What the hell is going on with gas prices?

[William769]

can remember when not to long ago a gas price change was only a couple of cents at a time. Now it seems in the past couple of months gas prices will drop a penny or two but when it goes up it's by 30 to 40 cents!

I am a miser when it comes to buying gas and I always look for the least expensive close to me. It's been hit or miss (i'm in North Lee county Florida BTW).

Yesterday gas was $2.81 a gallon. Where I buy my gas you get points to get 10 cents off a gallon. I live to save my points to get up to a dollar off a gallon (I had enough pints for 50 cents off a gallon). With my pints I ended only paying $2.31 a gallon so I was able to get a full tank of gas for $31.64.

Last night going by the gas station I saw the price of gas is $3.36 a gallon! That's a 55 cents a gallon difference! If I would have waited till today, my discount would have me paying for the cost of gas at yesterdays price.

Not sure where I'm going with this, maybe just to vent?

P.S. I know there are higher gas prices other than here, it's the price difference that gas me going off.

[Jacson6]

1. We pay $5-6 a gallon here in CA. n/t

[BuddhaGirl]

16. I psid $4.09 at Costco near Berkeley this morning

2 weeks ago it was $3.79. Sheesh

[Jacson6]

19. I live in a rural area in CA. We pay out the nose for everything. 50 cents per kWh for electricity.

[Lemons UK]

2. .14/kWh here.

[Think. Again.]

3. The fossil fuel industry scrapes up every penny they can...

...whenever they can.

I suspect they have a team dedicated to figuring out when and where they can get away with exploiting whichever regional areas are ripe for profiteering at any given moment in time.

[William769]

6. That makes sense. Thank you.

[Blue Full Moon]

4. They want us to pay what Europe does.

The problem is that Europe's gas prices are all tax that pays for their health care and transportation systems. So if we are paying those prices? Where is our universal health care and transportation systems?

[William769]

7. Subsidy for the billionaires club?

[Blue Full Moon]

14. Yep

[Meadowoak]

12. Our gas would be around $8 per gallon if our taxes didn't subsidize it

To keep it fairly low.

[Blue Full Moon]

15. They get about 20 billion dollars for nothing

[Traildogbob]

5. $2.59 to &2.69

Here in WNC. Even through the busiest travel period of the year. And we are one of the furtherest destinations from main oil hubs that ship out.

[William769]

8. Thanks for listing that where you live.

[Traildogbob]

9. Was not that

Long after the flooding you could not get gas without an hour wait. And gauging was obvious.

[RedWhiteBlueIsRacist]

10. How long before "Fox" informs us what a bargain high fuel prices are?

Like they did during the "Bush" years.

[Xavier Breath]

11. Shoots up over night, takes weeks to fall.

Hasn't it always been that way? I mean, at least in recent decades? Seems I remember complaining about that years and years ago.

[William769]

13. I don't remember that drastic of a price hike till recently.

But this is spot on "Shoots up over night, takes weeks to fall."

[Mike 03]

17. FWIW, price of gas roughly an hour by car from Phoenix

appears to be:

$3.25 to $3.69

I don't know what accounts for rapid, dramatic shifts other than sometimes occur following a news event--for example a military threat to a major distributing nation, events in the Strait of Hormuz, etc... I keep hearing about oversupply. I believe events in Ukraine/Russia also have a large impact as the U.S. tries to export shortfalls to our allies. But really I'm not very knowledgeable about this.

Interesting thread.

[Kid Berwyn]

18. Funny how that works.

Alleged ‘deal’ offer from Trump to big oil could save industry $110bn, study finds

Ex-president at Mar-a-Lago last month hosted more than 20 executives, including from Chevron, Exxon and Occidental

Oliver Milman and Dharna Noor
The Guardian, Thursday 16 May 2024

A “deal” allegedly offered by Donald Trump to big-oil executives as he sought $1bn in campaign donations could save the industry $110bn in tax breaks if he returns to the White House, an analysis suggests.

The fundraising dinner held last month at Mar-a-Lago with more than 20 executives, including from Chevron, Exxon and Occidental Petroleum, reportedly involved Trump asking for large campaign contributions and promising, if elected, to remove barriers to drilling, scrap a pause on gas exports, and reverse new rules aimed at cutting car pollution.

Congressional Democrats have launched an investigation into the “ethical, campaign finance and legal issues” raised by what one Democratic senator called an “offer of a blatant quid pro quo”, while a prominent watchdog group is exploring whether the meeting warrants legal action.

But the analysis shared with the Guardian shows that the biggest motivation for oil and gas companies to back Trump appears to be in the tax system, with about $110bn in tax breaks for the industry at stake should Joe Biden be re-elected in November’s election.

Biden wants to eliminate the tax breaks, which include long-standing incentives to help drill for oil and gas, with a recent White House budget proposal targeting $35bn in domestic subsidies and $75bn in overseas fossil fuel income.

CONTINUES...

https://www.theguardian.com/us-news/article/2024/may/16/donald-trump-big-oil-executives-alleged-deal-explained

Oil, well: When it comes to capitalism: pocketing petrodollars beats democracy every time. Project 2025 will supercharge Drill Baby Drill.

[elocs]

20. In my WI city of 50,000 we have a convenience store (Kwik Trip) that controls the price of gas.

It went up today to $2.99 after lurking around $2.79, $2.89 for weeks until it just went up. The supermarket where I shop has it a dime cheaper than Kwik Trip.