General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGasoline Is Still Relatively Cheap - Why?
Here in central Pa. gas at $3.19 a gallon is pretty darn cheap, I have a question.
Is it because of Krasnov? I mean all of the fossil fuel subsidies, the removing subsidies from clean energy projects, giving the fossil fuel industry government land to drill on.
On November 15th Ukraine launched a massive drone strike on Novorossiysk Port Refinery, causing major damage. That port handles 2% of all oil exports world wide.
I remember when a Democrat was president and if anyone talked about a war in the Middle East gasoline prices would skyrocket. I call BS on supply and demand when a Magat is president.
Just imagine where our inflation would be if gasoline did skyrocket.
Ukraine has also been attacking numerous other Russian oil depots and refineries. Russia is rationing gasoline in Crimea.
Just a thought.
onenote
(45,904 posts)OPEC has increased production just at a time when demand has dropped as it typically does as we move from summer to winter. And winter blends are cheaper to produce than summer blends.
Since 2008 -- as far back as I bothered to look -- the monthly average retail price of a gallon of gas has been lower in November than October almost every year.
maveric
(16,983 posts)Soon to be $5.00.
duckworth969
(1,037 posts)Youre right about Ukraines ongoing destruction of Russkie oil production helping to keep prices low.
And its also true that Big Oil wants to politically support Chump, keep him propped up for drill baby drill. They owe him big time and low prices help him out.
Now with Venezuelan oil soon becoming available, specifically the Orinoco Belt oil reserve, (which is the biggest on the planet), theyre even more invested in keeping him happy.
Youre right. Market manipulation of gasoline pump prices is part of the Repug playbook.
Joe combatted OPECs attempts to raise oil prices by using our Strategic Oil Reserves. And he did it too.
ProfessorGAC
(75,481 posts)....gas is the essentially the same price as a year ago.
Actually, it was a couple cents cheaper at the beginning of last December. There was still a Dem in the WH then.
https://ycharts.com/indicators/us_gas_price
DSandra
(1,689 posts)That's when it went from $1.50 a gallon avg to $4 avg a gallon, back in 2008. It went higher back in 2022 but counting for inflation I think the 2008 price is higher.
The Koch Brothers made a killing in the 2000s, vastly multiplying their net worth.