Oil prices low? Obama must have said that

  Like other land owners royalty holders I have seen crude oil go up an down. In the early 80s it bounced about $11/bbl to a whopping $38/bbl. lately we saw $110/bbl drop to $50/bbl. Like before what amazed me was the effect.

  I was in Autozone the other day  to buy some oil for the garden tractors. I asked myself you have to be kidding! Seems as if motor oil must not be made from crude oil. Thinking to myself hey wait a minute where is the drop in the price of crude for the consumer at?

  Commodities from petroleum ought to be taking a price dive as bulk materials and transportation cost are lower. Pay for labor sure hasn't went up to keep the prices as high as we see.

  Anyone have a comparable price on say 5 gallons of trans hydraulic fluid, 5 gallons of hydraulic fluid, motor oil, driveway coating  or the like to compare last years prices to current?  

2014

http://www.walmart.com/ip/Castrol-GTX-5W-30-Motor-Oil-5qt/17200822

2015

http://www.walmart.com/ip/Castrol-GTX-5W-30-Motor-Oil-5qt/17200822

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Replies to This Discussion

Permalink Reply by Dan on April 1, 2015 at 11:22pm
I sure hope the price of asphalt goes down and a few potholes get patched.
Permalink Reply by Lynn mudder on April 2, 2015 at 1:12am
Amen to that!!
Permalink Reply by Tim Tarr on April 3, 2015 at 6:45am
That motor oil on the shelf probably was refined from $100 oil. Gasoline has a faster consumption rate. I'll use 3 year old oil not such a good idea with gasoline. Especially with that damn ethanol in it.
Have you ever noticed when oil skyrockets gasoline goes up same day. When oil plummets it takes much longer for the price drop to reach the pumps.
When oil price rises they use last in first out. When prices drop they use first in first out.
Another thing is the "crack spread". Right now I'd bet it is pretty wide. Refineries have real fat margins right now.
0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on April 3, 2015 at 11:34am

Billy,

    I've asked the Walmart Greeter on several occasions why the price of a quart of oil was so high.

The price skyrocketed to its current price back in 2008 due to the RECESSION of all things. Gasoline was $4 a gallon, a great excuse for raising the price of everything we need in our daily lives.

Using logic I figured I could buy a 55 gallon drum of 10W40 for 50 bucks while the price is low, but I don't want to go through the dissapointment as well as embarasment of asking how much the barrel of oil will cost.

Today Buck Well 1H was paid 8 cents per gallon for 40,000 gallons of NGLs, while I paid $1.29 per gallon  this week for propane. It's the old rule of "If you own it, it's worth nothing". If a big corporation owns it, you can't afford to buy it.   And so it goes.

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