Wouldnt all those factors you mentioned have caused prices to rise earlier though? Those things are nothing new...

They did. The OPEC cuts had a big impact back in December. The Iranian sanctions are only about a week old and Venezuela is collapsing every day. Meanwhile the world economy is improving...increasing the demand for oil.

Today I paid $3.75 per gallon for recreational gasoline - no ethanol. I use it exclusively in every small engine and outboard motors and atv, etc. I notice a big difference - everything performs better. I cannot get it at the pump or delivered without road tax.

The diesel that I have delivered is off road only so it has no road tax. It goes in tractors.

I do buy on road diesel for my Mule since I occasionally use it on the road going to other farms.

I don’t use much gasoline in vehicles for personal stuff except for doctor trips for wife, grocery store, and drug store. I don’t use much for hunting or trapping locally - close to home and use atv or Mule. I do use quite a bit for my wildlife business and trapping jobs.

3.19 this morning. I've got two trucks. An old Sonoma and a 2013 f150. Thinking about selling the f150. Don't drive it much. Can't stand the mileage. Spoiled by the Sonoma.

Nobody is forced to buy gasoline or any other fuel. For most of us it is simply a luxury.

It sure is ! A heck of a work saving product !

Here's a news piece from a couple hours ago.

https://www.streetinsider.com/Commodities/Oil+prices+slump+as+Saudi+Arabia+and+Russia+consider+output+boost/14237331.html

If you got it, a truck brought it.

Ever try pushing one of those things?

We got a transit system that charges $2.50 to ride anywhere in the county. To ride to the city it costs $3. It just runs during the week.

Crude oil down 3% this morning. Apparently the evil oil companies got together and decided to put themselves out of business since it can't possibly be free market supply and demand.

LOL !! Exactly !

Did somebody say they were evil?
It is funny to see so many jump to the defense of compaies when the prices skyrocket while profits are doing the same, yet tell us how any increase to min/low wage workers will break us all.

Not true. It is a way of life for farmers, transportation to get to jobs in my world if is nothing to travel 50 miles to get groceries. We travel long distances to get to medical facilities (200 t0 300 miles). Not all gas used is for the rich for pleasure Sir. That actually was not a intelligent statement. LOL

We all aren't as rich as you and can't walk across the street to get a loaf of beard.

That tells me that there is greater demand for gasoline than unskilled workers... Or there are more unskilled workers than there is demand for.

Mike

Its a good thing profits are rising.

Maybe you missed the news that in 2016 Chevron lost 497 million.

In 2016 Oxydental Petroleum lost 1.1 Billion......In 2015 they lost 8.1 Billion.

Conoco Phillips 2015 lost 3.8 billion; In 2016 they lost 3.5 billion; 2017 they lost 83 million.

Funny why they would manipulate the price of oil so they lose money. Must be some of that new math.

If you think they are making so much money why not buy some stock an get rich ? Because it's a lousy investment at this point and you will likely lose money....IMO

^ https://ycharts.com/companies/XOM/profit_margin

Exxon Mobile has many small oil company's with of course different names then Exxon Mobile. I used EM as an example only but I can tell you their small company's will show loses while EM shows gains.

Here is Chevron I believe you mentioned them also.
https://www.chevron.com/stories/chevron-reports-fourth-quarter-earnings-of-3-1-billion

Yep exxon ( XOM) made 8 cents for every dollar they invested in operations over the last 12 months. Apple made 21.55 cents for each dollar invested. Microsoft made 11.57 cents/dollar. Facebook made 40.5 cents/dollar.

I guess the hatred of the oil companies must be based on political ideology because it sure isn't based on economics.

A lot of the problem with the price of Gas is, federal and state and local takes. If these people didn't tax gas so much, there would be more room for oil companies to make a profit. No telling how much tax an oil company has got to pay on a barrel of oil. Taxes are ruining this and lots of other business profits.

I'm not sure it is hate bad choice of words. Bottom line they aren't going broke like they want YOU to believe. Have you had a chance to look at the link for Chevron I posted?

Yes I did. Maybe I missed it but I don't see anything extraordinary about that press release. Is there something not right about it ?

Many of apple's, microsofts, and face books products could be considered luxuries. For most of us fuel is not.
And I agree with the posts that point out the taxes on fuel are too high.