When will the war end, when this number becomes untenable

The Coffee Shop
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So actually two numbers, but first and foremost will be gas prices. Let’s start a poll here on what you are paying, and also seeing in your neck of the woods. Few weeks ago I paid 3;39 for regular, today was 4;11, but most discount places were 4;29 and a lot of stations already over 5 bucks. I’m in So California, so lucky ii can hit Indian casinos for best prices..

Second number will be the stock market. This is what Trump looks into the mirror everyday and asks how am I doing today? 52 new all time highs since taking office was his big talking point, but now in a free fall and even his hand picked minion for the Fed will have to raise rates if the inflation that oil prices hits us hard…

So what you got at your station, and what was it a few weeks ago?

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I think there’s a decent probability that we will be somewhat insulated due to domestic production and Canadian imports (Canada can’t sell large volumes of crude anywhere else). Europe and Asia could be fucked hard though …WTI Brent spread is widening

3.69 today vs. 3.39 to 3.49 over the past month

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I only buy gas once a month, and always at Costco unless I’m on a road trip.

In late December, it was $2.35.

In mid February, it was $2.55.

Today gas buddy says that it’s $2.85.

In March of last year it was $2.75.

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It’s really hard to tell when this is going to end because we haven’t defined what we are trying to accomplish. It’s a lot like the war on Gaza. Trump will bomb for a while and one day he will declare victory and it will over. Primaries get rolling in May and the midterms will create a lot of pressure to find some wins.

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A one month chart is useless for analysis…what’s the one year

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currently 5.22/gal usd here.

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Also fuel oil prices are way up which is a big deal for those of us in the Northeast. Yesterday our oil company suggested that I just buy 100 gallons rather than having the tank filled up. They’re anticipating (hoping) that the oil blockade will be short-lived and prices will drop soon.

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Last Thursday I paid $2.77/gal; this week it is $3.50 and climbing.

I’m in NH.

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Also, oil & gas prices are determined by global supply and demand, not domestic production so even though the USA is a leading produced of oil & natural gas, a world wide supply slow down raises our prices.

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monty asked about, “a few weeks ago”.

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Currently 4.22 here, interior BC.

Maurice

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That, and the usa consumes a lot more oil than we produce. Plus, the refinery capacity that we have can’t process the volume of oil that we extract.

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Yes and no…the benchmarks are priced globally but spot price is local and can be a discount or premium to the benchmark

The US is a net exporter (and most imports are Canadian hence my prior post)

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I’ve been following Mr. Global’s content? He strike me as really insightful.

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CNN has a daily tracker of US gas price increases since the “war” began.

Diesel up 22% and gas up 16%.

We’re currently at $4.24, up from $3.40 a few weeks ago.

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$5.25 in the Seattle area.

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Man, you guys worry too much. Everything will be totally fine. Just a little blip, our energy sec says so. :wink:

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Per AAA - Average price today - $3.45

Per AAA - Highest average price - June 14, 2022 - $5.02…..

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I paid $5.05 per gallon yesterday.

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That’s about where I am at for diesel in Idaho. While folks may be pissed about filling up their car, wait until diesel prices factor into transportation contracts. That is going to hit most of what we purchase.

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