🚨 JUST IN: Oil prices plunge to the lowest level since 2021 – WSJ pic.twitter.com/oOS2TMPt8f
— Eric Daugherty (@EricLDaugh) April 4, 2025
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Another way to stick it to Russia.
Agree & how much of that drop will show up in the gas & diesel price?
Good time to refill the strategic reserves
Isn’t it fascinating how rising oil prices are reflected within seconds at the gas pump, but falling prices seem to take, IDK, several days or weeks…
Heh, you noticed that too? I also like how the price increase can be 20-35 cents a gallon all at once, but the decreases come in incremental dribs and drabs of 5 cents a gallon.
Not reflected at the pumps. At least not yet. I paid $3.70 a gallon just a couple days ago.
Oil prices mean nothing! Refining capacity is what sets street prices. We have a years worth of crude parked off shore, on inbound, awaiting refinery space. U.S. refinery output is listed as being at a steady 100+% of capacity. Since we couldn’t refine even one drop more, if our lives depended on it, it’s all a BS psyop until we get 20 to 30 more refineries, which the communist democrats have blocked, at big oils request, and $$$!
Exactly. Charts don’t mean any thing, they are jsut the teaser for the uninformed. The oil game started in the early 70’s and has flourished ever since. Tulsa used to have 4 refineries, now it only has one.
True enough, but if there is a years supply of crude sitting offshore waiting to go through a refinery (and presumably already paid for at whatever the per barrel price was when it was acquired) then why does the gasoline price instantly change in response to volatility in oil price? The input cost for the crude should not be nearly so dynamic if there really is that much supply sitting and waiting for refining. I still say we are getting played for suckers in another “heads I win, tails you lose” market scam.
The same thing is happening with some products newly subject to tariffs right now. The price has already gone up at retail, even though what is being sold was bought, paid for and already in inventory prior to the latest tariffs. They really do think we’re stupid and can’t see opportunistic BS like this for what it is.