What's the lowest gas prices you've seen? (1 Viewer)
- Thread starter Eddie
- Start date
Larry
Nitro Member
$1 .29.9 at Racetrack in Granbury Tx. where today there is a Christmas toy benifit for underprivileged children at Local Pro Mod Driver Thomas [ Tom Slick ] Meyers shop.
Never miss a chance to help out you know!
Oh and it's a good thing Vaseline prices went down too because oil companies and producers had just sunk billions into new equiptment and technologies to extract oil that no longer will turn a profit.
$ 85. 00 bucks a bbl to get the alowd deep water oil drilled and to the refinerys.
Same old stick and carrot !
Never miss a chance to help out you know!
Oh and it's a good thing Vaseline prices went down too because oil companies and producers had just sunk billions into new equiptment and technologies to extract oil that no longer will turn a profit.
$ 85. 00 bucks a bbl to get the alowd deep water oil drilled and to the refinerys.
Same old stick and carrot !
Who knows how low it will go, the closing regular unleaded spot (trading price before taxes) prices yesterday were the lowest I have seen since 2001. NY Harbor was 86 cents a gallon, Colonial Pipeline was 81 cents a gallon, Gulf Coast was 82 cents a gallon, and the Chicago Pipeline had the lowest price in the country at 75 cents a gallon. With the cost of crude so cheap it does not make sense for oil companies to spend large amounts of money into Exploration/Production because they will never see a positive NPV on the investment at the current crude prices. The cost of extracting oil from a Gulf Rig could get as high as $90 per barrel. At the same time, you have to go with the assumption this is a temporary decline in price just like the large spike in the summer and oil will come back to levels of $60 to $90 a barrel.
aafunnycar
Nitro Member
1.47 yesterday here in Dirty Jer-z!
The Swegian
Nitro Member
Down to $1.49 by my house in Minneapolis. Sure like filling the tank in my Suburban for less than $50.
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