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06-04-2022, 05:10 PM
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#1
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Senior Member
Join Date: Jul 2017
Location: Benton, AR
Posts: 1,062
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Why are fuel prices so high?
I've heard all about the pipeline, Russia, post-Covid travel, but this video puts out another possibility of why we're paying so much for fuel that I hadn't heard about. In short, it's the CEO of Pilot/Flying J saying that they were forced to reduce their shipments of fuel to their stores. The audio is clear and the lip-sync doesn't look dubbed, so I don't detect any misdirection. Can anyone corroborate this?
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2009 Country Coach Veranda 400, ISM 500, Aqua Hot 525D
2019 Lincoln Nautilus 2.7L Toad
2020 Lectric XP E-bike (Hybrid)
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06-04-2022, 05:17 PM
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#2
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Senior Member
Join Date: Jul 2005
Posts: 5,996
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All I know is if it's got Buffet's money in it I stop buying. Thanks for the info.
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TandW
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06-04-2022, 05:31 PM
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#3
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Senior Member
Join Date: Nov 2015
Posts: 26,848
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According to this article Union Pacific Railway required the reduction
......asking shippers with the highest impact on its network, including Pilot Flying J, to reduce inventory as the railroad is dealing with over 20,000 excess cars on its grid.
asking shippers with the highest impact on its network, including Pilot Flying J, to reduce inventory as the railroad is dealing with over 20,000 excess cars on its grid.
I don't fuel at Pilot/Flying J or any other Trucker Station
But Rail service/truckers move everything once it reaches the shores.
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I took my Medication today. HAVE YOU?
Dodge 3500 w/Tractor Motor
US NAVY---USS Decatur DDG-31
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06-04-2022, 05:42 PM
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#4
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Senior Member
Join Date: Jul 2005
Posts: 5,996
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Come 2023 Buffet will own 80% of PFJ. Somebody was complaining about the squeeze that Musk puts on employees for output. Well, Bershire/Hathaway was no different when I worked for CalEnergy 20 years ago.
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TandW
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06-04-2022, 05:48 PM
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#5
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Senior Member
Join Date: May 2013
Location: SW Louisiana
Posts: 630
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You can't sell BPV (Battery Powered Vehicles) is gas is less than $2 bucks a gallon.
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A bunch of salvage title junk I rebuilt
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06-04-2022, 05:51 PM
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#6
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Senior Member
Winnebago Owners Club Workhorse Chassis Owner
Join Date: Oct 2015
Posts: 1,718
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Quote:
Originally Posted by Boogie_
You can't sell BPV (Battery Powered Vehicles) is gas is less than $2 bucks a gallon.
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And you cant sell gas for $2 bucks a gallon if you all but stop drilling for oil.
https://ycharts.com/indicators/us_oil_rotary_rigs
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Paul J Stough Iowa
2005 Winnebago Voyage 38J
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06-04-2022, 05:59 PM
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#7
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Senior Member
Tiffin Owners Club
Join Date: Jul 2012
Posts: 360
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We are planning a trip to New Mexico and back from Iowa.
Figured at current prices and higher, over $3000 diesel fuel. rethinking, we like it where we are.
Supply and demand, doing our part
..
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Karl and Janet
Tiffin Zephyr 45QDZ
Owens-Classic Trailer, with elevator and air ride
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06-04-2022, 06:06 PM
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#8
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Junior Member
Join Date: Nov 2020
Posts: 28
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PUTIN price HIKE
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06-04-2022, 06:24 PM
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#9
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Senior Member
Winnebago Owners Club Ford Super Duty Owner
Join Date: Sep 2010
Location: Chicagoland
Posts: 2,762
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Consider that 2 years ago the price of crude oil was in the negative numbers. Consider also that the oil companies believe the current administration to be unfriendly to it's business model. Consider Putin's war in Europe, fallout from Covid, and an uncertain future for the internal combustion engine.
Oil companies: "It's payback time!"
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Burns & Diane
2005 Winnebago Aspect 26A/2012 Subaru Impreza toad
Illinois! - Where the politicians make the license plates......
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06-04-2022, 06:34 PM
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#10
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Senior Member
Join Date: Nov 2018
Posts: 1,309
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GREED. Oil companies did not make their typical huge profits during Covid. Oil wells and refineries were shut down. Now we are paying for it.
That and the fact that a lot of the oil is being shipped overseas. That's the reason wants to build more pipelines. It's not staying here.
Same as natural gas. Huge compressor stations filling tanker ships.
I live in PA and with all the fracking wells, we should have the cheapest natural gas in the country. That's what the companies said when they wanted to drill, drill, drill.
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2018 KZ 270thle
2015 Silverado.
2012 GL1800
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06-04-2022, 06:38 PM
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#11
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Registered User
Join Date: Apr 2020
Posts: 1,603
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Quote:
Originally Posted by glwinger
GREED. Oil companies did not make their typical huge profits during Covid. Oil wells and refineries were shut down. Now we are paying for it.
That and the fact that a lot of the oil is being shipped overseas. That's the reason wants to build more pipelines. It's not staying here.
Same as natural gas. Huge compressor stations filling tanker ships.
I live in PA and with all the fracking wells, we should have the cheapest natural gas in the country. That's what the companies said when they wanted to drill, drill, drill.
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Let's not focus on greed and the other deadly sins. Envy is the other side of this, but this will get us nowhere.
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06-04-2022, 06:59 PM
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#12
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Senior Member
Join Date: May 2021
Location: Brenham, Texas
Posts: 2,288
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Quote:
Originally Posted by Boogie_
You can't sell BPV (Battery Powered Vehicles) is gas is less than $2 bucks a gallon.
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Bingo. You win the prize. If Pinocchio was calling the shots on fuel prices, that snout wouldn’t need a pill to make it grow.
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Eddie and Jomaye, Retired
2018 Newmar Ventana 4369
2021 Jeep 4 dr Wrangler
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06-04-2022, 07:21 PM
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#13
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Senior Member
Join Date: Dec 2012
Location: Oregon
Posts: 6,657
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"Why are fuel prices so high?"
A myriad of reasons.
Adjusting for inflation fuel prices were higher in 2008.
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06-04-2022, 07:30 PM
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#14
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Senior Member
Monaco Owners Club Freightliner Owners Club Holiday Rambler Owners Club
Join Date: Sep 2019
Location: Thornville, Ohio
Posts: 3,699
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Prices are high because the Fed changed a law about 15 - 20 years ago. It use to be US produced oil could not be exported. The US law changed and we are a top three largest exporter of oil in the world. Some years we have been number 1.
Much of the oil exported by Russia is finished (refined) goods. So it's not just the crude but its also the refinery capacity is lost. Normally there is lets say a 15% increase of price from crude spot per barrel to price per barrel refined. But right now in Europe they are paying over 50% uplift from the world crude oil prices for refined finished goods.
So the US refineries can make a bunch of money selling finished goods overseas, which then make the domestic prices compete for the finished goods.
So if the law was in place they could not export the refined oil and prices would be much lower.
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Art & Joyce
Thornville, OH
Kia Soul pushing a 36' DP Endeavor
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