What Happened to the Falling Gas Prices?

On July 22, 2022, the account of Joe Biden wrote:

"Gas prices have declined by an average of 60 cents per gallon over the past 38 days.

Five straight weeks of gas prices coming down."

I remember the folks on this forum, the left-wing twitterari, and mainstream media talking heads touting this supposed fact. And they did it a lot. A lot. It's been almost a year later, and the gas price average is about $3.57 a gallon.

Where are those same people now about falling gas prices? They seem rather quiet about those supposedly falling gas prices. Why is this?

This is just a friendly reminded that gas prices are higher under Joe Biden than under Trump.

 

what happened to capitalism? shouldn't supply and demand determine prices and not agreements among the merged and cooperating former standard oil companies.

 

Oil prices today are the same as they were in August of 2007. That's not even adjusted for inflation. You adjust for inflation, a barrel of oil today is about 20 dollars cheaper than it was in August of 2007.

Someone is profiting.

 

Also Gas was more expensive in January of 2021 than it was in Jan of 2017. So they actually went up slightly from the beginning to the end of the Trump admin.

 

Wait, hold on. We're not having a discussion about why gas prices are high. I think your wild charge is incorrect. Either way, it's beside the point. You're not answering the question. Answer the question. The question is, "Where are all the people on this forum talking about the falling gas prices?" like they did before?

 

January 2021, when gas prices were below $3 a gallon.

Ah, the good old days, I tell ya.

 

OPEC cut production again in April, that's what happened. I am sure, however, that the "Biden did this" crowd doesn't know and doesn't care.

 

They were even lower than that the day before Trump took office.

 

what are the repub majority, who won on controlling inflation and gas prices doing about it? have they sent any bills for biden's signature? are they holding hearings?

 

We are still waiting on Biden to make good on replenishing our national oil reserves when he sold a historical high of 180 million barrels just before the election to help Democrats. His administration has been saying for months that they would start buying up to a measly 3 million barrels to start replenishing it, but they've been refusing to do so.

 

What was the price of oil when he sold it?

What is the price of oil today?

Whenever we refill it, it will most likely be done at a net profit.

 

They stopped falling because Biden annoyed the world producers, and they in turn cut production. Biden continues to inflame the energy markets so he can punish the people, and enrich his global masters. Think about how much additional funding Biden gives to Putin for his Ukrainian war every time he makes energy prices rise.......

 

So you think the price of a barrel of oil is why gas prices are increasing?

 

At a fundamental level, yes. We can have a conversation about Biden's energy folks socialist policy against refiners, if you want, or we could include the democratic policies for reformulated blends that cost more, etc. The short answer is lots of reasons, transportation of oil to store fronts, lots of additional influences. But at the fundamental level, cost is being driven by artificial supply blockers that are being applied by the Biden administration. Artificially high oil funds Putin's war which then allows Biden to transfer tech and arms to Ukraine. Simple calculations here.

 

Have you even checked out the price of oil, and looked at a long term chart?

You don't think profit has anything to do with the cost at the pump? it seems you listed everything you could think of except for that.

 

Show me one energy company that has improved their margin. Just one.

 

The price of oil is way down from a year ago. It's down about 13% from 45 days ago.

 

I noticed you didn't answer the question......

 

You didn't ask a question, you demanded information.

But even if you had phrased it as a question, i wouldn't have answered it, because i don't care.

You act like the supply of oil is a problem, it's not.

 

Whatever is happening to the gasoline prices, you can't thank Joe Biden for it. He's done all he can to raise them in the far left's relentless push for EVs.

My guess is people are driving less, and that has lowered demand. It will be interesting to see where they go this summer. Cars are also getting better mileage. My wife's 2020 SUV can get around 30 MPG on the Interstate highways. My 2016 Cadillac with twin turbo chargers only gets about 26 MPG.

 

Hmm... again, when challenged, the facade of credibility crumble away. If you don't care, why respond and or post? As noted the artificial manipulation of the supply is the reason. But choose to ignore that as well....

But isn't it at least a little uncomfortable for you to know that you're defending the Biden folks who are allowing Billions of dollars to flow into Russia that allows them to support their war in the Ukraine?

 

Repeat after me. The price of oil is set by supply-demand dynamics in an international marketplace.

OPEC+ announces surprise oil output cuts
By Maha El Daha and Ahmed Rasheed
April 2, 2023
https://www.reuters.com/business/en...nnounce-voluntary-oil-output-cuts-2023-04-02/

 

Sorry, i wasn't clear enough. I don't care about your questions.

Oil prices are low. Russia is not making much profit on the oil they sell. Not sure why you think Biden has done anything that brings billions to Russia.

That sort of ignorance is why I don't care about your questions.

 

Supply and demand.
The free market

 

It's a national security risk to have our energy reserves depleted. We can't wait until the next major wave of inflation for gas prices to reach insane highs. That's a horrible strategy that leaves our nation vulnerable. There's a reason we have a STRATEGIC energy reserve.