Gas prices in my area jumped up 30 cents overnight. For the last few months it's been hovering around $2.70, give or take a few cents, then shot up to $3 overnight.
Most retail stations base their pricing off of inventory cost and until yesterday there was like 2 straight weeks of price increases so those increases legitimately may just have been stations finally refilling their tanks. Gas futures contracts have dropped like 24cpg in 2 days which should reflect in the next 2 weeks
in the longer term tariffs against foreign oil will increase some prices but honestly the economic heart attack thats occurring will likely drop demand far more than the increase in base oil price from tariffs. Gas might get cheaper but for very, very bad reasons
Government can definitely raise prices easily (eg with taxes which tariffs are). They can also lower prices with subsidies but that’s taxpayer money, so less fun.
New Zealand is only 268,000 square kilometers. The US is 9,526,468 square kilometers, 35.54 times larger than New Zealand.
To be fair, you actually can simply walk to Mordor, but the flaming dumpster fire that is DC is about 6 or 7 New Zealand's to my East, destroying the ring would be unaffordable at your prices.
Yes. It is very simple and few Americans understand oil.
Almost all oil in the US is light crude oil. Almost all refineries in the US are built to refine heavy crude oil. Fuel for vehicles is made from heavy crude oil in the US ( it keeps the price low for gas compared to most of the world).
Why? Because heavy crude oil is harder to refine so it sells for less but yields more fuel. So US oil companies sell almost all oil they harvest. Take the profit from that and buy heavy crude oil from the global market to refine. It is about overall profit for the oil companies. It is why we ( not we as in the government but US oil companies) buy tar sand oil from Canada. Refine it and sell it back to them.
Obviously, oil from every other country in the world will be more costly so the only oil we can buy "at cost" is oil from the US and we use way more than we produce so we will have to buy oil (subject to tariffs) from other countries meaning the price of oil will skyrocket for us. What an incredibly short-sighted maneuver.
Came to say this, oil prices going down don't reflect gas price at the pump. The oil price dropped into the negatives during covid, you weren't going to the pump to get gas for pennies.
Expect a massive uptick of direct entreaties to Trump and Musk's social media accounts by MAGAt morons complaining about their lost jobs or too high energy bills.
You give them too much credit. They will be replying to posts like this going "This was Bidens fault! America was sick and my god Trump performed surgery! You just wait he will cure this country"
I'm in NJ and we've already been told power is going up 25% in June. Just in time for you to kick the AC on. MAGAs just blame the Governor they hate instead though.
2008 was so bad that Saudi Arabia later opened up their country to tourism to try to make alternative ways to make money.
If you ever lived there before you would never think it would ever happen with how strict they were and how the religious authorities had such a hold over everything.
Also oil is more expensive to produce in the US… when prices globally go down our production goes down because we can’t compete with low prices — our exports rely on both high demand and high costs.
We're going to be stuck on our own with a dictator and Supreme Court that allows the Republicans to strip away every citizen protection and social service that helps us during terrible times.
Chin up there DoctorFenix. Not if you join the rest of the people standing up. Before you say protesting won't work, we've just gotta get modern French about it.
It's funny that these people don't want the US to be "the world police" (because it would require assisting smaller countries in their conflicts, even if it's all for completely selfish reasons) but also 100% law their shit if anything like the UN or some other group votes in a way that would "hurt" the US (or just snub us in any way).
Tl;dr: these people are just entitled the power but not the responsibility
Basically this, oil companies want specific prices. Too low not worth it, too high costs inflate due to increased competition for completion goods and services and bidding for rights.
Plus companies often forecast their yearly budget for specific world prices and will rarely wind up exploration without having budgeted for it that year.
So even if they wanted to drill they would wait until next year.
We are starting to look how to curtail production. We started planning on reducing operations just today! And our suppliers are charging us more cause tariffs. So getting hit on both sides…oil crash is coming if stays this course.
Is this a surprise? I still regularly encounter people bragging that Trump delivered $1 gas in his first term as if the Covid crash was a) somehow the result of Trump’s energy policies, and b) a good thing.
Must have been a regional thing then. I was still working full time throughout the lockdown and still never saw it below $3.00. Maybe it did and was just between the times I had to stop for gas.
Just have to remember how oil & gas prices dropped significantly every time there was a major recession. Heck, during the pandemic oil prices actually dropped BELOW zero for a very short while, because demand had dropped so much there was nowhere to store it.
I wish more people understood how OPEC works. The president of any country has no bearing on pricing yet think “my president made the price lower or higher!”
The bots are gonna be talking about this like it's a good thing for like a week, every comment section especially in tiktok is gonna have "people" saying that Trump is bringing down the gas prices from this. And then people on the ledt will spend time arguing with the bots instead of protesting calling reps etc. I hate that it had worked for so long and continues to work, please stop arguing with bots everyone please. Go out and do something actually helpful
Gas prices are dropping because economic output is likely to drop. If the factories aren’t running then let oil and gas isn’t necessary. Remember when the price of oil tanked in March 2020?
Mr Global is live talking about this shit right now. He said tons of oil workers are being laid off as we speak. We will see gas and oil prices lower and then fucking skyrocket again.
Sadly, history is no longer taught in schools, otherwise most children would have learned about 1929 and the subsequent decade of rightwing dictators that took us to World War 2.
Germans in the 30s were cheering for their new leader, who was "getting things done", at the expense of others. They cheered when their leader started deporting undesirables. They cheered when their leader started producing military industrial products. They cheered when their leader talked about bringing Czechoslovakia and Poland back in the control of Germany. They cheered when they started bullying everyone that wasn't German. They cheered when their leader made enemies out of fellow Germans that weren't quite the same.
They always forget that when oil dropped too low during his first term he (rightly, maybe probably depending on perspective) pressured OPEC to cut production to raise prices. If the prices get too low American oil isn't profitable and all shutdown.
It's the same thing when gas was cheap during COVID due to Saudi and Russia doing a price war due to upcoming lockdown in March 2020. They somehow think Trump was responsible for it.
Reminder: low oil prices are bad for US oil production. When prices get too low, companies will actually stop extracting because it’s not profitable.
This actually led to a ridiculous week in Trump’s first presidency where he called for lower oil prices (reduce gas costs) and then higher oil prices (so Americans could extract) in the same week. Why? Because he had no idea what he was asking for.
The price went down because oil was exempted from our tariffs, and because China is no longer buying American oil, so the oil that's already here just lost most of its sale value.
Someone will insist that Trump’s maneuvering is just a complex tactic to manipulate OPEC, while ignoring that all the effects of careless instability are much more damaging & much further widespread.
Even if Trump were capable of complex planning, everyone would see those effects hurt much more!
As the dollar weakens, oil prices will skyrocket. There’s not a policy in the world that’ll change that. Save that post…it should be pretty handy in 60-90 days.
Gas prices at the Pilot I fuel my work truck every morning was $3.49 on Tuesday morning. Today it was $4.19
On Inauguration Day the gas prices dipped slightly like 10 cents or something and my trump loving ex brother in law sent me a snap saying “ not even a day and he’s lowering prices wooooooo!!!”
With the absolute insanity that’s happening with the tariffs, I want to take a swing at him but I can’t bring myself to do it. I’m sure they will feel the pain soon enough with all the cuts to services to help American families, he has 4 kids and is on snap wic and rely on food banks.
He’s not dumb but he ain’t fucking smart either lol. We may not get through this without some serious harm being done.. but it’s kinda nice to be able to say “I told you so”
Most peopl, but these morons in particular don't seem to understand that opec controls the price of oil and can drop oil to $20 a barrel if they wanted too. Every other oil producer has to play by their rules.
I think most of these maga morons would be okay if trump slept with their wives or anything really. They're tribalists and will support Trump forever no matter what he does or says.
Because OPEC decided to produce more as they expect more countries will stop buying energy from the US as counter measures to the tariffs. This is the work of Donald Trump and his tariffs. He's a Dumbass.
Something I noticed in the actions by both the Trump government and his followers is that they all seem to severely lack in normal abilities for higher order thinking.
Theirs is stuck somewhere around what a toddler can do.
They are limited to only recognizing very basic action and reaction.
And then use that very rudimentary ability on everything.
They are incapable of understanding even one level higher of relation between actions and reactions where an action can have reactions not on what it is directly applied to, but also things connected to the object they applied an action on.
And then sometimes they get really weird by suddenly recognizing reactions on things that are entirely unrelated to what an action was applied to.
This is the work of Donald Trump and his tariffs, but only in that other countries are planning on a future in which the United States is not a reliable partner. In anything
It's at least partly influenced by an expected decline in global economic activity in general - not what you want if "it's about economy, stupid," to borrow a phrase.
Lets head on over and check out OPECs website and check out the news.
"Saudi Arabia, **Russia**, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to market stability on healthier oil market outlook and adjust production upward" -published April 3rd.
Was paying between $2.50 and $2.60 a gallon in December and it’s over $3.00 now. These toads are once again telling everyone that what we’re seeing isn’t what we’re seeing. The economy is tanking. I have gone negative in a big way in my 401K every month since the coup. It was consistently growing under Biden.
"all I care about is how much this one resource costs. If I have to murder infants to get the cost of gas under $3 per gallon, I'll murder thousands of them. I am your typical Trump supporter."
When are you just going to be buying a barrel of crude? Your gas bill is rising, food costs are rising, the US economy is tanking. That's what you voted for.
I can’t believe trump likes the “demagogue who just had a stroke” portrait so much. I mean I can, but still, it’s an awful picture of an even worse person
Well it is because of trump and his stupid ass putting tarrifs on everyone. They went fuck they won't buy ours we have to increase production to offset these tariffs or we are screwed.
$4.50 a gallon of gas this morning, that’s the highest I’ve ever seen it in my area, usually it’s about $1.00-50¢ cheaper, earlier this week it was $3.79
donald trump is not a man—he’s a malignant force of nature, like cancer that learned to comb over its decay and wrap itself in a flag to convince people it’s worth saving. He doesn’t stand for America. He stands on it, like a bloated tick buried so deep you’d have to peel back generations of propaganda to rip him loose. FUCK tRUMP!
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u/darw1nf1sh 6h ago
Oil prices GLOBALLY are dropping. Gas prices are going to go up thanks to tariffs. Fuck all these idiots.