Diesel Prices Are Going Up Really Fast

[Neal]

Putting some numbers, pen to paper, what will the difference in cost be for a trip assuming CG rates remain steady? Assuming 7 mpg for Diesel then a 1,000 mile trip will cost you around $450 more. Looking at it this way seems to sting a little less. By the way, I'll be the one driving 45 mph now so honk to say hi as you pass and be sure to show me that #1 sign that you love me.

 

[Texas Clodhopper]

As my financial advisor, also my son, stated yesterday, it is mostly emotional. His example was he spent an hour on a video phone call with a couple with separate accounts. When the husband spewed every doom and gloom headline and forecast there was no convincing him he should not cash out and put it in all cash. Then his wife began talking and Craig assured her she was in a good position especially since she had over $200,000 in cash. Her husband immediately said she was crazy having that much in cash and that she should be buying stocks. Craig with his hands in the air banged his head on his desk and the conversation ended with everyone laughing. Maybe there is a lot of emotion involved.

 

[marc2912]

Another reason to love NY

Cheapest by me

 

[Neal]

 

[Rich W.]

Another reason to love NY

Cheapest by me

View attachment 12379

Looks like California…but a little cheaper….

 

[sanda]

It would be cheaper for me to forfeit the loss on the one CG as well. I'm supposed to go to the Oshkosh, WI AirVenture airshow at the end of July. I wonder how many cancellations that event will endure on the airplane side.

It's sad, we just endured a Pandemic and this is no different other than less are dying from this but mental health of many will be put to a test so this will have an impact sadly as well. Businesses struggled through the last crisis and now are put right back into the struggle again. This one is fixable...

Not fixable for at least two more years. Those people have no shame and could care less.

 

[AbdRahim]

It is all a game. NJ last week reg. $4.399. NY $4.65, NY yesterday $4.799, Ohio today - same company as yesterday $4.399, diesel $5.49. Theyare playingwith our mindsand ourpocketbooks.

 

[RKins]

As my financial advisor, also my son, stated yesterday, it is mostly emotional. His example was he spent an hour on a video phone call with a couple with separate accounts. When the husband spewed every doom and gloom headline and forecast there was no convincing him he should not cash out and put it in all cash. Then his wife began talking and Craig assured her she was in a good position especially since she had over $200,000 in cash. Her husband immediately said she was crazy having that much in cash and that she should be buying stocks. Craig with his hands in the air banged his head on his desk and the conversation ended with everyone laughing. Maybe there is a lot of emotion involved.

Being retired, I check my 401k every day, maybe like a lot of you. It's been scary - my account is down $160k in the past 5 months, so emotions can get out of control. I realize that you only lose if you sell but ... While still working, I would just bury my head and continue throwing money at it, hoping to bolster the account during bad times (and good) and in the past that has worked. Even though I am invested in "safe" stuff, like CDs, annuities, low risk funds and cash, I have some leaks for sure. Fuel costs being what they are, makes emotions and anxiety worse

 

[Firedawg]

World War II

There are two sides, to some it's leisure use, to others it's their home. I hope it never comes to who is allowed to get diesel. It could, we are a very spoiled country that has never really had to deal with things like that.

It’s not about being a spoiled country, this is an “on purpose” intentionally created crises!
This absolutely does not need to be happening right now. Elections have consequences and stolen elections have catastrophic consequences!

 

[Voyageurs]

Putting some numbers, pen to paper, what will the difference in cost be for a trip assuming CG rates remain steady? Assuming 7 mpg for Diesel then a 1,000 mile trip will cost you around $450 more. Looking at it this way seems to sting a little less. By the way, I'll be the one driving 45 mph now so honk to say hi as you pass and be sure to show me that #1 sign that you love me.

We are not much faster. Cruise set at 90 kmh when we tow. (I think that is about 55 mph…ish. And slower in the curvy mountains.

 

[JRS]

Another perspective on the shortage.

https://www.washingtonpost.com/business/energy/us-east-coast-diesel-supply-is-running-on-fumes/2022/05/04/1ef4623e-cb83-11ec-b7ee-74f09d827ca6_story.html

Eldest son works for Bloomberg. Via their terminal, he showed me the number of oil refineries in the world and there's not that many and all were reported to be running last night.
If I counted correctly, there's only 18 in the entire US! Only 3 in Texas.... That info surprised me and this number won't improve given the huge cost of bringing a new one into production.

 

[Texas Clodhopper]

Eldest son works for Bloomberg. Via their terminal, he showed me the number of oil refineries in the world and there's not that many and all were reported to be running last night.
If I counted correctly, there's only 18 in the entire US! Only 3 in Texas.... That info surprised me and this number won't improve given the huge cost of bringing a new one into production.

Actually, there are 27 oil refineries in Texas. Because the environmental requirements and permitting have become so stringent, most likely there won't be any more built in the foreseeable further. Its estimated to take a minimum of 5 years to get the permitting and what company want to invest millions or billions in building a refinery and have the construction shut down when a different administration takes over. Hmmm...any pipeline come to mind?

 

[Jim]

That info surprised me and this number won't improve given the huge cost of bringing a new one into production.

It would take subsidies and assurances from the US government that the refinery would prosper (with or without the subsidies) for X number of years, making it a viable investment for the owners. The result would be a smooth transition from fossil fuels to renewable alternatives.

But our government doesn't plan things that far ahead.

 

[Texas Clodhopper]

While we're on this subject, the last oil refinery built in the US was Marathon Oil, Garyville, LA in the late '70s.
Edit: This was the last major refinery built. There may have been some relatively newer refineries built but with minimal thru-put.

 

["EZ"]

I noticed on this trip that the gas pumps no longer shut off at $100.00 or $125.00. They now let you go to $150.00 before they shut off and make you start all over again. I put my credit card in 3 times at $150.00 each time and still didn't get a full tank of diesel. I was just tired of pumping so I left.

 

["EZ"]

Putting some numbers, pen to paper, what will the difference in cost be for a trip assuming CG rates remain steady? Assuming 7 mpg for Diesel then a 1,000 mile trip will cost you around $450 more. Looking at it this way seems to sting a little less. By the way, I'll be the one driving 45 mph now so honk to say hi as you pass and be sure to show me that #1 sign that you love me.

Neal,
I slowed down to 65 MPH on this trip to try to save fuel and also because of my friends steer tire blow out that almost killed his wife. (That's still fresh on my mind. ) But the funny thing was I noticed that I was passing some tractor trailers at 65 MPH!! Seems they are also slowing down quite a bit to save some fuel as well.

 

[Voyageurs]

Neal,
I slowed down to 65 MPH on this trip to try to save fuel and also because of my friends steer tire blow out that almost killed his wife. (That's still fresh on my mind. ) But the funny thing was I noticed that I was passing some tractor trailers at 65 MPH!! Seems they are also slowing down quite a bit to save some fuel as well.

We came back from our last trip last week on a highway with stretches of 100 kmh speed limit. We never tow faster than 90 kmh so we are always sitting in the right lane with the cruise on 90 kmh. We were blown away to see that pretty much everybody was hanging out in the right lane. Trucks, cars, RV’s. I’m thinking people are trying to save a few bucks.

We start our 11000 kilometre, 6 province, 8 week tour on Tuesday. It will be interesting to see how many people are in the campgrounds.

Cheers.

 

[JRS]

Actually, there are 27 oil refineries in Texas. Because the environmental requirements and permitting have become so stringent, most likely there won't be any more built in the foreseeable further. Its estimated to take a minimum of 5 years to get the permitting and what company want to invest millions or billions in building a refinery and have the construction shut down when a different administration takes over. Hmmm...any pipeline come to mind?

Woah! Bloomberg data is a bit off. Thought number didn't seem right
Did some quick searches last night and found it costs over $10B to put a new one in so that's not going to occur

 

[Voyageurs]

Woah! Bloomberg data is a bit off. Thought number didn't seem right
Did some quick searches last night and found it costs over $10B to put a new one in so that's not going to occur

And not when they are losing gas and diesel customers to electric vehicles every day at an ever increasing rate.

Jmho. Not an expert.

 

[Texas Clodhopper]

Interesting that the demand for diesel and gasoline increases every month. It takes a lot of petroleum products to build those electric cars also.