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Fuel prices

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On 14/03/2020 at 16:16, gazjon5 said:

$0.81 Canadian here at the minute, dropped from around 0.97

i payed $0.98 for diesel yesterday bud and gas was $0.96....

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16 hours ago, tillylamp said:

i payed $0.98 for diesel yesterday bud and gas was $0.96....

Ours had dropped to $0.749 CAD yesterday Tilly, crazy times, r u still on the island?

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Mate in the know says Russia have pulled out of whatever they are part of .This has caused a massive knock on effect that will hopefully see a decent fall in fuel prices .

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1 hour ago, foxdropper said:

Mate in the know says Russia have pulled out of whatever they are part of .This has caused a massive knock on effect that will hopefully see a decent fall in fuel prices .

Mate, if they were giving it away at the pump you'd still be paying like 80p a litre! In the current climate there will be next to no investment going on as all operators focus on short term survival and then the price will sky rocket as there is a supply bottleneck. So it can't go any lower, this current price is unsustainable and only come about because of a political battle between OPEC and Russia. Theres a bit more to it than your mate says, not all Russia's fault but yeah that's the bottom line.

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1 hour ago, Born Hunter said:

Mate, if they were giving it away at the pump you'd still be paying like 80p a litre! In the current climate there will be next to no investment going on as all operators focus on short term survival and then the price will sky rocket as there is a supply bottleneck. So it can't go any lower, this current price is unsustainable and only come about because of a political battle between OPEC and Russia. Theres a bit more to it than your mate says, not all Russia's fault but yeah that's the bottom line.

None of the oil suppliers make money when it's this low, but if SA just produce more to make up shortfall, they will put a lot of producers out of buisness. Agree once demand picks up and the glut is burnt through, prices will skyrocket. It may be a while yet though and cheap fuel will be no use if most people are out of jobs....

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8 minutes ago, gazjon5 said:

 

None of the oil suppliers make money when it's this low, but if SA just produce more to make up shortfall, they will put a lot of producers out of buisness. Agree once demand picks up and the glut is burnt through, prices will skyrocket. It may be a while yet though and cheap fuel will be no use if most people are out of jobs....

Haven't Aramco tried this trick before... to flatten the shale drillers? Only problem was they didn't quite realise how adaptable the shale guys were who largely reduced their operating costs meaning they could come back on line at a lower price than before.

I cant see this one being long lived though. I reckon both sides will play chicken and then renegotiate. Can't see any adaptations keeping the price down like last time. Well, I hope not! Pays the bills! LOL

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6 hours ago, Born Hunter said:

Haven't Aramco tried this trick before... to flatten the shale drillers? Only problem was they didn't quite realise how adaptable the shale guys were who largely reduced their operating costs meaning they could come back on line at a lower price than before.

I cant see this one being long lived though. I reckon both sides will play chicken and then renegotiate. Can't see any adaptations keeping the price down like last time. Well, I hope not! Pays the bills! LOL

Lol, agreed on it paying the bills. Who knows what to believe, or what goes on behind the scenes politically? Rumors here suggest even the usa shale has nowhere to go on cost cutting / efficiencies and it seems there is very little left to give for any producers, SA included. The Canadian production is f****d with Trudeau at the helm, and indigenous groups looking for a huge cut / payoff on every deal. At least the American producers were expanding and oil and gas investment was flying high with Trumps policies, up here in canuckstan companies are going bust daily. King flu and the associated stock market massacre are going to make this a brutal year though pretty much everywhere.

Edited by gazjon5
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Had a van on hire this last week, got a call from the rental people (Enterprise) if I wanted I could bring it back empty and they would only charge £1 a litre, Too late, already filled it at £1.09 🙄

Cheers, D.

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On 16/03/2020 at 11:53, gazjon5 said:

Ours had dropped to $0.749 CAD yesterday Tilly, crazy times, r u still on the island?

hi bud.....i've moved away from the island now at the end of last year to nova scotia....we drove from the west coast to the east coast and slept in the truck over night it took us 11 days in all at around 5600km.....it cost me in my truck $1100 so i could have done with todays fuel prices......lol lol 

mind you....say that.... i was carrying/towing over 3 tons.....lol lol

   

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