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There is a lot of talk that the Saudis is sharply discounting the price of oil is to financially hurt the Russians for the sake of the of the Americans because of the situation in Ukraine. They did this before in 1980's which caused the Soviet Union to collapse because oil prices were so low the Soviets could not finance their huge military budgets. The Canadians will be sacrificed as collateral damage in the effort to accomplish this.
Unlikely.
Let's say tomorrow Saudis decided to sell their oil for $60 a barrel. What happens? The same thing if your corner Sunoco decided to sell gas for a $1 a gallon. Do other gas stations have to lower their price too? No. All they have to do is wait one hour for the $1 gas to sell out.
$3.30's in NYC after hovering right beneath $4 for the past 7yrs or so.
I know a Citgo just north of the Bronx that is down to $3.17 cash and $3.27 credit. But they are weird because they charge 70-90 cents/gallon more for Plus and Premium than Regular.
I know a Citgo just north of the Bronx that is down to $3.17 cash and $3.27 credit. But they are weird because they charge 70-90 cents/gallon more for Plus and Premium than Regular.
I was curious if others are seeing the premium lagging like this as well. It's not quite that bad here but still noticeable. For example 2 months ago the premium seemed to be 30-33c higher than regular, but now it is around 40c higher than regular. I would think lower prices would mean less separation...
I think reg was 3.04 and premium was 3.43 on my last fill up in Mesa AZ a few days ago.
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