|
![]() |
#91 |
Fish are scared of me
Join Date: Nov 2001
|
|
Posts: 40,699
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#92 |
Supporter
Join Date: Sep 2000
Location: Hollywood, CA
|
|
Posts: 88,960
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#93 |
"Think BOOM!"
Join Date: Nov 2003
Location: 33.675° N 106.475° W
|
Heading down again today. $44.23 down almost 2%
|
Posts: 184,655
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#94 |
"You like to drink?"
Join Date: Jun 2006
Location: "I like to drink."
|
Diesel 2.29 in the Queen City of the Ozarks.
|
Posts: 43,549
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#95 |
sorta mod-ish
Join Date: Jan 2004
Location: KC North
|
|
Posts: 102,486
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#96 |
"Think BOOM!"
Join Date: Nov 2003
Location: 33.675° N 106.475° W
|
US Refineries Running at 10-Year High
In Wednesday’s report on the nation’s petroleum inventories, the U.S. Energy Information Administration (EIA) said that U.S. refineries were running at 96.1% of capacity in the week ended July 31. The last time the country’s refineries ran at that level was the week ending July 8, 2005, more than 10 years ago. July is a big month for oil refiners, or at least it was. In 1998, U.S. refiners ran at 100% of capacity during the week of July 10 and at more than 100% of capacity in the week before Labor Day. Following that week in 2005, it took six years for refiners to reach even 90% of capacity again. There could be a few reasons for the boost in refining. First, U.S. drivers posted in May a new all-time high for miles driven. (May is the most recent month for which data is available.) Miles driven had reached a peak in November 2007 and then stagnated for nearly eight years. The increase in miles driven is likely due mainly to lower gasoline costs, which typically encourage Americans to hit the road. As unemployment rates decline, more people are back in the cars driving to work as well. Another primary reason for the increase in refinery usage is product exports. Since late August of 2013, U.S. refiners have been exporting more than 3 million barrels a week of gasoline, diesel and other refined products. The current total is 3.74 million barrels a day of exports, based on a four-week average. Some of the export increase is due to production of lightly refined crude oil that is the nearest thing U.S. producers and refiners can send out of the country, except to locations in Canada and Mexico. Kinder Morgan operates a so-called splitter plant that separates the condensates that are produced along with crude oil into components such as naphtha, kerosene and gasoil. The components are then exported and fully refined into usable fuels once they reach their destinations. The announced earlier this week is also targeted at these light condensates. Because refined products command a higher price than crude oil, producers can take advantage of the refining spreads to boost profits for a reasonable cost. Where a new refinery to produce gasoline might cost $3 billion to $4 billion to construct from the ground up, a condensate splitter plant may cost as little as a tenth of that. Besides, as automobile mileage improves, growth in demand has slowed and that trend will continue, even if more slowly because pump prices are so low. A final reason for the boom in refining last week may be that California’s refineries are coming back online after some unscheduled repairs. California drivers have been paying nearly $3.50 a gallon recently for gas when the national average is around $2.55. One consumer advocacy group has accused California refiners of exporting gasoline in order to reduce inventories in the state and keep prices high. It is also worth noting that U.S. refiners are not the only ones who have either been taking advantage of or positioning themselves to take advantage of the higher prices paid for refined products. Saudi Arabia has a third 400,000 barrel-per-day refinery on the drawing board (it already has two that size), the United Arab Emirates is doubling the capacity of its 415,000 barrel-per-day refinery at Ruwais. Both are looking at additional exports to help boost profits while crude prices remain low. |
Posts: 184,655
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#97 | |
"You like to drink?"
Join Date: Jun 2006
Location: "I like to drink."
|
Quote:
The 2.29 Diesel was at the station on the SE corner of the Sunshine and Campbell intersection. |
|
Posts: 43,549
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#98 |
"Think BOOM!"
Join Date: Nov 2003
Location: 33.675° N 106.475° W
|
Diesel tends to be more steady than gasoline because there aren't any different blends mandated.
|
Posts: 184,655
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#99 | |
"You like to drink?"
Join Date: Jun 2006
Location: "I like to drink."
|
Quote:
And shit, it seems that it also has the benefit of being less in demand than 87 that once it hits a low it stays there for a while. |
|
Posts: 43,549
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#100 |
Supporter
Join Date: Sep 2000
Location: Hollywood, CA
|
Still $4.49 at the nearest Chevron station yet it's $3.39 at the Burbank Costco today according to Gas Buddy.
Donger, would you mind explaining why some stations can charge more than a $1.00 more than others? I realize that Coscto prices are less expensive due to yearly membership but it's only 20-30 cents more at Burbank gas stations, yet it's $4 dollars or more in Hollywood. It's less expensive in Beverly Hills than Hollywood. It's just bizarre. |
Posts: 88,960
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#101 | |
"Think BOOM!"
Join Date: Nov 2003
Location: 33.675° N 106.475° W
|
Quote:
1) Possible local taxation varies between the two. 2) It's more likely that for some bizarre California reason, people are willing to pay more in Hollywood than Burbank. I've said it before, but we have a station that is always $0.40 higher than two other stations a mile down the road. They can charge that because it's located very conveniently for all the MILFs in the neighborhood who will pay another $0.40 for the convenience. Or they simply aren't aware that their prices are high... |
|
Posts: 184,655
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#102 |
sorta mod-ish
Join Date: Jan 2004
Location: KC North
|
I'll go with the "higher population in that area" theory, either people living in Hollywood or around/touring/vacationing there as opposed to Burbank. It's my ongoing theory of why gas is more expensive in the metro KC area than it is outside of it for the first time in forever - Kansas City must have passed some population number that automatically bumps up the prices.
|
Posts: 102,486
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#103 | |
Here We Go Again
Join Date: May 2002
|
Quote:
|
|
Posts: 14,677
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#104 | |
Supporter
Join Date: Sep 2000
Location: Hollywood, CA
|
Quote:
Call it a character flaw, but I have real difficulty paying a higher price for goods and services when I'm aware they're less expensive elsewhere. I've had this conversation with my 7 year old many times, when she's asked about purchasing items. Daughter: Daddy, can we get this? Me: No, it's not on sale and it's cheaper at Coscto/Target/Amazon than here. Daughter: I feel like all you ever care about is price. Me: Someday, you will, too. |
|
Posts: 88,960
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() |
#105 |
"Think BOOM!"
Join Date: Nov 2003
Location: 33.675° N 106.475° W
|
Welp, crude closed down 79 cents, or 1.8 percent, at $43.87 today. That's a slide of 7% on the week and 26 % in the last six weeks. We could be looking at $35/barrel or lower before this stabilizes.
|
Posts: 184,655
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() |
![]() |
![]() ![]() |
|
|