Oil prices dropping like a turd in a toilet.

Oil prices usually drop when the market is predicting a recession.

Thanks Incompetent Don!

 

What happens when demand decreases?

Curious, is Trump responsible for the massive wave of electric cars in China which cut their demand drastically?
Saudi did increase production...like they said they would two months before the election..sad part is lower oil just means more money for refiners

 

riddle me this. If there are no conservatives in power, how are they lowering prices?

 

I probably can’t. Can you show me a conservative president??? Who??? Trump is gleefully lefist

 

No. I learned it by learning about financial markets. And by reading things. You ought to give both those things a try.

Here, I'll help you!! It's fun to know things!


Gasoline prices are coming down. But Trump’s drill-baby-drill promises are not the reason

Gasoline prices are coming down, and President Donald Trump is happy to take credit for that. But he has little to do with it, experts say, and his policies could make it more expensive to increase domestic oil production from already record levels.

But the United States was already producing more oil than any other country before Trump took office. That record production level doesn’t appear to be moving much higher, even with the new administration’s pro-drilling policies.

The Energy Information Administration (EIA) is forecasting an average daily production of 13.5 million barrels of oil in 2025, up 200,000 barrels a day from 2024. But that pace was reached during the last three months of Joe Biden’s presidency.

Gasoline prices are coming down. But Trump’s drill-baby-drill promises are not the reason | CNN Business

 

You seem angry tonight. Maybe the predicted Trump recession will cheer you up!

 

The MAGA (not conservatives) president just spent this week protecting the biggest EV automaker in our country, and you are blaming liberals for hating lower gas prices?

Dude, you cannot read the room…

 

Read this article from September of last year and tell me when you've sent your thank you note to the Saudis.

Saudi Arabia Signals Oil Policy Shift

 

But not significantly. Oil prices have dropped 13% since Trump took office. Transportation is typically less than 10% of the cost of an item, including food. If something costs a dollar, that means that $0.10 is transportation, and reducing that cost by 13% indicates that you could save 1.3% on the item. Big deal. You'd save more on your groceries by clipping coupons. Trump's tariffs will jack up the cost of items that come from other countries by 30-180%. Net savings = -29% to -179%. Hell, a new car is expected to cost an additional $12k because of Trump's tariffs. You think you will save that kind of money at the supermarket or Walmart because of fuel prices?

And, it is correct to say that dropping gas prices (over the long term) are an indication of the economy going bad. People are not traveling on vacation, businesses are not building new assets using concrete (which requires a lot of diesel fuel), manufacturing (which uses fuels and sometimes petrochemicals) is ramping down production, people are not building houses (which use plastics as well as concrete and lumber transported by trucks), etc. These things leads to an oversupply of fuels, which leads to a drop in the price of fuel. Remedial Intro to Economics 100 for a hard-headed conservative. In 2008, the price of gas was approaching $5/gal in the U.S. (and over $9/gal in Germany) for most of the summer. When the economy crashed in late summer, the price of gas rapidly dropped to $1.50 or less.

 

Oil prices are dropping because of lower demand. They will rise when we get to summer.

 

I want lower prices. Cheaper oil isn't going to increase refinery capacity so cheaper prices has to come via demand destruction. I prefer ev adoption vs tariffs induced recession

 

No ... they don't care about high oil/gas prices .... they're just extremely pissed they are "stuck" owning an overpriced e-car built by a company run by co-potus Musk.

 

Not true, I demanded gas yesterday and found the price had gone up $0.05 from 2 weeks ago and it’s not even spring yet