Gas prices 2019 and beyond

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Today's price.

Interesting how quickly prices at the pump went up when oil was $160/barrel . The adjustment down is never as fast.........
 
Fri, July 8, 2022 at 10:37 AM
finance.yahoo.com
(Bloomberg) -- Gasoline prices in the US just saw the biggest single-day drop in more than a decade.
Average US pump prices fell by 3.1 cents to $4.721 a gallon overnight, marking the largest daily drop since December 2008, according to auto club AAA. Prices at the pump have been falling for the past 24 days — the longest streak of declines since April 2020 — along with losses in crude oil prices, which make up around 60% of the cost of gasoline.

"HE DID THAT"
 
movetheboat said:
Fri, July 8, 2022 at 10:37 AM
finance.yahoo.com
(Bloomberg) -- Gasoline prices in the US just saw the biggest single-day drop in more than a decade.
Average US pump prices fell by 3.1 cents to $4.721 a gallon overnight, marking the largest daily drop since December 2008, according to auto club AAA. Prices at the pump have been falling for the past 24 days — the longest streak of declines since April 2020 — along with losses in crude oil prices, which make up around 60% of the cost of gasoline.

"HE DID THAT"
Click to expand...
???
 
movetheboat said:
Fri, July 8, 2022 at 10:37 AM
finance.yahoo.com
(Bloomberg) -- Gasoline prices in the US just saw the biggest single-day drop in more than a decade.
Average US pump prices fell by 3.1 cents to $4.721 a gallon overnight, marking the largest daily drop since December 2008, according to auto club AAA. Prices at the pump have been falling for the past 24 days — the longest streak of declines since April 2020 — along with losses in crude oil prices, which make up around 60% of the cost of gasoline.

"HE DID THAT"
Click to expand...

Yeah, nothing like a recession to lower demand. And not to worry, history tells us this particular group knows how to get us out of a recession. We'll be in a war with somebody soon.
 
Avenger said:
Yeah, nothing like a recession to lower demand. And not to worry, history tells us this particular group knows how to get us out of a recession. We'll be in a war with somebody soon.
Click to expand...
boom and bust is a normal part of the economic cycle...things do not continue straight up or down....what group was it that brought us to Desert storm and operation Iraqi freedom again?

rates will raise another 50-75 basis pts this month and break the back of the inflation grip.....If the Ukraine war ends....it's over Johnny!!! I get the feeling that some would actually rather all this continue just to help their "SIDE" or something....really bat chit crazy stuff out there
 
movetheboat said:
boom and bust is a normal part of the economic cycle...things do not continue straight up or down....what group was it that brought us to Desert storm and operation Iraqi freedom again?

rates will raise another 50-75 basis pts this month and break the back of the inflation grip.....If the Ukraine war ends....it's over Johnny!!! I get the feeling that some would actually rather all this continue just to help their "SIDE" or something....really bat chit crazy stuff out there
Click to expand...

You mean like the people who wanted the economy to collapse so Trump wouldn't be re-elected? There's plenty of leftys out there that espoused that. Bill Mahr being one of the first that comes to mind. I've also noticed that he is suddenly pulling back from some of his positions. I don't know if that means he's had an epiphany, or he's looking for ratings. Cynical me guesses the latter.

If you think fooling with interest rates is going to overcome the damage caused by "quanatative easing" you're kidding yourself.

However, I am willing to agree that there are very few people from either party that really have America or the American people's interests at heart. They're the finest politicians that money can buy.
 
Supply and demand. Few theories are more accurate than the effect of supply and demand on prices.

As long as we keep paying for gas, no matter the price and vote down price related legislation, they will keep raising the price. why shouldn't they, until they kill the golden goose.

In the past, efforts at conservation and fuel alternatives forced oil companies to lower the price of gas until those alternatives became uneconomical and were abandoned. But recently politics got involved on the side of the oil companies and against the interests of consumers.

This time, as gas prices rose way out of wack with the price of oil, some of the public attacked anyone advocating for some way to reduce demand or attack the oil companies. The higher the price went, the stronger the anger against those advocating alternatives, and the less and less blame was put on the companies actually raising the prices.

But eventually, they went a little too far, got the golden goose a little sick, and demand has reduced. No problem for them, folks are now used to $4+ per gallon even if oil is "only" $100 a barrel and gas should be in the low $3's.
The only permanent way to keep prices down is with alternatives to oil based fuel to increase the fuel supply, or increased efficiencies and alternatives to reduce demand.

The best way to keep prices high is to fight any effort to move away from reducing the supply of fuel options or increasing efficiencies.

Supply and demand.
 
wholesale gasoline is 3.30 the gap between wholesale and retail right now is ridiculous.....price gouging! People are still flocking to the roads at high prices so why not milk it for all it's worth!!
 
Matts said:
Supply and demand. Few theories are more accurate than the effect of supply and demand on prices.

As long as we keep paying for gas, no matter the price and vote down price related legislation, they will keep raising the price. why shouldn't they, until they kill the golden goose.

In the past, efforts at conservation and fuel alternatives forced oil companies to lower the price of gas until those alternatives became uneconomical and were abandoned. But recently politics got involved on the side of the oil companies and against the interests of consumers.

This time, as gas prices rose way out of wack with the price of oil, some of the public attacked anyone advocating for some way to reduce demand or attack the oil companies. The higher the price went, the stronger the anger against those advocating alternatives, and the less and less blame was put on the companies actually raising the prices.

But eventually, they went a little too far, got the golden goose a little sick, and demand has reduced. No problem for them, folks are now used to $4+ per gallon even if oil is "only" $100 a barrel and gas should be in the low $3's.
The only permanent way to keep prices down is with alternatives to oil based fuel to increase the fuel supply, or increased efficiencies and alternatives to reduce demand.

The best way to keep prices high is to fight any effort to move away from reducing the supply of fuel options or increasing efficiencies.

Supply and demand.
Click to expand...

You don't understand how markets work either.

It isn't the effort to develop alternatives that received pushback. It was the use of force. Under the guise of "we must act now or we're all going to die." they shut down the development of new fossil fuel resources (because evil) and mandated the use of expensive, ineffective and unreliable "green" alternatives. All done without an inkling of understanding of engineering, power generation, infrastructure, markets or the impact it would have on the population.

As is typical of politicians they changed the rules with no regard for anything except something they could campaign on. What do they care of the cost? They're not paying it. They're just stroking a pen. And the public.

If you want energy prices to come down you have to unleash the free market on it. If public investment is made it needs to be done with an eye to ROI instead of what they lobbyists are pushing for. Solyndra anyone? If you want people to choose electric cars, they should be focusing on making electricity cheaper, not making petro fuels more expensive to compete with the inefficient green power. Start building nuclear plants. A cost-effective way to make electricity with no greenhouse emissions that would reduce demand on fossil fuels and help free up supply. But Noooo! Nuclear is evil!

Let's face it, for the greenies, everything is evil. They don't like nuclear. They don't like hydro. They don't like coal. They don't like oil. They don't like gas. They're not fond of the bird-smoker solar installations. They have issues with bird-killer windmills. Nothing that works in reality pleases these people, so I'd suggest we stop listening to their rainbow and unicorn fart fantasies and start looking at practical solutions to these problems. Why isn't there more development of bio-fuels like blue-green algae? We could power most things diesel, or at least the significant amount of it with a carbon-neutral fuel and not have to do a massive overhaul of infrastructure. That would free up a tremendous amount of petroleum which would reduce our use of it. Instead, clueless people are clinging to the fantasy that electricity falls from the sky and is spotlessly clean and imagining that everybody is just going to buy an electric car in five years and plug it into an electrical grid that's already at it's limits. No big corporate lobby for the algae like there is for corn, I guess.

You're certainly right about big oil and lobbying, but you missed the corporations that are cashing in on windmills, ethanol, solar and electric vehicles. You're wrong about the golden goose too. The government is killing it, not the oil companies. They're just trying to wring out what's left before all of their investment turns into junk. You're also wrong about the notion that the left was trying to "develop alternatives" as if it was a benign thing. It's not. It may be well intentioned for the concerned who aren't looking to cash in, but it's failing horribly in the execution because the people executing it think electricity comes from the socket on the wall. I don't expect it to get any better until there's a significant change in the people running the show.

And BTW, if it's all just greed, why does the price of gas ever drop? Why doesn't it keep going up just because it can?
 

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