

The question that seems to keep popping in my mind is how much longer can these oil companies keep operating like this. A lot of businesses have shutdown, when is it or if it's going start with oil companies. Quite a few of us have been around when gas was rationed back in the 70's. My memories of this was long long lines at the pump based on an odd/even license plate number. Store shelves are empty with certain items, gas rationing could be on the horizon. I filled up my gas cans only so I can maintain my yard work and topped off my vehicles. My truck has been sitting for 2wks on a full tank so I had to put diesel treatment in it and just park it. My boat gas tank is full and treated also. Just a thought

[a_bow_nut]

The oil tankers running on Hwy 40 out of the Uintah basin have all but disappeared. But if oil can be bought at such cheap rates I think that there will be plenty for fuel.

As the pandemic passes things will start to ramp back up as more people come out and businesses start opening the oil industry will have the ability to ramp up production to match demand.

[Joe_Hill]

<quote option="&quot;dubob&quot; pid='1096949' dateline='1585836044'"><quote option="&quot;mtncat1&quot; pid='1096939' dateline='1585802125'"><br />
the problem is gas tax is over a dollar a gallon so gas can't really go much cheeper</quote><br />
<color option="#800000" style="color: #800000;"><font option="comic sans ms" style="font-family: comic sans ms;"><size option="medium" style="font-size:medium">Sorry - that's just not true with regard to what we pay at the pump when we fill our motor vehicles.  Were you perhaps refering to some other place taxes are applied to motor vehicle fuel? <br />
<br />
<br />
Utah adds 31.1¢ to a gallon of fuel (<url href="https://tax.utah.gov/fuel/rates" option="https://tax.utah.gov/fuel/rates">Link</url>) and the Feds add 18.4¢ to gasoline and 24.4¢ to diesel (<url href="https://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States#Federal_taxes" option="https://en.wikipedia.org/wiki/Fuel_taxes_in_the_United_States#Federal_taxes">Link</url>).  That's a total of 49.5¢ added to the actual cost of gasoline and 55.5¢ added to the actual cost of diesel.  You can argue the value to the country at those rates, but it isn't even close to being over a dollar.  </size></font></color></quote>And in Wyoming the state tax is just 24 cents a gallon. No state income tax either. I'd retire there except 6 months of winter is too long for me.<br />
The U.S storage of oil is now completely full. Prices should be about a buck a gallon for the next 3-4 months but they won't.<br />

[mtncat1]

$20 a barrel oil = $1 a gallon gas give or take depending on taxes. Prices are still extremely inflated.

 

the problem is gas tax is over a dollar a gallon so gas can't really go much cheeper

Sorry - that's just not true with regard to what we pay at the pump when we fill our motor vehicles.  Were you perhaps refering to some other place taxes are applied to motor vehicle fuel? 

Utah adds 31.1¢ to a gallon of fuel (Link) and the Feds add 18.4¢ to gasoline and 24.4¢ to diesel (Link).  That's a total of 49.5¢ added to the actual cost of gasoline and 55.5¢ added to the actual cost of diesel.  You can argue the value to the country at those rates, but it isn't even close to being over a dollar.  

you may be right bob , your numbers sound a little low to me ,but  that dosen't change my point ,a huge part of buying fuel is the state and fedral tax on it, and that it will quickly get to the point that the cost of production will be more of a factor in cost than the price of the crude oil .

[dubob]

you may be right bob , your numbers sound a little low to me . . .

Did you verify them as accurate by looking at the links I provided in my post above?

you may be right bob , your numbers sound a little low to me ,but  that doesn't change my point ,a huge part of buying fuel is the state and federal tax on it, and that it will quickly get to the point that the cost of production will be more of a factor in cost than the price of the crude oil .

I don't know how tax rates are set for fuel.  I can guess that they are inflation driven.  They do change over time and a historical research will show the slowly increasing rate over time.  But the tax rate isn't governed by the cost of crude oil which fluctuates both up AND down over very short periods of time.  Right now, my local Maverik stations are selling regular at $2.299/gal.  So, the tax rate being added by the Federal & State agencies is equal to 21.5% of the total.  If the cost at the pump drops to say $1.999/gal, then the tax rate becomes 24.7%.  WHEN it goes back up to $2.999/gal the rate will be 16.5%.  At $3.999/gal you get 12.3%.

I DO understand the point you are trying to make.  I just have a very hard time understanding why you think that the RATE of taxes added to fuel costs is HUGE.  If the tax rate was 75% or more of the fuel cost, that would qualify as huge to me.  But at less than one quarter of the total cost - nah.  No disrespect intended mtncat1, but being an electronics engineer in a previous life made me look at all the facts and figures.  Besides, what else am I going to do under this STAY SAFE, STAY HOME period?  Good health & tight lines to you in the future.