Sponsored

Gas Prices Are Still Dropping With No Signs Of Stopping.

Status
Not open for further replies.

carmigo

Well-Known Member
First Name
Carmigo
Joined
Nov 29, 2022
Threads
36
Messages
307
Reaction score
197
Location
Tupelo, MS
Vehicle(s)
N/A
Occupation
We help sellers get multiple offer for their car in as little as one business day.
Jeep Gladiator Gas Prices Are Still Dropping With No Signs Of Stopping. MW_GasPrices_DEC30


Gas prices have been reliably falling month over month since this summer’s record highs. Last week, 22 states had an average gas price under $3.00. Texas led the way with an average gas price of $2.70.

Demand Is Still Lower than Last Year
Current gas demand in the US is still 300,000 barrels per day lower than this time last year. And that’s even after demand grew from 8.26 million to 8.71 million barrels per day in mid-December.
Even with upticks in demand, gas supply in the US grew by more than 2.5 million barrels.

Prices Should Continue Falling in New Year
Here’s what AAA spokesperson Andrew Gross had to say about the ongoing fall in prices.
“The cost of oil, gasoline’s main ingredient, has been hovering in the low-to-mid $70s per barrel, and that’s $50 less than the peak last Spring. Combined with low seasonal demand, gas prices could slide a bit more before leveling off.”
If supply continues to outpace demand and demand remains lower through the winter, these declining prices will likely continue.

How Does This Impact Car Prices?
Filling up a tank of gas is a minuscule expense compared with purchasing a new car. But the two prices will always be inextricably tied.
As gas prices rise, we see buyers favor fuel-efficient cars. That means buyers are buying fewer non-work trucks, performance cars, and large SUVs.
Prices go so high this summer that we were seeing people giving up gas altogether, choosing to make the switch to an EV or give public transit a try.
But now that gas prices have fallen for a prolonged period of time, we see a large uptick in the quantity and prices of the less fuel-efficient cars on our marketplace.
So if you’ve been thinking about selling a gas guzzler, do it before gas prices go back up in the spring.
Sponsored

 

Sponsored

Jefe1018

Well-Known Member
Joined
Mar 4, 2020
Threads
38
Messages
2,433
Reaction score
3,940
Location
NV
Vehicle(s)
21 JT Rubi Ecodiesel
Build Thread
Link
Diesel can be anywhere between $1-$1.50 more a gallon depending on the fueling station in my parts. Hopefully it gets back under $4, my last fill up was $4.85 and the highest was $6.08 back a few months ago.
 

Sponsored

Wheelin98TJ

Well-Known Member
First Name
Ryan
Joined
Jul 27, 2021
Threads
7
Messages
1,897
Reaction score
2,144
Location
Devils Lake, MI
Vehicle(s)
2021 Jeep Gladiator
Occupation
Bean Counter
Diesel can be anywhere between $1-$1.50 more a gallon depending on the fueling station in my parts. Hopefully it gets back under $4, my last fill up was $4.85 and the highest was $6.08 back a few months ago.
$3.99 diesel in SE Michigan.
 

DCPHOENIX

Well-Known Member
First Name
David
Joined
Mar 8, 2022
Threads
48
Messages
279
Reaction score
483
Location
Arkansas
Vehicle(s)
2022 Gladiator
Occupation
Dad
Erm. No? We were at $2.25 last week. Just hit $2.85 again
 

Jglad15

Well-Known Member
First Name
Jeff
Joined
Dec 3, 2020
Threads
36
Messages
694
Reaction score
891
Location
Maryland
Vehicle(s)
2022 Gladiator Rubicon
In MD we were down to 2.99 and now back at 3.39. A lil late for this post…
 
Status
Not open for further replies.
 



Top