Unprecedented plunge in Fourth of July gas prices

[Harry Dresden]

4.21 in vegas......

 

[miketx]

3.09 here.

 

[bigrebnc1775]

Uh oh. They're fixing to drop a bomb.

If you consider gas above 3 dollars a gallon lower these numbnuts have forgotten about the 2.25 a gallon gas we had during trump

 

[bigrebnc1775]

3.09 here.

3.29 3.50

 

[miketx]

If you consider gas above 3 dollars a gallon lower these numbnuts have forgotten about the 2.25 a gallon gas we had during trump

Not what I meant.

 

[bigrebnc1775]

Not what I meant.

My question wasn't directed to you sorry if you felt it was

 

[JustAnotherNut]

Due to state taxes, did you even read your own link?

And how much do you pay?

I filled up last week at the cheapest station @ $4.35 for cheap regular. Some stations are charging well over $5. Yes taxes are one thing and prices are another and either way we all getting ripped off

 

[Harpy Eagle]

And how much do you pay?

I filled up last week at the cheapest station @ $4.35 for cheap regular. Some stations are charging well over $5. Yes taxes are one thing and prices are another and either way we all getting ripped off

Two days ago I paid $3.21

 

[Captain Caveman]

Lower gas prices are everywhere for the big travel weekend for the 4th of July. This is good news for Americans and good news for the Biden administration as this time of year is typically peak gas pricing for the year. Even lower prices are in the future. Bidenomics taking root. : )

Fourth of July gas prices take an almost unprecedented plunge | CNN Business

And yet gasoline prices are much lower. The national average for regular gasoline dipped to $3.55 a gallon on Thursday, according to AAA. A year ago, a gallon of regular sold for an average of $4.87 a gallon. That kind of price drop is almost unprecedented.

During the week ending June 26, the average gas price was $3.57 a gallon, according to the US Energy Information Administration. That’s down by $1.30, or 27%, from the same period last year.

This is the second-biggest one-year price drop in the week before the Fourth of July since EIA data began 33 years ago, according to John LaForge, who leads real asset strategy for the Wells Fargo Investment Institute. The only bigger 12-month drop occurred during a historic downturn: the Great Recession. Gas prices plunged by $1.45 a gallon, or 35%, between June 30, 2008 and June 29, 2009.

The only way to get an unprecedented drop in fuel prices is to initially have an unprecedented hike in fuel prices. To conveniently forget the initial unprecedented hike and then blow your trumpet over an unprecedented price drop, is dishonest at best.

 

[JustAnotherNut]

The only way to get an unprecedented drop in fuel prices is to initially have an unprecedented hike in fuel prices. To conveniently forget the initial unprecedented hike and then blow your trumpet over an unprecedented price drop, is dishonest at best.

I see some grocery stores do that as well. Raise their prices, then have a sale on those items and the sale price is more than what was the regular price a month ago

 

[frigidweirdo]

Lower gas prices are everywhere for the big travel weekend for the 4th of July. This is good news for Americans and good news for the Biden administration as this time of year is typically peak gas pricing for the year. Even lower prices are in the future. Bidenomics taking root. : )

Fourth of July gas prices take an almost unprecedented plunge | CNN Business

And yet gasoline prices are much lower. The national average for regular gasoline dipped to $3.55 a gallon on Thursday, according to AAA. A year ago, a gallon of regular sold for an average of $4.87 a gallon. That kind of price drop is almost unprecedented.

During the week ending June 26, the average gas price was $3.57 a gallon, according to the US Energy Information Administration. That’s down by $1.30, or 27%, from the same period last year.

This is the second-biggest one-year price drop in the week before the Fourth of July since EIA data began 33 years ago, according to John LaForge, who leads real asset strategy for the Wells Fargo Investment Institute. The only bigger 12-month drop occurred during a historic downturn: the Great Recession. Gas prices plunged by $1.45 a gallon, or 35%, between June 30, 2008 and June 29, 2009.

Might have something to do with Russia trying to screw the Saudis over

 

[citygator]

If you consider gas above 3 dollars a gallon lower these numbnuts have forgotten about the 2.25 a gallon gas we had during trump

People are making more now and what was the economy doing and how was unemployment? You're better off now.

Low-wage workers have seen historically fast real wage growth in the pandemic business cycle: Policy investments translate into better opportunities for the lowest-paid workers

What this report finds: Between 2019 and 2022, low-wage workers experienced historically fast real wage growth. The 10th percentile real hourly wage grew 9.0% over the three-year period. This tremendous real wage growth at the lower end of the wage distribution was exceptional, significantly...

www.epi.org

Our analysis focuses on changes in real wages between 2019 and 2022. In this report, we largely ignore what happened in the intervening years—2020 and 2021—given labor market dynamics that caused dramatic swings in job losses and gains.1

We divide the wage distribution into roughly five groups to uncover recent wage trends at different wage levels. Figure A displays wage growth at the 10th percentile (“low-wage”), the average of the 20th–40th percentiles (“lower-middle-wage”), the average of the 40th–60th percentiles (“middle-wage”), the average of the 60th–80th percentiles (“upper-middle-wage”), and the 90th percentile (“high-wage”) using Current Population Survey (CPS) Outgoing Rotation Group microdata (EPI 2023a). See the appendix for more information about why and how we selected these data measures and their robustness to our conclusions throughout this report.

Real wage growth at the 10th percentile was exceptionally strong—even in the face of high inflation​

Between 2019 and 2022, hourly wage growth was strongest at the bottom of the wage distribution. The 10th-percentile real hourly wage grew 9.0% over the three-year period. When we look across the wage distribution, we see wage growth declining for each successive wage group until we reach the high-wage group. Compared with the 9.0% wage growth at the bottom, growth was less than half as fast for lower-middle-wage workers (3.9%) and less than one-third as fast for middle-wage workers (2.4%) between 2019 and 2022. Upper-middle wages grew even more slowly at 1.8% over the three-year period, while the 90th-percentile wage grew 4.9%—faster than the middle wages, but not as fast as the 10th-percentile wage.

 

[bigrebnc1775]

People are making more now and what was the economy doing and how was unemployment? You're better off now.

Low-wage workers have seen historically fast real wage growth in the pandemic business cycle: Policy investments translate into better opportunities for the lowest-paid workers

What this report finds: Between 2019 and 2022, low-wage workers experienced historically fast real wage growth. The 10th percentile real hourly wage grew 9.0% over the three-year period. This tremendous real wage growth at the lower end of the wage distribution was exceptional, significantly...

www.epi.org

Our analysis focuses on changes in real wages between 2019 and 2022. In this report, we largely ignore what happened in the intervening years—2020 and 2021—given labor market dynamics that caused dramatic swings in job losses and gains.1

We divide the wage distribution into roughly five groups to uncover recent wage trends at different wage levels. Figure A displays wage growth at the 10th percentile (“low-wage”), the average of the 20th–40th percentiles (“lower-middle-wage”), the average of the 40th–60th percentiles (“middle-wage”), the average of the 60th–80th percentiles (“upper-middle-wage”), and the 90th percentile (“high-wage”) using Current Population Survey (CPS) Outgoing Rotation Group microdata (EPI 2023a). See the appendix for more information about why and how we selected these data measures and their robustness to our conclusions throughout this report.

Real wage growth at the 10th percentile was exceptionally strong—even in the face of high inflation​

Between 2019 and 2022, hourly wage growth was strongest at the bottom of the wage distribution. The 10th-percentile real hourly wage grew 9.0% over the three-year period. When we look across the wage distribution, we see wage growth declining for each successive wage group until we reach the high-wage group. Compared with the 9.0% wage growth at the bottom, growth was less than half as fast for lower-middle-wage workers (3.9%) and less than one-third as fast for middle-wage workers (2.4%) between 2019 and 2022. Upper-middle wages grew even more slowly at 1.8% over the three-year period, while the 90th-percentile wage grew 4.9%—faster than the middle wages, but not as fast as the 10th-percentile wage.

Another Trump Russian collusion cultists making up shit

 

[citygator]

Another Trump Russian collusion cultists making up shit

Link?

 

[para bellum]

That would depend on where they live.
Washington State now holds the highest price for a gallon of gas.
The high prices are generally caused by high taxes.

Yessir, this was last Thursday in Vancouver.

 

[para bellum]

Real wage growth at the 10th percentile was exceptionally strong—even in the face of high inflation​

Between 2019 and 2022, hourly wage growth was strongest at the bottom of the wage distribution. The 10th-percentile real hourly wage grew 9.0% over the three-year period.

And what was the rate only taking into consideration the time after Biden took office? I bet the real growth in that period was almost entirely 2019 and 2020.

Inflation has eaten up all of the nominal wage increases and then some. I took my nephew and his girlfriend to breakfast today in a little local cafe.

A year ago, bacon and eggs breakfast was $9. I haven't gone out to eat in a while, but I had a hard time keeping quiet this morning- it was $18. Everything on the menu was exactly doubled.

 

[Harpy Eagle]

And what was the rate only taking into consideration the time after Biden took office? I bet the real growth in that period was almost entirely 2019 and 2020.

Inflation has eaten up all of the nominal wage increases and then some. I took my nephew and his girlfriend to breakfast today in a little local cafe.

A year ago, bacon and eggs breakfast was $9. I haven't gone out to eat in a while, but I had a hard time keeping quiet this morning- it was $18. Everything on the menu was exactly doubled.

You might want to think about moving, you are getting ripped off

 

[para bellum]

You might want to think about moving, you are getting ripped off

Good answer.

Real Wage Growth by Demographic and Job Characteristics, 2022

 

[iamwhatiseem]

Citygator - "Thank you sir may I have another!!"

 

[para bellum]

You might want to think about moving, you are getting ripped off

And since you didn't answer my question, I looked it up.

This graph tells the part of the story the left-wing EPI conveniently omits. Only last March did wages finally break even with inflation.

Wage growth vs inflation U.S. 2024 | Statista

The rate of inflation overtook the growth of wages in April 2021. High rates of inflation means that consumers are seeing a decrease in purchasing power

www.statista.com