Gas Prices

#1

Coug

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#1
Anyone know why gas prices went up by almost 25 cents in the last 2.5 to 3weeks? For months we were paying like $1.90 and now it's shot up to $2.14.
 
#3

Firebirdparts

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#3
Saudis say they're cutting back, but it may be just partly something that was a normal variation anyway and they are just piling on. They've had a day or two to study the trends in the market.
 
#16

Go aeiou

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#16
It is a supply and demand issue. There has been plenty of fuel, but people have been staying at home.
I expect gas prices to increase as people get out more. Possibly a big spike from pent-up demand.
Otoh, more EVs should help demand fall or at least not increase dramatically over the next 10-20 years.
 
#17

davethevol

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#17
It is a supply and demand issue. There has been plenty of fuel, but people have been staying at home.
I expect gas prices to increase as people get out more. Possibly a big spike from pent-up demand.
Otoh, more EVs should help demand fall or at least not increase dramatically over the next 10-20 years.
I’m guessing oil companies are going to try and make more money right now before they get hammered with new taxes when Biden gets in. This isn’t necessarily a supply and demand issue right now in the heart of winter with this rate of increase.
 
#18

Go aeiou

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#18
I’m guessing oil companies are going to try and make more money right now before they get hammered with new taxes when Biden gets in. This isn’t necessarily a supply and demand issue right now in the heart of winter with this rate of increase.[/QUOTE
Gas prices are like lumber prices. Everything is an excuse to raise prices. Many say this time it is anticipated demand which seems far fetched to me since gas prices can spin on a dime. They typically go up at the pump on the same day every week. Any negative news will cause them to go up again daily. Any news that should lower the price will be ignored until that same day the following week.
Odd how all the oil companies raise prices in unison. Price fixing.
If you look at gas prices they have been all over the place. Very seldom under $2, and probably an average of about $2.50 for the last 6 years. The tax act of 2018 didn't seem to materially reduce gas prices.
The reasons (excuses) are never ending. As you said it's about profits.
 
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#19

508mikey

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#19
With rumors swirling that President-elect Biden plans to cancel approval of the Keystone XL pipeline, which would cut off reliable Canadian oil to the U.S., oil prices may see additional pressure in the coming days,” De Haan said. “
 
#20

9296potsguy

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#20
If you look at gas prices they have been all over the place. Very seldom under $2, and probably an average of about $2.50 for the last 6 years. The tax act of 2018 didn't seem to materially reduce gas prices.
The reasons (excuses) are never ending. As you said it's about profits.
Well in TN, by 2018, we had just ended a 3 tiered fuel tax increase. 6 cents for gas, 10 for diesel. But I’m sure you recognized our much improved roads as a result *roll eyes*.
 

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