Oil at $22 a barrel, when do we get .97 cent gas?

[Global OptionsTrades]

USD2.05?

It might cheer some of you stateside, that across the pond, even though our gallon is slightly larger than yours, we pay USD7-8 for it!

 

[El OchoCinco]

USD2.05?

It might cheer some of you stateside, that across the pond, even though our gallon is slightly larger than yours, we pay USD7-8 for it!

Americans always bitch about the price of gas but in my travels I have confirmed that we have the cheapest gas in the world...

 

[Sig]

Americans always bitch about the price of gas but in my travels I have confirmed that we have the cheapest gas in the world...

By far. Most places a liter costs close to what a gallon costs here in the U.S.

 

[El OchoCinco]

I can't see it dropping much farther. IMHO, the correction is getting ahead of itself. The 2x ETF fund I like to play around with is now 9% of what it was in January. I just bought 1,000 shares for just over $2K, and it would have cost me $22K in January...that's just ridiculous. We're still going to need oil...the Saudis can't ramp up enough to supply that much.

I also loaded up cheap on some oil 2x ETFs.....the risk is that it takes a long time for oil to even get back to $40 and the fund churns and decays....but worth a lottery ticket...

 

[Cuddles]

Americans always bitch about the price of gas but in my travels I have confirmed that we have the cheapest gas in the world...

nah...you should check out Venezuela

 

[murray t turtle]

you wont.. same way banks borrowing at 0% but lending at 4%...lol

billionaires always win.. =-)

%%
HE got the direction right=down, down. T Boone Pickens said , as a matter of public record, when he was kid he climbed up the gasoline price pole + lowered the bids. Yogi Bear said dejavue all over again...………………………………………………………………………………………………………………….

 

[Amun Ra]

Yeah, half of states have a gas tax of $.30/gal or more, in PA it's $58.7.

Actually accounting for inflation gas has remained remarkably static in price. For example in high school I distinctly remember $.99/gal gas (late 80s/early 90s), plug that into the inflation calculator and you get $2.00 which is what it cost in that part of the country 3 months ago.

When you combine the federal tax, the cheapest state pays just over 33 cents per gallon(alaska) CA pays almost 80 cents per gallon. Gasoline futures are .67 cents right now, so even with free shipping from the refinery, we're not hitting sub $1 gas anywhere.

 

[Overnight]

When you combine the federal tax, the cheapest state pays just over 33 cents per gallon(alaska) CA pays almost 80 cents per gallon. Gasoline futures are .67 cents right now, so even with free shipping from the refinery, we're not hitting sub $1 gas anywhere.

I can see it hitting South Carolina first, if it ever does. For some reason they always seem to have super cheep gas compared with rest of US.

 

[El OchoCinco]

nah...you should check out Venezuela

An extreme exception to the norm. The price of gas in Malaysia, Japan, Brazil, Panama, Guatemala, Spain and various other places I have done comparison shopping when converting from price per liter to price per gallon...they pay almost double what we do...

 

[Sig]

nah...you should check out Venezuela

Helps when you can pull it out of the ground, no one in your country can afford a car to use it in, and sanctions prevent you from selling it to your otherwise natural customers.