Possible chart scenarios for Oil (and therefore Gasoline prices) as of today Saturday 6/13

[Luckyone]

Here is the chart evaluation on Oil that I did today.

OIL generated a new 9-week intraweek low and closed near the low of the week, suggesting further downside below last week’s low at 83.09 will be seen this week. Indicative and pivotal intraweek support is found 80.56 (83.85 on a weekly closing basis). Oil closed at 84.88 on Friday. Oil is definitively the one item to watch, given that a peace agreement with Iran would remove the strongest reason that Oil rallied that past 3 months. If a peace deal occurs (as Trump has said will happen this weekend) and the pivotal support is broken, a drop down to the $76-$78 area would likely be seen. Nonetheless, a drop down to that area would likely see buying interest with rallies back up to the $83-$85 area being seen. If the war is not resolved, pivotal resistance is found at 96.02. If the war is not resolved but the bombing does not re-start, Oil is likely to trade back up to 91.48 or even up to 94.69 (based on the daily closing chart). As of this evaluation, nothing is clear, though the situation based on what Trump said this last week, does favor the first (of the 3) outlooks (drop down to $76-$78).

The average price of gasoline in the States today (06/13/2026) is $4.08. based on this fact:

"Cost-based relationship: Historically, a $1 change in crude oil price per barrel translates to roughly $0.024 per gallon at the pump"

If the charts are correct and oil drop down to $76 a gallon, it would mean a drop of about $.17 per gallon for gasoline, meaning about $3.91 per gallon

That is not all that meaningful to any of us or to the economy.

 

[jknowgood]

Here is the chart evaluation on Oil that I did today.

OIL generated a new 9-week intraweek low and closed near the low of the week, suggesting further downside below last week’s low at 83.09 will be seen this week. Indicative and pivotal intraweek support is found 80.56 (83.85 on a weekly closing basis). Oil closed at 84.88 on Friday. Oil is definitively the one item to watch, given that a peace agreement with Iran would remove the strongest reason that Oil rallied that past 3 months. If a peace deal occurs (as Trump has said will happen this weekend) and the pivotal support is broken, a drop down to the $76-$78 area would likely be seen. Nonetheless, a drop down to that area would likely see buying interest with rallies back up to the $83-$85 area being seen. If the war is not resolved, pivotal resistance is found at 96.02. If the war is not resolved but the bombing does not re-start, Oil is likely to trade back up to 91.48 or even up to 94.69 (based on the daily closing chart). As of this evaluation, nothing is clear, though the situation based on what Trump said this last week, does favor the first (of the 3) outlooks (drop down to $76-$78).

The average price of gasoline in the States today (06/13/2026) is $4.08. based on this fact:

"Cost-based relationship: Historically, a $1 change in crude oil price per barrel translates to roughly $0.024 per gallon at the pump"

If the charts are correct and oil drop down to $76 a gallon, it would mean a drop of about $.17 per gallon for gasoline, meaning about $3.91 per gallon

That is not all that meaningful to any of us or to the economy.

Saw gas for $3.16 earlier in South Carolina.

 

[Gabe Lackmann]

We're not flying, we're falling.

WASHINGTON —
The U.S. strategic petroleum reserve is nearing record lows as emergency oil releases are being used to offset shortages tied to the war in Iran, with experts warning of potential impacts on gas prices.

"Probably at some point in mid to late summer is when these releases could potentially be over. And if the Strait of Hormuz isn’t reopened by then, we could see gas prices slingshot to potentially new record levels," said Patrick De Haan, an analyst with GasBuddy.

Emergency oil reserve nears 40-year low as experts warn gas prices could spike

Emergency oil releases tied to the war in Iran are driving the U.S. strategic petroleum reserve toward record lows, raising concerns about gas prices and fuel inventories.

www.kcra.com

 

[Luckyone]

Saw gas for $3.16 earlier in South Carolina.

National average is what I am talking about

 

[jknowgood]

National average is what I am talking about

Coming down fast.

 

[badbob85037]

Here is the chart evaluation on Oil that I did today.

OIL generated a new 9-week intraweek low and closed near the low of the week, suggesting further downside below last week’s low at 83.09 will be seen this week. Indicative and pivotal intraweek support is found 80.56 (83.85 on a weekly closing basis). Oil closed at 84.88 on Friday. Oil is definitively the one item to watch, given that a peace agreement with Iran would remove the strongest reason that Oil rallied that past 3 months. If a peace deal occurs (as Trump has said will happen this weekend) and the pivotal support is broken, a drop down to the $76-$78 area would likely be seen. Nonetheless, a drop down to that area would likely see buying interest with rallies back up to the $83-$85 area being seen. If the war is not resolved, pivotal resistance is found at 96.02. If the war is not resolved but the bombing does not re-start, Oil is likely to trade back up to 91.48 or even up to 94.69 (based on the daily closing chart). As of this evaluation, nothing is clear, though the situation based on what Trump said this last week, does favor the first (of the 3) outlooks (drop down to $76-$78).

The average price of gasoline in the States today (06/13/2026) is $4.08. based on this fact:

"Cost-based relationship: Historically, a $1 change in crude oil price per barrel translates to roughly $0.024 per gallon at the pump"

If the charts are correct and oil drop down to $76 a gallon, it would mean a drop of about $.17 per gallon for gasoline, meaning about $3.91 per gallon

That is not all that meaningful to any of us or to the economy.

We get zero percent of our oil from the Strait of Hormuz and have since these Arab nations tried to jack us back in the 70's. Supply and demand? No, we have no production problem, no plants blowing up. We don't have a transportation problem. The only thing we have is greed. Anyone not knowing these gas companies are making record breaking profit is brain dead or democrat. Remember, gas is a byproduct of oil production. Remember, any inventor of an alternat fuel gets dead real quick.

 

[Luckyone]

We get zero percent of our oil from the Strait of Hormuz and have since these Arab nations tried to jack us back in the 70's. Supply and demand? No, we have no production problem, no plants blowing up. We don't have a transportation problem. The only thing we have is greed. Anyone not knowing these gas companies are making record breaking profit is brain dead or democrat. Remember, gas is a byproduct of oil production. Remember, any inventor of an alternat fuel gets dead real quick.

If you are right, why then.did our gasoline prices rise o much

 

[blackhawk]

Gas here is $3.15 a gallon gas prices vary from state to state depending on the type of taxes and regulations there are in the state which impacts the national average price per gallon the price per gallon here is always lower than the national average where I get my gas it's 0.93 cents lower than the national average.

 

[RoshawnMarkwees]

 

[RoshawnMarkwees]

We get zero percent of our oil from the Strait of Hormuz and have since these Arab nations tried to jack us back in the 70's. Supply and demand? No, we have no production problem, no plants blowing up. We don't have a transportation problem. The only thing we have is greed. Anyone not knowing these gas companies are making record breaking profit is brain dead or democrat. Remember, gas is a byproduct of oil production. Remember, any inventor of an alternat fuel gets dead real quick.

The price is based on global supply. The Hormuz situation affects that in spite of our own independence.