Rates are crashing and fuel to the moon!

I had smoked salmon, mashed potatoes, and asparagus last night. Was good stuff. Tonight was burritos in the truck.

 

I don't think we could right now without adding refineries, but I have not tried to run the numbers on it. Biggest issue is a lot of our crude comes from Texas, OK, NM, and North Dakota and they are light sweet oils. Our gulf refineries were set up for heavy crude.
If we had to go down this route we would need to open up CA, Gulf Of America, and Alaska more since that is where we have the heavy crude that would be used to mix with the lighter to get better production. We could do it no problem if it was federalized but that won't happen unless we are in WW3.

 

I hate we closed so many down just like I hate we got rid of so much manufacturing. We need more built but we don't need to add the small ones. We need half a dozen big ones so we can have refiners shut down for maintenance when needed without raising prices. I guess the Illinois plant went down this week as well twice. Not sure when it will be back up.

 

it was spot price , but i didnt say as much , retail is all over the place due to location

 

So some quick math shows they pay $127 ÷ $1,510 ≈ 8.4%. for a year of fuel with top earners in IRAN. This is all based on 20 gallons of gas for a week for 52 weeks.

USA Median household income in 2025: $87,460 same thing here with 20 gallons of gas for 52 weeks.
1,040 × $3.10 = $3,224 for the year. $3,224 ÷ $87,460 ≈ 3.7%.

So if you are in the USA and run the numbers from last years average gas cost we are at 3.7 percent of our pay and they are at 8.4 percent of their pay.


So they make on average :

• Average urban household income ≈ $1,510 per year (roughly $126 per month for the entire household)

• Average rural household income ≈ $885 per year

Also all oil fields and oil production is owned by the government. So they control the cost of fuel and subsidize it for everyone.
Iran uses a three-tier subsidy system with monthly quotas on fuel cards:

• First 60 liters/month: 1,500 tomans per liter (~$0.0066/L)
• Next 50 liters/month: 3,000 tomans per liter (~$0.013/L)
• Above 110 liters/month (unsubsidized): 10,000 tomans per liter (~$0.044/L) as of the September 8, 2026 increase

 

That refinery went down in Illinois. We will see higher prices in midwest until it gets put back online.

 

ExxonMobil Joliet Refinery Floods and Stays Offline as Midwest Diesel Hits Records - Energy News Beat

 

They haven’t built a new refinery since 1977 and have no plans on doing so in the future. In fact demand is shrinking so they’ll be closing down more in the future.
It’s just not profitable to invest billions on a refinery that has low margins to begin with. Billions up front for a refinery that isn’t going to produce a gallon of gas for at least 5 years.

Heck, only 30% of the refineries we have now refine our domestic oil. They all could but it would be a financial loss. Everything is about profit, logistics etc and to be honest we don’t have a refined fuel supply shortage. We’ve always been able to meet demand with a surplus…

Unfortunately, they sell to the highest bidder so they are exporting much more refined diesel and gas now due to the obvious bs going on.

If they didn’t our global economy would/could collapse.

The President has the power to restrict the exports but imo it would be a stupid move. Simply put, we import a lot of refined fuel due in part to lack of pipelines and it’s..more profitable for the oil companies.

 

I think you missed the point of the video. He has a bunch more videos posted. Take off your firefighter gear and go watch some..they’re funny as hell

I did notice something that made me laugh in your post..$3.10 fuel costs from 2025..and the medium household income..while accurate I wonder why everyone is complaining about pump prices…they should be celebrating!

 

Back when I was born (hatched)

• Nominal price: $2.95–$3.00 per barrel

• Inflation-adjusted value: ~$25–$32 per barrel in modern dollars

• Average retail gasoline price: $0.30 per gallon

• Global benchmark (Arabian/Middle East posted price): $1.80 per barrel