Gas almost $7 a gallon

[ZiprHead]

Holy crap! Gas prices here have gone up 40 cents/gallon over the weekend.

 

[Hermit]

It's come down considerably here, from $2+ a litre to around $1.60, just in the last few days

Did Biden release gas from your reserves too.

You must be kidding! It is an indisputable fact, my dear ZiprHead, that every time fuel prices go up it is Biden's fault, and every time they go down it is Trump's achievement. Yes, even here in Australia.

The price of 91 octane petrol at my local fuel stop has dropped from $2.06/l ten days ago to $1.89 last Monday. Thank you, Donald. You're a genius.

Down to $1.73 as of last night. Maybe I should have topped up my tank.

 

[bleubird]

Do't drive Do't give a shit, Got a nice electric assist bike,fuck cars! Sorry for you poor suckers that have to drive at 14 mph in traffic.NOT!

 

[TSwizzle]

$5.30 at Costco. Down a bit from a few weeks ago.

$5.46 today.

Let's Go Brandon!! (and Newsom)

 

[Jimmy Higgins]

Bumped back over $4 to $4.16 in NE Ohio. Saw in Chicago it was over $5 a gallon. I commute 5 miles to work in my car, so gas prices don't impact me all too much.

 

[southernhybrid]

Regular was 3.61 at Kroger, but we didn't need any gas. Georgia has temporarily suspended the gas tax, which I think was around 17 center per gallon. Kemp is trying to buy votes.

 

[ZiprHead]

$5.30 at Costco. Down a bit from a few weeks ago.

$5.46 today.

Let's Go Brandon!! (and Newsom)

How is this Biden's or Newsom's fault?

 

[bilby]

$5.30 at Costco. Down a bit from a few weeks ago.

$5.46 today.

Let's Go Brandon!! (and Newsom)

How is this Biden's or Newsom's fault?

Dur.

They invaded Ukraine.

Hello?

 

[TSwizzle]

$5.30 at Costco. Down a bit from a few weeks ago.

$5.46 today.

Let's Go Brandon!! (and Newsom)

$5.49 today, up $.03.

Let's Go Brandon!!

 

[TSwizzle]

$5.30 at Costco. Down a bit from a few weeks ago.

$5.46 today.

Let's Go Brandon!! (and Newsom)

$5.49 today, up $.03.

Let's Go Brandon!!

$5.52 today, up another $.03.

Let's Go Brandon!! (and Newsom)

 

[Jimmy Higgins]

I ponder if he blames Biden when he gets gassy.

 

[ZiprHead]

Notice that the trend oil prices vs fuel prices have reversed. (oil is blue, fuel is red)

Crude Oil vs Gasoline Prices

This interactive chart compares the monthly price performance of West Texas Intermediate (WTI) Crude Oil vs national average gasoline prices back to 1986.

www.macrotrends.net

 

[bilby]

View attachment 38545
Notice that the trend oil prices vs fuel prices have reversed. (oil is blue, fuel is red)

Crude Oil vs Gasoline Prices

This interactive chart compares the monthly price performance of West Texas Intermediate (WTI) Crude Oil vs national average gasoline prices back to 1986.

www.macrotrends.net

I don't think you can make such a claim for series plotted against different axes. The choice of axes determines whether any 'reversal' is present, not the data.

When your conclusion is based on an observation that is independent of the data, and is instead an artefact of your choice of presentation, you have a problem.

But assuming that there is something to discuss here, why would it be important that finished product retail prices have increased slightly faster than raw material prices?

All your graph appears to show is that the rate of change of these two numbers is usually similar, but rarely the same. Which is rather what one would have expected, no?

This looks like retailers in a product with fairly low profit margins widening those margins slightly, in response to increased volatility of wholesale prices. Which is just sensible business practice.

 

[TSwizzle]

$5.30 at Costco. Down a bit from a few weeks ago.

$5.46 today.

Let's Go Brandon!! (and Newsom)

$5.49 today, up $.03.

Let's Go Brandon!!

$5.52 today, up another $.03.

Let's Go Brandon!! (and Newsom)

Went to Costco for gas this evening, $5.57. An increase of $.05 since Tuesday, two days ago!! <img Brandon I Did That /img

Let’s Go Brandon!! (And Newsom)

 

[southernhybrid]

Wow! Somebody thinks that this Brandon guy is powerful enough to control a global commodity. Somebody needs a lesson in supply and demand and the numerous things that impact a global commodity.

Btw, Georgia is one of 4 states, or so I've heard, where gas is under 4 bucks a gallon. Thanks Brandon! /s

 

[Tigers!]

Prices in Melbourne, Australia crashed through to about $2.15/L on the weekend.
Yet today I am in Ballarat, about 1.5 hours NW of Melb and petrol was about $1.75/L. Very strange. I must fill up before I leave.

 

[Hermit]

View attachment 38545
Notice that the trend oil prices vs fuel prices have reversed. (oil is blue, fuel is red)

Crude Oil vs Gasoline Prices

This interactive chart compares the monthly price performance of West Texas Intermediate (WTI) Crude Oil vs national average gasoline prices back to 1986.

www.macrotrends.net

I don't think you can make such a claim for series plotted against different axes. The choice of axes determines whether any 'reversal' is present, not the data.

When your conclusion is based on an observation that is independent of the data, and is instead an artefact of your choice of presentation, you have a problem.

But assuming that there is something to discuss here, why would it be important that finished product retail prices have increased slightly faster than raw material prices?

All your graph appears to show is that the rate of change of these two numbers is usually similar, but rarely the same. Which is rather what one would have expected, no?

This looks like retailers in a product with fairly low profit margins widening those margins slightly, in response to increased volatility of wholesale prices. Which is just sensible business practice.

The differential is actually worse than the graph makes it appear. Between the 3rd of January and the 9th of May

the price of crude oil rose from $76.08 to 103.09 - a rise of 35.5%
the retail price of gasoline rose from $2.25 to 3.35 - a rise of 57.8%

A differential of 22.3 percentage points is not a slightly faster rate of increase.

Personally, I would not blame the incumbent president of the USA for the rise. To blame for the global trend are Hunter Biden's laptops, Hillary Clinton's emails and the Democrats' massive election fraud.

 

[Loren Pechtel]

$5.30 at Costco. Down a bit from a few weeks ago.

$5.46 today.

Let's Go Brandon!! (and Newsom)

$5.49 today, up $.03.

Let's Go Brandon!!

$5.52 today, up another $.03.

Let's Go Brandon!! (and Newsom)

So he's so powerful he made Russia declare war to drive up gas prices?

 

[Hermit]

Prices in Melbourne, Australia crashed through to about $2.15/L on the weekend.
Yet today I am in Ballarat, about 1.5 hours NW of Melb and petrol was about $1.75/L. Very strange. I must fill up before I leave.

Be careful. Some shonky operators sell at discount prices by thinning their petrol out with kerosene. Your mileage will drop and the mix harms your car's motor.

 

[Politesse]

Wow! Somebody thinks that this Brandon guy is powerful enough to control a global commodity. Somebody needs a lesson in supply and demand and the numerous things that impact a global commodity.

Btw, Georgia is one of 4 states, or so I've heard, where gas is under 4 bucks a gallon. Thanks Brandon! /s

Don't you know presidents have magical powers to control the economy?

But we must still be careful, if a plucky band of freedom fighters steals the golden pen from the Resolute Desk and tosses it off of the Walled Street of Manhattan, all is lost.