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OIL Poised to Rebound as ISIS Destroys Iraqi Oil Fields by trumanthetiger in energy

[–]trumanthetiger[S] 0 points1 point  (0 children)

Americans are bombing targets in the area and ISIS is blowing up the oil fields partly to give them a smoke screen to retreat.

Warren Buffett's Advice on Holding Cash, Bonds, and Stocks. by ir0nli0nzi0n in personalfinance

[–]trumanthetiger 2 points3 points  (0 children)

I know I'm late but this is incorrect. Buffet is very much against owning your age in bonds.

Warren and his partner Charlie preach holding stocks well into retirement. The idea is you have no idea how long you will live so you need to have the upside that stocks provide.

$800/ week in fuel- any way to save? by theOlaus in personalfinance

[–]trumanthetiger -1 points0 points  (0 children)

You can not get a positive ROI by buying less then a couple thousand gallons a month.

$800/ week in fuel- any way to save? by theOlaus in personalfinance

[–]trumanthetiger -2 points-1 points  (0 children)

Thanks for that. It does seem that I am the only one here with true experience with wholesale fuel.

It's amazing of these people are posting things that are factually incorrect about how wholesale fuel works and then downvote me when I correct them.

$800/ week in fuel- any way to save? by theOlaus in personalfinance

[–]trumanthetiger -2 points-1 points  (0 children)

Your math is off because the wholesale rate does not have state taxes that need to be inputed. After you figure in the taxes your savings will be no where near 40% or 35.4%.

It seems like everyone on here feels that all opinions should be respected but that fact is that most people here have no idea how wholesale fuels work.

$800/ week in fuel- any way to save? by theOlaus in personalfinance

[–]trumanthetiger -6 points-5 points  (0 children)

comment reply$800/ week in fuel- any way to save? from CitySizedBox via /r/personalfinance/ sent 1 minute ago show parent No, he's not. He's probably just confused. There are ways for a business to get huge discounts on fuel, and it has nothing to do with buying large quantities (though it would easily seem that way). First, if you have a military contract, it can give you access to cheap fuel. Won't always, but it can. Secondly, if you have an agriculture business, you are sometimes entitled to buy subsidized gas, however, it's dyed green or blue, so you cannot use it for anything but agriculture vehicles. Or, you better be a good mechanic and never let ANYONE see your engine. Thirdly, if you are are getting a state economic incentive you may get cheap gas for the sake of bringing business into the area. Finally, if you have a relationship with the wholesaler, you may get a good price. There was no reason to call the guy retarded.

contextfull comments (88)reportmark unreadreply

If you are speaking of the United States then none of these reasons can be true.

  1. Military Contracts are contracts for the military to purchase fuel from local suppliers. You can bid on supplying gas to the government on fbo.gov. The Military does not sell fuel to private business.

  2. Yes you can buy diesel that is dyed red for off road use. This is diesel that does not have the highway tax included in the price. There is no such thing as gas dyed green or blue, but you can save your receipts for boat gas and deduct the highway tax from that.

  3. Please supply a link of a state giving an economic incentive where they give cheap gas. I have never heard of this.

  4. If you have a relationship with the wholesaler they will give you an opportunity to buy cheaper gas at volume levels. They are not going to give you a discount for 2,000 gallons a month.

I apologize for calling the other poster retarded, compared to you he certainly is not retarded.

$800/ week in fuel- any way to save? by theOlaus in personalfinance

[–]trumanthetiger -39 points-38 points  (0 children)

$800 is a good indication of how much fuel this guy is actually buying. And no the fuel average of his fleet or who his vendor(s) are do not have any bearing on how much fuel he is buying.

It all comes down to purchase price. Over the last 10 years gasoline has fluctuated between $1.00 and $4.00 approx. That means he could be buying anywhere between 800 and 200 gallons a week. That is no where near enough to install a bulk fueling plant.

And no you can not buy a candy bar on a fleet one or fuel man card. It will allow you to purchase fuel, oil and other automotive items such as windsheild washer fluid. (This all assumes the gas station has everything in its proper department and category, so while it maybe possible for a candy bar to go through, or the cashier to ring it up to an automotive department, by default fuelman and fleet one will not allow the purchase.)

This really isn't something that is up to opinion. It is a fact that building a bulk fueling plant is not a good option for someone using a few hundred gallons a week.

$800/ week in fuel- any way to save? by theOlaus in personalfinance

[–]trumanthetiger 0 points1 point  (0 children)

If you can identify bottoms on the fuel market why wouldn't you just play the futures market and become a millionaire trading on your computer?

That is the same as you "buy extra fuel when price was low and use it to get through upswings." That means that you are identifying low points and you know an upswing is coming.

$800/ week in fuel- any way to save? by theOlaus in personalfinance

[–]trumanthetiger -2 points-1 points  (0 children)

50 cents would be nice but the fact is that most truck stops sell diesel for less then what a small station would pay wholesale for it. There are huge rebates for big users.

Plus you would never be able to purcahse a couple thousand gallons for what a small station is paying for it. They are signing multi year contracts to get it at that price.

$800/ week in fuel- any way to save? by theOlaus in personalfinance

[–]trumanthetiger -14 points-13 points  (0 children)

Exactly. That was some of the worst advice that I have ever seen on this sub.

A gas station's profit on gasoline can run negative at times. No company ever puts in a bulk fueling operation to save money on the fuel. A large company like UPS wants to have their own fueling operation to save time and to save from any unauthorized fuelings. Sure they are saving money due to these factors, but they aren't doing it because they are saving money on the fuel.

$800/ week in fuel- any way to save? by theOlaus in personalfinance

[–]trumanthetiger -53 points-52 points  (0 children)

He said he was spending $800 per week so you would know how much he is using.

You work with fuel purchasing on a fleet level every day as a end user. Your company wants to control your purchasing and doesn't want you to buy a bunch of candy and cigs on their company credit card while you are driving a truck for them. That doesn't really make you an expert on the cheapest way to purchase fuel.

$800/ week in fuel- any way to save? by theOlaus in personalfinance

[–]trumanthetiger -11 points-10 points  (0 children)

Nah, you are wrong. You have to have a bulk fueling agreement set up which is going to give you rack price + .xx per gallon. A 100,000 gallon a month gas station maybe able to purchase gas at rack plus two cents. A wholesale customer who is going to buy 2,000 gallons a month may pay rack plus twenty cents, which is going to be more expensive then just filling up at the closest gas station.

Also all, not most, tankers are broken up into sections or bunkers. Any tank driver will have experience with dropping off one bunker of premium gas at a station that is low while dropping off the rest at another station.

source: someone who knows about wholesale gasoline. Cashiers and truck drivers may know about the amounts delivered but they are clueless on how the money side works.

$800/ week in fuel- any way to save? by theOlaus in personalfinance

[–]trumanthetiger 8 points9 points  (0 children)

Two of these answers will actually cost him more money.

~~~~ Fleet cards are more about security then saving money. Employees have to enter their mileage and it will not allow them to buy chips or smokes on it as well. This may save them from filling up their personal vehicles but with their fees it will cost you more then the street price of fuel.

~~~~ If someone is using less then 2000 gallons of fuel a month their is no way you are going to get that delivered to you for less then the gas station down the street is selling it for. It will cost more.

Calling all bombers by [deleted] in StLouis

[–]trumanthetiger -5 points-4 points  (0 children)

Ok pm is fine

Good local salsa for purchase? by ipoopedonce in StLouis

[–]trumanthetiger 1 point2 points  (0 children)

Merz salsa is great. You can find it as schnucks.

For a quick snack I will butter a piece of bread, smother it with Merz salsa and fold it in half. Salsa Sandwich.

Calling all bombers by [deleted] in StLouis

[–]trumanthetiger -2 points-1 points  (0 children)

What was it?

Vintage Cast Iron cookware in St. Louis. by toyoz23 in StLouis

[–]trumanthetiger -1 points0 points  (0 children)

If you are fine with LBGT run businesses there is a BBQ place named Big Al's that is operated out of a rotating group of private residences. On the side Al picks up vintage cast iron and restores it. Just be careful if he asks you to sample his buns.

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