Falling Pump Prices Blunt Trump's Inflation Attacks on Harris

[BumRushDaShow]

Source: Bloomberg

September 7, 2024 at 8:00 AM EDT


Steadily falling gasoline prices are providing a tailwind for US Vice President Kamala Harris’ campaign for the nation’s highest office as Donald Trump seeks to rile inflation-weary consumers by attacking her record on energy.

Retail gasoline prices have fallen to a six-month low in the US and are only expected to fall further amid weaker-than-expected demand and a slumping outlook for the crude oil used to manufacture motor fuels. Regular unleaded was averaging $3.296 a gallon as of Thursday, down more than 10% from this year’s peak in April, according to data from auto club AAA.

The drop may provide Harris with a bump among voters who aren’t shy about blaming the White House for high gasoline prices, a key signal of how inflation is eating into their wallets, said Bob McNally, president of Rapidan Energy Group and an adviser in the George W. Bush administration.

A recent Bloomberg News/Morning Consult poll showed that roughly three in 10 voters in battleground states consider fuel prices the most crucial economic issue for them. In a portent of what may be in store for retail pump prices, benchmark New York gasoline futures have slumped to a 3 1/2-year low. Harris “is getting very lucky,” McNally said in an interview. “The most visible price in life is falling.”

Read more: https://www.bloomberg.com/news/articles/2024-09-07/falling-pump-prices-dampen-trump-s-inflation-attacks-on-harris?srnd=homepage-americas

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[BOSSHOG]

1. I don't vote relative to gas prices

I buy the most expensive gas available and it has gone down .20 cents a gallon in two months.

I tend to look at a candidates criminal record in deciding who to vote for.

[GB_RN]

2. Too Many People...

Think that the White House has control over gas. They’re ignorant (or just plain stupid) of the fact that the price of gasoline isn’t even really set by the oil companies, much less the White House. No clue that the prices are based on the global trade markets.

One more sign that our educational system has failed.

[onenote]

6. And others think that gas prices are always manipulated to help repubs.

It's a lot easier than understanding the complex economics of the global energy markets.

For example: https://www.democraticunderground.com/100219002542

[LeftInTX]

9. That's you and you're 1/160,000,000 or 0.000000625% of likely voters!

The general public does look at gas prices. I remember them soaring before the 2008 election and thought: "This should be good for Obama".

[BOSSHOG]

11. If gas prices tripled in the next six weeks

My vote wouldn’t change. Voting for trump will not lower gas prices, reduce immigration or neuter inflation. I need gas ergo I buy gas.

[LeftInTX]

14. Once again that's you and you're 0.000000625%..LOL

It won't affect my vote either and I'm also 0.000000625%, so together we make up 0.00000125% of the vote!

[GB_RN]

3. We're Down Quite A Bit Since Labor Day.

Prices here went up about the same time as the university students returned for the Fall semester. Prices then began to drop and we’ve gone from around $3.50 a month ago, to $2.79-$2.89, depending on the gas station (chain).

Not a fan of paying higher prices for gasoline, but I also recognize that lower prices - with attendant increases in driving - aren’t exactly good for the Earth’s climate. Damned if we do, and royally screwed if we don’t.

[Marigold]

4. Can we get those cardboard cutouts of Joe Biden again?

Remember those guys standing at the pumps with Joe Biden pointing to gas prices saying, "I did that!" ?

[cstanleytech]

5. Big oil doesn't want Trump or anyone like him right now and that includes OPEC.

After all if he did win there's a chance he could open up more land for oil drilling which would actually cause the price to go for the down further. So this time they actually want and need a Democrat who would say no to such a thing because it'll help them as they will rake in the money and then they will shift the blame to the person in office for the high price of gas.

[JoseBalow]

7. Thanks Joe!

[jvill]

8. But bacon is up eleventybillioneth percent!?!!!!!!!

… if you compare it to the cost of bacon in 1978…

[LeftInTX]

10. Inflation is down. I've finally been getting in-store $2 coupons for Indian food.

Saffron Road Butter Chicken/Chicken Masala etc: $4.38 with coupon: $2:38.
I'm stocking up..LOL

[BumRushDaShow]

12. You made me look up that brand

I usually make my own by hand (thanks to having a billion Penzeys spices).

[LeftInTX]

13. I'm lazy. I've also got alot of health issues. (Chronic sciatic) Frozen food and salad for me!

[BumRushDaShow]

15. Oh I get that

I recently discovered Amazon's "Aplenty" Orange Chicken (which is a frozen brand that yields me a bunch of dinner servings) and that turned out great so got another box recently (I normally made my own as I had a great easy recipe for it). I'm still doing home PT for a cervical strain so definitely understand (what a PITA ).

[LeftInTX]

16. I have never ordered frozen food over Amazon..I'm afraid it would thaw!

[BumRushDaShow]

17. They have it through "Fresh", where they actually pull it from their local stores, load it up that day

ahead of the delivery window, and deliver in a foil-insulated paper bag.