Whats up with diesel prices?

[J35]

Diesel $3.29 RUG $3.09 Richmond VA Sam's Club

 

[Grateful11]

I say fill one, and keep the other handy, as it's not likely to get much lower IMHO.

That's one big guess because right now one really knows. Crude was up $7/barrel today riding the stockmarket coattails.

My wife had 200 gallons of farm diesel delivered this week for $2.93/gallon.

 

[newbury]

Filled up yesterday a WalMart in Fulton, Mississippi - $3.35/gallon, that's down 15 cents/gallon since the June 15th. On the drive from Virginia to here we saw prices mostly around $3.48 for the low.
compare:

Well regular gas is down to $3.05 locally, and I haven't been to town recently to check diesel but I'm pretty sure the last price I saw for diesel was right around $3.51.

The way prices are going it'll be sub $3/gal pretty soon for RUG.

I was right about RUG, lot's of places were below $3, some down to $2.90.

 

[Bob77064]

Today I saw diesel for 3.39 in north central TN. That is the lowest price I have seen in a long time.

 

[crazyal]

It's an election year and with businesses not knowing the direction of the country for the next 4 years they are going to hold off doing much of anything until after the elections (unless polling data shows that it's not going to be close). The fact that Obamacare didn't get struck down is also crimping the economy since it's a 50/50 chance that the GOP will kill it if they win in November. Since the economy is not doing well fuel prices are going to be in flux.

 

[Domush]

It doesn't help China is well on their way to becoming the worlds largest oil consumer, above the United States. I think the state of the wars and unrest in the middle east and Africa have more to do with the prices than anything else.

China happily deals with whoever is in power to buy oil. The USA tends to only work with standing governments after they stop committing genocide. China is simply turning a blind eye to atrocities, so they get the oil and we get shortages and higher prices every time some rebels, or a standing government, goes murder crazy, forcing the UN to get involved.

Is this the only influence? Of course not, but I think it is the main driver as long as oil stays in US dollars. If it moves to a different currency, we'll be in for a horror show, as so far we've been insulated from inflation causing price increases for oil. Once that changes, it'll get scary here very quickly.

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[Paystar]

Don't even remind about diesel prices. I'm in trucking. The price per barrel is way down, but pump prices haven't come down to match. They go up quick, but don't come down. And now the long weekend is here, so we get hit even harder.
Now, just as I predicted they are playing the same game with DEF (diesel exhaust fluid.) The price of it took a big jump and for an excuse to gouge they said it is because of a shortage of urea due to the high demand for fertilizer. Give me a break.

 

[Domush]

The price of it took a big jump and for an excuse to gouge they said it is because of a shortage of urea due to the high demand for fertilizer. Give me a break.

We sure aren't using any fertilizer here, seeing as our crops are dying from drought.

Sent from my SCH-I500 using TractorByNet

 

[newbury]

It's an election year and with businesses not knowing the direction of the country for the next 4 years they are going to hold off doing much of anything until after the elections (unless polling data shows that it's not going to be close). The fact that Obamacare didn't get struck down is also crimping the economy since it's a 50/50 chance that the GOP will kill it if they win in November. Since the economy is not doing well fuel prices are going to be in flux.

Or perhaps it has a lot to do with fracking and the fact we now have more oil than the US based refineries can handle. And that we encouraged everyone to move up to more fuel efficient vehicles. So the family vacation that used 15mpg's now only uses 20mpg's.

Oh, not to mention one war ending and one winding down. The DOD is a significant consumer of oil.

Prices are going down, those of us that can store fuel should look at making the "BIG BUY" (I can store about 1,000 gallons) and wait to see if we get hit for catching a falling knife, or look wise because we bought at bottom and, in say a year, people will tell us we were lucky.

Less than a month ago I was looking at $3.55/gal, today $3.35/gal. A few months ago well over $4/gal. At 50 cents a gallon that's $500 savings for what I can store.

 

[stevem5215]

Bought Diesel yesterday for $2.89 off road, in Portersville, Pa

Steve