Price of Oil US Is now negative

[Patentlaw]

To all,

The price of oil went negative today. I expect that all Viper owners should get PAID to drive their cars now (by the Federal Government) as we are in the unique position to support the country. That is all.

Plaw

[Old School]

I take 1 billion barrels please.

[ACRSNK]

Supply and demand working its magic

[quickster2]

Feel like driving across the country but locked down here in MI. Can't even hunt in KY at my property as they suspended all out of state licenses. Need a big storage tank!

[Bryan Savage]

Gonna fill my swimming pool with it.

the-gang-solves-the-gas-crisis-1.png

[Patentlaw]

Wow. The price of the longer contract supply fell 40 percent this morning. Oh man. This means the large American producers will be making nothing for an extended time. This puts pressure on their sacred dividend. This is not good at all......Milk and Water more valuable per gallon than gas......

[J TNT]

Hopefully this will make people re acces Global supply chains after this Epic Pandemic......
Can’t Imagine the Final cost of all of this...

[Steve M]

This is exactly what Russia wanted.

[ViperSRT]

The greatest concern is the viability of the US oil industry. We do not want to return to a dependency on foreign oil. I believe the federal government needs to step in and prevent mass bankruptcy, though the House may be an insurmountable hurdle.

[JonB ~ PartsRack]

Just when Im getting 2 Months to the gallon..

DAMN !

[Fatboy 18]

The price of raw Oil may be negative but you can bet it will never be at 1950s or 60s prices at the Pump!

[Patentlaw]

I found this in the south

89 cents in Kosciusko, MS. Marathon Oil. According to Gas Buddy.

Also, the cost of gas in 1955 was 29 cents. Multiplying by inflation of 9 for all of these years....that was 2.70 per gallon back then.

[USAFPILOT]

gas prices still won't come down though...just staying the same. Although, we are nowhere near the post Hurricane Ike prices in Houston. The months following that and the market crash of 08 we were seeing 6.00 a gallon if I remember correct. Today about 2.40 for premium, 1.40 for regular

[Fatboy 18]

I am useless at mathematics, but when I first started riding motorcycles in the 70s an imperial gallon was 75 pence

Sometime later the UK ditched Gallons and moved to Ltrs I honestly now have no Idea how much an Imperial gallon is to compare with your prices, But I can tell you its expensive here!



Well I don't know what it is with this website forum but if I try to type in the sterling pound sign and numbers it will not display the post?

https://www.rac.co.uk/drive/advice/fuel-watch/

[10PISTNZ]

I am useless at mathematics, but when I first started riding motorcycles in the 70s an imperial gallon was 75 pence

Sometime later the UK ditched Gallons and moved to Ltrs I honestly now have no Idea how much an Imperial gallon is to compare with your prices, But I can tell you its expensive here!



Well I don't know what it is with this website forum but if I try to type in the sterling pound sign and numbers it will not display the post?

https://www.rac.co.uk/drive/advice/fuel-watch/

4.546 liters = 1 Imp. gallon

[Photog1]

The price of raw Oil may be negative but you can bet it will never be at 1950s or 60s prices at the Pump!

That is for sure regular in central IL is still at $1.85

[serpent1of38]

My license plate gets less funny daily!

[M5toViper]

The CME is offering options on crude futures with a negative strike price. That's insane!

[quickster2]

95 cents for regular and $1:35 for premium Top Tier Costco petrol this morning in Auburn Hills, MI.

[Patentlaw]

Just wow. Michigan has a 19 cents per gallon tax! Mississippi has just over 18 cents per gallon, one of the lowest in the nation. That 1.35 rate on premium is hard to beat.....
Oh...and the federal tax is 18.4 cents. So 38 cents of that 95 cents was tax...…….

Taking it out of the ground, shipping it, refining it, shipping it again, storing and advertising it. 57.6 cents.