Gasoline watch: Saudi

Actually this might be a good thing for the PHEV/BEV crowd.

People might even start buying regular Priuses again.

 

Yes, I agree - but, depends on your time of purchase.

 

meh - gas was $2.35 here, still the same today. Just watched a news blip on TV and they stated they don’t expect a large jump in prices here in the US. Due mainly to our own domestic oil production.

 

Ours jumped about 20 cents almost instantly. But unless things escalate quite a bit, I expect prices to eventually creep back down till the next panic attack.

 

The wags say that oil is a global commodity, which means that if something threatens its global distribution (say....at the Strait of Hormuz) then prices will rise.

That is what it is.....BUT...the thing (IMHO) that separates us from those bygone days of blocks-long lines and even-odd day gas sales are due (IMHO) to one part increased domestic production and probably 5-10 parts changes in how we use oil/gas for our domestic energy needs.

Either way...."gas watch" is a thing....but not enough to cause people to camp out at gas stations on Sunday night so that they can get to work on Monday. (*)

So...yeah.

Meh.




(*) Fortunately....I live 3 miles from work.

 

why is my exxon still stuck at 70 bucks?

 

Prices here have been creeping up before the incident. The shipping industry switching to low sulfur fuel was projected to raise prices across the board on fuel.

 

This is absolutely true.

If gas supply gets cut in the Middle East (hello escalation), then US suppliers will happily raise their prices to the level the Middle East dependent refiners will pay to keep their plants running. That's what "oil is a global commodity" means in practice.

The only ways to avoid such actions leading to higher prices are:
1. An equivalent increase in supply from some other means, such as from the US Strategic Petroleum Reserve
2. Banning US oil or oil products from leaving the country

 

$2.33 today - down 2 cents here

 

2.16 here....down about 4.

 

If E10 is the norm for you, the price of ethanol has been dropping.

 

Just filled the tank yesterday. No change at $2.45/gal

 

Most stations are up $2.75 from $2.69, but it has been that way since the beginning of the week.