Iām 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 isnāt necessarily a supply and demand issue right now in the heart of winter with this rate of increase.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.
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.Iām 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 isnāt 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.
Well in TN, by 2018, we had just ended a 3 tiered fuel tax increase. 6 cents for gas, 10 for diesel. But Iām sure you recognized our much improved roads as a result *roll eyes*.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.