Are we headed for free gas???
Dec 12, 2023 19:48:35 #
No.. it is only Joe at work.. correct???
The Big Story
Gas prices on the decline ahead of the holidays
Gasoline prices are falling. Experts say supply and demand factors are at play.
© Illustration / Courtney Jones; Adobe Stock
Gasoline prices on Tuesday averaged $3.14 nationally, down nine cents from a week ago and 23 cents from a month ago.
Andy Lipow, president of consulting firm Lipow Oil Associates, said the decline “showed that OPEC+ is struggling to balance oil supply and demand in light of the surprising increase in supply from the U.S., Brazil and Guyana, as well as disappointing demand from China,” Lipow said.
Those declines have meant “good news for the consumer” at the pump, Lipow said, and prices may drop a few cents more over the week.
Domestically, the gas price decline is part of a cycle that has been typical in past years but recently had been absent in the winter months, said Devin Gladden, an AAA spokesperson.
“During the fall and winter, we see days become a lot shorter, inclement weather increasing, drivers spending less time on the road,” a trend that typically drives oil demand down through the end of the year, he said.
Read more in a full report at TheHill.com.
The Big Story
Gas prices on the decline ahead of the holidays
Gasoline prices are falling. Experts say supply and demand factors are at play.
© Illustration / Courtney Jones; Adobe Stock
Gasoline prices on Tuesday averaged $3.14 nationally, down nine cents from a week ago and 23 cents from a month ago.
Andy Lipow, president of consulting firm Lipow Oil Associates, said the decline “showed that OPEC+ is struggling to balance oil supply and demand in light of the surprising increase in supply from the U.S., Brazil and Guyana, as well as disappointing demand from China,” Lipow said.
Those declines have meant “good news for the consumer” at the pump, Lipow said, and prices may drop a few cents more over the week.
Domestically, the gas price decline is part of a cycle that has been typical in past years but recently had been absent in the winter months, said Devin Gladden, an AAA spokesperson.
“During the fall and winter, we see days become a lot shorter, inclement weather increasing, drivers spending less time on the road,” a trend that typically drives oil demand down through the end of the year, he said.
Read more in a full report at TheHill.com.
Dec 12, 2023 19:53:25 #
permafrost wrote:
No.. it is only Joe at work.. correct??? br br b... (show quote)
What will you say when the price rises? I know, you will say Biden has no control over the price of gas.
Dec 12, 2023 19:58:59 #
Liberty Tree wrote:
What will you say when the price rises? I know, you will say Biden has no control over the price of gas.
Nor did the ARITICAL I posted give him credit for the drop in price.. if you read, you will know... forgive my attempt at attracting attention to the post.. the lower price however is a good optimistic trend for the holidays and beyond..
Dec 12, 2023 20:10:40 #
Coos Bay Tom
Loc: coos bay oregon
permafrost wrote:
Nor did the ARITICAL I posted give him credit for the drop in price.. if you read, you will know... forgive my attempt at attracting attention to the post.. the lower price however is a good optimistic trend for the holidays and beyond..
I am happy to pay less for gas--Must be on account of The Donald saying Drill drill drill ! Now the United States is the highest oil producing country in the world .
Dec 12, 2023 20:58:12 #
JFlorio
Loc: Seminole Florida
Coos Bay Tom wrote:
I am happy to pay less for gas--Must be on account of The Donald saying Drill drill drill ! Now the United States is the highest oil producing country in the world .
Dumb statement from you. Price is down simply due to demand. Whether we’re the number one producer or not doesn’t matter. We could drill and sell much more, further reducing the price.
Dec 12, 2023 21:14:34 #
JFlorio wrote:
Dumb statement from you. Price is down simply due to demand. Whether we’re the number one producer or not doesn’t matter. We could drill and sell much more, further reducing the price.
Free market doesn’t affect oil prices.the price goes where they want it to go .supply and demand has been gone for years. Otherwise we would’ve had lower prices all along, caused by the competition of a free market .
Dec 12, 2023 21:26:45 #
JFlorio
Loc: Seminole Florida
Milosia2 wrote:
Free market doesn’t affect oil prices.the price goes where they want it to go .supply and demand has been gone for years. Otherwise we would’ve had lower prices all along, caused by the competition of a free market .
You’re too dumb to discuss the weather. Oil pricing is way beyond your reach troll.
Dec 12, 2023 23:04:31 #
nwtk2007
Loc: Texas
JFlorio wrote:
Dumb statement from you. Price is down simply due to demand. Whether we’re the number one producer or not doesn’t matter. We could drill and sell much more, further reducing the price.
The whole idea is to discourage driving. That alone reduces demand. Thus Biden can claim to have brought down prices.
Dec 12, 2023 23:17:47 #
permafrost wrote:
No.. it is only Joe at work.. correct??? br br b... (show quote)
Down from five dollars. And still up over a dollar from one Trump Was President.if Gas goes to a dollar let me know then I’ll praise Brandon with you.
Dec 12, 2023 23:50:20 #
Coos Bay Tom
Loc: coos bay oregon
JFlorio wrote:
Dumb statement from you. Price is down simply due to demand. Whether we’re the number one producer or not doesn’t matter. We could drill and sell much more, further reducing the price.
Ok I was being Sarcastic . . We are the number one oil producing country in the world. Why we import oil is beyond me especially if we are selling it too .
Dec 13, 2023 08:29:00 #
JFlorio
Loc: Seminole Florida
Coos Bay Tom wrote:
Ok I was being Sarcastic . . We are the number one oil producing country in the world. Why we import oil is beyond me especially if we are selling it too .
It’s not that we “import” Tom. It’s that oil (complicated commodity) is sold on the world market. Interesting information.
https://www.eia.gov/energyexplained/gasoline/factors-affecting-gasoline-prices.php
Dec 13, 2023 08:38:11 #
Coos Bay Tom
Loc: coos bay oregon
JFlorio wrote:
It’s not that we “import” Tom. It’s that oil (complicated commodity) is sold on the world market. Interesting information.
https://www.eia.gov/energyexplained/gasoline/factors-affecting-gasoline-prices.php
https://www.eia.gov/energyexplained/gasoline/factors-affecting-gasoline-prices.php
Very informative along with other links that can be accessed . Lots of things affect prices including world events .
Dec 13, 2023 11:21:15 #
America 1
Loc: South Miami
permafrost wrote:
No.. it is only Joe at work.. correct??? br br b... (show quote)
Not for long, gasoline is plus 3 cents on the wholesale market today.
$420.00 each cent on a futures contract.
$1260.00.
Dec 13, 2023 12:17:52 #
permafrost wrote:
No.. it is only Joe at work.. correct??? br br b... (show quote)
The key words supply and demand, with world economies hard hit or in collapse, Americans ran out of cash, highest credo card debt in history, leaving people unable to afford travel. Thus supply demand, price declines. Yes Biden has helped prices decline with historically high inflation, food prices and more poor in America. But, what you also didn't post was first quarter projected food Shortages, diesel Shortages bringing much higher inflation, prices to fuel, food.
https://www.bankrate.com/personal-finance/home-for-the-holidays/
Dec 13, 2023 12:27:18 #
Coos Bay Tom wrote:
Ok I was being Sarcastic . . We are the number one oil producing country in the world. Why we import oil is beyond me especially if we are selling it too .
Only 46% of American produced oil is light sweet and can be refined by American refineries. Regulations have prevented our refineries from retooling or building refineries that can refine heavy crude. Thus the regulations force oil companies to sell off 54% of drilled oil to nations that can refine it, then purchase back the refined gas, diesel.
If regulations were reversed, new refineries built, gas cost would be a fraction. However, federal tax per gallon greed, state tax per gallon greed will prevent a very low cost per gallon. Our government/states make more per gallon, than the oil companies.
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