latest gas prices

[Assembler]

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.

Was the 'Gas tax' originally made by an emergency?
Will other States follow now?

 

[Carl-NC]

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?

Regulations are the minor issue here. The bottom line is, there is no incentive for a Big Oil company to build out more refinery capacity. We have enough capacity now to meet demand; it's just that there is no surplus capacity, and in the law of supply and demand that's exactly where they want to operate: maximum profits without the pressure to build more capacity. Besides that, motorists are shifting toward EVs so the demand is expected to drop over time. And you sure don't want to be building more capacity as demand is dropping.

The regulation argument is a red herring. Regulations are a necessary double-edged sword: sure, they make things more expensive, but they also keep Big Companies honest. Without them, companies will take the cheapest route to (their) success, which means taxpayers foot the clean-up bill, every single time. Breathe in the summer Beijing air, or drink the Ganges River water if you want to get the full effects of deregulation. Even with regulations in full effect, it's still full-on NIMBY (regardless of your tilt) when it comes to refineries.

The refinery being funded by India is being built in Texas, not India. No word on whether they'll be allowed to apply the India Clean Air and Water Act (see Ganges River above), or whether they will have to follow US regulations.

 

[Assembler]

Regulations are the minor issue here. The bottom line is, there is no incentive for a Big Oil company to build out more refinery capacity. We have enough capacity now to meet demand; it's just that there is no surplus capacity, and in the law of supply and demand that's exactly where they want to operate: maximum profits without the pressure to build more capacity. Besides that, motorists are shifting toward EVs so the demand is expected to drop over time. And you sure don't want to be building more capacity as demand is dropping.

The regulation argument is a red herring. Regulations are a necessary double-edged sword: sure, they make things more expensive, but they also keep Big Companies honest. Without them, companies will take the cheapest route to (their) success, which means taxpayers foot the clean-up bill, every single time. Breathe in the summer Beijing air, or drink the Ganges River water if you want to get the full effects of deregulation. Even with regulations in full effect, it's still full-on NIMBY (regardless of your tilt) when it comes to refineries.

The refinery being funded by India is being built in Texas, not India. No word on whether they'll be allowed to apply the India Clean Air and Water Act (see Ganges River above), or whether they will have to follow US regulations.

There is little to no incentive to build if the regulations dictate what type of refinery can be built for future type of production at a given State construction.

There is built in regulations, artificial incentives for pushing EVs powered by generators with different fuels.

 

[Treasure_Hunter]

Without getting political, there has been a war on Oil industry for years, regulations, killing or canceling long distance pipelines, 12 states passed laws restricting the amount of gas cars that can be sold, with a target of ending new gas-only passenger vehicle sales by 2035.

Now, if I'm running an oil company, and I see a war being waged against the very industry I've invested billions in by almost a forth of the US states, as well as the government at times, why would I want to invest $2-3 billion in building a new refinery?

 

[Assembler]

Without getting political, there has been a war on Oil industry for years, regulations, killing or canceling long distance pipelines, 12 states passed laws restricting the amount of gas cars that can be sold, with a target of ending new gas-only passenger vehicle sales by 2035.

Now if I'm running an oil company and I see a war being waged against the very industry I've invested billions in by almost a forth of the US states, as well as the government at times, why would I want to invest $2-3 billion in building a new refinery?

A part of the war on oil is now at some States levels of legislation. The fact of ending new gas-only passenger vehicles sales by 2035 at the Federal level reflects this push or trend. The incentives for more electric powered everything is also being pushed.

Why not build a refinery for sweet crude oil overseas somewhere is a focus and bringing offline all older refinery plants here in the USA.

 

[Assembler]

Crude prices fall as EIA cuts its crude demand forecast Story by Rich Asplund • 3h •

November WTI crude oil (CLX26) closed down -1.16 (-1.30%) on Wednesday, and November RBOB gasoline (RBX26) closed down -0.0390 (-1.19%).

Crude oil and gasoline prices erased an early rally on Wednesday and settled lower on signs of weakening global energy demand after the EIA cut its 2026 global crude demand forecast. Crude oil and gasoline prices also came under pressure on a mixed EIA inventory report, which showed US crude production rose to a record high and gasoline supplies unexpectedly increased.

https://www.msn.com/en-us/money/eco...S&cvid=6ac6c814a49f41d59ede033afe6911dd&ei=63

 

[Assembler]

Anyone burn red dye diesel?
Red dye diesel is exempt from federal excise taxes because it is intended for farm equipment and other off-road uses.

 

[newnan man]

Anyone burn red dye diesel?
Red dye diesel is exempt from federal excise taxes because it is intended for farm equipment and other off-road uses.

My company (retired) at any given time had 20 + forklifts going on various jobs. We had a few truck drivers with diesel tanks that drove to the jobs and fueled the lifts. They used the Red dye bypassing the road tax. Much cheaper.

 

[pepperj]

 

[pepperj]

Anyone burn red dye diesel?
Red dye diesel is exempt from federal excise taxes because it is intended for farm equipment and other off-road uses.

Last yr I filled up with dyed diesel $1.016 a liter. Earlier this summer I paid $1.61.

Here's a little tip. Put the dyed in clear plastic jugs and set them in the sun.
Under 2 weeks it's clear again.
I know a few farmers that it that way.

 

[pepperj]

Anyone burn red dye diesel?
Red dye diesel is exempt from federal excise taxes because it is intended for farm equipment and other off-road uses.

 

[Assembler]

White House is weighing a federal gas tax suspension as pump prices hover near record highs — an idea with a track record of stalling in Congress.

The federal tax is 18.4 cents per gallon on gasoline and 24.4 cents per gallon on diesel, according to the PolitiFact report carried by WTAE. Suspending it would put a small dent in pump prices, but it would also drain revenue that funds federal highway projects — and such a suspension has never actually been implemented at the federal level, per that reporting.

 

[Treasure_Hunter]

Gas at local Sams $3.69,
Local station $3.83...
Diesel is $5.83-$5.95

 

[Assembler]

Diesel fuel may just be starting to go down in price. We shall see.
Regular gas is now about $4.33 a gallon here on a dropping trend.

 

[jeff of pa]

Looks like $4.299 up town in tower city pa

ABRAMS In Pine Grove Is Probably ,10 cents Cheaper Paying Cash
However With The Price of Ohers in $4,399

 

[newnan man]

$3.75 today Indialantic, Florida.

 

[AU Seeker]

Diesel fuel may just be starting to go down in price. We shall see.
Regular gas is now about $4.33 a gallon here on a dropping trend.

Since you don't have your location listed...where is "here"?

 

[Assembler]

Since you don't have your location listed...where is "here"?

Salem to Portland Oregon area.

 

[sibbley]

I paid $4.17 per gallon for regular unleaded yesterday. Lowest it's been in a couple months in Northampton County PA. My guess is PA is not generating enough tax from fuel sales. Shapiro is talking some type of milage tax now on top of fuel tax. If this goes through, sounds like we'll be paying for every mile we drive. I'm not clear on if this will be every car, or just on the EV's.

 

[jeff of pa]

I paid $4.17 per gallon for regular unleaded yesterday. Lowest it's been in a couple months in Northampton County PA. My guess is PA is not generating enough tax from fuel sales. Shapiro is talking some type of milage tax now on top of fuel tax. If this goes through, sounds like we'll be paying for every mile we drive. I'm not clear on if this will be every car, or just on the EV's.

Tuesdays Coming up .