Gator... please deal with the FACTS... the price is not ALMOST 60¢ more than early 2017 when it was $2.33.
Quarterly retail price of gasoline in the United States 2018 | Statistic
Average Gas price today:$2.88...
MOTORISTS SEEING UNEXPECTED GAS PRICE JUMPS AT THE PUMP
October 1st, 2018 by AAA Public Affairs
Today’s national gas price average ($2.88) is the most expensive for the beginning of October since 2014.
The average is four cents more than a month ago and
32 cents more than a year ago.
gas prices Archives - AAA NewsRoom
Now to educate you on the "whys"... but it won't do any good because you aren't into reality!
Supply and Demand. Like most of the things you buy, supply and demand affect both gas and oil prices. When demand is greater than supply, prices rise. For example,
U.S. shale oil producers increased the oil supply in 2014. Gas prices fell to their
lowest levels in five years. But that
shale oil boom reversed when low prices put many producers out of business.
Seasonal demand also affects oil and gas prices. You can expect them to rise every spring. Oil futures traders know the demand for gas rises in the summer as families go on vacation and hit the road. They start buying oil
futures contracts in the spring in anticipation of that price rise.
Commodities Traders. Commodities traders also cause high gas prices. They buy oil and gasoline at the
commodities futures markets. Those markets allow companies to buy contracts of gasoline for future delivery at an agreed-upon price. But most traders have no intention of taking ownership of the gasoline. Instead, they plan to sell the contract for a profit.
Since 2008, both gas and oil prices are affected more by the ups and downs in these futures contracts.
The price depends on what buyers think the price of gas or oil will be in the future.
When traders think gas or oil prices will be high, they bid them up even higher. In this way, commodities traders create a self-fulfilling prophecy.
This leads to an
asset bubble. Unfortunately, the one who pays for this bubble is you at the gas pump.
The Value of the Dollar Declines. Gas and oil prices also rise when the
value of the dollar declines. Oil contracts are all denominated in dollars. Oil prices rose between 2002 and 2014 because the dollar lost 40 percent of its value during that time.
Oil prices fell in 2015 and 2016 because a
strong dollar allowed
OPEC members to make more money while keeping supply constant.
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Learn Why Gas Prices Are High and What You'll Be Paying at the Pump
Finally think if Trump HAD NOT signed more oil leases than that Dummy Obama and kept up what Obama was doing?
Do you comprehend the term "LEAD TIME"?????????????
That means specifically in the case of that Dummy's NOT signing oil leases that companies weren't doing explorations then two three years later!
It takes TIME and money to explore and THEN ONLY then if there are oil leases signed!
This is one of the major reasons most idiots don't comprehend what happens economically in that it TAKES time to eradicate the damages done by idiots like OBAMA
who signed less than 1/2 as many oil leases as GWB did! So it takes time to then turn the ship around DUMMIES like you evidently think these thing happen on a dime!
WRONG WRONG!
AGAIN use that noggin and comprehend that when speak glowingly of Obama's economic prowess what you are doing is looking at the days events and NOT what was
preceding the events... i.e. GWB signed twice as many leases... meaning oil exploration was moving forward. THE oil companies were then producing from the leases
that GWB signed in the early 2000s. THEN the idiot came in and SIGNED 50% fewer leases.
AGAIN it takes TIME to overcome that stupidity.
BUT I don't understand how a "statistician" like you can't comprehend this FACT of life!
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