The thing to remember is that gas prices affects everything. As gas prices go up, the cost of transportation and shipping goes up, so the cost of groceries and other consumer goods go up, which means the cost of living goes up. Inflation, or even worse, hyperinflation, is one of the worst things that can happen to your 401k and retirement.The biggest thing is my gas prices. I use and average of 45 gallons a week between two cars.
Or Biden keeps signing EO's shutting down pipelines......
I get it. They're saying that Biden's efforts to counter the pandemic will, if he succeeds, raise gasolne prices. In that view, Trump was a genius for allowing the pandemic to get out of hand; he lowered gasoline prices.
That is like saying joe shutting down the Keystone pipeline helped the pandemic.
Let's look at that reasoning... (and assume that pipeline could have changed the supply of gasoline)
Trump botched the pandemic response, making it worse.
Rain fell on my garden making the soil moist
Things shut down as a result, with fewer people driving, using less gas.
As a result, my tomatoes grew faster
Gas prices declined.
I had lots of tomatoes.
Therefore:
If the pipeline was continued, the pandemic would be worse.
If I have lots of tomatoes, that will cause it to rain.
I have not had the ability to use that type of reasoning since I quit drinking heavily
Friday March 19th i paid $2.77 for real gas ( not the corn added junk). Now on Monday March 22nd i paid $2.89 a gallon
As the economy opens up, and more people travel, expect gasoline prices to rise. Did you really think they would stay low when demand went up?
In 2019, When the economy was at the best we have seen in 40 or so years, when unemployment was at a record low, the price of gas dropped.
As the economy opens up, and more people travel, expect gasoline prices to rise. Did you really think they would stay low when demand went up?
Yes. For the same reason the price is now rising:
Oil Falls As U.S. Gasoline Supplies Rise by Most Since January
December 10, 2019, 5:26 PM CST
Oil Falls As U.S. Gasoline Supplies Rise by Most Since January
This year...
U.S. oil wells, refineries shut as winter storm hits energy sector
Published Mon, Feb 15 20212:06 PM EST
https://www.cnbc.com/2021/02/15/oil-refineries-shut-as-texas-energy-industry-reels-from-deep-freeze.html
That's how it works. Rise in supply and or drop in demand brings down prices. Drop in supply and/or rise in demand brings prices up. At most, Biden might affect prices a bit by the stimulus; if people can pay the rent, they might be inclined to also buy gasoline or more of it. That's the point of a stimulus.
Which is the opposite time of the year - so, it proves zero
supply and demand, right?
As the economy opens up, and more people travel, expect gasoline prices to rise. Did you really think they would stay low when demand went up?
So i guess there was a huge reopening between friday and monday to cause the gas to go up.
Turns out economics doesn't care about the calendar. As you learned lower supply and/or higher demand results in higher prices, and lower demand and/or higher supply results in lower prices.
Calendars notwithstanding. Only if the season happens to affect one or both of those factors, will it matter.
Several things:
The deteriorating situation in Venezuela - "Venezuela has been a fairly significant exporter to the U.S. but its volumes have steadily fallen in recent years as its economy has collapsed. U.S. refiners will have to find another source of crude to replace the lost Venezuelan volumes, and to the extent they must pay higher prices to obtain that feedstock, the higher costs will be passed through to the consumer."
...
Routine refinery maintenance season has begun. - Late February is typically the time of year when many refiners begin taking their facilities temporarily offline for routine maintenance purposes. Refineries are very complex facilities with a high number of moving parts that operate under high temperatures and pressures, in good weather and bad. All of these factors and more require require that the facilities be shut down for a few weeks once or twice each year for routine maintenance.
...
The price for crude oil has gone up. - The whole purpose of the refining process is to break crude oil down into its component parts, including the gasoline and diesel we purchase at the pump. Because of this reality, the price of gas tends to fluctuate in direct relation to the price of crude. Between Feb. 12 and Feb. 27, the price for West Texas Intermediate rose from about $52.50 per barrel to over $57, or about nine percent. (note: production dropped like a rock during the winter storm which the Texas grid was unable to handle.
...
Barring a sudden drop in crude prices, U.S. consumers should expect gasoline prices to continue to rise slowly throughout March and April , as the changeover to producing summer blends takes place and people begin getting out and driving more as the weather gets warmer. This is something that happens every year.
Rising Gas Prices: 3 More Things You Need To Know
So let's look at SPRING 2019 - when we had one of the most robust economy's, and compare it to SPRING 2021
2019 -
National Gas Price Report for March 25th, 2019 | AAA Newsroom Gas $2.62 a gallon
US Retail Gas Price
2.954 USD/gal for Wk of Mar 22 2021
By comparing the prices from the same time period - when as you say economy people are beginning to travel and our economy is opening we see a .33 a gallon difference from 2019 to today.
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