I had a long discussion with a friend yesterday about Gas Prices.
To me, it seems like Biden is right now artificially lowering gas prices to lower the temperature on everyone leading up to the midterms. I was paying 4.75 a gallon weeks ago and this morning I found gas for 3.35. I also noticed food this morning is lower. I did my normal monthly shopping and everything was about 50% less than it was weeks ago.
Anyone else think they're just dropping prices leading up to November?
From what I understand Biden is releasing something like a million barrels a day from the strategic petroleum reserve, thereby artificially flooding the market with oil just as if the US was producing more. That'll probably last until the election and once it stops the gas prices will shoot back up.
Exactly this. The reserves were filled when oil was like $60 a barrel. Using it to artificially bring costs down and then refilling it at over $100 a barrel is a double whammy. We only had a little taste of high gas prices at $5 a gallon. I think how high we see depends on when we see some action as far as Trump returning to office. As long as Biden remains in office unchecked, show or not, this path will lead to $10+ easy.
$20. Not $60.
It went -$38 back in April of 2020 and PDJT jumped on it and the US actually got PAID to top off the strategic petroleum reserves.
https://www.nbcnews.com/business/energy/great-time-buy-oil-trump-says-prices-plunge-negative-territory-n1188351
It's happening in other countries too.
Yeah I saw fertilizer prices are dropping right now too
Absolutely! As an exiled Scot in Germany! I can vouch for the same for gas, but food is still rising fast. But no POSITIVE action/reason given for the gas drop.
I believe it's all short term optics to avoid a worldwide revolt - totally subsidised by much lower fuel taxes, which is both unsustainable and kicking a bigger can down the road .... where it will likely see huge hikes again. Just in time for winter when Germany is pretty much already feck'd.
They may just think if they (not just US) can hang this particular 'in your face/wallet daily' metric out to the Midterms they may just avoid a Total blow out.
Wrong.
Emergency preparedness month September.
Yup, a bag of large avocados was $9.XX just two weeks ago... I know this because I won’t pay over $5 per bag. Yesterday I saw the same bags for $4.65 at my local Sam’s club and I was shocked.
Prepare for what happens AFTER the November election.
Politicians are trying to prevent a deep recession or a depression... only up until the mid-terms. After that, if Republicans take over the House and Senate and multiple state governments... those in charge have 60-days left in office to do whatever they want before losing power.
The Democrats will send the economy into a massive tail-spin to a depression... and then blame Republicans for it who are taking office. Get your affairs in order. Get your food supplies in stock. SHTF after the November election. Don't get caught unprepared.
Yes I was just talking with my mom about that two or three days ago. Groceries seem cheaper, and gas is dropping in price.
Of course they are. Anyone who doesn't know gas prices will soar again after the election is a fool! I haven't seen any lower food prices. On the contrary. they are still climbing here.