Economy Gas prices

deadon said:
Aw so he does control gas prices? I'll have to remember this when prices go up again.
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Blaming him for gas prices was the rightwing schtick, so why are you guys now complaining when he takes credit for lowering gas prices. A clear double standard.
 
Scerpi said:
No it wasn't... look my my post after....lol

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It was the pandemic, how else do you think the price of gas went from around $3ish a gallon to $2ish during 2020.
 
Gas has gone down 50 cents in the last month near me.
Those Biden stickers "I did that" have me chuckling everytime I fill up now
 
$1.18 in Alberta this morning with my UFA card
 
MicroBrew said:
Blaming him for gas prices was the rightwing schtick, so why are you guys now complaining when he takes credit for lowering gas prices. A clear double standard.
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Ok guy paying .50 less a gallon isn't shit. It's still 4.89 a gallon in NV and 5.39 in CA.
The issue is he said this was putins price hike. Did putin lower the price now?
Get it back to 3.00 a gallon and I'll give him or putin credit.
 
deadon said:
Ok guy paying .50 less a gallon isn't shit. It's still 4.89 a gallon in NV and 5.39 in CA.
The issue is he said this was putins price hike. Did putin lower the price now?
Get it back to 3.00 a gallon and I'll give him or putin credit.
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Different forces push the prices in different directions. There are tailwinds and headwinds, this is called the market fundamentals. SPR release (any president would have done this) + fear of recession + demand destruction from high prices/china covid is the bearish case. Continuation / escalation of the war and possibility for further sanctions or eu being further cut off from fuel is on the other side along with other factors like say a recession not happening or china getting a handle on covid.
 
TUFNewb said:
Different forces push the prices in different directions. There are tailwinds and headwinds, this is called the market fundamentals. SPR release (any president would have done this) + fear of recession + demand destruction from high prices/china covid is the bearish case. Continuation / escalation of the war and possibility for further sanctions or eu being further cut off from fuel is on the other side along with other factors like say a recession not happening or china getting a handle on covid.
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The world is a mess. Economies in the shitter all over. 5% still working from home. Teslas and other EVs all over the place.
We have countries filling reserves with cheap Russian oil. So that excuse is gone because countries still buying their oil. Global is global right? That's what they told us.
So what's the issue? Looming recession? Less demand?

It's all of the above and the EPA making it next to impossible for refineries to up production as they close and new refineries not opening.
The price should be much lower.
 
deadon said:
The world is a mess. Economies in the shitter all over. 5% still working from home. Teslas and other EVs all over the place.
We have countries filling reserves with cheap Russian oil. So that excuse is gone because countries still buying their oil. Global is global right? That's what they told us.
So what's the issue? Looming recession? Less demand?

It's all of the above and the EPA making it next to impossible for refineries to up production as they close and new refineries not opening.
The price should be much lower.
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Yes recession and demand destruction are bearish as I said. EV demand destruction is not significant enough yet to move the markets in the short term. There is no one issue, there are various factors pulling the market in different directions sometimes gaining an advantage sometimes not.

321 crack spread, demand, and inventories determine refinery production. Not the EPA.
 
TUFNewb said:
Yes recession and demand destruction are bearish as I said. EV demand destruction is not significant enough yet to move the markets in the short term. There is no one issue, there are various factors pulling the market in different directions sometimes gaining an advantage sometimes not.

321 crack spread, demand, and inventories determine refinery production. Not the EPA.
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When was thr last time a refinery built in the US?
 
eighterumg5 said:
Gas has gone down 50 cents in the last month near me.
Those Biden stickers "I did that" have me chuckling everytime I fill up now
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The current national average is $4.36 and you’re considering this a “win”?

I’ll chuckle with you when it gets back to $3.
 
I paid 5.39 at Chevron out in Southern AZ last Friday.
 
DrDune said:
The current national average is $4.36 and you’re considering this a “win”?

I’ll chuckle with you when it gets back to $3.
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No I don't consider this win. I think it's funny that now the prices are going down more people are trying to get rid of the stickers
 
eighterumg5 said:
Gas has gone down 50 cents in the last month near me.
Those Biden stickers "I did that" have me chuckling everytime I fill up now
Click to expand...
Gas finally went down congrats! I guess it's near the lowest point just before Biden got into office...
 
deadon said:
When was thr last time a refinery built in the US?
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New refineries are not needed, just the ones that were shuttered during nosedive from pandemic need to reopen. The problem is no one wants to invest in them now because oil is a very risky bet long term. This is the result of capitalism not regulation. This was an issue with refinery capacity before the pandemic too, it just doesn't make sense to invest when long term there will be a broad transition.
 
The right were crying gas prices were too high. Now they are crying that they are dropping?

<mma4>

It seems that they will continue to cry and hope for a complete economic collapse even though a collapse wont happen.
 
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