Anyone else notice a .30 cent spike in gas prices? Here's why.

[Winston]

You took Macro Econ? What causes inflation? Too much money chasing too few goods? What would you expect to happen if you did several Trillion dollars in Government spending just as the country was coming out of an extended lock down due to Covid and that was paired with serious supply chain issues, White?

To be blunt? This wasn't a Trump problem. This was a Biden problem.

During Covid incomes declined significantly. Layoffs, loss of business, a recession. But, for the only time in US history real incomes, due to government transfers, like those extended unemployment benefits, those Covid checks, increased. It had never happened before.

Now, one can argue that those transfer payments kept us out of a recession. Those with lower incomes quickly spent the money. But, those with higher incomes, better positioned, they banked that money. Savings rates went to levels we haven't seen in years. Once the economy opened up, they let that money go. The "more dollars" didn't show up till Biden took office. And, as the supply chain got back under control, the "fewer goods" part of the equation started to evaporate. That will be Biden's legacy. His battle against inflation, including the infamous IRA, will be a Macroeconomic lesson for generations.

 

[Winston]

The tariffed products will be less expensive as they raise prices. That is why they cannot do it without cutting their own throats. Trump can take tariffs off just as quick as he puts them on. It is the company's best interest to keep their market share or lose it all if they screw themselves. Oh, I forgot you got your economics education from the back of your Count Chocula box!

While I have real doubts about your Macroeconomic knowledge, your Microeconomic knowledge is absolutely non-existent. Domestic companies are not going to cut prices due to tariffs. Matter of fact, they will increase them to match the cost of the tariffs for non-domestic producers. If a domestic company has a production cost that is ten percent higher than imports, and a 30% tariff is implemented, they are simply going to increase their price to just under the new cost for the imported goods. It is already happening.

Lobsters. They can be sourced from Canada or the US. At least the live ones, don't even get me started on warm water lobsters out of Brazil. Prices increased by 25% a couple of weeks ago. Why? Anticipation of tariffs.

Here is your Micro lesson. I am sitting in an MBA class. We have the head of Procter and Gamble's pricing department visiting. He holds up a can of deodorant. He asked the class, "How do we determine the price to charge for this can of deodorant"? I am all over it, Econ major, I wax eloquently about marginal cost curves, maximizing contribution, the whole nine yards. Proud of myself. He laughs. "Son, we charge whatever the hell we can get, it cost us nineteen cents to make this product".

 

[Concerned American]

I've noticed no such recent rise here in Twin Falls, Idaho. Cheap gas is at $2.97 gal at the Walmart. Sinclair is $3.05. Both of those prices haven't moved in at least a week.

We've had a minor jump in WA, but that happens from day to day in this democrat hell hole. Carbon taxes, don't you just love 'em.

 

[sealybobo]

I commented last week how Biden's action could cause a spike in gas prices.....Well it wasn't long in coming was it?

https://conservativebrief.com/biden-order-88708/

President Joe Biden is making a change before he leaves the presidency that could saddle President-elect Donald Trump’s administration with higher gas prices.

He waited until now to enact new sanctions against Russia that are likely to raise prices at the pump as Trump prepares to take back the White House, and he would not answer questions about his reasons for it.

A reporter asked him at the press conferences why he waited so long to impose the sanctions, and did it right before Trump regained the presidency.

“Mr. President, you talked about gas prices coming down. You made today’s decision about sanctions against Russia. Are you concerned that that decision will perhaps lead to gas prices going up? And can you explain why those sanctions were imposed today and not earlier in the term?” the reporter said.

From what I understand Russia said "well FU", and cut their production.....Along with the Saudis planned 1 million a barrel cut it drove up the price and we are now paying for it.

Are you better off now than you were under Biden? Hell no. I was paying under $3 a gallon now I'm paying over $3 a gallon. Facts are facts.

 

[1srelluc]

Are you better off now than you were under Biden? Hell no. I was paying under $3 a gallon now I'm paying over $3 a gallon. Facts are facts.

$3.09 here, down a few cents since Trump took office. It was up to $3.12 inauguration morning in my AO.

Just checked, some stations (more frequented) are down to $2.99 now.

Trump effect.

 

[Cellblock2429]

I commented last week how Biden's action could cause a spike in gas prices.....Well it wasn't long in coming was it?

https://conservativebrief.com/biden-order-88708/

President Joe Biden is making a change before he leaves the presidency that could saddle President-elect Donald Trump’s administration with higher gas prices.

He waited until now to enact new sanctions against Russia that are likely to raise prices at the pump as Trump prepares to take back the White House, and he would not answer questions about his reasons for it.

A reporter asked him at the press conferences why he waited so long to impose the sanctions, and did it right before Trump regained the presidency.

“Mr. President, you talked about gas prices coming down. You made today’s decision about sanctions against Russia. Are you concerned that that decision will perhaps lead to gas prices going up? And can you explain why those sanctions were imposed today and not earlier in the term?” the reporter said.

From what I understand Russia said "well FU", and cut their production.....Along with the Saudis planned 1 million a barrel cut it drove up the price and we are now paying for it.

/—-/ I just pulled this from Gas Buddy.

 

[sealybobo]

$3.09 here, down a few cents since Trump took office. It was up to $3.12 inauguration morning in my AO.

Just checked, some stations (more frequented) are down to $2.99 now.

Trump effect.

The price at the pump has jumped 10-15 cents in New Jersey over the past week and likely isn't coming down.

The price at the pump is rising, and experts say the frigid weather is partially to blame.
https://6abc.com/post/gas-prices-ri...tures-falls-other-factors-play-role/15827126/
They mean Republicans. Excuses.

MI current average 3.135? I paid $2.92 before Trump

Gas prices rise in Philly

Oregon up 17 cents

Trump promised to lower gas prices — but his tariffs could help raise them instead​

Up in Montana

What state are you in? Besides Denial?

 

[Conservative from Georgia]

I commented last week how Biden's action could cause a spike in gas prices.....Well it wasn't long in coming was it?

https://conservativebrief.com/biden-order-88708/

President Joe Biden is making a change before he leaves the presidency that could saddle President-elect Donald Trump’s administration with higher gas prices.

He waited until now to enact new sanctions against Russia that are likely to raise prices at the pump as Trump prepares to take back the White House, and he would not answer questions about his reasons for it.

A reporter asked him at the press conferences why he waited so long to impose the sanctions, and did it right before Trump regained the presidency.

“Mr. President, you talked about gas prices coming down. You made today’s decision about sanctions against Russia. Are you concerned that that decision will perhaps lead to gas prices going up? And can you explain why those sanctions were imposed today and not earlier in the term?” the reporter said.

From what I understand Russia said "well FU", and cut their production.....Along with the Saudis planned 1 million a barrel cut it drove up the price and we are now paying for it.

I noticed. I hate presidents who cause gas prices to spike 30 cents.

 

[Cellblock2429]

I noticed. I hate presidents who cause gas prices to spike 30 cents.

/----/ Then you must really hate governors who raise gas prices with taxes.

California levies the highest tax on gasoline at 70.9 cents per gallon (cpg), followed by Illinois at 66.4 cpg and Washington at 59.0 cpg. The lowest gas tax rates are levied in Alaska at 8.95 cpg, followed by Hawaii at 18.5 cpg and New Mexico at 18.9 cpg.

 

[sealybobo]

/----/ Then you must really hate governors who raise gas prices with taxes.

California levies the highest tax on gasoline at 70.9 cents per gallon (cpg), followed by Illinois at 66.4 cpg and Washington at 59.0 cpg. The lowest gas tax rates are levied in Alaska at 8.95 cpg, followed by Hawaii at 18.5 cpg and New Mexico at 18.9 cpg.

Why you changing the subject?

Donald Trump frequently pledged to reduce energy prices, with reports indicating he promised to cut energy bills and gasoline prices in half within 12 months of taking office, often repeating this pledge "dozens of times" during the 2024 campaign, such as in this video from September 2024. He often stated "your energy bill in 12 months will be cut in half"

Dude, energy costs are up. Way up. Even before the Iran war if you factored in all energy costs, prices were up. The only thing Trump had going for him was gas. Now he doesn't even have that.

 

[westwall]

/----/ Then you must really hate governors who raise gas prices with taxes.

California levies the highest tax on gasoline at 70.9 cents per gallon (cpg), followed by Illinois at 66.4 cpg and Washington at 59.0 cpg. The lowest gas tax rates are levied in Alaska at 8.95 cpg, followed by Hawaii at 18.5 cpg and New Mexico at 18.9 cpg.

Naaaw. Jake's a Marxist. He loves authoritarian government.

 

[sealybobo]

/----/ Then you must really hate governors who raise gas prices with taxes.

California levies the highest tax on gasoline at 70.9 cents per gallon (cpg), followed by Illinois at 66.4 cpg and Washington at 59.0 cpg. The lowest gas tax rates are levied in Alaska at 8.95 cpg, followed by Hawaii at 18.5 cpg and New Mexico at 18.9 cpg.

I live in Michigan. I don't give a rats ass what gas prices are in California

Average Gasoline Price Soars Past $4 A Gallon In U.S. For The First Time Since 2022​

U.S. gas prices soared past an average of $4 per gallon on Tuesday, marking the first time the threshold has been surpassed since August 2022, as President Donald Trump's Iran war continues.

The national average for a gallon of regular gasoline is now $4.018, up more than one dollar since the war began in late February.

 

[Natural Citizen]

$5.09 here at the local Shell station for the 93 octane that I use.

 

[Cellblock2429]

Why you changing the subject?

Donald Trump frequently pledged to reduce energy prices, with reports indicating he promised to cut energy bills and gasoline prices in half within 12 months of taking office, often repeating this pledge "dozens of times" during the 2024 campaign, such as in this video from September 2024. He often stated "your energy bill in 12 months will be cut in half"

Dude, energy costs are up. Way up. Even before the Iran war if you factored in all energy costs, prices were up. The only thing Trump had going for him was gas. Now he doesn't even have that.

/----/ I didn't change the subject. We're talking about gas prices. And who makes more in profit on gas? Not the oil companies, not the gas station, but the government.
A gas station typically makes between $0.05 and $0.15 per gallon of gasoline sold. On average, major oil companies earn roughly 10 to 37 cents per gallon of gasoline sold. Fed gas tax is 18.5 cents, and the states with the biggest taxes are California levies the highest tax on gasoline at 70.9 cents per gallon (cpg), followed by Illinois at 66.4 cpg and Washington at 59.0 cpg.

So who is responsible?

 

[Cellblock2429]

I live in Michigan. I don't give a rats ass what gas prices are in California

Average Gasoline Price Soars Past $4 A Gallon In U.S. For The First Time Since 2022​

U.S. gas prices soared past an average of $4 per gallon on Tuesday, marking the first time the threshold has been surpassed since August 2022, as President Donald Trump's Iran war continues.

The national average for a gallon of regular gasoline is now $4.018, up more than one dollar since the war began in late February.

/----/ Yeah, the Iranians closed the Strait of Hormuz in March. And oil is an international commodity. The US gets NO oil from the Middle East. We are energy independent. Prior to March, gas prices were trending down.

Gas Station Price Charts - Local & National Historical Average Trends - GasBuddy.com

Compare gas and crude oil prices over time for the US Average, Canada Average, and your hometown. View charts for the past month to 10 years.

www.gasbuddy.com

 

[Cellblock2429]

/------/ The oil crunch wil soon be over.

BREAKING NEWS: EXCELLENT NEWS. Today there is a recorded increase in maritime traffic in the Strait of Hormuz. Thanks to President Trump, the Iranian regime is obeying his orders to allow full passage in Hormuz.

 

[Cellblock2429]

/----/ The oil ETF USO is reflecting ease of transport through the Strait of Hormuz. 5 day chart.

 

[Yarddog]

/----/ Then you must really hate governors who raise gas prices with taxes.

California levies the highest tax on gasoline at 70.9 cents per gallon (cpg), followed by Illinois at 66.4 cpg and Washington at 59.0 cpg. The lowest gas tax rates are levied in Alaska at 8.95 cpg, followed by Hawaii at 18.5 cpg and New Mexico at 18.9 cpg.

And all we get for that tax here in california is a bullet train........ Oh wait!!

 

[Concerned American]

And all we get for that tax here in california is a bullet train........ Oh wait!!

We don't even get that in WA--just blantant theft of tax dollars- they don't even try to hide it. The democrats just laugh and say screw the taxpayer.

 

[Yarddog]

We don't even get that in WA--just blantant theft of tax dollars- they don't even try to hide it. The democrats just laugh and say screw the taxpayer.

Just hope they dont give you a bullet train too! lol