U.S. pump prices and projections

Harry Le Hermit said:
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Gasoline futures have tended stabilize a bit, although the pass through has not reached everyone. Currently expect another 20¢. Diesel futures seems to have stalled, with not much upward pressure at the moment. Keeping fingers crossed.

The big story seems to be for East Asia and California. Those prices are difficult to gauge with Middle Eastern spot markets trading at a very steep premium to Brent and WTI. Steep as in Oman benchmark at $160. ($73 one year ago. Brent benchmark was $69)
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It seems the Jones Act has temporarily been suspended, which will be a big help in mitigating prices on the West Coast, especially California.
 
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Another uptick in gasoline/diesel futures, which will get passed on to your local stations.

Not sure what to believe, but rumor has it, that sending refined products from the U.S. Gulf to Australia is taking place. The theory goes that Australia has near zilch in the way of refining capacity, with their sources beginning to limit exports. If true, Australia would be facing shortages by end of April. While it is possible, the capacity to export additional gasoline/diesel is limited by port berths availability. Current exports could only be increased by maybe 600k barrels per day. Drawdown of the U.S. SPR is also on tap, but is limited by pipeline capacity of about 1Mbpd.

There are also some rumors regarding halting exports of crude oil, which was once the norm, until 2015, when a law was enacted to allow such exports. It sounds fabulous, until it doesn't.

Seems like a lot of these rumors are being run up the flagpole to see who might actually salute it.
 
I wonder why the countries that are having their facilities attacked with pin point accuracy wouldn't prepare for those kind of attacks.
Given the amount of missiles & drones & ongoing buildup combined with providing funding for terrorist groups in the mid east I'll ask for opinions on.

Thinking out of the box.

Without preemptive action now.
In the not to distant future would Iran benefit from attacking those countries that are seemingly defenseless ?
What would control of the mid east do?
 
Living in Canada, many of us tend to watch certain world trends that may affect our lives. When the seven decades-old name of the American Department of Defense was changed by executive order to the Department of War, I should have decoded a clue. But I didn't.

Intentions toward Iran probably underlay the name shift. It's widely discussed that the thinking or plan hadn't been revealed to Americans, let alone the rest of the world. The roll-out in the Strait of Hormuz would have been one predictable outcome, so the cards were held close to the chest.

We pay more at the pump.
 
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Getting a spike going into the weekend.

Natural Gas in the U.S. is steady, as it should be. LNG processors have been at max through put since 2022, even with rapidly expanding facilities. Granted there is a lot of cash coming in, but building the facilities are not an overnight affair.

Other countries are reliant on LNG to back up their own NatGas supplies. Europe is woefully low on storage (28%), which is not necessarily a problem right now, but we are approaching the period when replenishment starts to fill it back up to about 80%+.
 
Irishdude said:
Trump owns about the same amount of oil company stocks as I do, which is to say, not much. Who knows what goes on in that brain but I don't think this is the cause of the war on Iran.
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Best guess is proactive positioning for the future. I can't imagine the economic impact of Iran, China & Russia combining forces. I know I'm not privy to what goes on behind closed doors when it comes to those 3. I do know cyber attacks generate from those 3. And it's no mystery to me all 3 would love to see America fail as a country.

I ask myself. Would Iran being in total control of the mid east have a positive or negative impact? Would that even be possible? Based on the buildup Iran was doing I'm certain it's possible & a no brainer that it would have a negative impact.
 
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Moderate uptick on national average from yesterday. Futures jumped quite a bit late Friday, so that $4 per gallon threshold of regular gasoline will likely be breeched next week.
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One of the perks of retirement.

Early this morning my wife said lets go out to eat & circulate some money. Circulate some money is code for gambling. Amazingly she was already. Being wise to her ways I shaved, showered & got ready in no time.

While out noticed one of the normally lower cost gas stations Rebel gas station pricing. The sign has regular priced at $4.69 for credit $4.59 cash price. Since everything is really close travel for grocery shopping & trips like today I'm going to estimate the price of gasoline for us is going to set us back about $5.00 more than usual for the month.
 
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The national average is ticking upward, but seems the figure is somewhat distorted by California's rise, where anything less than $5 gasoline is a rarity and $6 is becoming more prevalent per Gasbuddy.com. Diesel is following the same pattern.

Apparently more ships are moving through the Straits of Hormuz, with Iranian permission. China and India mostly, with Japan negotiating.
 
Average per gallon price has gone up about a dollar a gallon. The cheapest in the area 3.89 with many selling upto 4.19.

Less than a month ago paid 2.99 a gallon.

I'm wondering what this is going to do for my next oil change price. Price per quart of oil not cheap either.
 
Calboybob said:
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3. Carbon Offset & Payback Period
  • Accuracy: Scientifically Inaccurate.
    • Tommy’s claim that a turbine "won't offset the carbon footprint of making it" over a 20-year lifespan is false according to numerous peer-reviewed studies.
    • The "carbon payback period"—the time it takes for a turbine to generate enough clean energy to offset its manufacturing and installation—is typically 6 to 12 months.
    • Even conservative estimates for offshore farms place the payback period at under 2 years. Over its 20–30 year life, a turbine produces roughly 98% fewer lifecycle emissions than a coal or gas plant.
Here's a video criticizing Landman's politicization of (lies about) renewable energy sources...
 
RambleTamble said:
3. Carbon Offset & Payback Period
  • Accuracy: Scientifically Inaccurate.
    • Tommy’s claim that a turbine "won't offset the carbon footprint of making it" over a 20-year lifespan is false according to numerous peer-reviewed studies.
    • The "carbon payback period"—the time it takes for a turbine to generate enough clean energy to offset its manufacturing and installation—is typically 6 to 12 months.
    • Even conservative estimates for offshore farms place the payback period at under 2 years. Over its 20–30 year life, a turbine produces roughly 98% fewer lifecycle emissions than a coal or gas plant.
Here's a video criticizing Landman's politicization of (lies about) renewable energy sources...
Click to expand...
"Oil pump prices and projections": The list in the video I posted of the all the things that oil is used for. While the windmill generation of electricity might be up for debate, surely the list of it's uses are not. And as everyone knows that the delivery of food requires oil. With that said I believe we are in for a bumpy ride. I live in California and have already been to the pumps and paid over $5.00 a gallon for fuel. So it's all about what you are looking for and what you see.
 
Calboybob said:
"Oil pump prices and projections": The list in the video I posted of the all the things that oil is used for. While the windmill generation of electricity might be up for debate, surely the list of it's uses are not. And as everyone knows that the delivery of food requires oil. With that said I believe we are in for a bumpy ride. I live in California and have already been to the pumps and paid over $5.00 a gallon for fuel. So it's all about what you are looking for and what you see.
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With the uncertainty we're currently facing, we (our government and private industry) should be investing heavily in renewable energy. It doesn't help that a popular TV show is spreading lies about it. Oh, well...
 
RambleTamble said:
3. Carbon Offset & Payback Period
  • Accuracy: Scientifically Inaccurate.
    • Tommy’s claim that a turbine "won't offset the carbon footprint of making it" over a 20-year lifespan is false according to numerous peer-reviewed studies.
    • The "carbon payback period"—the time it takes for a turbine to generate enough clean energy to offset its manufacturing and installation—is typically 6 to 12 months.
    • Even conservative estimates for offshore farms place the payback period at under 2 years. Over its 20–30 year life, a turbine produces roughly 98% fewer lifecycle emissions than a coal or gas plant.
Here's a video criticizing Landman's politicization of (lies about) renewable energy sources...
Click to expand...
That was Tommy talking as an oilman, not a documentary. A fictional character can say whatever he wants. However it's unfortunate that people believe it is fact. Thanks for posting the facts.
 
We live in a topsy turvy world. Based on today's early spot prices... the rise in pump prices is nearing an end.

Much has been said about diplomacy, but the fact is, most of the crude coming out of the Persian Gulf, goes to Asia. With China receiving a large percentage. India has made overtures with Iran as well. Ships are transiting the Straits of Hormuz, just not as much as in February.

Most of the tankers are bribing Iran and turning off their trackers. Hence ships suddenly appearing hundreds of miles away.

Also in the equation, the unlocking of sanctioned Iranian crude. Coupled with the temporary pausing of the Jones Act... we have the possible senario of two Iranian ULCCs, currently staged at Kharg Island, sailing to the gulf coast to deliver the crude, then loading up from the SPR and sail to California.

WOW!!!
 
At 2:13 PM CST, the DOW is up 776 points and fluctuating based on reports Iran is negotiating, a claim which Iran wholeheartedly denies.
 
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