Par4QC Venezuela has gas at a whopping 7 cents/gallon. Because the 'people' own it. Not the country or some corporation(s).

That’s $3 a barrel for exploration, production, refining, distribution, and retailing. The true costs of those in Venezuela probably add up to $40. If the people own it, the people are losing money.

    Little bit of a shock yesterday. Filled up my tank on the way to the airport, $6.49 in SoCal. Flew to N. Carolina, $3.49. I should have brought my car here.

    Walterjn

    No we are not. We bend to the knee of the Saudi’s for oil. You know the same people that back the LIV tour that most here are up in arms about.

      Sneakylong
      Already $.20 higher in Western Pa. since last week...The cut back by the Saudi's is going to be 2.5 million barrels per day...That will be significant in terms of our price at the pump...The 10 million additional barrels from the Strategic Oil Reserves just announced will used up in 5 days or less and have zero effect on prices...

        propman The shit head in Russia ain't helping matters either.

        I wonder how much longer he'll be tolerated.

            sdandrea1 the longer he is breathing, the more treacherous the world may be. He is the cream of scum.

              Sneakylong I heard an economist say it could be ~ .20 cents higher.

              That person needs a new abacus! Already +.60 here.

              And that "U.S. average" is the stupidest thing anyone could ever put on the news. Who TH is driving around all 50 states, in order to enjoy "the average"?? I drive in 2 some weeks, which is probably 1 more than the majority. I really do not care what the price is in CA or VA.
              I'd like to know why the huge discrepancy from my state to the others, that can sometimes be $1/gal., or more. Just across the bridge even! Taxes don't make up all that difference in prices.

                  10/6/2022 in Los Angeles!!

                  "The U.S. produces 18.8 million barrels of oil per day but consumes slightly more - 20.5 million barrels per day."

                  "Since 2018, however, the United States has been the largest producer of oil and gas in the world and a net exporter - the country exports more than it imports."

                  Even an idiot like me can figure out how to keep gas prices down in the U.S..

                    Not surprised about that price in LA.

                    Par4QC What we don’t know is how much of that production would become unprofitable if you forced the per barrel price down by $30-40-50? The answer is, a fair bit of it. Then we’re back to needing cheap Saudi oil.

                    We could cut the price that farmers get paid for corn to $1 a bushel. After we got over the initial joy of cheap food, we’d be starving.

                    This is how communist countries have actually done it.

                        Par4QC I'd like to know why the huge discrepancy from my state to the others

                        It's because there's humans controlling it in a free enterprise country. Damn those humans!

                        • DonM replied to this.

                            DonM I'm at $4.29, Sneakylong is at $3.29. That's not taxes, as I mentioned. Plus, where is his refinery vs. where mine is, distancewise to those stations?
                            Of course their delivery is cheaper, their damn gas is cheaper for hauling!!😄

                                DonM What we don’t know is how much of that production would become unprofitable if you forced the per barrel price down by $30-40-50?

                                Thing is, if we truly have been/are, the biggest producer of oil & gas in the world, why should we ever need to buy....from anyone, or worry about price? If I have to pay $5/gal., why should it be going out of the country?????

                                We do not need to worry about the 'price per barrel' if everything is being done here, on our soil. If it is $50 elsewhere and we are $80, why should it matter? OUR price for gas would have nothing to do with the prices in other countries. We are not going there to fill up!!

                                    Par4QC It matters what it costs to find and produce. At high prices we can be self sufficient. At low price we can’t be.