Saudi Arabia Cuts Oil Output

[750]

http://www.cnbc.com/id/46445698

Get ready for pain at the pump. Have cut back on the amount of driving I do. Price here for regular 3.35 on the low end 3.45 on the high end.

[M-technik-3]

Would love 3.35 as we are at 3.70 for 87 octane, but then again it was 4.12 in Hawaii yesterday.

[Danny]

Over 4 a gallon for 87 in CA.

[Mlarsen]

^Currently? That sucks. I pay about $3.40.

[10Toes]

http://www.r3vlimited.com/board/showthread.php?t=237932

[dreamer420]

i paid 4.27 for 91 yesterday. regular is 4.11

thats ok cuz I got a dui and cant drive for the next 6 months anyway!

[Robert]

4.47 for 91 here in san fernando valley.

[giantkeeper]

$3.70 ish here for 91

[e30e]

Yea, I'm about to get the e30 in DD shape, I do 70+ miles a day for work and 90 bucks to fill up the truck hurts. Plus it only get 17 mpg IF I baby it.

[Roysneon]

I am prepared to not give a fuck. I'm sure that most of the economies in that geographical area need to sell their oil more than other countries need to buy it. Don't let them BS you, I'm sure if the US and Canada were at peak oil production, we could supply ourselves long enough that any mid east supplier would give in.

I don't have much of a basis for that opinion, though, so I could be wrong.

[dinanm3atl]

It's a different situation right now. Demand is down actually and the price was still going out. So now cut oil production and hope for more demand?

It's a damn game right now.

[nando]

http://www.cnbc.com/id/46445698

Get ready for pain at the pump. Have cut back on the amount of driving I do. Price here for regular 3.35 on the low end 3.45 on the high end.

that was 2 months ago.... so any future change in fuel prices is unlikely to have anything to do with it.

but, Iran is cutting output to the EU. They only represent a small fraction of global oil supply, but it will make a dent. On the west coast, I'd be far more worried about the crude unit fire at BP Cherry Point than a small reduction in output by the saudi's that's 2 months stale..

http://www.marketwatch.com/story/oil-surges-above-105-a-barrel-2012-02-19?link=MW_story_popular

[EndreM]

We hit an all new high today.

Roughly $11.30 for one gallon.

[Nairb]

I ride a motorbike. Not too mad, but damn that sucks.

[wannaBMthree]

Inflation here we come