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Crude is Trading Negative?

Crude is Trading Negative?

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https://business.financialpost.com/commodities/energy/oil-drops-to-21-year-low-with-storage-filling-as-demand-shrivels


Wooo hooooo


@shavixmir

90 percent of your fuel cost is taxes, so you will not see a huge drop.


@eladar said
@shavixmir

90 percent of your fuel cost is taxes, so you will not see a huge drop.
Petrol’s not been as cheap as this in the Netherlands for decades.

To add a touch of irony, the Dutch government has lowered the speed limit from 120/130 to 100 during the day...

So cheaper petrol... and lower fuel consumption!!!
Wooooo hoooooooooooo

Road trip!

Oh. Yeah. That.
Well, it just goes to show... the oil industry never does anything right!


@eladar said
@shavixmir

90 percent of your fuel cost is taxes, so you will not see a huge drop.
Not even close; combined Federal and State taxes on average are about 50 cents a gallon. https://www.eia.gov/tools/faqs/faq.php?id=10&t=10


@shavixmir said
Petrol’s not been as cheap as this in the Netherlands for decades.

To add a touch of irony, the Dutch government has lowered the speed limit from 120/130 to 100 during the day...

So cheaper petrol... and lower fuel consumption!!!
Wooooo hoooooooooooo

Road trip!

Oh. Yeah. That.
Well, it just goes to show... the oil industry never does anything right!
In the US fuel prices would never stop you from road trips.

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@eladar said
In the US fuel prices would never stop you from road trips.
Yeah we just call it going for a drive, good news about the fall in the consumption of oil though. Perhaps these regular deadly viral outbreaks are part of Gaia’s natural defences.

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@no1marauder said
Not even close; combined Federal and State taxes on average are about 50 cents a gallon. https://www.eia.gov/tools/faqs/faq.php?id=10&t=10
Not in the Netherlands though, where petrol taxes are over half of the price.