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Gas Prices Are Still Dropping With No Signs Of Stopping.

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ezekio3160

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All my concerns with gas prices are how unstable they are that I’ve never seen before. Last week I pumped @$5.29 today I pumped @ $4.89. Crazy fluctuation.
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disenhower

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Nebraska/Iowa/Missouri jumped 60 cents in about 2 weeks. Definitely not dropping.
 

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MW_GasPrices_DEC30.png


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.
Prices are up in my area.
 

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djthumper

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I just paid $4.13 /gal for diesel and it was the cheapest I have found.
 
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DJPodratz

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40+ years in the refining business here. I have seen so many up and down cycles that yo-yos seem slow motion to me.

Make no mistake, prices will rise again and ramp it up another notch.

Th big difference now is refiners are NOT investing. Politics don't support it. The next high will be even higher.
 

Lunentucker

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In a non-political and totally fictional book that I read, the make-believe people of a make-believe land chose the village idiot to be their king.

The new king, emboldened by having been chosen to lead the already prosperous and happy people, decided to take it upon himself to declare war on the farmers who were supplying the people with cheap and sustainable hay and corn for their horses, and on the whalers who were supplying them with lamp oil.

"We don't need you anymore, with your smelly corn, itchy hay, and messy oils!", proclaimed the hapless king. "We're going to use the wind and the sun and clouds and and and... you know the thing, to run our already prosperous and content land in a more environmentally friendly way!", the king yelled angrily, even though no one could figure out why he was angry.

As anyone who hasn't otherwise spent their entire existence as the village idiot and living solely off of the charity of the people might have easily predicted, the farmers and whalers were less than pleased with the new king's foolishness, and so they decided that they might teach him and the people who coronated him a valuable lesson.

They could clearly understand that there was no existing infrastructure to transition the people's land to other sources of fuel for transportation and warmth, and that the village idiot had essentially brought a failing two year old AUX battery to a two week off the grid badlands overland trip to run their 1000 watt microwave.

So they decided that they were going to make their profits while they could, and raise the prices on the hay, the corn, and the whale oil, while the villagers scrambled and clamored to build windmills and something called sunshine farms, which no one understood.

The people were baffled.
"Why have you raised your prices? Your hay fields are lush, the corn cribs are full to the brim, and there are millions of gallons of whale oil yet to be used! You're being greedy!", the angry people yelled.

The farmers and the whalers smiled politely, and said, "You still want that delivery next Tuesday or not? How's the windmill coming along? Need any lamp oil so you can work at night?"

Anyway. Just a silly fairy tale book I read. I have no idea what's behind the ever increasing fuel prices.
 
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Waynerd

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Diesel isn’t dropping because demand isn’t dropping. Diesel affects the cost of everything you buy and eat.

Gas is fluctuating because there was a big release of strategic reserves just before the election. More supply. But it was a quick fix. Personal use demand has been up and down, because of Covid, basically making for fluctuations. Gas prices (baseline) are set by commodities futures, the price is not about today, but rather, how buyers believe supply and demand will be tomorrow.
 

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It dont matter they will just produce less making price of each barrel go up . Driving it right back . If we want it to truly fall we need to Drill on our own Land the good ol' 🇺🇸 USA 🇺🇸 that's the real way to compare it . OPEC is a bunch of crooks.
 

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"Gas Prices Are Still Dropping With No Signs Of Stopping."

Except the sign when they stopped. No other signs though. Batting 1000!
 
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