Pain At The Pump As Gas Prices Rise 40%

JonDouglas

JonDouglas

Senior Member
Location
New England
More pain for mobile seniors on fixed incomes. Excerpt:

The national gas price average has increased 40% since the start of the year, from $2.25 on January 1 to $3.13 today. Moreover, it is not stopping there. Motorists can expect gas prices to increase another 10–20 cents through the end of August, bringing the national average well over $3.25 this summer. ​
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“Robust gasoline demand and more expensive crude oil prices are pushing gas prices higher,” said Jeanette McGee, AAA spokesperson. “We had hoped that global crude production increases would bring some relief at the pump this month, but weekend OPEC negotiations fell through with no agreement reached. As a result, crude prices are set to surge to a seven year-high.”​
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Source: AAA Gas Prices​
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As you know, gas price increases result in downstream increases in the prices of goods and services, thus fueling more inflation if demand doesn't abate.
 

In England...this week.,.

If you were paying our prices.. this is what you would be paying this week in the USA . !! I have taken into consideration that an American gallon is 3.79 litres compared to 4.56 litres British Gallon

I've compared only the top 2.. Unleaded and Diesel....

The bottom 2 are British prices only
​
​

UK Average Fuel Prices*​


​
Per Imperial Gallon - Pounds sterlingEqual to American gallon 3.79 litres
Unleaded​
Current exchange rate
131.9p per litre​
£6.06... ......$4.99 per gal

Diesel​
133.9p per litre​
£6.38$7.42 per gal

​
Super Unleaded​
149.9p per litre​
£6.84

Premium diesel​
155.9p per litre​
£7.11
 

I think the recent rise is mostly due to the post covid rebound in demand getting it back to something closer to recent historical levels. I do think government policies that can vary from administration to administration can impact the prices, however only slowly, too soon to associate this with the new administration.

Although the nominal price of gasoline has risen a lot, I remember 20 cent a gallon gas, inflation adjusted it has remained remarkably stable. Bouncing around a bit, but less than you would think. Demand has increased exponentially over time, it is interesting how supply has kept up, more fields discovered first, and now we are figuring out how to get more oil out of old fields. Inflation-Adjusted-Gasoline-Price-Feb-2020.jpg
from https://inflationdata.com/articles/inflation-adjusted-prices/inflation-adjusted-gasoline-prices/
 
Alligatorob said:
I think the recent rise is mostly due to the post covid rebound in demand getting it back to something closer to recent historical levels. I do think government policies that can vary from administration to administration can impact the prices, however only slowly, too soon to associate this with the new administration.

Although the nominal price of gasoline has risen a lot, I remember 20 cent a gallon gas, inflation adjusted it has remained remarkably stable. Bouncing around a bit, but less than you would think. Demand has increased exponentially over time, it is interesting how supply has kept up, more fields discovered first, and now we are figuring out how to get more oil out of old fields. View attachment 172733
from https://inflationdata.com/articles/inflation-adjusted-prices/inflation-adjusted-gasoline-prices/
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It can certainly be argued that covid-19 policies dealt a major blow to the U.S. and other country's economies and that the rebound is causing demand to far outstrip supply. That and other factors (e.g., weather, refinery issues, labor shortages, etc.) add to the problem. Blame for the absurd covid policies that set things in motion can be laid at the feet of both the current and previous president for those whose political passions are inflamed by this, so we really don't need to go there.
 
This morning i topped up the gas tank in Ontario, Canada at it was $1.35 per litre or I believe about $5.11 US per gallon. Half of the gas up here is additives so really does wreck havoc on small engines in generators and lawnmowers. Wish i could get aviation gas easily.

With the global push to 'green' everything and investments not going into oil and gas as much anymore, there has been little new large oil and gas discoveries so I expect the price will over time rise
 
Gas prices always seem to go up during the Summer months....when more people are getting out of the house. Couple that with all the pandemic issues and the recent shutdown of gas supplies to the East coast, and I'm surprised the prices aren't higher. Locally, we're still staying below $3/gal. for regular gas. I can still remember a few years ago, when prices went over $4/gal.
 
Thanks to our government ...........

Now would y'all rather just bitch about it ? Or discuss the cause behind it ?

Just bitching about it solves nothing. But perhaps a civil disussion about it & voicing our opinions on various public forums such as this ......... might just send a message.
 
Gaer said:
Why is everyone so surprised? Didn't we know this when the Government shut down the pipeline?
We are just seeing the fringes of what is yet due to occur!
Click to expand...
One of the interesting aspects of this is unintended consequences for the green people. Several I know were initially thrilled about all of this (i.e., increased gas prices and stopping the pipeline) until I told them that petroleum price increases lead to increased coal production and use. One can assume China will be buying a lot of our coal while some areas here will continue to have power problems due to lack of generation.
 
Gaer said:
Why is everyone so surprised? Didn't we know this when the Government shut down the pipeline?
We are just seeing the fringes of what is yet due to occur!
Click to expand...

Exactly !

Oh, but we're not supposed to discuss it ?!?!

I'm sure just bitchin'bout it [meaningless complaints] will serve us better.
 
rgp said:
Exactly !

Oh, but we're not supposed to discuss it ?!?!

I'm sure just bitchin'bout it [meaningless complaints] will serve us better.
Click to expand...
Personally, I'll try to speak to the dynamics of the problem, not the political actors. Badmouthing politicians is like pissing in the wind - there will be unnecessary and unpleasant blowback. Also, this isn't a political forum and most of us like it that way.
 
JonDouglas said:
One of the interesting aspects of this is unintended consequences for the green people. Several I know were initially thrilled about all of this (i.e., increased gas prices and stopping the pipeline) until I told them that petroleum price increases lead to increased coal production and use. One can assume China will be buying a lot of our coal while some areas here will continue to have power problems due to lack of generation.
Click to expand...

Not to mention the fact that we are now, once again oil dependent on foreign supply. When just a few years back we were totally independent , and selling too ........ the foreign suppliers.
 
rgp said:
But the dynamics of the problem ......... were brought about by the political actors.
Click to expand...
So what? We're interested in the dynamics of the problem, not some pandering political poltroon, be he/she right or left. If you're dead set on bashing politicians, there are better forums. Doing so convinces nobody and just polarizes the important issues and gets people upset.
 
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Just awhile back, the U.S. was energy independent. Then, a new force emerged to change those dynamics. Now, we are returning to the days where the U.S. is again dependent upon foreign oil. According to CNBC, the Saudis have decided to limit production in order to force oil prices to rise. As it had already been stated, we are our own worst enemy.

Same with China and the economy. The U.S. has the largest economy in the world and also the 7th highest debt at 107% of our GDP. China is on our heels with taking over as having the world’s largest economy.
 
oldman said:
Just awhile back, the U.S. was energy independent. Then, a new force emerged to change those dynamics. Now, we are returning to the days where the U.S. is again dependent upon foreign oil. According to CNBC, the Saudis have decided to limit production in order to force oil prices to rise. As it had already been stated, we are our own worst enemy.

Same with China and the economy. The U.S. has the largest economy in the world and also the 7th highest debt at 107% of our GDP. China is on our heels with taking over as having the world’s largest economy.
Click to expand...
I read that shale oil production is holding steady, thus taking advantage of price increases, which points out how these increases can become self-sustaining without some intervention - ride the price rise bandwagon.
 
Gas prices have risen here; now up to 134.9 a litre. Good thing I don't go out too far nowadays but in the future as places start to open up more, I will feel the pinch.
 
JonDouglas said:
So what? We're interested in the dynamics of the problem, not some pandering political poltroon, be he/she right or left. If you're dead set on bashing politicians, there are better forums. Doing so convinces nobody and just polarizes the important issues and gets people upset.
Click to expand...

Where did I say anything about bashing politicians ?

I do believe that the 'powers that be' are aware of the various discusions that take place in fourms, such as this one. Matter of fact, I have heard it said that they have staff just to keep an eye on such things?

If it is reported back to those actually in charge that it is being discussed in a civil manner with good points made . Maybe it will have effect on their thinking.
 
I used to buy a locking gas cap when prices got crazy so no one could steal my fuel. I discovered my 2021 Ford F150 has no gas cap. Another engineering benefit??? Not only that but I have to have a special adapter if I run out of gas and have to pour from a gas can.
 
rgp said:
Where did I say anything about bashing politicians ?

I do believe that the 'powers that be' are aware of the various discusions that take place in fourms, such as this one. Matter of fact, I have heard it said that they have staff just to keep an eye on such things?

If it is reported back to those actually in charge that it is being discussed in a civil manner with good points made . Maybe it will have effect on their thinking.
Click to expand...
Where did I say you said it? When you get very far into the politics side of it, people press the "Report" button. When the mods get the idea that there's trouble in the thread, they lock it. In the past, some people have used this to shut down a thread. Don't give them the ammunition, OK?
 
JonDouglas said:
Where did I say you said it? When you get very far into the politics side of it, people press the "Report" button. When the mods get the idea that there's trouble in the thread, they lock it. In the past, some people have used this to shut down a thread. Don't give them the ammunition, OK?
Click to expand...


Well, right here ...... "If you're dead set on bashing politicians, there are better forums"

I don't care to get "very far" into the politics, but those responsible for sending us backwards need to be pointed out. ................ IMO anyway.
 
$3.05 in ABQ yesterday. New Mexico insiders know and have reported in the newspapers that the oil companies have deliberately cut production on producing wells so they could cut costs by laying off workers and drive the prices up.
 
rgp said:
Well, right here ...... "If you're dead set on bashing politicians, there are better forums"

I don't care to get "very far" into the politics, but those responsible for sending us backwards need to be pointed out. ................ IMO anyway.
Click to expand...
Well, I apologize. That was a collective "you" but you had no way of knowing that. As for pointing them out, people already know. They may not admit it (cognitive dissonance), but they know.
 

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