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Started By
Message
re: Gas is no longer close to $5/gallon.....
Posted on 9/12/22 at 5:14 am to OweO
Posted on 9/12/22 at 5:14 am to OweO
quote:
Nothing has gone up to justify doubling the price of something. But at the same time there are people still trying to make up for their losses during covid.
Chemicals we sell have seen raw material costs increase 2-3 times in the past 18 months.
Freight from 3rd party vendors has more than doubled this year.
Diesel is wide what it was a year ago.
We just had a thread about the rail workers threatening to strike.
How many places, especially service industry, have help wanted signs and have been forced to dramatically increase the pay for their people?
All of these contribute in small ways to price increases that eventually add up to doubling the price.
0
Posted on 9/12/22 at 5:21 am to Hammond Tiger Fan
Two Words
Mid
Terms
Mid
Terms
Posted on 9/12/22 at 5:24 am to jaytothen
quote:
Literally the cost of everything has tripled.
quote:
How are you always consistently so wrong every time?
That is a bold statement following your opener which is clearly ridiculous hyperbole.
Posted on 9/12/22 at 5:31 am to Hammond Tiger Fan
quote:
Gas is no longer close to $5/gallon.....
Election season. If the (D)ifferent party wins the midterms, we'll be back to $5 by Christmas.
Posted on 9/12/22 at 6:05 am to Hammond Tiger Fan
quote:
And what's the reason for that? I'm sure there's some bullshite arse excuse economists will manufacture.
Biden sending to Europe.
LINK
quote:
A fleet of ships carrying diesel, one of the world’s most important fuels, is heading for European markets facing energy-security threats from high temperatures, soaring gas prices, and Russian disruption.
This post was edited on 9/12/22 at 6:07 am
Posted on 9/12/22 at 6:05 am to Hammond Tiger Fan
You'll see no change.
The higher gas prices were used as an excuse to raise prices for everything across the board, whether they were affected or not.
The higher gas prices were used as an excuse to raise prices for everything across the board, whether they were affected or not.
Posted on 9/12/22 at 6:17 am to Hammond Tiger Fan
Inflation was occurring long before the spike in gas prices
$10 trillion in Covid stimulus in 2 years will do that along with the manufactured shortages Dims are creating
$10 trillion in Covid stimulus in 2 years will do that along with the manufactured shortages Dims are creating
Posted on 9/12/22 at 6:21 am to Tempratt
Well, the world moves on diesel, jet fuel and HFO. Those prices are still high as Eagle arse.
Posted on 9/12/22 at 6:28 am to Hammond Tiger Fan
Brandon is still printing 60 billion e eey other day to send to Zelensky
Posted on 9/12/22 at 6:31 am to AXR735322
quote:
due to the administration flooding the market with the strategic reserves.
that's not how it works
Posted on 9/12/22 at 6:33 am to Hammond Tiger Fan
Wait until after the midterms. Gas will go back up.
This post was edited on 9/12/22 at 6:35 am
Posted on 9/12/22 at 6:40 am to Hammond Tiger Fan
Look for gas prices to resurge after midterms
Posted on 9/12/22 at 6:41 am to AXR735322
quote:
just feel like the price has gone down due to the administration flooding the market with the strategic reserves
Nope. Summer blends ending and demand dropping. Biden will claim it is his policies starting to work. LGB.
Posted on 9/12/22 at 6:42 am to lsufan1971
quote:
Biden sending to Europe
Not really Biden, just capitalism.
Posted on 9/12/22 at 7:05 am to HippieTiger
Sounds like you’re just as brain dead as the potato head n chief
Posted on 9/12/22 at 7:12 am to AXR735322
quote:
To me it just feels like a setup. I feel like the Biden administration is doing everything possibly to get and keep gas prices down before the midterms
That's very cynical
Posted on 9/12/22 at 7:19 am to Hammond Tiger Fan
Rising gas prices were just one aspect.
We artificially injected over $2T into the economy in under a year. The Dollar is a product like anything else, when you create a massive surplus of them within the economy it pushes down their value.
COVID pushed a lot of Boomers into retirement, the extra social program benefits made it easier for people to not need to work (or work as much). This helped exacerbate supply chain issues. Because of this, wages increased incredibly in order to retain/attract employees.
While gasoline is going down (a decent amount of that is due to draining the SPR, once that stops in November we can expect prices to go back up at least some as the price increase was due solely to supply v demand), natural gas and coal are still on an upward track (both of them are MULTIPLES of their pre-COVID prices). This is fueling higher electricity prices here and far higher prices in Europe (thanks to Russia turning off the spigot). While natural gas is priced far more domestically, Europe will be paying a premium if they don't have a mild winter and that sort of demand will drive our prices up (as it becomes more financially feasible to sell to Europe instead of keeping it here).
The price of natural gas also has other impacts. For instance, natural gas is the primary method for infusing fertilizer with nitrogen. This means fertilizer increases in price so any foods grown with fertilizer will increase in price (including livestock being fed, even in part, by these foods).
All of these other things have added to inflation and are likely to either increase inflation over the next few months, or at least keep it from dropping quickly (don't expect it to be below 5% before 2023).
We artificially injected over $2T into the economy in under a year. The Dollar is a product like anything else, when you create a massive surplus of them within the economy it pushes down their value.
COVID pushed a lot of Boomers into retirement, the extra social program benefits made it easier for people to not need to work (or work as much). This helped exacerbate supply chain issues. Because of this, wages increased incredibly in order to retain/attract employees.
While gasoline is going down (a decent amount of that is due to draining the SPR, once that stops in November we can expect prices to go back up at least some as the price increase was due solely to supply v demand), natural gas and coal are still on an upward track (both of them are MULTIPLES of their pre-COVID prices). This is fueling higher electricity prices here and far higher prices in Europe (thanks to Russia turning off the spigot). While natural gas is priced far more domestically, Europe will be paying a premium if they don't have a mild winter and that sort of demand will drive our prices up (as it becomes more financially feasible to sell to Europe instead of keeping it here).
The price of natural gas also has other impacts. For instance, natural gas is the primary method for infusing fertilizer with nitrogen. This means fertilizer increases in price so any foods grown with fertilizer will increase in price (including livestock being fed, even in part, by these foods).
All of these other things have added to inflation and are likely to either increase inflation over the next few months, or at least keep it from dropping quickly (don't expect it to be below 5% before 2023).
Posted on 9/12/22 at 7:21 am to fightin tigers
quote:
Not really Biden, just capitalism.
Nope.
US released oil from the reserve, it was a Federal decision.
Its not based on market economies, it was a command decision..
This post was edited on 9/12/22 at 7:22 am
Posted on 9/12/22 at 7:21 am to Hammond Tiger Fan
quote:They weren't. There were many other causes.
Since high gas prices were basically the excuse of raising prices on damn near everything
Posted on 9/12/22 at 7:22 am to AXR735322
Release of oil from Strategic Petroleum Reserve has very minimal impact on gas prices.
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