As a proud owner of a 2025 Hyundai Ioniq6, have not missed pumping gas for about a year. I’ll miss it even less real soon it seems.
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TTF is up 35% today. Yikes.
All my gas companies had a good day
Saw this today…more long term
Oil decline rate + growing oil demand = growing oil supply gap equal to 5 Saudi Arabia over next decade.
Chevron "Oil and gas demand is at an all-time high. It will set another record this year. And it’s expected to do so again next year. And again, the year after that. And beyond. Due simply to field decline, there’s a need for significant investment to close the oil supply gap – equivalent to five Saudi Arabias – that would otherwise appear over just the next decade."
Eye-balling the graph, seems to infer a global oil decline rate of ~5% per year IF oil demand grows 1 mmb/d per year
And this…
Chevron faces operational challenges with the shutdown of its Leviathan gas field due to geopolitical tensions, yet its stock remains resilient with a 21.6% year-to-date increase. Analysts have raised price targets amid rising oil prices driven by conflict in the Middle East.
- Market Response: Chevron’s stock gained 1.6% despite the temporary shutdown of its Leviathan field, reflecting investor confidence amid rising oil prices.
- Expansion Plans: Chevron is pursuing opportunities in Iraq, Venezuela, and Greece, which could significantly impact its production profile and risk exposure.
Of course they are. Oil companies profits soar when oil prices soar.
For everyone else it’s sucks, money.
Brent crude trading over $80 and WTI set to open +76.
If this continues then this threads theme is spot on. We’ll be in a recession soon as the avg driver it’s going to have to spend an extra $40 to $60 a month on gas. That’s 40 to $60 that would normally have been spent on other things and turned over multiple times in the economy. It’s a big hit. We’ve seen the effects before many times.
DOW & S&P500 futures off another 1.4% this morning.
Yeah, up another 7% so far today.
Brent was $60 at the beginning of the year. The $20 jump could lead to .5-1% add to inflation if it sticks.
Make that -2.3% for the DOW.
EVs are going to do some good business soon.
Greed just gets me.
Gas was .30/gal higher today than when I got it last week. The higher priced barrels have not made it through to the stations yet, so no reason for increase yet.
I noticed that today as well.
The next tanker truck will cost more, the station is trying to get ahead of it. Margins are tiny on retail gas.
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Yeah, those gas stations aren’t getting rich of the gas they are selling.
Yes the next tanker truck will cost more, not the current gas.
Then once prices of the barrels go down, they still maintain higher prices for several months.
Fine line between that and jacking up prices on lumber when you know a hurricane is in the gulf.
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Punish that behavior with your dollar - buy somewhere else
All gas stations do it, not an option to “buy somewhere else”
It’s exactly what I did this week. The place I normally buy from ‘Sparks’ jumped up $.16 so I went down the street and bought from Shell who used to be more expensive but now is about the same.
Gee why didn’t I think of that. Oh yea, I already price shop for low prices.
The ones by me were already much higher so not really a good idea. Time wise stations already charge over a $1 markup on premium gas (which they started doing during Covid) and are much higher than other places.
That is not the point but how they raise prices on a threat of oil jumps when in other areas it is not allowed in more immediate dangers as price gauging.
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I used to buy from Time Wise. They used to not charge extra for credit. The local guys who owned them sold out to Shell and now they charge like $.20 for credit like everyone else. Talk about gauging - credit prices!
I pay cash as I have seen too many pumps left active from the previous driver. Oh well, we are getting way off topic here. We will have to maybe agree Timewise is trash and should be avoided.
Back to EVs for everyone else.
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