Diesel prices take a jump yet again

[Bill Guenthner]

it still sucks to pay TRIPLE for fuel in 2 years. Especially when you use 4,000-5,000 gallons a year.

Absolutely it does. Everyone who can make it better has their hands tied by the federal government. The industry would love to increase drillling.

 

[5030]

My much larger concern is where is the money coming from to supply Ukraine with all the new US made weapons of mass destruction?

From your taxes of course.

 

[BoylermanCT]

Gonna hurt when I fill up my 330 gallon heating oil tank in the next few weeks. We hit $6 a gallon this week. I can offset my winter usage with wood to heat the house, but my spring, summer and fall usage is mostly heating water and I have no other choice for that.

 

[Hay Dude]

Just an FYI - federal taxes on fuel haven't risen since 1993. Thats about the only federal influence of fuel prices. Raising taxes on fuel is a death nel for a sitting president. They wont touch it with a 10 foot pole for good reason.

State taxes on the other hand thats a totally different ball game. You state government needs $ for fixing roads (even federal roads) so they can sell you your tax hike that way.

IF you want to pay attention to tax hikes on fuel pay attention to your state government and what they are doing and vote accordingly.

Federal influence on fuel prices is very very small. About the only thing they can do is make more fuel available from the strategic reserve (which they have done) and that goes to the real reason for high prices:

Supply
Demand

My much larger concern is where is the money coming from to supply Ukraine with all the new US made weapons of mass destruction?

Ukraine don't have 2 nickels to rub together. Food for thought.

Of course you mean "failed policies" = reducing our federal deficit from 3.1 trillion (trump) to 600 billion (Biden) a failed policy?

All you gotta do is follow the money. Oil companies are making HUGE coin now and WE the people are paying for it.

"Exxon annual gross profit for 2021 was $64.202B, a 107.49% increase from 2020"

First quarter 2022 Exxon profits are up X2 first quarter :

"Exxon's 2022 profits doubled in the first quarter to hit $5.48 billion."

Maybe the feds should be taxing these corporations more. Just about the only thing they can do but of course that would again raise the price at the pump... viscous circle.

Eliminating .15-.20/gallon wont really do much when it’s $5-$7/gallon, but it could be a step in the right direction.
The fed should follow the states and have a fuel tax holiday.

 

[deserteagle71]

Took this photo about an hour ago in Winnemucca, Nevada...guess I'll let my Cummins rest a lot more this summer.

And premium costing less than regular...think they got that messed up.

 

[dodge man]

That is high, gas I about $1 a gallon less here and diesel $2 less.

 

[number two]

On road here $4.99-$5.39-not many at $4.99 anymore.
Called on farm diesel this morning-$4.39,no road tax & no sales tax.
Propane customer owned tank-$2.09.
Wanted some "rec" 90 ethanol-free Sunday.
$5.39,a buck over 87 regular.
Just couldn't bring myself to pay over 5 bucks!
Just couldn't!

 

[5030]

On road here $4.99-$5.39-not many at $4.99 anymore.
Called on farm diesel this morning-$4.39,no road tax & no sales tax.
Propane customer owned tank-$2.09.
Wanted some "rec" 90 ethanol-free Sunday.
$5.39,a buck over 87 regular.
Just couldn't bring myself to pay over 5 bucks!
Just couldn't!

There are a few good vids on YT explaining how to remove the alky from gasoline. Not hard, just messy.

 

[mrmikey]

Diesel dropped a bit...a little bit May-04-22 to CAN$2.47L, gas is CAN$1.798L. I swear they drop the price so people will think it's going down, I realize it is but no where near what it went up...........M

 

[Mtsoxfan]

Off road was $4.84 in St. J VT.
Sunoco 87 was $4.17

 

[dodge man]

I talked to a guy that worked with me part time. He also farms and installs field tile. I asked him how much diesel he would go through in a day and was surprised when he said about 40 gallons, I figured it would be more. He had prepaid for 3000 gallons at something like $2.60 a gallon but said he had just used it up. At the pump it was $5.19 a gallon today in Macomb, Illinois.

 

[mrmikey]

Gas is supposed to go up tonite May-06-22 in Nova Scotia by CAN$ 11 cents a liter, that'll put it at CAN$1.91L, US$5.63 a US gallon, diesel is supposed to drop by CAN$ 6 cents....we'll see.....M

 

[mrmikey]

Went up last night, May-13-22 in Nova Scotia, gas is now CAN$ 1.99L, diesel CAN$ 2.46L, works out to US$ 5.75 a US gallon, US$ 7.12 a US gallon............M

 

[CloverKnollFarms]

In the U s we are at the highest cost ever recorded.

 

[jyoutz]

Surely government policy has nothing to do with this, it must be corporate greed.

I don’t know how anyone could say such things as….opening oil pipelines domestically or fracking or drilling for oil in the United States instead of importing Russian oil could help this kind of problem.

I own a small business so I guess I’ll just raise my prices to compensate for the extra costs. Actually I’m going to raise them as high as the market will bear out of fear of the unknown.

Oil companies have made statements at shareholder meetings this year that they were going to focus on increasing shareholder value instead of reinvestment of profits in increased production. Shareholders were getting snarly after losing so much during the Covid related decline in oil revenues. These costs are directly related to industries desire to not significantly increase production and then the loss of Russian oil from the market.

 

[jyoutz]

Absolutely it does. Everyone who can make it better has their hands tied by the federal government. The industry would love to increase drillling.

Not true. Oil companies have made statements at shareholder meetings this year that they were going to focus profits on increasing shareholder value instead of reinvesting profits in increased production. Shareholders were demanding it after losing so much in 2020. But despite those statements, production is expected to reach record highs in 2022.

Short-Term Energy Outlook - U.S. Energy Information Administration (EIA)

www.eia.gov

 

[mrmikey]

Gas supposed to go up tonight May-17 in Nova Scotia to CAN$ 2.08L works out to US$ 6.06 a US gallon, diesel stays the same at CAN$ 2.41 which is US$ 7.03 a US gallon, is it ever going to stop?..........M

 

[CloverKnollFarms]

Gas supposed to go up tonight May-17 in Nova Scotia to CAN$ 2.08L works out to US$ 6.06 a US gallon, diesel stays the same at CAN$ 2.41 which is US$ 7.03 a US gallon, is it ever going to stop?..........M

Nope. Everything is great. Our administration says they have no recession fears . Ignorance truly is bliss

 

[mrmikey]

Gas went up what was predicted, diesel went up too, now CAN$ 2.46L, US$ 7.19 US gallon......M

 

[RoyJackson]

I used to keep the tractor topped off...or, at least ¾ filled. There's about ¼ tank right now.
Considering the price of diesel (even off-road fuel) and the tractor stays outside, I'm expecting fuel theft to be a problem, if that hasn't started already (probably has in some places).
I have about 10 gallons in the garage and no real need for tractor work right now, so I'll leave it at ¼ tank. It's been prepped with Power Service...should be OK

Speaking of fuel, had a real shock yesterday...
I'd written my ZT was getting a full service since all I ever did was oil and filter changes. Figured after 5 or 6 years of use, and around 220 hours, a full service would be a good idea. Now, when parking the mower for the off season, I fill the tank and add Stabil (then run the engine to get the Stabil throughout the fuel system)...then the usual....greasing, etc.
Anyway, called the dealer asking the status of work. He told me all was well, but they had to drain the fuel tank as there was quite a bit of water in the fuel (> 1 gallon was his estimate). I have no idea how water could get in the tank. I never ran the tank dry (normally topped off at ¼-½ tank)...after mowing, the ZT was parking in a garage (no heat nor AC). I have a hard time believing this was condensation built up over the last 5-6 years. At this point, I'm assuming there was water in the fuel when when I was refueling..
Any thoughts? WAGS?