If oil is worth less than nothing, does that mean the gas station will pay me to fill up my gas tank?

[Blackrook]

Somehow, I doubt that's going to happen.

 

[bluzman61]

Somehow, I doubt that's going to happen.

Yep, probably NOT going to happen. However, gas is now at $1.63 a gallon at my local Family Express. THE lowest price I've seen in probably close to 30 years.

 

[Crepitus]

Somehow, I doubt that's going to happen.

I'm told that the $1.33 we are at locally is basically just the price of processing.

No idea how true that is though.

 

[Blackrook]

I remember when gas went up to $4.00 per gallon.

 

[Natural Citizen]

I'm still paying close to three Federal Reserve Notes per each gallon of 93 octane.

 

[OldLady]

Somehow, I doubt that's going to happen.

That's only the futures market. They're their own little investors world.

 

[Blackrook]

Right, but if someone pays me to take a barrel of oil off their hands, how much will I charge after I refine it into gasoline?

 

[OldLady]

Right, but if someone pays me to take a barrel of oil off their hands, how much will I charge after I refine it into gasoline?

My understanding is that NONE of these futures traders actually want the stuff--it's all a paper game. Until oops. Toro, one of our market experts, says this whole negative numbers thing in futures was caused by a trading firm in China.

 

[Maxdeath]

The price of fuel actually depends on a number of things.
The price of the oil that was bought by the refinery.
The price to deliver it to the refinery.
The wages of those at the refinery.
Taxes on the refinery as in state, federal and maybe local.
cost of utilities for the refinery.
Cost of the yearly repairs etc.
Cost of transporting fuel to the station.
Utilities of the station.
Wages of anyone at the station.
State, federal and maybe local taxes on the station.
Last but not least the so called hidden taxes. Federal taxes are about 11 cents per gallon. State taxes can be lower or higher.
There are of course other things that can affect prices like profits, amount per gallon needed to keep up maintenance etc.

 

[evenflow1969]

Somehow, I doubt that's going to happen.

already feels like they are in a way. I filled up for like 20 bucks last mnight. I do like the low gas price.

 

[Natural Citizen]

Heh heh. Our market experts...

 

[OldLady]

Heh heh. Our market experts...

He knows what he's talking about when it comes to the market. Denying that because you don't like his politics is pretty damned stupid, NC.

 

[Natural Citizen]

He knows what he's talking about when it comes to the market. Denying that because you don't like his politics is pretty damned stupid, NC.

I've never given his politics a second thought to be perfectly honest. In fact, I've never given any of the politics of 'our market experts' a second thought.

With regard to the former, what's funny to me is that you people aren't smart enough to challenge a good bullshit story.

But it doesn't affect my livelihood. I find it humorous.

 

[OldLady]

He knows what he's talking about when it comes to the market. Denying that because you don't like his politics is pretty damned stupid, NC.

I've never given his politics a second thought to be perfectly honest. In fact, I've never given any of the politics of 'our market experts' a second thought.

With regard to the former, what's funny to me is that you people aren't smart enough to challenge a good bullshit story.

But it doesn't affect my livelihood. I find it humorous.

The "China ETF" thing may be a rumor, but he knows the market. It's his job. That's all I was getting at.

 

[Natural Citizen]

he knows the market. It's his job.

Heh heh. Of course...

I'll have to remember to remind you of the depth of your own terms of controversy in defining competence the next time you're poppin off about Trump.

Oughta be a hoot.