Posted on 04/19/2020 7:58:47 PM PDT by MeneMeneTekelUpharsin
You’re not taking onto account that portion of the per gallon price that will never go down, because it is excise tax levied at multiple levels of government.
They could give the gas away free from the point of view of the producers, and that per gallon tax would be the same as if the total price per gallon was $5.00.
Not here...
Highest excise taxes in the country.
I actually added in my post that taking into account all levels of taxes it seemed high still.
Maybe I better go check my math again :)
Yeah it’s crazy.
Sorry, looks like you are taking taxes into account. There are other built-in costs that don’t go down, such as refinement, refinery maintenance, and pipeline maintenance that will also always exist regardless of the market value of the crude coming out of the ground.
Re: 20:
Detailed Quotes - $CRACK321
Sunday, April 19, 11:41 PM
Last Trade 5:32 p.m. - 15.95
Change 0.93 ( 6.19%)
Trades Today NA
Day’s Volume 2,877
Beta NA
Day’s Range 15.65 - 16.18
Prev Close 15.02 Open 15.63
52 Wk Range NA - NA
Wow that’s brutal.
I mean I’ll take it but another 30 cents a gallon less would have been nice :)
I remember when I drove livery part time about 8 years ago.
Prices were 4.25 a gallon.
If you averaged 20 gallons a night and it’s 2.30 now, that’s 39 bucks a night saved. If you work 6 nights that’s 234 a week.
That’s 936 a month! Not chump change.
I think :)
The last time gas was this low <$1.00 in OKC, America was on the “going up” side of the mountain.
We REALLY need to give OUR President a hand to support his efforts to rescue us
You people need to get out there and burn some of the product. We are basically giving it away.
Look it up...
Well......
I’m looking to buy some LEAP calls on ERX or GUSH. These are 2 or 3 time leveraged index funds in oil.
Eventually the price of oil will recover, and it really can’t go much lower.
Yep- me too- prices were about $1.20 a gallon or so for us, now they are $2.10
The crack spread has recovered from mid March values in the low single digits. But still lower than the were pre-crisis.
https://m.energystockchannel.com/quotes/?a=chart&ticker=$CRACK321&period=1q&title=1+Quarter
5 bucks a barrel is bottom. and it’s a pretty good price for a barrel.
#freewatts
because they paid more a month ago and it has sat.
The reason for the price increase is due to the change from winter blend to summer blend.
a 321crack at $15 is way too high.
thanks for posting.
off topic, but I think we are due for the
summer changeover tank-farm-fire
1.14 yesterday to 1.44 today? I don’t think so.
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