re: This feels like a race to the ceiling re:gas prices.

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Last time this happened, I remember plenty of people trading in their low MPG vehicles for cars with higher fuel efficiency.

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That would be great if you could find one.

Same thing with the almighty electric cars. Huge lead times.

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Cost $82 to fill up a 4Runner today in Naperville.

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$65 to fill up an Accord today in Houston. This isn’t a huge deal for because I only fill up once 2!weeks but I feel for the people that have a long commute. This is going to get painful for them.

Thanks Byron

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Let me know the next time pump prices plummet overnight after oil has a bad day on the market.

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Here’s a plot of oil spot price (WTI) vs. gasoline retail price (regular, average across multiple regions) from 2005-present using weekly EIA data:



The data points are weekly as I mentioned, so you definitely can’t see overnight changes. Also note that the end date is Monday, 2/28 for the latest EIA data (which is on the graph). But there is a pretty clear trend. Generally, changes in price direction (meaning peaks and bottoms) for retail gasoline lag slightly behind crude oil prices by a week or so.

Right now it sounds like we are seeing motor gasoline prices trend about 3-5 days behind crude prices. I don’t have a good chart for daily data, but that’s what I’m seeing when I compare the trends to some of the numbers being thrown around in this thread. WTI and Brent both increased by about 20% from Friday last week to Tuesday this week.

Take from that what you will. It definitely feels like they get you on both ends with gas prices, but my opinion is that this is about 50/50 reality vs. psychology. Gasoline and diesel are subject to the same speculation woes as oil, so I’m certainly not going as far as to say it doesn’t happen at all.

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But careful. You will be crucified because apparently Biden has no control over gas prices. I was told in another thread.

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Do you work in O&G?

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We will see $200 a barrel and $7 a gallon before the end of the year.

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We may see a legit revolution in america if it gets to that point. The public can only handle so much. Gas hits $7 nation wide milk is $6+ a gallon along with every other food item doubling to tripling

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We may see a legit revolution in america if it gets to that point. The public can only handle so much. Gas hits $7 nation wide milk is $6+ a gallon along with every other food item doubling to tripling

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Despite the sentiment by the regressives on this board who refuse to acknowledge the incompetent admin.

There may very well be a revolution at the ballot box in Nov.

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Lol you argued with people who actually work in the industry in the other thread and got your arse handed to you.

You didn't like that it didn't confirm your biases so you claimed south Louisiana oil baws were leftists lmao

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Just because they work in OG doesn't mean they understand supply side econ.

And the argument by the OG baws is identical to the leftist talking points. I can't help it if they side with the left in that argument. Not my problem.

I stand by the statement that the pres DOES have an impact on gas prices. Whether directly or simply through rhetoric.

I don't care if I get my arse handed to me as I stand by my belief.