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Diesel price going down?
- Thread starter Dirtman2007
- Start date
DPete
Senior Member
Wolfcsm
Well-Known Member
Not so sure that any politician can effect these prices.
There are a lot of speculators (including pension funds) that are making a killing. For those with money in a 401k there might be some good news in with the bad.
$5.00 diesel is no good for anyone though.
Hal
T Red
Well-Known Member
I don't think there is a candidate that is worth voting for. None of them are talking about real solutions to the problem (not that I know the answer).
Wolfcsm
Well-Known Member
ADMSWELDING
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- CERTIFIED WELDER/UNION SHEETMETAL WORKER LOCAL 17
4.85/GAL HERE IN MASS.:beatsme
modelmaker
Well-Known Member
Hey guys you think you are having a rough time with prices, try ours at $10.25 a gallon and thats just petrol. diesel is nearly $11.00 a gallon.:Banghead
Dirtman2007
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- Raleigh, North Carolina
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In the last two day diesel prices have gone down 18 cents a gallon. Price is now $3.83.... what a bargain
Who would have thought that diesel would have increased over $1.00 a gallon in just over 2 months. I started this topic on 3/21 and the price was $3.83 a gallon.... now it almost 5 bucks
What the hell will it be in another 2 months?
dirt digger
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they are saying $200 a barrel soon, maybe the end of the year...which would put gas at $6 a gallon and who knows for diesel...probably $7.50
modelmaker
Well-Known Member
UK most expensive in europe $11.00 a gallon 67% of price is tax
CEwriter
Senior Member
The AP story below from last Thursday talks about why oil prices are heading toward $200 per barrel.
To watch the US Dept of Energy's weekly reports of diesel prices, check out this site: http://tonto.eia.doe.gov/oog/info/wohdp/diesel.asp
Oil surpasses $135 a barrel on new supply concerns
By PABLO GORONDI – May 22, 2008
Oil prices rose above $135 a barrel for the first time Thursday, with supply worries, global demand and an ever weakening U.S dollar driving crude futures up.
Also on Thursday, The Wall Street Journal reported that the world's top energy watchdog is preparing a sharp downward revision of its oil-supply forecast.
Light, sweet crude for July delivery rose as high as $135.09 before falling back. By the afternoon in Europe, the contract stood at $133.35 a barrel in electronic trade on the New York Mercantile Exchange, up 18 cents on Wednesday's close of $133.17.
That settlement price, up $4.19 on Tuesday's close, marked NYMEX crude's largest one-day price advance since March 26.
Meanwhile, July Brent crude on the ICE Futures exchange in London also reached a new record of $135.14 a barrel Thursday. It retreated to $132.68 by the afternoon in Europe, a loss of 2 cents on its Wednesday close.
"Simply put, this is a market you cannot afford to be short in," said U.S. analyst and trader Stephen Schork about Brent futures in his Schork Report.
With gas and oil prices setting new records nearly every day, analysts have begun to wonder what might stop prices from rising. There are technical signals in the futures market, including price differences between near-term and longer-term contracts, that crude may soon fall. But with demand for oil growing in the developing world, and little end in sight to supply problems in producing countries such as Nigeria, few analysts are willing to call an end to crude's rally.
"The sentiment in the market is very bullish at the moment," said David Moore, commodity strategist with the Commonwealth Bank of Australia in Sydney. "The U.S. dollar was weaker last night, and also the U.S. EIA report showed an unexpected decline in U.S. commercial crude oil inventories, so there's a combination of factors pushing the oil prices higher."
Crude prices breezed past $130 early Wednesday, then accelerated when the U.S. Energy Department's Energy Information Administration said U.S. crude inventories fell by more than 5 million barrels last week. Analysts had expected a modest increase.
Investment bank Goldman Sachs last week revised its oil price forecast for the second half of 2008 from $107 to $141 a barrel. But some analysts saw the new target becoming a reality much sooner.
"Futures are moving so fast that under the current volatility that goal could already be reached within the end of the week," said a report by Olivier Jakob of Petromatrix in Switzerland.
Some analysts say crude has been boosted in recent days by especially strong demand for diesel in China, where power plants in some areas are running desperately short of coal.
The Wall Street Journal reported Thursday that the Paris-based International Energy Agency is in the middle of its first attempt to comprehensively assess the condition of the world's top 400 oil fields.
For years the IEA has predicted that supplies of crude and other liquid fuels will arc gently upward to keep pace with rising demand, topping 116 million barrels a day by 2030, up from around 87 million barrels a day currently.
The agency is now concerned that aging oil fields and diminished investment mean that companies could struggle to surpass 100 million barrels a day in production over the next two decades, the paper reported.
That view has been echoed by many analysts.
"The market is really structurally tight ... oil demand is not growing that fast but supply is constrained," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore.
In the U.S. Energy Information Administration report, gasoline inventories also fell, which took the market by surprise. Inventories of distillates, which include heating oil and diesel fuel, rose less than analysts surveyed by Platts had expected.
While the dollar gained slightly against the euro and the Japanese yen from overnight levels, it fell against the British pound and showed a new downward momentum.
The 15-nation euro bought $1.5765 in morning European trading, down from $1.5780 in late New York trading Wednesday.
The British pound bought $1.9786, up from $1.9689 late Wednesday. The dollar declined to 103.25 Japanese yen from 104.17 yen.
Investors see hard commodities such as oil as a hedge against inflation and a weak dollar and pour into the crude futures market when the greenback falls. A weak dollar also makes oil less expensive to buyers dealing in other currencies.
Many investors believe the dollar's protracted decline over the past year has been the most significant factor behind oil's rise from about $66 a barrel a year ago.
In other Nymex trading, heating oil futures rose 9.80 cents to $4.0064 a gallon while gasoline prices added 2.85 cents to $3.4250 a gallon. Natural gas futures rose 7 cents to $11.710 per 1,000 cubic feet.
AP Business Writer Thomas Hogue in Bangkok, Thailand, contributed to this report.
To watch the US Dept of Energy's weekly reports of diesel prices, check out this site: http://tonto.eia.doe.gov/oog/info/wohdp/diesel.asp
Oil surpasses $135 a barrel on new supply concerns
By PABLO GORONDI – May 22, 2008
Oil prices rose above $135 a barrel for the first time Thursday, with supply worries, global demand and an ever weakening U.S dollar driving crude futures up.
Also on Thursday, The Wall Street Journal reported that the world's top energy watchdog is preparing a sharp downward revision of its oil-supply forecast.
Light, sweet crude for July delivery rose as high as $135.09 before falling back. By the afternoon in Europe, the contract stood at $133.35 a barrel in electronic trade on the New York Mercantile Exchange, up 18 cents on Wednesday's close of $133.17.
That settlement price, up $4.19 on Tuesday's close, marked NYMEX crude's largest one-day price advance since March 26.
Meanwhile, July Brent crude on the ICE Futures exchange in London also reached a new record of $135.14 a barrel Thursday. It retreated to $132.68 by the afternoon in Europe, a loss of 2 cents on its Wednesday close.
"Simply put, this is a market you cannot afford to be short in," said U.S. analyst and trader Stephen Schork about Brent futures in his Schork Report.
With gas and oil prices setting new records nearly every day, analysts have begun to wonder what might stop prices from rising. There are technical signals in the futures market, including price differences between near-term and longer-term contracts, that crude may soon fall. But with demand for oil growing in the developing world, and little end in sight to supply problems in producing countries such as Nigeria, few analysts are willing to call an end to crude's rally.
"The sentiment in the market is very bullish at the moment," said David Moore, commodity strategist with the Commonwealth Bank of Australia in Sydney. "The U.S. dollar was weaker last night, and also the U.S. EIA report showed an unexpected decline in U.S. commercial crude oil inventories, so there's a combination of factors pushing the oil prices higher."
Crude prices breezed past $130 early Wednesday, then accelerated when the U.S. Energy Department's Energy Information Administration said U.S. crude inventories fell by more than 5 million barrels last week. Analysts had expected a modest increase.
Investment bank Goldman Sachs last week revised its oil price forecast for the second half of 2008 from $107 to $141 a barrel. But some analysts saw the new target becoming a reality much sooner.
"Futures are moving so fast that under the current volatility that goal could already be reached within the end of the week," said a report by Olivier Jakob of Petromatrix in Switzerland.
Some analysts say crude has been boosted in recent days by especially strong demand for diesel in China, where power plants in some areas are running desperately short of coal.
The Wall Street Journal reported Thursday that the Paris-based International Energy Agency is in the middle of its first attempt to comprehensively assess the condition of the world's top 400 oil fields.
For years the IEA has predicted that supplies of crude and other liquid fuels will arc gently upward to keep pace with rising demand, topping 116 million barrels a day by 2030, up from around 87 million barrels a day currently.
The agency is now concerned that aging oil fields and diminished investment mean that companies could struggle to surpass 100 million barrels a day in production over the next two decades, the paper reported.
That view has been echoed by many analysts.
"The market is really structurally tight ... oil demand is not growing that fast but supply is constrained," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore.
In the U.S. Energy Information Administration report, gasoline inventories also fell, which took the market by surprise. Inventories of distillates, which include heating oil and diesel fuel, rose less than analysts surveyed by Platts had expected.
While the dollar gained slightly against the euro and the Japanese yen from overnight levels, it fell against the British pound and showed a new downward momentum.
The 15-nation euro bought $1.5765 in morning European trading, down from $1.5780 in late New York trading Wednesday.
The British pound bought $1.9786, up from $1.9689 late Wednesday. The dollar declined to 103.25 Japanese yen from 104.17 yen.
Investors see hard commodities such as oil as a hedge against inflation and a weak dollar and pour into the crude futures market when the greenback falls. A weak dollar also makes oil less expensive to buyers dealing in other currencies.
Many investors believe the dollar's protracted decline over the past year has been the most significant factor behind oil's rise from about $66 a barrel a year ago.
In other Nymex trading, heating oil futures rose 9.80 cents to $4.0064 a gallon while gasoline prices added 2.85 cents to $3.4250 a gallon. Natural gas futures rose 7 cents to $11.710 per 1,000 cubic feet.
AP Business Writer Thomas Hogue in Bangkok, Thailand, contributed to this report.
Talk about squising us..
You are right about the most horrible diesel price in the world.
Now it is around 13-14 kr pr litre for road fuel.
With todays $ thats around 2,80-2,90$ pr litre.
Off road is around 10-11 kr/litre. 2-2,1$ litre.
Thats 3,78*2,8=10,5$/gallon.
3,78*2=7,56$/gallon.
95 unlead Gas is apr 1kr/20% cheaper.
And we are one of the real big fuel/oil/gas producers in the world....
States income from oil/gas goes into the pension fond....
Yesterday our state pension fond owned more than 1% of Europes shares.
We are owning about 1% of the worlds business shares in a month or two.
A rather big pile of money...
Fuel prices rise and the government get extra uncalculated income...
That extra income is now so much that we could have had a taxfree year this year.(departement doesnt calculate high enough)
Everybody who pays tax to Norway......
I think we should have had it like in Canada, pay check once a year!:drinkup
You are right about the most horrible diesel price in the world.
Now it is around 13-14 kr pr litre for road fuel.
With todays $ thats around 2,80-2,90$ pr litre.
Off road is around 10-11 kr/litre. 2-2,1$ litre.
Thats 3,78*2,8=10,5$/gallon.
3,78*2=7,56$/gallon.
95 unlead Gas is apr 1kr/20% cheaper.
And we are one of the real big fuel/oil/gas producers in the world....
States income from oil/gas goes into the pension fond....
Yesterday our state pension fond owned more than 1% of Europes shares.
We are owning about 1% of the worlds business shares in a month or two.
A rather big pile of money...
Fuel prices rise and the government get extra uncalculated income...
That extra income is now so much that we could have had a taxfree year this year.(departement doesnt calculate high enough)
Everybody who pays tax to Norway......
I think we should have had it like in Canada, pay check once a year!:drinkup
Last edited:
DPete
Senior Member
Dirtman2007
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- Raleigh, North Carolina
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- Heavy Equipment Operator
That rediculous
Diesel is $4.69-$4.79 around here 2 weeks about it dropped down to $4.32 for about 3 days a US fleet Fuels.
CM1995
Administrator
- Joined
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- 13,392
- Location
- Alabama
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- Running what I brung and taking what I win
States income from oil/gas goes into the pension fond....
Yesterday our state pension fond owned more than 1% of Europes shares.
We are owning about 1% of the worlds business shares in a month or two.
A rather big pile of money...
Fuel prices rise and the government get extra uncalculated income...
That extra income is now so much that we could have had a taxfree year this year.(departement doesnt calculate high enough)
Everybody who pays tax to Norway......
And that is the main reason why we are paying so much at the pump. There is so much money being put into the oil futures around the world that it is driving the price sky high.
On-road Birmingham, AL $4.69
pushkid84
Well-Known Member
i currently work in the second most largest oil producing country in the world and fuel is dirt cheap here!! there are many things that are causing the outrageous fuel price. i attribute most of it to two things
1.) lack of refineries in the states, we sale our crude to these people and then they sale it back to us in the refined stae for the outrageous prices.
2.) oil futures all these paper pshing D BAGS on wall street see that the country needs oil to run and they estimate that demand will rise therefore the price raises.
there is a light at the end of the tunnel though. since the prices have become so high the demand is decreasing which means the price is going to decreas and another positive is that opec is geting super bent out of shape at the speculators on wall street because the the estimations that they made are not meeting the urrent demand. so hopefully for us this will be the strw that breaks the camels back. sccording to some speculators fuel is supposed to drop 50. cents by the end of the summer and then a little more through the winter, and this downward trend is not going to last much longer the dollor is getting stronger by the day. keep your heads up and some iron in the dirt. good luck to you all
1.) lack of refineries in the states, we sale our crude to these people and then they sale it back to us in the refined stae for the outrageous prices.
2.) oil futures all these paper pshing D BAGS on wall street see that the country needs oil to run and they estimate that demand will rise therefore the price raises.
there is a light at the end of the tunnel though. since the prices have become so high the demand is decreasing which means the price is going to decreas and another positive is that opec is geting super bent out of shape at the speculators on wall street because the the estimations that they made are not meeting the urrent demand. so hopefully for us this will be the strw that breaks the camels back. sccording to some speculators fuel is supposed to drop 50. cents by the end of the summer and then a little more through the winter, and this downward trend is not going to last much longer the dollor is getting stronger by the day. keep your heads up and some iron in the dirt. good luck to you all
Dirtman2007
Senior Member
- Joined
- Sep 30, 2007
- Messages
- 1,202
- Location
- Raleigh, North Carolina
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- Heavy Equipment Operator
Alright lets get some fuel price updates.
Today on road diesel was $3.98
Off road was $3.69
Regular gas was $3.65
All prices from the US Fleet fuels Stations. (the ones where there's just the pumps)
Diesel prices at all the regular stations are still around $4.49- 4.59. Somebodys getting rich from making $0.60 a gallon for diesel.
Today on road diesel was $3.98
Off road was $3.69
Regular gas was $3.65
All prices from the US Fleet fuels Stations. (the ones where there's just the pumps)
Diesel prices at all the regular stations are still around $4.49- 4.59. Somebodys getting rich from making $0.60 a gallon for diesel.
Last edited:
CEwriter
Senior Member
Here's a good place to review the Dept. of Energy's current data on petroleum pricing: http://tonto.eia.doe.gov/oog/info/wohdp/diesel.asp
This page shows the weekly retail price for on-highway diesel, but if you click "Petroleum" in the breadcrumbs at the top of the page you get an index of reports that will take you to an awful lot of options: weekly retail gasoline, spot prices, crude-oil pricing, lots of good stuff.
Best,
Larry
This page shows the weekly retail price for on-highway diesel, but if you click "Petroleum" in the breadcrumbs at the top of the page you get an index of reports that will take you to an awful lot of options: weekly retail gasoline, spot prices, crude-oil pricing, lots of good stuff.
Best,
Larry