The report that just came out was good with gas prices going to down 7.7% with an overall drop of 25% from the peak. Of course it's a mixed bag as for the reason why it is declining. Is it declining due to capacity increases or is it declining due to people cutting back due to being in a technical recession? I believe it's the latter along with manipulation by using up the SPR which will not be good long term. The Biden administration is probably doing everything they can to manipulate the price temporarily to take the gas price issues out of the equation for the midterms. Many economists have now said the summer driving season never really materialized. I know I was much more careful about how much I drove. Now that we are getting out of the summer driving season and will switch over to the cheaper winter blend how much lower do you see gas prices going? For me personally I'm debating on whether to do a road trip in September or October. Part of me would say wait until October when the winter blend comes out and typically gas prices go down steadily after Labor Day. With that said my personal concern this year is that China was largely open back up in September. Do you think that will cause gas prices to go back up even though it's after the traditional driving season in America? Could we see gas prices bottom out in August/September and then start to go back up? How long do you think gas prices will reasonably get?
I'm expecting it to be in the $2.80 range in another few months. Biden has done a great job here, just like he has with everything else. Too bad his critics can't give him any credit for anything.
Thanks for adding nothing to the conversation. Hypocritical much? All your side said for months was the following: "The President can't do anything regarding gas prices" "The President can't do anything regarding gas prices" "The President can't do anything regarding gas prices" That's all we heard from your side for all of May, June and July. Biden never once took any responsibility for gas prices. So then why should Biden get any credit for gas prices going down? Newsflash, he shouldn't and won't. When you don't take responsibility for the bad, you don't get credit for the good. Or are you saying you want to change your position and admit that the statements, policies and actions of a President can and do impact gas prices?
I thought Presidents didn't have any impact over gas prices? Still over a dollar more a gallon than the average under Trump. That doesn't even count the pandemic when gas got below $2.00/gallon in many areas. Congrats being a hypocrite. No responsibility for the gas prices going up but yes we have to give him credit for it going down. Maybe if Biden had taken responsibility for the high gas prices he could genuinely get credit for the prices going down, though they are still way higher than they should be.
Soon the refineries will begin (if they haven’t yet) producing heating oil. This generally cause a refinery shut down to make the change, followed by reduced output of gasoline through February. . The summer months typically bring lower prices as refineries are producing mostly gasoline. I hope we see, but am not betting on $2.80 anytime soon.
I guess you told him. To avoid this reaction in the future should I inform him that your trigger word is "Thanks" or "Biden"?
I could desperately go for some $3 diesel in my life. I'm always on the side of the president does very very little to affect fuel prices. Up or down.
How long is your road trip, what is your gas mileage, and what is your budget? You may save the most money by camping.
First, did I ever say they did or didn't? No, so why jump on me? Second, normally Presidents don't. And Biden had little to do with the post-COVID/Ukraine War spike which was a world wide phenomena. However, Biden has shown he is willing to adjust his policy to address real issues (like the spike in gas prices). As you love to point out he started selling from the strategic reserve. He has also approved more drilling despite it hurting him with progressives. Why? You say to buy votes. I say to address real issues affecting lower and middle class families. If you mean the current price is still a dollar more than the pre-covid Trump period I agree. If you are saying my $2.80 prediction is still $1 more, you are wrong. Again, I didn't say he had no blame, however, I don't know what anyone can point to that he did to cause the spike. And yes, I give him credit because there are several things I can point to which have helped reduce the price of gas. So no, I'm not a hypocrite.
I should clarify that my $2.80 guesstimate was based on my local pricing, not national average. Here in the Raleigh NC area, gas is down to the $3.60 range at the stations I frequent, well below the national average.
I expect it to drift down to the $3-3.25 per gallon range as Major refineries keep production off line for extended periods of time in protest over green energy initiatives. Some time after the Republi-ban Terrorists crush the Democrats in the House gas will take another step down. If the Terrorists win the White House in 24, gas will again be in free fall. By the way, as of May, there were still over 1100 oil tankers drifting around the oceans loaded with oil and no where to unload because we are in such a massive global glut of oil. The refining oligopoly holding off US refinery capacity "for maintenance" in tandem is borderline criminal.
Got diesel at $4.65 today, down about $1.30 from a month ago. I don't care if it's because of Biden, Trump, the ghost of JFK, aliens or whomever. Praise Opec!
How did you feel about Trump kicking it off by threatening the Saudi’s to reduce the oil supply when prices were super low?
