professor That's like thanking the salesman that increases the price of an item by 40% and then offers a 10% discount. Maybe I would thank him if I never knew the price to begin with, but this all happened right in front of me. I do appreciate that it is lower now, but I would rather that it never went significantly higher in the first place.
Gas Prices, am I right?!
Just thank Mr. capitalism. Biden or and other POTUS have very little to do with gas prices.
Oil companies charge what they can get away with be it the Arabs,Russkies or the good ole USA.
They all love money and the more of it the better.
propman Capitalism seemed to benefit the consumer more during the last administration.
johnnydoom correct. Demand was low during covid. Wasn't oil selling as low as $10 barrel? Great times indeed.
It was pretty consistently lower throughout the previous administration. Lower than the one that preceded it (although that one was received very high from Bush) and lower than the one that followed. Covid affected it, but not starkly, This is price per liter for some reason, but the quickest I could find.
johnnydoom kind of surprised it wasn't lower during covid especially given the low demand. Guess the oil gods put a line in the sand at approx. $ 2 per gallon.
…. So I held off. Get it around here for less.
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propman
Stockholders will verify this as well as csuite execs.
If pols try to control prices,
Everything has a cost in oil. When oil prices increase the price of many ( even most ) things can be impacted . Petroleum products are the main fuel for cars, trucks, trains and planes so doesn't matter if it's your daily starbucks coffee or the toothbrush you use the cost is impacted by the price of oil. Of course there are many businesses that try to absorb the price especially if they are in a highly competitive market. Petrochems are used in many packaging materials, and to make the electronics in your computers and phones and the clothes you wear, even in the food you eat.
farming apparently uses the most oil products in fertilizers and pesticides. Estimates are that almost 300 gallons of oil are needed to bring one cow to full grown.
A simple strategy that can help to try and offset the impact of oil stimulated inflation is to invest in a basket of oil stocks. Now is a good time as producers are making money hand over fist, paying down debt and returning capital to shareholders via share buybacks and dividends. Investing in grocery company stocks also makes sense. The only stocks I held during the pandemic were 2 of our main grocery stocks. Ride the gravy train ....
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Yipsy We should be seeing food prices dropping because of lower fuel/transportation costs.
The discussion in here is about gasoline.
If you want to discuss transportation costs for food, or just about anything else that gets 'delivered/moved/consumed' across the U.S., you'll need to be discussing diesel fuel prices. And the mpgs of the vehicles transporting such.
Even the delivery of gasoline is dependent on diesel!!!
Yipsy Anyone expecting any prices to drop, is just not living in the real world today. Even if fuel costs would drop to 1960's levels, it would only mean more profit for those using it. Wages will not drop. Product pricing would not drop. Why should it, due to just the 1 thing??
If a company cannot take back your wage increase, why would they ever take back a price increase? And if they were able to take back wages, and prices dropped.....where would the line of relief fall where people are gaining in money in pocket vs. outgo??????
Plus, because people do not realize it, the gvt. has very strict regs on the trucking industry. And they are getting stricter. And it has caused slowdowns in delivery times, for the most part. Speaking here about OTR trucking, not delivery services.
So, fuel savings would really have no bearing on their prices. That is only a small part of it all.
jmo
Rex, you get gas yet this month?
Weirfan A simple strategy that can help to try and offset the impact of oil stimulated inflation is to invest in a basket of oil stocks.
Hah-hah! That's exactly what Vanguard does.
Yipsy I take exception of Janice's view of that time. Theater of the mind sells. Low gas is critical for so many reasons. To make up reasons why it isn't important is wild.
I don't think you understood or appreciated the parody posted by Janice. That wasn't the point. Golly, don't you get satire on your planet - the one that has that theater?
Yipsy Theoretically, if you don't, someone else will see an opportunity to undercut your business and still make a nice profit due to lower costs. At least if the market was free that is what would happen.
Yipsy Well, your reply says that you are not the consumer, you are the retailer. And just because you saved that (now) $700, does not mean those savings will be passed to consumer. Because you know the consumer is now making a lot more money and tolerates current pricing. ("Specials" notwithstanding, of course)
And if you do decide to drop the price way down to 'what used to be'......you're going OOB. All of your overhead has also gone way up, and it will never come down!!