we will be there by Friday at this rate.
You will be paying for fuel, just not gasoline.
Today, in East Tennessee, gas is 4.50 - 4.95 a gallon for 97 octane depending where you fill up. All my vehicles take High Test.
Years of below replacement value oil has caught up to us. Demand started to rise about 6 months ago. The capital required to increase production was sucked out of the system when a barrel of oil was under $60 for years. Oil companies shelved billions of barrels of already discovered conventional oil, because the price we were paying didn't support spending the capital to extract it. It takes years to get production flowing. Shale oil was a ponzi scheme by the owners, upper management and Wall Street to extract $$$$ from investors. Until Wall Street opens its credit facilities again (not likely as interest rates increase), there will be no increase in the Shale fields. Shale oil selling oil at below costs for close to a decade is what caused all this. We should have been paying $3.50 for a while now. This was always going to happen, just the Russian/Ukraine war accelerated it.
I have 40 gal for that as well...with fuel stabilizer in them
Funny that as soon as it was announced that isnt the time to gouge the consumer prices jumped another .20 a gallon. The oil companies are going to get their share now as well. This will continue until the price gets high enough to slow demand. The question is what that number will be.
Thought about trading in my Infiniti. But, I only have a year left to pay. I may just tough it out to avoid having a car payment after next year.
www.thesun.co.uk
We’re out in northern NV. Prices here are $5/ga, give or take a penny or two
$4.29 here in Roswell Ga. Seems like every news event drives it higher. Talked to a trucker who just paid over $1,000 to fill up. That's insane.
I heard it said gas prices take the elevator up but take the stairs down
