Based on US territorial supplies of oil and gas, refined fuel base retail cost (before state taxes) should be around $0.95-$1.00 per gallon. That is just above "breakeven" to pump, refine, distribute. It roughly correlates to $19/barrel oil (US supplies only) and somewhere around $0.50 on gasoline futures chart (as seen in 2020). We go much lower than that for an extended period and dollar-based oil companies start bleeding cash with all profits wiped out. So lots of room to go down yet, imo.
Fla is 3.15 Sick of it
Based on US territorial supplies of oil and gas, refined fuel base retail cost (before state taxes) should be around $0.95-$1.00 per gallon. That is just above "breakeven" to pump, refine, distribute. It roughly correlates to $19/barrel oil (US supplies only) and somewhere around $0.50 on gasoline futures chart (as seen in 2020). We go much lower than that for an extended period and dollar-based oil companies start bleeding cash with all profits wiped out. So lots of room to go down yet, imo.