Economy Gas Prices

[ermac88]

I tend to think that people who claim that presidents are a significant factor (or the only factor, or a main one, or whatever) in gas prices are bullshitting because they're never consistent about it (when it's up, it's because the president they don't like, but then they never say it's down because of the president they don't like, and vice versa). But I wonder if there are just people who have really short attention spans and don't question political propaganda that much and legitimately believe it.

its become a running joke

They blame the president, but totally opposed to nationalizing gas or government intervention with private companies. "dat commie shit"




Unless of course they're woke? Whatever that means.

 

[NickNick]

It blows my mind people still think the president directly controls gas prices, so stupid. Gas prices have been going down since the spring time.

 

[djacobox372]

They got down to 81 cents a gallon in my area during the Clinton years though. I remember it well. I was a teenager delivering pizzas as my job. I got my wage, plus tips, plus 50 cents per pizza I delivered to cover gas. Sometimes I’d have 5-6 orders just going to the apartment complex across the street on a Friday.

Gas prices didn't change much during the Clinton Years.. started at $1.13, peaked at $1.23, ended at $1.06.

Regional prices vary, but those are the averages.

 

[Otto!]

Im gonna start making jerky out of the crickets in my yard sir lol.

On another note, you make any new wood stuff sir?

You will eat teh bugz!

Getting my workshop setup in my new place, and next step is my dust collection system. Hopefully I’ll be up and running by next week.

 

[StonedLemur]

You will eat teh bugz!

Getting my workshop setup in my new place, and next step is my dust collection system. Hopefully I’ll be up and running by next week.

Lookin forward to seeing your new stuff sir.
Much love

 

[LMP]

Well this is slightly better than suggesting that we should go back to when droves of people were dying of covid for those awesome gas prices when I wasnt driving anywhere.

I mean Trump signed a two year agreement with OPEC to cut production for two years during covid which led to sky high prices during recovery. Had massive impacts on inflation. Amazing how fast people forget things they don't like

 

[NoSmilez]

Egg prices are pretty high. I think I was looking at 6 bucks for a dozen?

 

[TeTe]

I don't know about previous elections but demand is down for oil now, a lot of it to do with Chinese recession and the glut of production the US.

 

[Jar of Flies]

They got down to 81 cents a gallon in my area during the Clinton years though. I remember it well. I was a teenager delivering pizzas as my job. I got my wage, plus tips, plus 50 cents per pizza I delivered to cover gas. Sometimes I’d have 5-6 orders just going to the apartment complex across the street on a Friday.

My first job was pumping gas (I grew up in NJ where by law you can’t pump your own gas.) I distinctly remember the cost being 1.04 on my first day and people complaining that it was over a dollar. This was in 1999.

 

[Sinister]

I mean Trump signed a two year agreement with OPEC to cut production for two years during covid which led to sky high prices during recovery. Had massive impacts on inflation. Amazing how fast people forget things they don't like

Clearly that was the work of Obama/Biden!!

 

[irish_thug]

Beef is becoming a luxury these days.

I was shopping the other day, $24 for 4 pieces of Oxtail. OXTAIL!!!!

 

[Otto!]

I was shopping the other day, $24 for 4 pieces of Oxtail. OXTAIL!!!!

Pics of oxtail stew please!

 

[irish_thug]

Pics of oxtail stew please!

#toolate

 

[Andy Capp]

The main reason for the price changes is the difference in formulation of the gas according to seasonal differences, which in turn have different costs to the producer.

https://www.gasbuddy.com/go/summer-blend-and-winter-blend-gasoline

​

THE DIFFERENCE BETWEEN SUMMER AND WINTER GASOLINE​

Seasonal temperatures and government regulations make a big difference in the type of gasoline we use in our vehicles.

Summer Gasoline​

In the warmer months, gasoline has a greater chance of evaporating from your car’s fuel system. This can produce additional smog and increased emissions. Refiners reduce the possibility of gas evaporation in your vehicle during the summer by producing gasoline blends with lower Reid vapor pressure (RVP), or lower volatility. These blends vary from state to state and region to region due to RVP state regulations. They also vary by octane level.

Cost for your wallet: According to NACS, this higher-grade fuel can add up to 15¢/gal to the cost of your fill-up. This excludes the increased cost due to summer fuel demand, which can vary between 5¢-15¢/gal, depending on region. More stringent requirements (like California) can mean even higher prices.

Winter Gasoline​

In winter, gasoline blends have a higher Reid vapor pressure, meaning they evaporate more quickly and allow gasoline to ignite more easily to start your car in cold temperatures. This blend is cheaper to produce, resulting in lower gas prices at the pump from late September through late April.

Cost for your wallet: Prices typically fall 10¢-30¢/gal starting in mid/late September through late November as gas stations switch to winter gasoline and demand for gasoline falls seasonally as we start staying closer to home. Many retailers continue to sell summer gas until their inventories run out before selling winter gasoline. Hurricane season can also affect prices, ending in a squeeze just before the switch as refiners don’t want excess expensive summer gasoline sitting around especially if refineries are in the path of a major storm.

May 1: Fuel terminals are required to sell only summer gasoline on May 1, while gas stations have until June 1 to complete the changeover to summer gasoline. The switch from winter to summer gasoline is one of the major factors behind seasonal fuel price increases in May.

September 15: The last day that EPA requires summer gasoline is September 15, but most refiners start producing it again in late August and will draw down the remaining summer supply. In addition, gasoline demand falls as temperatures seasonally drop, leading gas prices to “fall” throughout the fall (a good way to remember it!). Starting September 16, gas stations can start offering non-summer, or “winter” gasoline.

 

[HARRISON_3]

And what’s the deal with airline food?

 

[ermac88]

And what’s the deal with airline food?

Thanks Obama

 

[jx820]

I tend to think that people who claim that presidents are a significant factor (or the only factor, or a main one, or whatever) in gas prices are bullshitting because they're never consistent about it (when it's up, it's because the president they don't like, but then they never say it's down because of the president they don't like, and vice versa). But I wonder if there are just people who have really short attention spans and don't question political propaganda that much and legitimately believe it.

It's the silliest election issue. There are VERY few ways the president impacts that price.

The primary way would be releases from or purchases for the strategic national reserve. I believe the last release that would increase supply and drive price down, was in 2022, and the last purchase that would drive up demand and drive up the price was about 6 weeks ago.

The other way is the president can control federal land leases for drilling/pumping. Which Biden issued a record number in his first 6 months that are now years later actually producing adding to supply.

The administration has handled both of those things beautifully, but big picture it has little to nothing to do with the president. It's a BS talking point.

I would LOVE it if anyone would bring up Don Jr's gas price tweets in an interview with him now. I don't think it would change a thing, but it'd be nice to see him tap dance around how the price in the midterms was due to Biden, but now that it's like $2.65 a gallon it's totally not.

 

[Jack V Savage]

It's the silliest election issue. There are VERY few ways the president impacts that price.

The primary way would be releases from or purchases for the strategic national reserve. I believe the last release that would increase supply and drive price down, was in 2022, and the last purchase that would drive up demand and drive up the price was about 6 weeks ago.

The other way is the president can control federal land leases for drilling/pumping. Which Biden issued a record number in his first 6 months that are now years later actually producing adding to supply.

The administration has handled both of those things beautifully, but big picture it has little to nothing to do with the president. It's a BS talking point.

I would LOVE it if anyone would bring up Don Jr's gas price tweets in an interview with him now. I don't think it would change a thing, but it'd be nice to see him tap dance around how the price in the midterms was due to Biden, but now that it's like $2.65 a gallon it's totally not.

Just to add to this excellent post, the leasing channel affects the delta of U.S. production (with a lag, as you said), but the impact on the level and especially on the level of world production, which is what drives prices in combination with world demand, is barely detectable. I've invited people to do the math before, plugging in their own assumption. There's no way that any plausible assumptions will justify the hacky discourse around the issue.

 

[Andy Capp]

Just FTR I can tell you gas prices in 14 states were mostly between $2.80 and $3.20/gal, when going from Nevada to Maine over the past week. Compared to Canada that's pretty good. What's the complaint, exactly?

 

[cincymma79]

It blows my mind people still think the president directly controls gas prices, so stupid. Gas prices have been going down since the spring time.

They go up and down at the same time every year. It’s what they are vs the same time the last 4 years that matters.