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Lower Fuel Prices

 
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Old 12-16-2014, 09:33 PM   #1
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Lower Fuel Prices


Everyone happy gas prices are lowering? How low do you think they'll go before they rise again.

I ran some numbers, if the entire year was at the same gas price as today ($2.38) I would have an extra $4,316 in the business account. Pretty substantial.
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Old 12-16-2014, 09:36 PM   #2
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Re: Lower Fuel Prices


$2.06 Here!

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Old 12-16-2014, 10:58 PM   #3
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Re: Lower Fuel Prices


I just ran the numbers. Last year's average vs today's price would be $10k for us.
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Old 12-16-2014, 11:14 PM   #4
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Re: Lower Fuel Prices


I'm not going to run the numbers, because I will weep.

I told my wife yesterday that if I see $1.XX, I'm ****ing off and driving to Alaska like I promised myself I would when I was a teenager, but didn't because I was stupid and thought work was important.
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Old 12-16-2014, 11:17 PM   #5
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Re: Lower Fuel Prices


Huh. I can remember 11/gal. Go ahead, try to make me happy.
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Old 12-16-2014, 11:20 PM   #6
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Re: Lower Fuel Prices


Funny. Been thinking about same thing since I filled up this morning Figured there was starting to be some real money involved now in fuel savings. $3500 here. Huge for my small business ....But for some reason I'm still getting fuel surcharge from my supplier? WTF.
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Old 12-16-2014, 11:22 PM   #7
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Re: Lower Fuel Prices


$1.09 here


















per liter.
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Old 12-16-2014, 11:24 PM   #8
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Re: Lower Fuel Prices


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Originally Posted by Tinstaafl View Post
Huh. I can remember 11/gal. Go ahead, try to make me happy.
True, but the stegosaurus got really pissed when you shoved the nozzle in, didn't they? Or did you drive a triceratops?

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Old 12-16-2014, 11:41 PM   #9
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Re: Lower Fuel Prices


I got 25 cans of chew and filled my truck (3/4 of a tank) on Monday for $113. I about chit myself

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Old 12-16-2014, 11:43 PM   #10
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Re: Lower Fuel Prices


Nothing Runs Like A 'Tops!
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Old 12-17-2014, 12:11 AM   #11
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Re: Lower Fuel Prices


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Huh. I can remember 11/gal. Go ahead, try to make me happy.

Gas wars.

Hey, wait a minute! Dinosaurs are fuel! Doesn't anybody remember Dino at Sinclair?
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Old 12-17-2014, 12:23 AM   #12
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Re: Lower Fuel Prices


Its substantial for us, not sure how much, but a lot. Our fuel bill is a lower level guys wages for a year.

Im in a different boat down here in Texas, if they stay low im more concerned about how many projects wont happen or will get postponed because of the oil and gas market. I work for a lot of drillers and oil guys, had a custom home we finished design and bid in October, we got paid for that but the project is on hold for the time being, and I wonder if it is due to the oil prices.

Have quite a few estimates out and no one is pulling the trigger. Could just be jumpy, but its got my wheels turning.
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Old 12-17-2014, 12:43 AM   #13
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Re: Lower Fuel Prices


Quote:
Originally Posted by BamBamm5144 View Post
Everyone happy gas prices are lowering? How low do you think they'll go before they rise again.

I ran some numbers, if the entire year was at the same gas price as today ($2.38) I would have an extra $4,316 in the business account. Pretty substantial.
Actually no I'm not happy, is causing stocks to tumble. My retirement is taking a beating lately. I would gladly give up 4300 bucks to put my mutual funds back where they were.
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Old 12-17-2014, 06:45 AM   #14
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Re: Lower Fuel Prices


I noticed when we first bought our house and we were getting groceries for about $110 a week but then fuel prices took that same food to $220 a week that I'm still paying $220 a week!
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Old 12-17-2014, 06:54 AM   #15
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Re: Lower Fuel Prices


It's nice to get a break at the pumps but I buy a massive amount of electronics at US dollar prices....at 85cents to the dollar I'm getting slaughtered.
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Old 12-17-2014, 07:46 AM   #16
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Re: Lower Fuel Prices


I used to trade crude. Last time we saw a waterfall like this was 2008 during the crash. There is a very eary feeling in the market right now. With crude and the USDX resembling 08 so closely it makes you wonder whats brewing. Ultimately it doesn't matter, the fed bill keep stimulating the economy. Monetary base is up 500% since 08. There's your answer for stock market highs. Bring on dow 20,000!

The reason the stock market if falling with crude is traders are being killed and are being forced to sell stocks to raise cash to pay for the leveraged money they are losing on crude. I don't think we have seen capitulation in the crude market yet. Prices wont stabilize until almost every trader trying to pick a bottom is dead. Only those with pockets a mile deep are left alive after corrections like this. However, the dollar is finding hard resistance at the highs back in 2009. If she breaks through the skys the limit.

Interesting times we live in...
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Old 12-17-2014, 07:54 AM   #17
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Re: Lower Fuel Prices


Bam, to answer your question. On WTI crude I think if we break through support at $53ish we will head back to the 2008 crash lows and probably capitulate and find buyers there. That would be around $40/barrel WTI. What that translates at the pump I don't know. The crude market moves fast so its hard to tell how long it would stay down but I can't imagine seeing $100/barrel again anytime in the next year without a middle eastern war.
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Old 12-17-2014, 09:44 AM   #18
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Re: Lower Fuel Prices


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Bam, to answer your question. On WTI crude I think if we break through support at $53ish we will head back to the 2008 crash lows and probably capitulate and find buyers there. That would be around $40/barrel WTI. What that translates at the pump I don't know. The crude market moves fast so its hard to tell how long it would stay down but I can't imagine seeing $100/barrel again anytime in the next year without a middle eastern war.
The Ruskies are trying to break the petro dollar (US dollar) and this would destabilize the monetary gains of the Middle East with Brics holding on the cash value and a large energy supply. They cannot compete right now because they are not flush with US dollars and so can't make any money on cheap energy. The Mideast knows it has to keep crude low right now to keep Russia from being their pimp. If the Brics over take the dollar then Russia will be liquid with cash and supply and therefore will drive middle eastern oil up to what they can produce at.

Or something like that.
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Old 12-17-2014, 09:50 AM   #19
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Re: Lower Fuel Prices


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The Ruskies are trying to break the petro dollar (US dollar) and this would destabilize the monetary gains of the Middle East with Brics holding on the cash value and a large energy supply. They cannot compete right now because they are not flush with US dollars and so can't make any money on cheap energy. The Mideast knows it has to keep crude low right now to keep Russia from being their pimp. If the Brics over take the dollar then Russia will be liquid with cash and supply and therefore will drive middle eastern oil up to what they can produce at.



Or something like that.

Good info. Going to look into that.

Last week on the radio they said the break even price for most middle eastern countries is around $100/barrel Brent crude. Something has to give.

All I know is that is you are in the know epic fortunes are made on volatile moves like this and the transfer of wealth to the super rich happens very quickly. Volatility can be very profitable.
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Old 12-17-2014, 09:54 AM   #20
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Re: Lower Fuel Prices


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Its substantial for us, not sure how much, but a lot. Our fuel bill is a lower level guys wages for a year.

Im in a different boat down here in Texas, if they stay low im more concerned about how many projects wont happen or will get postponed because of the oil and gas market. I work for a lot of drillers and oil guys, had a custom home we finished design and bid in October, we got paid for that but the project is on hold for the time being, and I wonder if it is due to the oil prices.

Have quite a few estimates out and no one is pulling the trigger. Could just be jumpy, but its got my wheels turning.

Hate to say it but I'd be worried if I were in your shoes. It takes a lot longer to mobilize a drill rig than it does to stack it in the yard. Rig counts are falling fast! http://www.wtrg.com/rotaryrigs.html

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