Gas prices

I had the exact opposite opposite, they wouldn't even allow me to test drive their EV's (pun intended)
I asked them why, well...turns out utility costs (electricity) is up, up to 20%
:rofl:

Fact: I never test drove an EV, but buying a Ford F150 is definitely on my Wish List :rofl:

samplenhold said:
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Oceanslider said:
It was down a bit at my local Costco today $5.59
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I filled up last night for $4.09 @ BP , all the rest of the stations within 7 miles are still $4.39

When traveling back home this past weekend on I-95 in Hardeeville SC, I paid $3.99 per gallon.
 
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Wholesale price of gasoline is $3.12 and dropping. Looks like the commodities traders are looking
for an unwind (read recession). I use this place....

Gasoline - Price - Chart - Historical Data - News

Gasoline decreased 0.12 USD/GAL or 5.83% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Gasoline - values, historical data, forecasts and news - updated on November of 2024.
tradingeconomics.com tradingeconomics.com
 
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qflyer said:
How exactly did cutting available land leases from 80% to 50% cause gas prices to go up? That 30% trump opened was never even sold, much less had time for companies to set up and start drilling. That process takes years.
So again, how did that order from Biden cause prices to go up? Remember, there are thousands of unused leases, big oil companies are making huge profits, and total US oil production is near record highs, and holding steady at or above the average production under Trump.

This is almost as entertaining as when right wingers say the keystoneXL shutdown caused gas to go up.
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Although not a direct affect, it’s about sentiment. If the government wants to kill an entire industry, it will impact that industry in many ways.


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mcapeed said:
Although not a direct affect, it’s about sentiment. If the government wants to kill an entire industry, it will impact that industry in many ways.


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So government wants to kill big oil, yet they keep giving big oil tens of billions of dollars in subsidies every year? Sorry, it just doesn’t add up.
 
Diesel is around $5.65 here in NJ, still, even though gas has dropped to $4.45.
 
Since Biden stated that the reason why gas is so much is because of Putin and the war. Then what has Putin done to make the price of gas lower since the war is still going on?
 
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Arjun said:
Gas prices are coming down a notch but very sure in the next several weeks they will rebound
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Prices are coming down because the futures buyers expect a decline in use due to the high prices and the end of summer travel. I think that the prices rose too quickly in the first few months of this year due to futures buyers expecting a much larger shortage of crude, which did not really happen. Now they are coming down a bit as the reality of the supply/demand sinks in. All I can say about oil and gas price forecasts is, in the 35+ years I was in the business, all predictions are a crap shoot. Even short-term price predictions are very hard to make. Its almost like a baseball game. Anything can happen.
 
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A recession is taking hold. I hope the other commodities come down, but I have not seen any sign of it.
qflyer said:
What’s Biden going to do to make them “rebound”?
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He went begging to the Saudi's for them to increase their oil production. They told him to go pound sand. Apparently that was Biden's big plan for oil production and it failed miserably. Biden's big plan is to make the average person suffer financially so they do not have money available for their purchases. That is called a recession and that is Biden's big plan.
 
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Parley said:
A recession is taking hold. I hope the other commodities come down, but I have not seen any sign of it.


He went begging to the Saudi's for them to increase their oil production. They told him to go pound sand. Apparently that was Biden's big plan for oil production and it failed miserably. Biden's big plan is to make the average person suffer financially so they do not have money available for their purchases. That is called a recession and that is Biden's big plan.
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Yet US oil production is higher today than it was when Trump left office. It's higher than when Trump took office. It's higher today than it was for the majority of Trump's presidency.

Comparing gas prices from Trump's second year in office (month of July), gas prices were $2.93/gal ($3.46 adjusted for inflation). Today in July of Biden's second year in office, gas prices are $4.35 and falling. So we have higher production, and prices within a dollar per gallon of where they were under Trump. What exactly did biden do to cause prices to rise despite increased US oil production? Could there be outside factors playing a role? Why don't you credit Biden with increased production?

This entire discussion is nothing but a big talking point to earn points for your team, truth and facts be damned.
 
One must also take exports into account too, as we in the USA do not refine light sweet crude. We export
the WTI for sour crude as refineries in the us do not refine good crude. Also refined products as such fuel oil etc.
must be included to make accurate estimates.
 
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qflyer said:
Yet US oil production is higher today than it was when Trump left office. It's higher than when Trump took office. It's higher today than it was for the majority of Trump's presidency.

Comparing gas prices from Trump's second year in office (month of July), gas prices were $2.93/gal ($3.46 adjusted for inflation). Today in July of Biden's second year in office, gas prices are $4.35 and falling. So we have higher production, and prices within a dollar per gallon of where they were under Trump. What exactly did biden do to cause prices to rise despite increased US oil production? Could there be outside factors playing a role? Why don't you credit Biden with increased production?

This entire discussion is nothing but a big talking point to earn points for your team, truth and facts be damned.
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Bwahahahahaha. What has Biden done to increase production?

Biden admin planning to define away ‘recession’ if GDP declines a second straight quarter - American Thinker
 
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