Thinking about stocking up on oil
- Thread starter zktk01
- Start date
joseywales
Well-known member
Oil is not a refined product and in fact is dropping in price.
Gas on the other hand...
The industry is about 3 billion gallons behind in production. The largest refinery, among others, is closed. Refineries that are operating are working off stored crude, as the closed ports prevent waterborne crude from coming in. When that stored crude runs out, oy...
The retail price will rise, with the intent of curbing demand. The holiday weekend only exacerbates the problem though.
Gas on the other hand...
The industry is about 3 billion gallons behind in production. The largest refinery, among others, is closed. Refineries that are operating are working off stored crude, as the closed ports prevent waterborne crude from coming in. When that stored crude runs out, oy...
The retail price will rise, with the intent of curbing demand. The holiday weekend only exacerbates the problem though.
L5wolvesf
Well-known member
anndel
Well-known member
I have but not because of Harvey and the Gulf. It was on sale at NAPA and Wal Mart plus I have 3 oil changes coming up soon.
joseywales
Well-known member
Sorry. Crude oil. Motor oil is a refined product, but there's no shortage of crude oil, just inability to get it from point A to point B, to make gasoline, motor oil, etc. However, no one is running out to fill up on motor oil. It's really gas that will be in significant short supply.
joseywales
Well-known member
With regard to gasoline, marketers actually make more when the street price is dropping. We're talking pennies, or more commonly less, but in a down market, usually, the street prices fall slower than the oil price. In an up market, the street rises to keep up with cost, so not much "gap" for a marketer to take.
sberry
Banned
Not a big deal, with long changes it doesn't mean so much.
joseywales
Well-known member
Agreed. People drive miles to save a penny a gallon. Could never figure that out.
cajunfirehawk
Well-known member
I keep several gallons on hand, remember buy low...
JRC3
Well-known member
I hope Sam's Club don't raise the price more than $21.98 for a case of Certified 5W30.
L5wolvesf
Well-known member
No sweat, I didn't think the OP was talking investing in West Texas Crude.
That strikes me as odd too, but . . . people
disston
Well-known member
I try to buy motor oil when my brand is on sale. If I had storage capacity I would buy in bulk maybe.No real storage so I have never looked into this.I think just for an individual use, a couple of cars and trucks you would have to buy 1000 gals or more to get a price break. I know a guy that restores diesel truck and he had several heating oil tanks that he planned to store diesel oil in but then nothing came of it.
There was a time when motor oil was less refined than it is today. I knew a gas station when I was a kid that put used motor oil in 55 gallon drums. After it settled you could skim the top cleaner oil off and they would sell this cheaper than new oil.
Maybe somebody has done this? I don't know. Have never heard much talk about it on survival forums but then I don't follow survival forums anyway.
How much motor oil do you think you can handle?
There was a time when motor oil was less refined than it is today. I knew a gas station when I was a kid that put used motor oil in 55 gallon drums. After it settled you could skim the top cleaner oil off and they would sell this cheaper than new oil.
Maybe somebody has done this? I don't know. Have never heard much talk about it on survival forums but then I don't follow survival forums anyway.
How much motor oil do you think you can handle?
dkroth
Well-known member
Mobil 1 rebate is back on....
.
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Ign
Well-known member
I've got hundreds of quarts on hand in nearly every imaginable weight and mixture of dino to full syn. Maybe I can flip it all and be rich. But I think I'll keep working just in case this brilliant plan doesn't work out....
joseywales
Well-known member
Best gun oil I can think of. Stock up!
Cyansarunt
Banned
penny wise pound foolish
you'd be MUCH better off financially by investing an extra $10 a week or making an extra payment towards car/house loan etc. than doing something foolish like stock up on motor oil to save a few pennies
you'd be MUCH better off financially by investing an extra $10 a week or making an extra payment towards car/house loan etc. than doing something foolish like stock up on motor oil to save a few pennies
joseywales
Well-known member
Thank goodness I didn't follow that advice, when I stocked on ammo years ago.
Rimfire ammo went up about 500%. However, you're probably correct. But my home loan rate is dirt cheap and I drive a company vehicle, so
Moose97
Well-known member
Funny, I was thinking about this yesterday. Not really because of prices going up but because I saw how much cheaper (and in turn easier) it is to order online. Amazon had a case of oil (12 qts) for a cheaper price than I can buy it at the store. I have 4 vehicles I'm changing oil on so that's 4 different types of oil and 4 different oil filters. I was just thinking how nice it would be to have the oil delivered and on hand whenever need and time line up.
joseywales
Well-known member
Fill disclosure - I didn't stock up on ammo because I had any premonition about shortages, etc. I had just began a spreadsheet, to see what I had, what I need, etc. Locally, there isn't much of a variety anyway and online had better selection and prices. So I ordered to fill gaps in my inventory. Did I go a little nuts...absolutely. But who here has enough wrenches
Anyway, I'm glad I did. I didn't sell one round of ammo, well none above what I paid for it anyway. I helped some folks get through, but letting them borrow ammo or paying my cost. Other than that, I had bought the ammo to shoot, and perhaps for the next generation to shoot and that's what it will be here for.HoosierBuddy
Well-known member
Remember that you have to buy AND sell to make money.
Just buying doesn't count.
Sure...buying something you need when it's cheap SAVES you money...but that's not the same thing.
It can be done. Just make sure you remember to fill in your profit under the miscellaneous income section of your 1040.
right? right?
Phil
Just buying doesn't count.
Sure...buying something you need when it's cheap SAVES you money...but that's not the same thing.
It can be done. Just make sure you remember to fill in your profit under the miscellaneous income section of your 1040.
right? right?
Phil
joseywales
Well-known member
True. But for a while there, my net worth was higher! Probably see a similar spike at the next election.