Cheaper fuel for the summer?

[McMooney]

today picked up  21.56 gallons of 100LL @ $2.45/gal.  KLBX.

It was a good day to Fly

[Davidv]

2 hours ago, carusoam said:

So...

About a month has gone by...

fuel prices have been heading a good way... in the right direction...

 

Then OPEC got together for a week...

And came up with a plan to cut oil production...

OPEC and allies finalize record oil production cut after days of discussion
https://www.cnbc.com/2020/04/12/opec-and-allies-finalize-record-oil-production-cut-after-days-of-discussion.html?__source=iosappshare|com.apple.UIKit.activity.Message
 

See how long the agreement lasts before getting disappointed.

Best regards,

-a-

I don't want to jinx our low prices but the reaction to the cuts was less than enthusiastic today (oil price barely up)...  Interesting times, hopefully our domestic producers can still hang in there though.

[WilliamR]

While the cuts are dramatic they only equate to 10% of the world's supply.  That and given the demand curve for oil is probably flatter and lower than its ever been, no surprise the minimal change.  Frankly, I was surprised at the early morning spike in prices.  Wonder what those trades were about.  Possibly derivatives covering.?

I like what Goldman said, "historic yet insufficient".

William

[Mark89114]

I would rather pay more for gas if it would get us out of this economic crisis.  They are unrelated, but related.

[tmo]

I don't think it works this way, sadly.  I've been paying more for gas ($9.10 per US gallon as of yesterday) and can't even take my dog to the park... Or, as of today, be in public without a face mask... :\

[carusoam]

Before there were roads for trucks and cars
Before there were trains... Rt1, Boston post road....

Before there were steam engines... NE Corridor

Goods were shipped around NJ via Rivers and canals... Delaware Raritan or D&R Canal...

NJ is cut in half by a 30+ mile canal between Trenton (capitol) and New Brunswick by the D&R...

Dragged on Barges, pulled by mules...

Some of the canals are still in place...  (convenient and large modern water storage facility...)

The mule paths make great running trails and bicycle roads... and go past a few of NJ’s airports...

The mule paths are part of a park system and are experiencing a sort of TFR... temporarily closed for Covid.

 

Where this is going....

With all the deep cuts in oil production.... mentioned above...   

The usage cuts due to Covid are even deeper...

The cost of a barrel of West TX Intermediates has gone below $20 per barrel again, post opec+ production cuts...

Generally... car gas, 100LL, and other fuels is going to be low for another month...

Good times lie ahead...

Just need to be able to test for Covid, develop a vaccine for Covid, do something with Covid anti-bodies, or survive a bout with Covid...

Stay healthy!

PP prediction only, not an economics futurist...

Best regards,

-a-

 

[MooneyMitch]

 

1 hour ago, carusoam said:

Before there were roads for trucks and cars
Before there were trains... Rt1, Boston post road....

Before there were steam engines... NE Corridor

Goods were shipped around NJ via Rivers and canals... Delaware Raritan or D&R Canal...

NJ is cut in half by a 30+ mile canal between Trenton (capitol) and New Brunswick by the D&R...

Dragged on Barges, pulled by mules...

Some of the canals are still in place...  (convenient and large modern water storage facility...)

The mule paths make great running trails and bicycle roads... and go past a few of NJ’s airports...

The mule paths are part of a park system and are experiencing a sort of TFR... temporarily closed for Covid.

 

Where this is going....

With all the deep cuts in oil production.... mentioned above...   

The usage cuts due to Covid are even deeper...

The cost of a barrel of West TX Intermediates has gone below $20 per barrel again, post opec+ production cuts...

Generally... car gas, 100LL, and other fuels is going to be low for another month...

Good times lie ahead...

Just need to be able to test for Covid, develop a vaccine for Covid, do something with Covid anti-bodies, or survive a bout with Covid...

Stay healthy!

PP prediction only, not an economics futurist...

Best regards,

-a-

 

It goes without saying, but I’ll say it anyway in a few short words.........a strong immune system is vastly important! 

[aviatoreb]

4 hours ago, carusoam said:

Before there were roads for trucks and cars
Before there were trains... Rt1, Boston post road....

Before there were steam engines... NE Corridor

Goods were shipped around NJ via Rivers and canals... Delaware Raritan or D&R Canal...

NJ is cut in half by a 30+ mile canal between Trenton (capitol) and New Brunswick by the D&R...

Dragged on Barges, pulled by mules...

...

PP prediction only, not an economics futurist...

Best regards,

-a-

 

Right - I grew up right near the C&O canal.  That was quite a public works project to build considering a large bit of the digging at the begining of the country was by back breaking shovels and not back hoes.

Meanwhile - now the fuel at the nearest bargain airport is down again, now to $2.62 at KRME.  I can't even believe it.

Anthony - can we call you a futurist when you are talking about mules and canals?

E

Edited April 16, 2020 by aviatoreb