latest gas prices

[Treasure_Hunter]

What is the cost of processing the different crude oils and the different set ups?

Have to look it up.

 

[AU Seeker]

Brent representing oils fields produce 2.5 million barrels a year according to the internet. The contential US (including the Gulf of America) produces 13.2 million barrels a year! Wake up people

Wake up indeed...But you got it wrong, the US produces 13.6 million barrels of oil a DAY, not a year!!
13.6 million is for 2025, the 13.2 million was for 2024.

 

[Assembler]

Brent representing oils fields produce 2.5 million barrels a year according to the internet. The contential US (including the Gulf of America) produces 13.2 million barrels a year! Wake up people

With less refineries set up to process the American crude to compete with the sweet foreign oversea oil at a given barrel price. This is the real reason for less refineries now in America to process both types of oil.

America has itself to blame for the excessive regulations / overhead / red tape costs.

 

[Assembler]

Have to look it up.

It will likely be much higher than foreign sweet crude at a given barrel cost.

 

[Tesorodeoro]

With less refineries set up to process the American crude to compete with the sweet foreign oversea oil at a given barrel price. This is the real reason for less refineries now in America to process both types of oil.

America has itself to blame for the excessive regulations / overhead / red tape costs.

Agreed.

 

[Tesorodeoro]

Wake up indeed...But you got it wrong, the US produces 13.6 million barrels of oil a DAY, not a year!!
13.6 million is for 2025, the 13.2 million was for 2024.

Wow. Correction. So we certainly have a direction to point fingers. How irresponsible.

 

[Tesorodeoro]

Considering the economy of California, it seems there should be a national security project delivering oil from our own country to our own country. Coast to Coast. I know people love to hate “Cali”.

 

[russau]

This is EXACTLY why I drive ( a LOT LESS ) /share rides / and keep my vehicle in good shape! We have to do our part OR the Country will be in trouble like it is in RIGHT NOW!!!!!!!

 

[bc5391]

When you buy gas at the pump, you’re covering more than the cost of crude oil. You’re also paying for every step in the process, including refineries, wholesalers, taxes, and the markup your local gas station adds.

As of 7:30 a.m. Eastern Time today, oil is trading at $101.43 per barrel, based on the Brent benchmark

That’s $4.38 below yesterday morning’s level and about $35.50 higher than where it stood a year ago.

I traded Futures for several years. The thing with oil, if the price per barrel goes up today, the price at the pumps goes up, if the price per barrel drops today, it takes several months for the price drops at the pumps. Oil companies squeeze every cent of profits, before they give you a break.

 

[bc5391]

Considering the economy of California, it seems there should be a national security project delivering oil from our own country to our own country. Coast to Coast. I know people love to hate “Cali”.

I don't think anybody "Hates Cali", it is just the B.S. that you have to put up with there, highest Min wage, cost of housing, fuel prices. Southern Cal is the highest, at one time I was going to buy in Northern Cal, prices were reasonable around Sacramento and outlining areas at the time. Not sure of the prices now, but I'm sure it is like most of the country, sky high.

 

[newnan man]

The shale oil currently being pumped in the US is a light, tight oil and currently millions of barrels a day are recovered. We export most of it for huge oil company profits. Our US refineries are set up to refine the shit oil from the mid east when we were buying their oil, so stupidly we import that shit oil instead of changing the refinery capabilities. We need to modernized our refineries and build more. Thank your Democrats for halting that. Oil companies are to blame to as they could definitely put pressure on politicians to allow more refineries. BTW, Shell just announced that their profit per barrel almost doubled this quarter. So, there is no shortage just manipulation, greed, corruption and shit politics. Bend over Rover!

 

[doverturtle]

You just can't change refining facility capabilities. It would be so expensive that a new facility should just be built. As a chemical engineer, I had to take a class on oil refinery.

 

[Treasure_Hunter]

You just can't change refining facility capabilities. It would be so expensive that a new facility should just be built. As a chemical engineer, I had to take a class on oil refinery.

It is almost as expensive to retool it than build new one from what I have read.

Texas refineries were designed for the heaver crude such as produced in Venezuela.....

 

[Carl-NC]

Oil companies are to blame to as they could definitely put pressure on politicians to allow more refineries.

Big Oil isn't interested in building new refineries, and is actively refusing to. Huge investment, extremely long pay-back time, and it would drive down fuel prices. They prefer to keep things as they are, more profits. The only way to get new refineries is through independent efforts, like the AFR facility being funded by India.

 

[djackson7348]

Sam's club near me:
10-6-2026 --- $3.71
10-7-2026 --- $4.15
?

 

[Assembler]

Big Oil isn't interested in building new refineries, and is actively refusing to. Huge investment, extremely long pay-back time, and it would drive down fuel prices. They prefer to keep things as they are, more profits. The only way to get new refineries is through independent efforts, like the AFR facility being funded by India.

How much more regulations / red tape is there today to build a new updated refinery both at the Fed and State levels?
Is there a lower level of regulation to rebuild a new oil refinery in countries like India?

 

[newnan man]

How much more regulations / red tape is there today to build a new updated refinery both at the Fed and State levels?
Is there a lower level of regulation to rebuild a new oil refinery in countries like India?

I would bet that there is.

 

[Assembler]

I would bet that there is.

Almost anyone with open eyes would ask the same questions.
The realistic answers could go very deep. Just saying.

 

[djackson7348]

Sam's club near me:
10-6-2026 --- $3.71
10-7-2026 --- $4.15
?

As I write this, the NC General Assembly is in special session to vote to suspend the $0.41 North Carolina gas tax for a period of time. Anyone see anything strange here?
The gas price rose $0.44 cents the day the Legislature votes to lower the gas tax by $0.41 cents. No sign of price gouging here.

The consumers are likely to see the cost at the pump go up instead of down and then in a few months we will be hit with some fee or tax to make up the lost gas tax revenue. I guess buying off politicians is expensive now days and the money has to come from somewhere.

 

[candy colored clown]

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In mid central IL. reg. is $4.599 currently.