Pulled in to get gas. Down 20 cents since yesterday morning. Wonder if this is why….
(media.greatawakening.win)
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International price stands at about $75 a barrel. Yes, we are being completely ripped off.
Now do diesel! First 20 years of my life it was cheaper than gas. Now it's way more. Supply and demand my ass!
Stupid environmental regulations / everything is a scam.
Yup. Taxes, surcharges and the like on heavy duty vehicles driving that.
Lower gas prices are great, but how about the prices on everything else? It seems that anytime prices go up on groceries, homes, insurance, or merchandise in general, it becomes the NEW NORMAL and they never ever go down. Meanwhile, hard working citizens and retirees never see such an increase in their income to compensate. Yes, we are being screwed.
the cost of energy, in this case diesel fuel, and everything else related to transportation, will have to drop and stay down for a while before the cost of everything else goes down. If it ever does.
It might, in a free economy with competition people would be inclined to be continuously counting costs and if the cost to produce something goes down, they should lower their prices to get the business.
Where I work every quote is calculated carefully, the cost of components and steel has gone up and up but if it went down we would lower the quotes because it just makes sense.
It's not historically unprecedented. There were gas wars in the late 50s/early 60s and the price kept going down with stations competing for customers.
Everything else is tied to gas prices
I watch every day cause have a bet with my liberal daughter they would drop again. Love her but love proving her wrong in her TDS state.
grounds for removing her from your Will.
Even in Australia the price hit the lowest in many months, infact I am sure its now lower than what it was before the Iran war started
It is.
https://tradingeconomics.com/commodity/crude-oil
Crude oil fell below $71 a barrel on Wednesday, the lowest level since before the US-Iran conflict, as increasing tanker traffic through the Strait of Hormuz and progressing peace talks boosted market confidence. Also, President Donald Trump said there would be no tolls, insurance costs or charges of any kind for tankers looking to pass through the strait. Shipowners are openly transiting the waterway with active satellite signals following safety guarantees from the International Maritime Organization. Reflecting this revitalized flow, the IEA estimates the United Arab Emirates is exporting oil at nearly 85% of pre-war levels, selling roughly 60 million barrels from the Persian Gulf recently. Consequently, oil prices have collapsed about 40% from their wartime peak. However, some domestic tightness persists, with the American Petroleum Institute reporting that Cushing crude inventories fell by 1 million barrels, potentially dipping below critical minimum operating levels.
Wouldn’t it depend on when they get a delivery of gas? They can’t lower their prices until they get a new delivery at a lower price
But they sure can raise it sky high immediately even though they paid less for the gas that they're raising it for.
Personally I can’t be too hard on gas station owners. On average their profit margin on gas is like 2% which is extremely low, that’s why you almost never see them without convenience stores attached which has higher margin items.
Don't most gas stations have to do what corporate says? I don't think they're independent enough to change gas prices on their own?
According to a quick search, most gas stations prices aren’t controlled by the franchisers and individual gas stations set their own prices.
Which makes sense because there’s such a small margin that corporate control of prices would probably not allow franchisees to make any profit at all
That makes sense. Thanks!
https://tradingeconomics.com/commodity/crude-oil
They still have to sell the oil they already paid the higher price for.
Crude is down to $70 a barrel. Gasoline is down to $2.89 plus taxes, plus about 15 cents.
https://taxfoundation.org/data/all/state/gas-taxes-state/
Woo Hoo !!! Thanks Boss I seent it
Big oil had better remember that with a snap of his fingers, Trump could flood the car market with dirt cheap Temu-like electric cars from China, and ruin Big Oil forever.
Considering how much money Big Oil spends to elect so many worse-than-useless "republican" party politicians, burning big oil to the ground may not be such a bad idea for the wellbeing of our nation.
$4.29 here. Its higher now at $69 a barrel than it was when oil was at $105 per barrel.