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Page added on August 7, 2022
Gasoline Under 3 Bucks a Gallon: Here’s Where
Gasoline prices continue to fall in a handful of states to $2.99 a gallon, marking the 50th consecutive day of declines and giving consumers a reprieve as high inflation rates have walloped their budgets.
Gas stations in Oklahoma and Kansas are selling unleaded gasoline for $2.99 as of Aug. 4, according to Patrick De Haan, head of petroleum analysis at GasBuddy, the Boston provider of retail-fuel-pricing information.
The national average is $4.09 a gallon, while 21 states are selling gasoline below $4. A handful of stations have lowered gasoline to $2.99 a gallon.
“We’ll see the national average fall to $3.99 a gallon next week, and it could fall to $3.59 a gallon if we avoid hurricanes,” he said.
The Loves Travel Stop in McPherson, Kan., on Aug. 5 was selling regular unleaded gas for $2.99 a gallon..
A 7-Eleven gas station in Oklahoma City lowered its price to $2.99 on Aug. 4.
Even gas stations along the West Coast have started to drop their gasoline prices to $3.99.
More than half the states are now selling gasoline for under $4 a gallon, including North Dakota and Indiana.
Crude oil prices remained under $90 a barrel on Aug. 5. WTI, the U.S. oil benchmark price was trading at $89.66 while international Brent crude was trading at $95.47.
Crude oil prices declined on Aug. 4 to their lowest since before Ukraine was invaded by Russia. The futures market indicated the onset of a possible recession, which could damp demand from consumers.
WTI on Aug. 4 fell below $90 a barrel for the first time since the invasion began in February, touching $88, while Brent crude fell to $95 a barrel.
Inflation has massively driven up the costs of household staples such as energy, food and housing. The consumer price index was 9.1% in the year through June.
The national average is expected to decline to $3.99 a gallon in “less than a week” since 20 states and 85,000 stations have reached that level, said De Haan.
The smallest declines have occurred in the Northeast states due to “tight inventories and low imports of gasoline” and because this region “relies on supply from outside the area to meet demand,” he said.
Gasoline Prices Could Dip More
Crude oil prices are not expected to see large gains because of the contraction in the economy, Bernard Weinstein, a retired economics professor at Southern Methodist University in Dallas, told TheStreet.
“In the United States, a slowdown in the economy, coupled with reduced demand after the summer vacation driving season, should keep crude oil prices in check,” he said. “The current economic doldrums in China, previously the world’s largest importer of crude oil, will also damp the demand for crude oil.”
Retail gasoline prices could keep declining into the fall, but prices are not likely to dip below $3.25 a gallon because global supplies of oil remain tight, Weinstein said.
“U.S. oil exports, especially to Europe, can be expected to grow in the foreseeable future as Europe tries to wean itself off Russian oil,” he said.
Peak Hurricane Season Starts Soon
Any major hurricanes that make landfall from the Gulf of Mexico could derail the decline of gasoline prices since inventories “remain low” and would hinder production and refining capacities, Rob Thummel, senior portfolio manager at Tortoise Capital in Overland Park, Kan., told TheStreet.
“An unexpected outage like a hurricane impacting the Gulf Coast could cause gasoline prices to rise back into the mid-$4s,” he said.
Global refining capacity is expanding again by about 1 million barrels daily through 2023 after falling by over 3 million barrels a day from 2020 to 2022, Thummel said.
“Increased global refinery capacity will provide relief for consumers keeping, gasoline prices in $3s for the next several years,” he said.
The Colorado State University estimated an active hurricane season and predicted 18 named storms, eight hurricanes, and four major hurricanes that are category 3 or higher.
11 Comments on "Gasoline Under 3 Bucks a Gallon: Here’s Where"
suxs on Tue, 9th Aug 2022 4:42 am
Since the anti-Biden commentators dumped on him relentlessly for the increase in prices, I expect to hear Cloggie congratulating Biden for a job well done. I won’t be holding my breath, of course.
Biden's hairplug on Tue, 9th Aug 2022 10:49 am
This is the judge who initiated the raid against Trump, he is a democrat, a Bruce Reinhart:
https://nypost.com/2022/08/09/judge-who-approved-fbi-raid-on-mar-a-lago-once-linked-to-jeffrey-epstein/
And obviously he is a kike.
He defended the Epstein gang, all-in-the-family, that goes without saying.
Cloggie on Tue, 9th Aug 2022 11:22 am
“Since the anti-Biden commentators dumped on him relentlessly for the increase in prices, I expect to hear Cloggie congratulating Biden for a job well done. I won’t be holding my breath, of course.”
Congratulations!
(You can breathe again, as you look rather silly with that purple head of yours)
Biden's hairplug on Tue, 9th Aug 2022 12:11 pm
Britain in the abyss:
https://edition.cnn.com/2022/08/09/economy/uk-energy-bills-poverty/index.html
“A third of Brits face poverty with energy bills set to hit $5,000”
But hey, anything for Ukraine and US imperialism, no price is too high to pay!
One thing is certain: British roads and airports will soon be quiet and the CO2-emission reduction targets are going to be met “with two fingers in the nose” (Dutch saying):
https://speedyfamily.files.wordpress.com/2010/11/twee-vingers-in-je-neus.jpg
This is not a recession, this is a depression.
And if this wasn’t enough, “controlled blackout” are in store for the UK in January, in order to deal with impending energy shortages. Think periods of up to 4 days:
https://www.bloomberg.com/news/articles/2022-08-09/uk-braces-for-blackouts-gas-cuts-in-january-in-emergency-plan
Note that Britain has NO gas storage facilities.
FamousDrScanlon on Tue, 9th Aug 2022 12:48 pm
“with two fingers in the nose”
It that two fingers in one nostril or one each?
…
Green technocracy’s dirty secret
“The cuts in gas supplies – resulting, apparently, from Canada refusing to return essential turbines following repair – mean that Germany has no chance of building up its gas storage before winter arrives. And, of course, it is possible that the Russian state will use this moment of weakness to cut supplies even further. After all, most of the future gas which would have gone to Europe has since been sold to Asian states instead.
Inevitably then, German – and western – media outlets will spend much of the winter talking about “Putin’s energy cuts.” In reality, it is the European technocracy and its puppet politicians who bear the greater responsibility. After all, it is they who have spent the last three decades leaving Europe vulnerable to precisely this kind of supply shock. As Lea Booth at Quillette argues:
“The truth is that the Energiewende was doomed to fail from the start. Germany bet big on solar and wind and shut down their nuclear plants when they should have forgone renewables and expanded their nuclear energy program instead. Germany’s anti-nuclear ideology is so rigid that they closed three nuclear plants in December 2021, despite the global energy crisis, and plan to close their last three nuclear plants this December, despite Russia’s energy extortion.
https://consciousnessofsheep.co.uk/2022/07/27/green-technocracys-dirty-secret/
…
Ukraine criticizes Canada over return of turbines for Russia-Germany pipeline
https://www.ctvnews.ca/canada/return-of-turbines-for-russia-germany-pipeline-from-canada-counterproductive-critics-1.5981741
What will Ukraine do? Put a Pierogi embargo on us?
What happened to this mythical Russian self reliance Putin cheerleaders have been touting these last few years?
Are the Russians, a nation of 144 million, incapable of repairing or manufacturing their own turbines?
If all nations caved to Ukraine whining and sniveling the global economy would collapse overnight.
Canada is full of dumb fucks who feel a sense of loyalty to Ukraine because their great grand parents came from Ukraine. So fucking what? It’s an imaginary bond. If you owe any allegiance it’s to the country that helped pay to raise and educate you, not some bullshit nostalgic fantasy-land half a world away. Fuck Ukraine. The moment the US empire no longer needs Ukraine they will shit them out like fast food the morning after.
FamousDrScanlon on Tue, 9th Aug 2022 1:22 pm
John Cleese’s War on Wokeism
Aug 1, 2022 The Monty Python legend says political correctness is ruining creativity in all aspects of human activity.
https://www.youtube.com/watch?v=mBf6kJIbXLg
Biden's hairplug on Wed, 10th Aug 2022 3:00 pm
Ukraine has finally started its long-awaited southern offensive against Kherson, liberation expected to be a matter of hours:
https://twitter.com/jaccocharite/status/1557335157199327232?s=20&t=zXvZTpSQ1Kmamv-1eCeL3w
Biden's hairplug on Wed, 10th Aug 2022 3:19 pm
Saudi businessman drops dead, out of the blue:
https://twitter.com/2_bloempje/status/1557266934323896320?s=20&t=zXvZTpSQ1Kmamv-1eCeL3w
FamousDrScanlon on Wed, 10th Aug 2022 4:20 pm
clog twitter? really? Where are those European high standards?
Getting closer…{good pictures}
Rhine close to running dry in German energy nightmare
Rhine water levels at Kaub will soon make it impassable for barges carrying coal and gas imports
“Germany’s Rhine river will become impassable for barges carrying coal, oil and gas later this week, in a devastating blow to factories upriver.
Levels at Kaub, a key point along the waterway west of Frankfurt, are predicted to fall to below 40cm on Friday, according to the German Federal Waterways and Shipping Administration.
At that chokepoint, the river becomes effectively impassable for many barges, which use the Rhine to move a range of goods including coal, oil and gas.
Water levels will then fall further to 37cm on Saturday, officials warned.
The river runs from Switzerland through France and Germany to the Netherlands, where it joins the North Sea.”
It is a vital supply line for several major companies, providing transit and plentiful water for engine cooling.
These include BASF, the German blue-chip chemicals giant which has a huge facility at Ludwigshafen, electricity generator RWE and Swiss chemicals group Novartis.”
https://www.telegraph.co.uk/business/2022/08/10/rhine-become-impassable-friday-german-energy-nightmare-becomes/
Theedrich on Mon, 15th Aug 2022 1:24 am
America is dissolving into madness in every way. The U.S. Ukrainian proxies are trying to insert into the American mind the fantasy that Ukies are angels and the Russians devils. Thus, according to their propaganda, Russia is bombing a nuclear power plant on its own territory while peaceful Ukraine is just looking on without doing anything. Meanwhile, in reality, in the Donetzk town of Pyesky (or Pisky, Пiски), the Russians are using a weapon based on the same thermobaric principle that America used in the Afghan war with its “Mother Of All Bombs” (“MOAB”). That weapon is a highly effective flame thrower called the “TOS-2” or “Tosochka” (ТОС-2 / “Тосочка”) This, of course, is in addition to both the guided and shoot-and-forget rockets now chewing up the Ukrainian forces at a frightful pace. Ukrainian mutinies and abandonment of position by poorly trained troops are increasingly frequent. As a result, not only has Pisky now been taken, but the entire Ukainian line in the Donetsk has been severely weakened. In contrast to this reality, the U.S. propaganda machine called the mainstream media continues to dish out falsehoods to its hypnotized viewers. Commentators such as Kissinger (to say nothing about various retired politicians, washed-up generals and Hollywood types) are little more than hired propagandists for the mentally disintegrating elites in control of the U.S. regime.
American megalomaniacs prefer propaganda and myths. The Russians prefer reality, logic and intelligence. Guess who’s winning.
Biden’s hairplug on Mon, 15th Aug 2022 3:25 am
Billionaire Ray Dalio predicts economic collapse United States:
https://youtu.be/g83jCZhJNnA