Gas price in your area?

[JonLP24]

69. I last saw $2.23

Gas prices are mostly out of the Presidents' control. I mean mostly by 70% which I'm low-balling. Presidents can certainly impact things, wars consume a lot of oil and there was much more of that going on. Investment into alternative fuels & efficiency can lower the demand. Geopolitics seem to play less a role then it used to--something like ISIS & Syria would have driven up the a prices a decade ago.

North American crude production certainly is a contributing factor but low prices would see employment losses in the states that saw the employment gains. Low gas prices can also be a sign of a higher unemployment -- less demand from less people driving to work(that doesn't appear to be the case for the US but I saw claims of East Asia struggling economies contributing to the low prices but I don't have much knowledge of that. The odds of global recession appear to be good. US is in good shape because the higher prices had a harmful effect as an oil importer but the low prices don't hurt because they aren't dependent on the oil industry. Individual states would be more effected, Wyoming is the most dependent.

My point is these prices are going to go up and down. Competitors have to offer lower prices to compete with the Saudi price which is a game changer aside from the usual supply & demand adjusting. Eventually everyone involved is going to cut back and the price will go back up.