Has Anyone Noticed if the Price of Motor Oil has Dropped?

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dibbons

dibbons

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Gasoline is cheap, has motor oil had the same changes? I haven't purchased any lately, been going to a local oil change place and won't be due again for awhile. Just curious.

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I nought some the other day, I can tell you the price has not changed.
At least not in Cincinnati OH.
 
Still the stupid 5 bucks a quart unless you get it in the 5 quart jug.
I get Castrol Syntec in the 5 quart for about 19 bucks with tax.

Gear oil surprised me since it's been a long time since I bought any.
Who would thought filling the rear end and adding Sure Grip additive would be 40 bucks or so? :realcrazy:
 
It's not going to drop either. They know we need it & still buy it. So until we stop buying & cause a surplus; we keep paying what they charge. Same thing happened with the auto paint. Hurricane Katrina changed all that !
 
Out of the dozens of things made from crude oil, engine oil is pretty much last on the list. The supply chain is fully stocked so if prices drop, it will be a while to see it happen.
 
TrailBeast said:
Still the stupid 5 bucks a quart unless you get it in the 5 quart jug.
I get Castrol Syntec in the 5 quart for about 19 bucks with tax.

Gear oil surprised me since it's been a long time since I bought any.
Who would thought filling the rear end and adding Sure Grip additive would be 40 bucks or so? :realcrazy:
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I had to buy some for my rams front axle after I rebuilt it. It calls for 75w140 like 2.5 quarts so I had to buy three. I couldnt believe how expensive that crap was.
 
NO,,,,, Oil has not gone down in price,,,,,, But gas around here, has already started to go back up, .25 cent/ gal in one day. Was $119.99/gal 2wks ago, Now $1.79/gal.

Dave
 
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barracudadave67 said:
NO,,,,, Oil has not gone down in price,,,,,, But gas around here, has already started to go back up, .25 cent/ gal in one day. Was $119.99/gal 2wks ago, Now $179.99/gal.

Dave
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180 dollars a gallon? Wth do you live ?
 
dartfreak75 said:
I had to buy some for my rams front axle after I rebuilt it. It calls for 75w140 like 2.5 quarts so I had to buy three. I couldnt believe how expensive that crap was.
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Not surprising given how often people need to buy it. The petroleum business makes profit on volume and lower volume means they charge higher prices for the commodity.

If McDonalds only sold 10 hamburgers per week at each location, imagine what they would need to charge for a burger to stay profitable. The oil business is no different.
 
So....who 'bought' 100 barrels of crude and MADE $3700? I hear 1 savvy investor actually bought a million barrels. Not sure how or what he's going to with 'them'!
 
Oil has quietly been going down for some time.

Back a few years ago it was commonly just under $25 per 4 QT container.

It started with $5 rebates but now I see $16-$17 for 5 QT containers around here.

My standard purchase is Valvoline or Motorcrft 10/30 syn blend.
 
pishta said:
So....who 'bought' 100 barrels of crude and MADE $3700? I hear 1 savvy investor actually bought a million barrels. Not sure how or what he's going to with 'them'!
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Yes, the supply chain is filled with oil. Some oil tankers are staying at sea. All tanks are full. Over 100 oil companies will go bankrupt in the next year. Theres a lot of costs other than raw material in motor oil so it will be interesting to watch the selling price.
 
Storage is a huge issue with petroleum products and Motor oil is low on the list. Gas has a shelf life, motor oil expiration date... ever seen one?
 
Shouldn't things other than oil that are made petroleum go up and down with the crude price? For example: anything made from plastic. Those items go up when oil goes up, but doesn't come down with the price.
 
The new API SP and ILSAC GF-6 motor oil specs were released last week. Even though they've probably been known for a little while, it may mean reformulation of some brands. It will mean new packaging for all brands. Expenses incurred for these changes will be passed on, even if it just means not lowering prices they might have due to lower crude costs.
Unlike fuel, the cost of crude makes up a smaller part of the price of motor oil. Also, price changes on motor oil are slower in reaction to crude price changes. Be assured though, that if crude price stays depressed, mineral based motor oil price will be reduced eventually.
 
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I got a letter from my electric utility espousing how they were "concerned for the customer" and "looking out" for us and letting us know they were adjusting their rates down "because they care".

Gonna have to play the BULLSHIT card.

Couldn't possibly be lowering rates because the price of fuel has gone down to the point of them entering a potential regulated markup limit, could it?
 
Car insurance rates have been reduced, too.
Is it because one company did it out of the goodness of their hearts, and others have followed suit to stay competitive?
Or are claims down so much they are also making more than allowed by industry regulation?
 
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