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[statham]

$1.82 here, filled up my tank for $18. Love it.

 

[AstroNut325]

I really wish this downward trend would stop. More people will simply go back to extremely fuel-inefficient vehicles.

We desperately need to increase the gas tax.

Unfortunately vehicle miles traveled is up significantly and efficiency gains have stopped.

This too. The gas tax needs to go up. Significantly.

 

[Koppai]

We have been in the 1.60s for a while now.

 

[Quixzlizx]

Yup. And you brought up an analog that you felt was similar enough to an entire province in Canada who is suffering to make their problems seem okay.

Straw man.

The analog is similar, and their problems are OK.

And you should probably make sure you understand your logical fallacies when you link one from Wikipedia. The one you should be accusing me of is "false equivalence," even though I don't believe it is one. Individuals will always lose out as humanity advances as a whole, and that is unavoidable.

 

[XOMTOR]

We have been in the 1.60s for a while now.

Damn, that works out to $0.422 per liter. Here in New Brunswick, we're at $0.964/L and we think that's pretty decent. Shit, you guys are less than half that again.

 

[spawnsniper]

Just like everyone else said. Fuck california

 

[helloresolven]

Gas prices continue to increase (at least here in California) due to unplanned maintenance at various refineries.

After declining for the latter half of the year...

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPM0_PTE_SCA_DPG&f=W

 

[Ogodei]

Thanks Newt!

I was thinking of that a few months ago (or something). Newt's plan seemed insane in 2012, and he got it done without even becoming president

 

[killer rin]

This makes me wonder how it'll effect the Trudeau government plan of running deficits for a few years.

All it means is that Trudeau is going to have to spend more money to get the same bang for the buck as what he originally planned. Take for example the new bridge we are building between Windsor and Detroit that Harper agreed to pay 100% for that is now estimated to cost 3.5 Billion Dollars more because of our falling currency.

Lol. Yet the prices of gas in Toronto is pretty damn expensive. These oil companies are crooks.

Its because we hardly have any refineries for it. We export as crude, and then import as Oil and Gas. If we actually had these things it would be cheaper.

 

[Rubenov]

Fun to see how low it goes once Iran pumps another million barrels a day.

As the market is forward-looking, a lot of it is priced in. Hard to say how much though. I know when negotiations seemed like they were going well, and right after they were declared a success, oil was tanking significantly.

 

[entremet]

You can base your economy on natural resources just fine

You can't base your economy on one natural resource that you have no control over the price of

Good clarification. That was the spirit of my message. You need diversity, just like a financial portfolio.

 

[Rubenov]

It's been great for my oil bill as I paid 1.45 a gallon. I don't think it's been that low for 10 years. I am waiting for the other shoe to drop though. They will end up cutting production and before we know it gas and oil will be back up to 4 bucks a gallon.

Problem is OPEC isn't cutting production. Saudi Arabia wants to kill NA shale, and so far they're succeeding. Production in NA is down while OPEC has decided to keep their production quotas elevated.

 

[Suikoguy]

Problem is OPEC isn't cutting production. Saudi Arabia wants to kill NA shale, and so far they're succeeding. Production in NA is down while OPEC has decided to keep their production quotas elevated.

That's only part of the picture, I doubt oil being priced this low was in the cards for SA.

 

[Plinko]

The real kick in the balls here?

Food prices haven't gone back to the levels they were pre-oil boom. Cereal is still almost $4 a box, etc. The crooks will never bring them back down.

 

[grumble]

The gas tax really, really, REALLY needs to be increased. Like, today. The fact that it hasn't is a massive governmental failure and you should be writing to your congressman. Your road fund is fucked and this will be hurting you more and more personally every day.

 

[Rubenov]

That's only part of the picture, I doubt oil being priced this low was in the cards for SA.

The glut is everything. They met in November and decided to keep the same levels of production. US shale + OPEC production = current conditions. Demand is higher than ever, so it's not that. Iran is just another factor adding fuel to the fire.

 

[XiaNaphryz]

Gas companies are colluding to keep prices high in Cali... WTF how is this possible?

Yeah is $3 a gallon here where I live in California

So 3.50 in Cali then? :/

I filled up at Costco yesterday, it was $2.32 a gallon for regular. Bay Area here.

 

[perfectchaos007]

The gas tax really, really, REALLY needs to be increased. Like, today. The fact that it hasn't is a massive governmental failure and you should be writing to your congressman. Your road fund is fucked and this will be hurting you more and more personally every day.

How so? gas tax in most states are a flat number per gallon, not by %. So the state tax in Texas is 20 cents per gallon, so it doesn't matter if gas prices are $5 or $1 per gallon, the state is getting 20 cents per gallon.

 

[CharminUltra]

Suckers. I've saved a ton of money ever since I started using the Force to get to work.

 

[Ether_Snake]

Will soon be under 30.

 

[Slixshot]

Is this why the stock market is currently going to shit?

 

[Ether_Snake]

Is this why the stock market is currently going to shit?

That's mostly China.

 

[Gallbaro]

That's mostly China.

The rate raise -> China

 

[Dagobert Duck]

wait 2 $ per Gallon is already a lot? I hate you America.

In Germany we are currently at around 1.20 € per liter (so I guess around 4.20 € per gallon...)

 

[Le-mo]

Gas prices never seems to change in Seattle. Its been going up.

 

[Vanillalite]

We dropped bellow $33 on WTI today due to China fuckery and the general wtf do we do with all of this oil.

 

[Roland_Gunner]

The rate raise -> China

A 25 point rate increase is nothing compared to the weakness in China and commodities.

 

[numble]

How so? gas tax in most states are a flat number per gallon, not by %. So the state tax in Texas is 20 cents per gallon, so it doesn't matter if gas prices are $5 or $1 per gallon, the state is getting 20 cents per gallon.

There is a federal gas tax.
You can raise a flat rate tax.
If gas goes down 50 cents per gallon and you raise the tax by 30 cents per gallon, people are less likely to be upset, as the overall price is still lower than before.

 

[Roland_Gunner]

Conor Sen made a good point on twitter. If you adjust for inflation we're basically back to the $24 per barrel price that was hit in 2002. Never expected to see those prices again.

 

[jmdajr]

'How do I hold

all these barrels of oil?"

 

[Kurdel]

Can I buy a barrel of Oil? Is so, how much is shipping?

 

[Rubenov]

Can I buy a barrel of Oil? Is so, how much is shipping?

Much easier to buy oil stocks or etfs. Where the heck are you gonna keep a barrel?

 

[BigDug13]

Florida is so backward. $1.95 for regular. $2.75 for supreme. $0.40 per fuel grade upgrade. It costs as much to fill up with supreme in many Tampa gas stations as it does to fill my car at home in San Diego. That's fucked.

 

[whitehawk]

Thanks Harper.

Trudaeu has some work ahead of him

 

[Slayven]

So... when do the airlines get sued for artificially inflating plane tickets now that fuel prices have tumbled?

airlines don't buy fuel a la carte, they buy it ahead of time at a fixed price

Yeah airlines buy fuel on long term fixed rate contracts. protects them from when gas spikes, but doesn't give them the bonus of when gas gets cheap.