What's the price of gas where you live?
aren't even reaping the benefits of this yet, they
buy fuel 3-6 months in advance on contracts.
Next summer they'll be buying for what we're paying
now.
get below $1.50?
I think it's actually a good time because I would rather have roads taken care of than speculators. Final pump prices have a limit for acceptance and better for roads done first than extra profits not benefiting society. 1989 was the last time the federal tax was changed IIRC.Quote: mickeycrimmGreat site. Thanks, coilman. I'm now seeing where some states, Virginia, Maryland, Pennsylvania are now considering raising the gas tax. Greedy politicians.
That includes my 5 cent Member Discount.
Quote: kewljThe price of gas where I live? A couple of chili dogs. :)
How do you pay those at the pump, do they
have a special door to slide them in to?
Quote: AxelWolfIs there anyway to lock yourself in a a certain price on gas? Pre pay in bulk maybe.
Yup, buy an airline. The airlines do that, they are
paying last summers prices. In the spring they
will be paying the cheap prices we're paying
now, no matter what the cost is then. Can
your Pinto compete with that?
Buy CL or RBOB futures.Quote: AxelWolfIs there anyway to lock yourself in a a certain price on gas? Pre pay in bulk maybe. Anyway to profit if you believe gas prices will go up? futures or hedging?
Explain more please.Quote: teddysBuy CL or RBOB futures.
CL is crude oil and RBOB is refined gasoline. They are traded on the NYMEX exchange as futures for delivery in X months ahead. You can buy contracts in the future which is an obligation to deliver the commodity at the agreed upon price. But nobody ever delivers, they just cash out their contracts. If you buy a contract of CL at $55 six months into the future (not sure what it is at now), and the spot price rises to whatever, you will be able to profit on the difference in price between your contract price and the spot price.Quote: AxelWolfExplain more please.
There are also funds that track the commodity indexes which are easier to buy and sell than the actual contracts (you'd need to talk to a commodities broker for that).
Quote: teddysThere are also funds that track the commodity indexes which are easier to buy and sell than the actual contracts (you'd need to talk to a commodities broker for that).
Just set up a brokerage account, no need to talk to anyone. For example, go to the T Rowe Price site and follow the prompts to set up a brokerage account. Then google up your funds; to play it safe, check that fund out with Morningstar.com. This is how I lost my shirt with the PowerShares DB Oil Fund (ETF) [*grin* - it was not a lot of money]
I'm sure I googled something like this:
https://www.google.com/?gws_rd=ssl#q=oil+etf
Thanks sounds interesting.Quote: teddysCL is crude oil and RBOB is refined gasoline. They are traded on the NYMEX exchange as futures for delivery in X months ahead. You can buy contracts in the future which is an obligation to deliver the commodity at the agreed upon price. But nobody ever delivers, they just cash out their contracts. If you buy a contract of CL at $55 six months into the future (not sure what it is at now), and the spot price rises to whatever, you will be able to profit on the difference in price between your contract price and the spot price.
There are also funds that track the commodity indexes which are easier to buy and sell than the actual contracts (you'd need to talk to a commodities broker for that).
How long do you have to or get to keep them? or can you decide that? Do you have to buy back the contracts at a certain price?
My sister and her husband own a small trucking company 3 or 4 trucks. I'm wondering if there's an opportunity there somehow.
Im not trying to make a investment necessarily, I'm just betting gas prices will go up again (I assume most people believe they will also it seems very likely at some point) I would like to try to profit from it.
I used to invest in stocks and did ok, but slowly I stopped because the bubble bursting and I moved on, I just never got back into it(probably a good thing). But I really enjoyed it, I would get up early when the market opened, just to watch it. I enjoyed talking about stocks with friends.
before I bought anything, I was sick of watching AOL go up every day. So I got an E-Trade acct and started with $4000, I put most of it in AOL. I tripled my money and locked it up. I started buying and selling small amounts of tech and dot.com. I was up 30k at one time, but only ended up +15k. obviously just luck anyone could have randomly picked a .com or technology stock and it went up.
I THINK I can usually can tell when particular products will do well by my personal interest in a product, I know that doesn't necessarily mean the company will.
I can't say I know enough about stocks to make money or that I know what I'm doing. Its just fun, I had a fair 2014 and I'm interested in starting again. I can call it entertainment gambling. Any advice is appreciated.
NanoTech here I come. Perhaps Zcore wants to go in with me.
Quote: AxelWolfMy sister and her husband own a small trucking company 3 or 4 trucks. I'm wondering if there's an opportunity there somehow.
An acquaintance of mine owns a small trucking company, but somewhat larger than 3-4 trucks.
At the 3-4 truck scale, there's potential... but it requires some infrastructure.
I know my acquaintance has a tanker trailer of diesel dropped every 2-3 days. (Their yard has an underground fuel tank, fuel pumps, the whole lot.)
With just a handful of trucks, you might be able to buy when the prices are low. A 7500 gallon tanker load will probably be 50 fill ups on a typical semi. It might be possible to buy the fuel separate from the road tax as well.
Of course, if you're doing long haul stuff (rather than day runs), you have to refuel away from the yard, which cuts into your cost savings.
I haven't seen diesel prices fall the same way I've seen gasoline prices fall.
As far as doing this on a personal scale, you could buy an above ground tank and stand (typically around 300 gallons), figure out how much trouble you're going to get in for having it on your property, figure out how to get deliveries of fuel to it, and then buy when it's cheap (or, not buy a whole tankful when it's expensive - just fill your vehicle tanks).
Quote: DieterAn acquaintance of mine owns a small trucking company, but somewhat larger than 3-4 trucks.
At the 3-4 truck scale, there's potential... but it requires some infrastructure.
I know my acquaintance has a tanker trailer of diesel dropped every 2-3 days. (Their yard has an underground fuel tank, fuel pumps, the whole lot.)
With just a handful of trucks, you might be able to buy when the prices are low. A 7500 gallon tanker load will probably be 50 fill ups on a typical semi. It might be possible to buy the fuel separate from the road tax as well.
Of course, if you're doing long haul stuff (rather than day runs), you have to refuel away from the yard, which cuts into your cost savings.
I haven't seen diesel prices fall the same way I've seen gasoline prices fall.
As far as doing this on a personal scale, you could buy an above ground tank and stand (typically around 300 gallons), figure out how much trouble you're going to get in for having it on your property, figure out how to get deliveries of fuel to it, and then buy when it's cheap (or, not buy a whole tankful when it's expensive - just fill your vehicle tanks).
I thought about An above ground tank, it's Probably not feasible in Vegas, I assume there's laws against it without a permit.
I have a father who lives in washington hes a retired mechanic. He owns land in the country near Lucky Eagle casino.
I asked him about A big tank. I thought He said something about water might accumulated unless you had an expensive set up. He also said it would be a target for kids to steal the gas at night, especially if there was a some kind of emergency.
If someone knocks on his door at 2 AM, he brings a gun to answer it, I've seen him do it. Interesting enough, a few years back, it was a teen who knocked on the door, he happen to run out of gas in front of my dads driveway gate(400 feet from the house). My dad gave me the gun and said go get the gas can follow and help him because he didn't want the guy hanging around sitting in his car.
Quote: AxelWolfI asked him about A big tank. I thought He said something about water might accumulated unless you had an expensive set up. He also said it would be a target for kids to steal the gas at night, especially if there was a some kind of emergency.
Oh definitely. If you have liquid fuel, it's a target for theft.
If I was going with an above-ground tank, I'd want a roof over (to keep water out of the spill containment pit), possibly some walls around it (cinder block), again to keep the weather out of the containment, and a reasonably secure way of locking up the dispenser.
It's a bit of work to keep 20 fillups on hand, just to save a few bucks. Even going cheap on the tank & containment, it's going to be $1500, and you need to have enough space to not have it next to the house.
It might behoove them (or you) to do a little hedging with diesel contracts. Take a position in low priced diesel contracts for a year or two into the future. If the price goes up, you profit from the contracts (essentially locking in these low prices). If the price goes down or stays the same, hey, you're paying less for gas (but you lose out on the contract).Quote: AxelWolfThanks sounds interesting.
How long do you have to or get to keep them? or can you decide that? Do you have to buy back the contracts at a certain price?
My sister and her husband own a small trucking company 3 or 4 trucks. I'm wondering if there's an opportunity there somehow.
Quote: teddysIt might behoove them (or you) to do a little hedging with diesel contracts. Take a position in low priced diesel contracts for a year or two into the future. If the price goes up, you profit from the contracts (essentially locking in these low prices). If the price goes down or stays the same, hey, you're paying less for gas (but you lose out on the contract).
IF you think the price is going to rebound that means the price of oil has to head up. The higher the price of a barrel of oil goes the busier the service companies that do the fracing do the coil tubing work do the cementing will be. Prices on these companies right now range from 33% to 50% off their highs from last year. Some might even be takeover targets at current prices. Buying stock in these companies the downside right now is low due to the recent huge drop in prices but the upside could easily be double or triple your money
look at these companies graphs for price the last 12 months
Calfrac, Trican Weatheford and oh so many more
That includes my 5 cent Member Discount.
then overnight it jumped to 2.09 and
is back at 1.72 now.
Quote: EvenBobIt was 1.62 here a few weeks ago,
then overnight it jumped to 2.09 and
is back at 1.72 now.
Still $2.39 in the high-tax state that we are.
Drilling budgets seem to be being affected for next year at this point. Our abstracting business is falling off. I really don't want to have to find a regular job again!
Quote: AZDuffmanStill $2.39 in the high-tax state that we are.
Drilling budgets seem to be being affected for next year at this point. Our abstracting business is falling off. I really don't want to have to find a regular job again!
Layoffs have started out in Alberta already on the service side .... one fella I work with got laidoff yesterday....things are SO SLOW right now when January is usually one of the busy months of the year ,,,, with oil companies just starting into the new years budgets
Quote: coilmanLayoffs have started out in Alberta already on the service side .... one fella I work with got laidoff yesterday....things are SO SLOW right now when January is usually one of the busy months of the year ,,,, with oil companies just starting into the new years budgets
I am hearing layoffs in several places around the industry. Landman work has a little less variance than the roustabouts and roughnecks in the field. Hopefully they get those export terminals up and running.
$4.39 if you buy 400gal or more.
Quote: AZDuffmanI am hearing layoffs in several places around the industry. Landman work has a little less variance than the roustabouts and roughnecks in the field. Hopefully they get those export terminals up and running.
basically half the DRILLING RIGS are working..... I worked after they finish so guess what we are dead slow now too
http://www.riglocator.ca/
We are down to three rigs. It is SLOW. But at least I still have a job!Quote: coilmanbasically half the DRILLING RIGS are working..... I worked after they finish so guess what we are dead slow now too
http://www.riglocator.ca/
On the other hand, about a year ago I said to my wife that I think 2 a gallon is reasonable price. Now that we are pretty close to it I am satisfied and would be ok if they stayed there forever.
Quote: Ibeatyouraces$2.60 in a couple of locations near me.
Atlanta report = about the same.
As an interesting side note :
There is/was a local dealer promising $1/gal forever, with stipulations.
That being you had to marry his 40ish sister and get her off his back.
I attempted to do the math. Marry sister, hit the road in the old Camry, carry ten 5 gal cans of gas w/me, 50 gal plus a full tank.
I could go a long way before having to come back for a refill, have a bunch of fun, see some of those joints I haven't seen before.
But I'm married already, and that polygamy thing is going to take another couple years.
And you have to figure in at least one, maybe two, divorce proceedings and they are not cheap, I know.
Isn't an AP play, I've passed on it as an option.
Quote: teddysPump prices are still higher than they should be. The crack spread (difference in price between a barrel of crude and a barrel of refined product) is the highest it's been in a while. Marathon Petroleum (big refiner and gas station owner in the Midwest) showed income of $1.32 billion this quarter over $362 million last year. They are swimming in profits -- the downstream sector's riding high right now.
The Feds make 18.4 cents per gallon of every gallon of gas sold in the US. They don't have to get permits to get it, buy equipment to get it, drill for it, refine it and ship it, pay and insure their employees. They just say that this is ours. Now I ask you, who is making more money off of oil? The oil companies or the government and is there something wrong with that picture?
Quote: Gabes22The Feds make 18.4 cents per gallon of every gallon of gas sold in the US. They don't have to get permits to get it, buy equipment to get it, drill for it, refine it and ship it, pay and insure their employees. They just say that this is ours. Now I ask you, who is making more money off of oil? The oil companies or the government and is there something wrong with that picture?
The fed tax pays for the US highway and interstate system, including rest areas, bridges, overpasses, fencing, reinforced cliffs, maintenance, new interchanges and expansion. Not a cheap endeavor, and I would call it a bargain. Less than 1 cent per mile for nearly every car on the road today? Best deal a penny can buy these days.
Quote: neverquitwhenupIts 1.77 in London, OH.
I'm so jealous
Quote: tommyngo215$3.59/gallon for 91 I pumped this morning at a Chevron in Summerlin 89117. Yesterday I was in California and it's almost 5 bucks/gallon I had to pump omg it was so painful
I recently saw this article explaining Cali gas prices. Refineries are seizing the cheap oil supply without lowering their output prices, virtually doubling their margin per gallon of gas. Just see midstream stocks like Tesoro and Valero over the past year, +50% earnings per share. I'm not sure how to respond as a consumer in protest.
