WTI is under 10 right now, was -40 yesterday and mostly around -25 all day. West Texas is going from the great guns, worlds #1 producer to basically a vacant building. Even when our track opens car counts are going to be super light because a large amount of our people, especially the fast cars, are oil patch related. Either work in the patch or own companies that service the patch. Unemployment filings here have been light, but this will change that is a bunch of ways unseen right now. Saudi claims they can run at sup $20 prices for several years, so this likely isn't going to end soon.
And yes, the main storage locations are about to run out, and I've been told some companies have already paid to move it. Hence the major crater of price.
Long way between market price of crude and the gas pump. Besides, if you could buy 10,000 gallons for your highway stop-n-go for 0.50 and sell it to people happy it's only $1.50, you'd be fool not to. Not that I know what gas futures are. Well - "Reformulated Gasoline Blendstock for Oxygen Blending" futures are selling at 0.59. But looks like you have to contract for 42,000 gallons to get that price.
