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re: Average U.S. Gasoline Price Set to Drop Below $3 for the First Time Since 2021
Posted on 10/28/24 at 1:16 pm to BayouBlitz
Posted on 10/28/24 at 1:16 pm to BayouBlitz
quote:
Well that's stupid. We're producing more oil than ever. And that's not how the oil market works.
It's a sad state that we can't recognize sarcasm in anything with Trump in it.
1
Posted on 10/28/24 at 1:25 pm to ragincajun03
Hmm, doesn't it always drop this time of year with decreased demand and end of summer blend BS?
Posted on 10/28/24 at 1:27 pm to RandomPoster
quote:
decision to empty the federal reserve
Yeah, this didn't happen
Posted on 10/28/24 at 1:27 pm to ragincajun03
$2.19 a gallon at circle k yesterday with their loyalty program and got a free 42 oz drink. I don't give a frick why, just happy it is so no matter how short lived it is. Filled up motorhome and truck and did not need to see a mortgage banker.
Posted on 10/28/24 at 1:28 pm to Stinger_1066
quote:
And also, KSA said they are going to flood the market because they want to put Russia out of business.
If they do that, the target is US production, not Russia.
Posted on 10/28/24 at 1:29 pm to Green Chili Tiger
quote:
Yeah, this didn't happen
They drew down a little of the reserve a while back, but it had a very low impact on prices. And none of that has mattered for at least the past 6 months.
Posted on 10/28/24 at 2:46 pm to ragincajun03
I’m in southern Ohio for a few days and Gas jumped up .40 today. Went from 2.79 to 3.19
Posted on 10/28/24 at 4:39 pm to TBoy
quote:
If they do that, the target is US production, not Russia.
Well, that too. But I think they are tired of Russia, who is a member of OPEC+, undercutting them.
Posted on 10/28/24 at 4:42 pm to lsudirtbag
quote:
Hmm.........do they think we are stupid?
The average person is absolutely stupid enough to believe this was the current administration’s plan working.
Then you have to worry about the half of the country that is actually more stupid than that.
Posted on 10/28/24 at 4:43 pm to BayouBlitz
quote:
We're producing more oil than ever. And that's not how the oil market works.
Posted on 10/28/24 at 4:50 pm to ragincajun03
Meanwhile Gav Newsome just approved 47 cent tax hike on gas 
Posted on 10/28/24 at 5:28 pm to Teufelhunden
quote:
It's a sad state that we can't recognize sarcasm in anything with Trump in it.
Snowflakes all abound on all sides of the political spectrum.
Posted on 10/28/24 at 5:31 pm to ragincajun03
Shippers use the US Dept of Energy national average price of a gallon of diesel as the base for calculating fuel surcharges for shipments.
If one looks at fuel surcharges price averages the first week of Nov of each year its amazing:
Nov 2019: 20.65% Trump
Nov 2020: 20.30% Trump
Nov 2021: 27.89% Biden
(Hit 41.66 Mar 22, first time over 40)
Nov 2022: 42.47% Biden
Nov 2023: 34.37% Biden
Nov 2024: 26.27% (this week) Biden
The rate is dictated by the gallon price. For this week the average gallon price is between 3.56-3.59. At the 42.47% listed above, that gallon price range avg was 5.32-5.36 per gallon.
The price per gallon peaked at 45.71% for a month in Jun 22 which is 5.69-5.72 per gallon
Draw your own conclusions how policies mold prices
If one looks at fuel surcharges price averages the first week of Nov of each year its amazing:
Nov 2019: 20.65% Trump
Nov 2020: 20.30% Trump
Nov 2021: 27.89% Biden
(Hit 41.66 Mar 22, first time over 40)
Nov 2022: 42.47% Biden
Nov 2023: 34.37% Biden
Nov 2024: 26.27% (this week) Biden
The rate is dictated by the gallon price. For this week the average gallon price is between 3.56-3.59. At the 42.47% listed above, that gallon price range avg was 5.32-5.36 per gallon.
The price per gallon peaked at 45.71% for a month in Jun 22 which is 5.69-5.72 per gallon
Draw your own conclusions how policies mold prices
This post was edited on 10/28/24 at 5:38 pm
Posted on 10/28/24 at 5:32 pm to LsuNav
quote:
Still $5 in California. We had $3 gas when Trump was in office.
I could be misremembering, but I think since January 2021, California's great "leaders" added additional taxes and regulations that have caused your average gasoline price to be higher. Not $2/gallon worth, but has contributed to an uptick that was only state or locally influenced.
Posted on 10/28/24 at 5:33 pm to ragincajun03
This post has more downvotes than upvotes solely because people here don't like it's happening in Biden's end term as to not pursuade people prices are getting better as to not convince them to vote blue
This post was edited on 10/28/24 at 5:34 pm
Posted on 10/28/24 at 5:39 pm to ragincajun03
Historically, oil prices decline as the economy slides into recession.
Posted on 10/28/24 at 5:43 pm to Woolfpack
quote:
Historically, oil prices decline as the economy slides into recession.
Yep.
Late 2008
Late 2015 to early 2016
Spring 2020
Really hoping that's not what we're seeing here.
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