WTH happened to gas prices?

5,477 Views | 51 Replies | Last: 6 days ago by P.U.T.U
ABATTBQ11
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About month ago a gallon of regular was $2.69. Now I'm seeing $3.15 all over the place. What happened?
Ragoo
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The government isn't releasing reserves to artificially create supply.
Rapier108
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Election is over.

The government is no longer using the SPR to keep help the Democrats and is now having to buy oil to refill the SPR so taking oil off the market.
C@LAg
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Ragoo said:

real easing
so are they fake easing it?
MouthBQ98
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The huge SPR releases stopped and there's been some realignment in consumption, namely it is heating oil season, amongst other things.
Franklin Comes Alive!
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Another cornpop miracle
Dan Scott
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US dollar is down from the highs and China is opening up.
Muy
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Rapier108 said:

Election is over.

The government is no longer using the SPR to keep help the Democrats and is now having to buy oil to refill the SPR so taking oil off the market.


Aka the only solution Biden thought about to lower gas prices. Rob Peter to pay Paul, as usual.
Gator92
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Freeze in December forced several gulf coast refining shut downs.

ETA...

So climate change...
geoag58
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This is the direct result of leftists doing things to affect production at the beginning of bidens term. The left is intentionally trying to damage the economy.
Fight against the dictatorship of the federal bureaucracy!
Hubert J. Farnsworth
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Rapier108 said:

Election is over.

The government is no longer using the SPR to keep help the Democrats and is now having to buy oil to refill the SPR so taking oil off the market.


This. A bunch of posters here called it before the election. It was so obvious what they were doing with the SPR.
rocky the dog
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Elections are when people find out what politicians stand for, and politicians find out what people will fall for.
schmellba99
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Rapier108 said:

Election is over.

The government is no longer using the SPR to keep help the Democrats and is now having to buy oil to refill the SPR so taking oil off the market.


Except we arent even filling reserves last i checked. So even worse.
pacecar02
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Huh, I thought draining the SPR and other policies would have fixed the problem, weird
beanbean
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ABATTBQ11 said:

About month ago a gallon of regular was $2.69. Now I'm seeing $3.15 all over the place. What happened?
The White House mouthpiece already answered this.....she said it's republicans fault we are paying higher prices.
Ragoo
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C@LAg said:

Ragoo said:

real easing
so are they fake easing it?
releasing

Sorry on the typo
Buck Turgidson
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Dan Scott said:

US dollar is down from the highs and China is opening up.


This is the big change in the last month or so. Will probably worsen as we head into summer driving season.
TheCurl84
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I'm convinced the math behind gas prices is too complex for me.
The Dirty Sock
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LOS PUTIN!!!!!!!!
YouBet
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Still not convinced SPR had much of any impact here. How many cents per gallon did it account for one way or the other?
fka ftc
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YouBet said:

Still not convinced SPR had much of any impact here. How many cents per gallon did it account for one way or the other?
Seriously? It had zero impact. THe market is much much broader and more volatile than the SPR can ever impact.

ANd when it was cheaper a few weeks ago Biden declined to fill it back up a little. Why?

SPR spigot was a head fake by Biden that seems to mostly have worked. MSM and all...
Dan Scott
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SPR basically added 1M barrels of the oil to market. Without it, especially in the first few months where there was a big fear premium in the market, oil would have gone to $150. Probably saved .50/gallon. There's a reason OPEC was pissed about it.
YouBet
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fka ftc said:

YouBet said:

Still not convinced SPR had much of any impact here. How many cents per gallon did it account for one way or the other?
Seriously? It had zero impact. THe market is much much broader and more volatile than the SPR can ever impact.

ANd when it was cheaper a few weeks ago Biden declined to fill it back up a little. Why?

SPR spigot was a head fake by Biden that seems to mostly have worked. MSM and all...
That's always been my take which is why I always ask the question.

I remember when Obama was going to do this when oil prices skyrocketed above $100. (I was heavily into tracking this at the time for work because it directly impacted us).

Even left leaning economists at the time said it was a pointless, political endeavor that would do nothing. That has either been memory holed or everyone simply forgot.

It doesn't move the needle. All he managed to do was drain it while virtue signaling.
Secolobo
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ABATTBQ11 said:

About month ago a gallon of regular was $2.69. Now I'm seeing $3.15 all over the place. What happened?
Elections have consequences…
halfastros81
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I'd say perception/reality of a shrinking economy has had some negative impact on demand. To some degree it's discretionary spending. Inflation on other non discretionary items like food , power , clothing also leaves less for discretionary gas spending. As someone also mentioned, gasoline supply has also recovered some after the big freeze event .

Diesel on the other hand hasn't moved nearly as much because of steadier demand.
C@LAg
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Secolobo said:


Selections Elections have consequences…
FIFY
Ag87H2O
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Rapier108 said:

Election is over.

The government is no longer using the SPR to keep help the Democrats and is now having to buy oil to refill the SPR so taking oil off the market.
Yep. And wait to see what happens later this year when they have to go back to a summer blend.

Once again, Biden and the Democrats played their minions for fools, and they're pretty much right. They know their gullible constituents will fall for anything they say as long as they keep promising them largesse from public funds.
74OA
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Here's what AAA says is causing the rise. PRICES
JohnLA762
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Inb4 "the economy is booming and people have so much discretionary income, they are spending freely driving up gas prices/inflation" idiots.

C@LAg
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74OA said:

Here's what AAA says is causing the rise. PRICES
It is freaking late January.

No One is
taking advantage of the recent milder weather in much of the nation by fueling up and hitting the road.
74OA
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C@LAg said:

74OA said:

Here's what AAA says is causing the rise. PRICES
It is freaking late January.

No One is
taking advantage of the recent milder weather in much of the nation by fueling up and hitting the road.
Forgive me if I trust AAA's expertise over your opinion.
Mulberrywildman
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Do we have a thread from that "wbtnumbernumbernumber" guy mentioning how we need to reapply the gas pump stickers he said we needed to remove when gas dropped a few cents?
AggieVictor10
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Biden ruined it.
Less virtue signaling, more vice signaling.
OaklandAg06
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Republicans took over the house so now a recession is imminent and gas prices are shooting up.

/liberal media
AGHouston11
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The conditioning has happened- it's not even really news now
We think 2.95 is cheap
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