Oil Prices Pass $112 Barrel, OPEC Holding Firm, Here Comes $7 Gasoline

[livingston]

Oil Prices Pass $112 Barrel, OPEC Holding Firm, Here Comes $7 Gasoline​

Everything including oil, natural gas, wheat, fertilizer is skyrocketing in price right now. Ten- and twenty-year records are being eclipsed as energy prices are soaring on the back of oil flirting with $114 a barrel. Unfortunately, here comes more inflationary pain; and everything is being blamed on the Russia-Ukraine conflict.
Toward the end of last year, we warned that fertilizer costs were going to harvest costs in 2022 (field to fork, go deep), long before Ukraine came into the picture. Unfortunately, future wheat prices reached hit $10.59 a bushel today, the highest since March 2008. Additionally, corn prices have passed their highest rate since December 2012.

It may seem like those crops are not that important. However, keep in mind that corn, wheat and soybeans represent the baseline for not only grain production in the U.S, but they are also the primary feed products for proteins: chicken, pork and beef. We are going to feel this second wave surge at the grocery store. Hopefully everyone has prepped.

Oil Prices Pass $112 Barrel, OPEC Holding Firm, Here Comes $7 Gasoline - The Last Refuge

Everything including oil, natural gas, wheat, and fertilizer is skyrocketing in price right now. Ten- and twenty-year records are being eclipsed, as energy prices are soaring on the back of oil flirting with $114 a barrel. Unfortunately, here comes more inflationary pain, and everything is...

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[GOYABEAN]

 

[Blimey]

My lumber price monitoring tells me Home Depot hit a record on OSB sheets, too. $45+ for that shit right now! Was $14.x last summer.

And wegmans is selling folgers coffee and other brands at $6.08/lb today!

BTW Biden is considering cutting off russian oil imports.

 

[livingston]

My lumber price monitoring tells me Home Depot hit a record on OSB sheets, too. $45+ for that shit right now! Was $14.x last summer.

And wegmans is selling folgers coffee and other brands at $6.08/lb today!

BTW Biden is considering cutting off russian oil imports.

What is your prediction for price at the pump in a month ?..... Outside of burning up our oil reserves what will we do to replace the loss ?

 

[Blimey]

What is your prediction for price at the pump in a month ?..... Outside of burning up our oil reserves what will we do to replace the loss ?

I can't even guess, truly not a clue. We're still a tiny bit below our all time record, but I think oil hit like $150 briefly in 2008 or thereabouts. As oil costs increase the economy slows, so at some point if it hits a tipping point we hit a recession, which inhibits demand, and then oil prices come down.

 

[FP1201]

Well they weren't able to kill the population and our Economy with covid, the shot will take another year to really start offing people, so starvation and economic depression are the next plagues.

 

[Phazer]

To paraphrase Obummer..."The 1970s called, they want their energy policy back."

 

[TEOTWAWKI inc.]

Biden released 3 days worth of oil from the strategic reserves. Isn't that going to fix everything?

 

[Karpteach]

I foresee 7-10 bucks a gallon in the near future. let’s Go Biden

 

[C3D]

Maybe the independents that hated the mean tweets will begin to understand why they shouldn’t have voted for Democrats.

 

[ManrisFrack]

On the upside, my XOM position is doing amazing... percentage wise.

 

[Defilade]

Keystone anyone??

 

[diggs223]

Maybe the independents that hated the mean tweets will begin to understand why they shouldn’t have voted for Democrats.

they've been told its trumps fault and they'll believe

 

[dwa12479]

Don't worry, Joey put on his cape and released 3 whole days supply from the strategic reserves. Nothing further to see here. Move on to the next distraction.

 

[PutnamCharlie]

I paid $3.25 for heating oil two weeks ago and today the same place is $4.30. How the hell do they justify that big of a jump?

 

[livingston]

I paid $3.25 for heating oil two weeks ago and today the same place is $4.30. How the hell do they justify that big of a jump?

You are funding Putin's war... And Joebama goal is to destroy our oil and gas industry ...

 

[Uzi]

Does this mean I should think about selling my brand new oversized lifted pick up that gets 8mpg to get to the office in the city for work that has never been off road?

 

[Defilade]

Does this mean I should think about selling my brand new oversized lifted pick up that gets 8mpg to get to the office in the city for work that has never been off road?

Yes, and along with that gas sucking boat! Lol

 

[1075tech]

I paid $3.25 for heating oil two weeks ago and today the same place is $4.30. How the hell do they justify that big of a jump?

Because wholesale prices for March just hit $3.15. It's up 10% over last week. 70% year over year. Propane is following a similar trend .

Reserves are down 40% below the 5 year average and demand is still high.

Retailers are paying more for their laid in costs as transporters are paying more at the pump to transport it. Many are also increasing wages to retain drivers. Those costs get passed on to the retailer. The retailer is paying more to get the product to the consumer. Same reasons. Fuel prices up, payroll is up. They pass the cost on to the consumer - you. You ask your boss for a raise so you can afford the rising cost of life. You get a raise and your company raises it's prices to protect their margins. Etc., Etc., Etc.

 

[MothMan]

Saw gasoline for $3.95 in E. Syracuse, paid $3.69 at BJ's.

 

[Bigfoot]

Counter point... LOL

Does this mean I should give up both my used 4x4 trucks that often do go off road.
Gets me to my hunting spots and shooting spot.

Pulls assorted trailers, a car hauler, and plows snow. They are money makers.
My trucks are tools that earns money. They do much more than point A to point B.

Do I sell them because their MPG sucks?
Of course not. That's not the answer.

Getting the Democrat aka Green New Deal Party out of power is the answer.

 

[Acer-m14]

7 bucks or more for the Cheep Gas at the pump by July 4th .. that's what im predicting .. FUJB

 

[Acer-m14]

Saw gasoline for $3.95 in E. Syracuse, paid $3.69 at BJ's.

left work last night and while working the Cheep Gas is now 4.01.9

 

[FrankenCub]

I paid $3.25 for heating oil two weeks ago and today the same place is $4.30. How the hell do they justify that big of a jump?

My last propane bill for 146 gallons was $455, and I'll need to be filled again this week.
Gas in Whitney Point today for the cheap shit is $4.19.

 

[fresch]

Sniff of war in the air? Increase fuel price.
Summer, winter, increase fuel price.
Hang nail increase price.
No price increase in 24hrs., increase fuel price.

 

[Cavalry]

I have been driving my company truck as my commute vehicle lately, moreso because I'm too lazy to brush the show off my personal truck. My boss (one of the owners) noticed it the other day and made a snarky comment the other day (because he cant help himself) to the effect of "so your driving that all over the place" I responded back "yep filled it up this morning, $110 on the company card. You know it gets really shitty gas mileage, I'm thinking about trading it in on something new"

Seriously though, I really dont care what fuel prices are even if I'm paying it. It is what it is, there is nothing you can do about geopolitics and futures.

 

[fresch]

Tell him to take it off as advertising.

 

[Grimscale]

7 bucks or more for the Cheep Gas at the pump by July 4th .. that's what im predicting .. FUJB

Yesterday as I left to go to my doctor's appointment gas near me was $3.999/gal. Already a 19c jump from the previous day when it was $3.809/gal.
Coming home 1.5 hours later it was already $4.199/gal.

That's almost 40 cents jump in less than 24 hours.

And all my friend has to say is "Blame Putin and fear".

No, I blame Dementia Joe and his irresponsible and ignorant energy policies that not only are causing massive inflation, but are also aiding "the Enemy" by purchasing oil from Russia.

FUJB

 

[livingston]

Saw gasoline for $3.95 in E. Syracuse, paid $3.69 at BJ's.

paid 3.99 in Canandaigua ... CC purchase 3/2

 

[livingston]

Senator Lisa Murkowski Comes Out in Favor of Even Higher Gas Prices in Order to Adequately Punish Russia​

This DeceptiCon, this specific one, owned by the multinational corporate conglomerates, is one of the worst in office.

Alaska Senator Lisa Murkowski tells Politico tonight that she is in favor of higher gas prices for Americans if that’s what it takes to punish Vladimir Putin.

…”We’re going to see price increases. Nobody wants to see that. This is going to hurt. But we need to recognize Europe is in the midst of a war w/ Russia. Innocent people are dying. We have not been in as volatile as a situation as anytime in my life.“…

~ Senator Lisa Murkowski (Alaska)
Here we go with the narrative of you being unpatriotic if you are not willing to financially suffer the pain inflicted intentionally by the U.S. government. Not willing to pay $7/gal for gasoline? You’re selfish. Not willing to forego a better life for your family, in order to save Ukraine? You are a horrible person.
However, this narrative is even worse, because the NATO (aligned with World Economic Forum) economic warfare is not only a combination of ideology and corporate influence, but it is also made worse by U.S. government energy policy – which is aligned with the multinational corporations demanding the confrontation. Effen’ FUBAR all the way around.

Senator Lisa Murkowski Comes Out in Favor of Even Higher Gas Prices in Order to Adequately Punish Russia - The Last Refuge

This DeceptiCon, this specific one, owned by the multinational corporate conglomerates, is one of the worst in office. Alaska Senator Lisa Murkowski tells Politico tonight that she is in favor of higher gas prices for Americans if that’s what it takes to punish Vladimir Putin. …”We’re going to...

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