Diesel prices

[stocky]

Just wondering if anyone knows what happened with the diesel fuel price today. One place I went diesel was up 50 cents and gas down 8 cents. Another was up 65 cents on diesel. Talked to some other people and the places closer to Springfield were pretty consistent 3.89- 3.99 today, after being 3.24-3.39 yesterday and the day before. Gas was 2.72 this morning. I was thinking maybe a new EPA clean air regulation went into effect and they waited to do it after the election, since it only applies to diesel and not gas. They keep saying gas price will continue to fall, but the diesel sure shot up today, and it doesn't cost that much to winterize the diesel, so they can't blame it on the time of year to winterize. It only comes down 5-10 cents in the spring when they stop winterizing it.

 

[Hook]

The elections are over.

 

[greybeard]

Polar Vortex. Uh huh-yep--that's what they're blaming the diesel $ increase on. POLAR VORTEX.
(Say it with me-P-O-L-A-R yep--you got it--now..say........ V-O-R-T-E-X)
All righty!!
Fish won't bite? POLAR VORTEX
Milk went sour? POLAR VORTEX
Lose the election? POLAR VORTEX (except in Texas--Wendy Whats-her-name lost because of Ebola)
Get eat up by bears or fire ants? POLAR VORTEX.
Wife leaves for a man 1/2 her age? POLAR VORTEX.

Oil prices rose Friday on expectations that cold weather could boost demand for petroleum products. For the week, however, prices posted losses as ample global supplies continued to weigh on the market.

Brent, the global benchmark, posted a seventh weekly loss, while the U.S. benchmark fell for a sixth straight week.

Oil prices have slid for months, hitting multiyear lows Tuesday, on concerns that the Organization of the Petroleum Exporting Countries is unlikely to cut its output to reduce a global glut of oil.

On Thursday, OPEC lowered the production forecast for its oil in its annual world outlook, predicting output would fall by 1.8 million barrels a day by the end of 2017 to 28.2 million barrels a day.

However, the start of winter weather is raising diesel demand in the U.S., as farmers rush to complete harvests before the arrival of frigid weather next week and homeowners stock up on heating fuels.

"We've been having a lot of spot shortages of diesel fuel in the Midwest," said Phil Flynn , analyst at the Price Futures Group in Chicago. "We're seeing a lot of people buying fuel because they're really worried about this polar vortex."

Light, sweet crude for December delivery settled up 74 cents, or 0.1%, at $78.65 a barrel on the New York Mercantile Exchange. Prices fell 2.4% this week and are down 27% from their mid-June high.

 

[HDRider]

It did not shoot up here in Raleigh.

 

[TennesseeTuxedo]

Election has no bearing on fuel prices.

 

[dun]

Usually it's claimed that the need for heating oil drives up the price of fiesel.

 

[Hook]

Election has no bearing on fuel prices.

I've been watching the pattern for 20 years, and it's not just me noticing it. Of course, there's always an excuse on why it goes up though.

 

[greybeard]

Election has no bearing on fuel prices.

I've been watching the pattern for 20 years, and it's not just me noticing it. Of course, there's always an excuse on why it goes up though.

You mean the fact that the elections, for longer than that 20 year time period have always been held in Nov, right at the start of winter--you know, when for most of the country, the weather either begins to get or has already gotten---------cold?

 

[Hook]

Gb, that explains the climb afterwards. But why does it drop before hand? And usually on election years it drops more than off years. The climb is just the prices getting back to where they were.

 

[slick4591]

I left out this past Sunday to my brother's lease and filled up with diesel @ $3.05. I came back Thursday and it was up to $3.35. Today it dropped to $2.28.

 

[greybeard]

Gb, that explains the climb afterwards. But why does it drop before hand? And usually on election years it drops more than off years. The climb is just the prices getting back to where they were.

What season precedes autumn and early winter every single year--even election years?
What do most Americans do (every single year) during the time that precedes autumn and early winter?

 

[Hook]

Summer. And families travel. Putting more a demand on fuel which usually causes prices to go up. Not down, like they do right before elections.

 

[greybeard]

Summer. And families travel. Putting more a demand on fuel which usually causes prices to go up. Not down, like they do right before elections.

Correct, then school starts, (Late Aug-Early Sept) vacations end, demand abruptly drops, leaving a glut of fuel supply. Prices stabilize and then drop, until the cold weather gets near or begins. People begin harvest, homeowners begin stocking up on heating oil and diesel, again placing demand on supply. Happens every single year the same way (unless a late season hurricane hits Gulf Coast).
No conspiracy, no govt control, no boogie man behind the curtain.

 

[stocky]

I guess I was looking more for why there was a 65 cent increase in diesel all of a sudden, today. Most increases are 5-10 cents at a time, unless there is a major news release about some new regulation or refinery disaster or something like that. If it were just an energy raise due to extra driving or travel, there would not have been an 8-12 cent drop in gas prices and articles every day in the news about the gas going to continually slide lower. 6 years ago, when this guy took over, gas was 1.78 per gallon and diesel 1.99, so going up is not going in the direction of where the fuel prices were. Going down would be in the direction, although they are still far higher than at that time. This is the group that said electricity prices will necessarily skyrocket with their destruction of the coal industry and they said 6-10 dollars per gallon for gas is what is needed to allow alternative energy to be competitive in prices, fortunately, the private industry has been able to keep that from happening, but they are working hard to turn it back to the skyrocket direction that they need to funnel the money to their chosen people.
Anyway, I wasn't debating the normal rise and fall of prices, I was wondering if anyone knew why there was a 20 percent increase in one day of diesel, when gas went down. Thanks for the thoughts and ideas.

 

[Nesikep]

Blame the diesel shortage on a bunch of farmers and their combines.. YUP!!!