Crude prices collapsed today. Demand destruction >>> supply cuts
Latest gas prices where you are thread
- Thread starter RAMA
- Start date
Crude prices collapsed today. Demand destruction >>> supply cuts
$1.69 in Sarasota, Florida today. Slightly higher out toward the beach where I was.
My local station had a $0.09/gal jump today. Ruh Roh. The wild ride continues...
It only took me $15 to fill up yesterday. I almost fell over. 
Exactly. Like I said earlier in the thread OPEC can try to prop up the price of oil but there are many things working against them. Many OPEC countries need every oil dollar they can get, and to produce less when the price is already low, means even more hardship for them. Many countries cheat on their quotas in this circumstance and other countries not in OPEC don't usually restrict their production either.
Prices will stay low as long as the economy stays bad.
Paid $1.87 per for super in Granada Hills, Ca yesterday. The high was $4.79/gal several months ago! Relief for me!
Yup. They slashed production to try and keep prices level, not to increase prices.
Well, to be fair, the Saudis (and therefore OPEC) are going on about how something in the $60-$80 range is "best for both producers and consumers".
Personally, I'm getting my schadenfreude kicks from seeing OPEC nations also struggling. What can I say? If the West is going down, we're taking the whole goddamn world with us!
I saw $1.59 here in the LA Area.
Gas is $1.45 a gallon and diesel is $2.35 a gallon here.
Back down to $1.35.
And we're back down to $1.33. That was an odd $0.10 spike just to start dropping again.
68.7 cents per litre
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