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re: Will Trump be able to get gas prices to sub $2 again?
Posted on 2/14/25 at 12:51 pm to DGuillory
Posted on 2/14/25 at 12:51 pm to DGuillory
quote:
Even with US oil production at its highest ever under Dementia Joe, prices were still high.
Demand outpaced supply. Cost of supply was higher because of regs and things like shut down pipeline, shut down offshore drilling and other low hanging fruit. Had to spend more to get oil. Make it easy and supply goes up costs go down.
0
Posted on 2/14/25 at 12:56 pm to Yaboylsu63
no, .25% of a $2/gal number would be just for federal and state taxes.
Posted on 2/14/25 at 1:26 pm to Yaboylsu63
Saw it for $2.64 in Charleston today. WINNING.
Posted on 2/14/25 at 1:32 pm to Yaboylsu63
I think Trumps goal is to increase wages and not so much lower prices. He wants growth to outpace inflation and at that point $3 gas is as good as $2.
Posted on 2/14/25 at 1:38 pm to Yaboylsu63
Nope. Unless there’s another pandemic
Posted on 2/14/25 at 1:47 pm to Yaboylsu63
quote:
gas prices
Jesus fricking christ are you frick heads obsessed with this shite, or what?
Gas dropped under $2 in April of 2020 due to lack of demand because the economy was shut down due to COVID. Coincidentally, oil futures went into negative territory. At that point smaller producers started going under. Do you understand what all that means? Do you really want that to happen again?
In October 1990, gas was $1.34/gal. adjusted for inflation, that's equal to $3.19 today. Currently gas is averaging around $3.13.
Can we just leave gasoline alone and let industry and the market handle it without the government getting involved again?
Posted on 2/14/25 at 1:48 pm to Bamafig
quote:
He wants growth to outpace inflation
Will never happen under the current circumstances.
Posted on 2/14/25 at 1:56 pm to Harry Boutte
quote:
Gas dropped under $2 in April of 2020 due to lack of demand because the economy was shut down due to COVID. Coincidentally, oil futures went into negative territory.
No way, dude. It got that low all because of MAGA Magic!
Posted on 2/14/25 at 2:23 pm to offshoretrash
quote:
The permian basin (which is our largest producing basin) is seeing a decline in production due to the aging of wells.
I heard there's a major uptick in fracking pipe being ordered for the permian right now.
Posted on 2/14/25 at 2:34 pm to BigBro
quote:
Unfortunately, companies get greedy and might choose to leave the price where it is, despite their lower cost, to increase profits..
There isn't a might to about it. Companies will still charge what they charge. Capitalism isn't instantaneous. The world has to get back to competing for lower prices, not higher prices.
Posted on 2/14/25 at 2:41 pm to Yaboylsu63
I paid 2.59 at Costco today. I don’t see why not
Posted on 2/14/25 at 2:47 pm to Yaboylsu63
Absolutely. And it won’t be that hard. The gears are already in motion to make it happen. Just wait and see. It won’t be long.
Posted on 2/14/25 at 2:52 pm to dgnx6
quote:
We may see that in some areas like TX, LA, MS.
But it's never getting that low in California.
Yeah, if I see $4 for premium at Costco I'm elated. It dipped a little below $4 for a short period of time and it almost wasn't real to me. Somebody wake me up because this can't be happening.
I remember when it was pushing $6 a couple years ago and I'd just get pissed off filling up.
Posted on 2/14/25 at 3:14 pm to Yaboylsu63
quote:
Will Trump be able to get gas prices to sub $2 again?
If they do...then there is a problem.
The average price in the US for a gallon of Regular Gasoline has been below $2 per gallon for 5 months since March 2009 (essentially 16 years):
January 2016 - $1.967
February 2016 - $1.767
March 2016 - $1.958
April 2020 - $1.876
May 2020 - $1.879
In 2016, there was a global oversupply form shale oil production with an OPEC resistance to reducing production. In 2020, there was a significant drop off in demand...so if we see the demand drop off or OPEC overproduction, there's a problem.
Posted on 2/14/25 at 3:17 pm to madmaxvol
I think it’s imperative he start to focus on prices soon. I understand he why he is focusing on what he is first but if prices don’t come down the goo will lose midterms and then he will be in impeachment hell.
The avengers need to deliver
The avengers need to deliver
Posted on 2/14/25 at 3:21 pm to NashvilleTider
quote:
I think it’s imperative he start to focus on prices soon. I understand he why he is focusing on what he is first but if prices don’t come down the goo will lose midterms and then he will be in impeachment hell.
I disagree. I think that just keeping the prices from rising will be good enough. Everyone understands the impact of inflation...If he could just get the average closer to $2.50 it would still be a win (note that average includes the sky high fuel cost in California, NY, etc...). That would have my local cost down around $2.25 - 2.35...which would be great.
Posted on 2/14/25 at 3:24 pm to SlayTime
$2.44 at Sam's today.
Posted on 2/14/25 at 3:32 pm to Yaboylsu63
Refining capacity is a real issue.
It’s hard for big players to sink big money into expanding refining capacity when they don’t know what happens in the next decade.
A new refinery costs billions of dollars.
It’s hard for big players to sink big money into expanding refining capacity when they don’t know what happens in the next decade.
A new refinery costs billions of dollars.
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