das Surge
serge Posted on 07/17/2022 6:07:07 AM PDT by Libloather
Drivers relieved by the recent dip in gas prices may be in for a shock when the summer winds down, with energy analysts warning a fresh round of price surges could emerge as soon as October.
The prospect of a new gas price jolt coinciding with midterm elections has the White House and many Democrats on edge.
The price concerns are tied to the timeline for stricter sanctions on Russia that will further choke the global oil supply. J.P. Morgan has warned that in a worst-case scenario - in which Russia retaliates by shutting down its supply altogether - the price of oil could jump to $380 per barrel, more than triple what it is today.
“If you were to ask me where could oil prices go, I would say pick a number,” said Michael Tran, managing director for global energy strategy at RBC Capital, who says that while the outlook is murky, several indicators point to a price rebound. “This is the tightest oil market we have seen in a generation or more.”
The worrisome prognosis for consumers, coming as the nation is already struggling with historic levels of inflation, has the Biden administration grasping for interventions that could bring relief.
Yet U.S. political leaders are confronting the reality that even the most aggressive domestic political and policy measures often have scant impact over prices in a global oil market guided by forces out of their control.
Economists across the ideological spectrum warn that the measures the White House is promoting - allowing Russian oil into the global market at reduced prices, taxing oil company “windfall” profits, cutting the federal gas tax - could ultimately aggravate the energy crunch in the United States, rather than ease it.
(Excerpt) Read more at washingtonpost.com ...
Yep talked to one of the neighbors at my rental property who is “not a Trump supporter” and she was glowing about how the gas went down about 20 cents. I quickly reminded her that it was at 1.89 here in NYS under President Trump despite the pLandemic.
What will happen to prices when Biden runs the strategic petroleum reserve dry?
China blockades and possibly invades Taiwan.
serge Just wait until heating fuel is in demand. Many people will freeze to death this winter.
End all of the boomeranging suicide sanctions and make deals to ensure the free flow of fuel, fertilizer, and food.
totally agree
people are going to vote "how they feel at the moment"
This is the DemoPedo Party way. Break both your legs and raise your taxes so they can hand you one “free” crutch.
In Illinois, we have price hikes guaranteed. The Democrats have passed two additional gas tax hikes scheduled to take effect after the midterms. They also are forcing gas station owners to display stickers that give the Democrat-dominated state government credit for holding the line on taxes.
Biden will be pleased and proud on his special Labor day. Big labor always causes a rise in gas prices on it’s it’s Juneteenth day in September
Just wait until it is time to buy heating oil this winter!
“Didn’t Gropin’ Joe just score some clean, earth-friendly oil from Saudi Arabia? “
apparently not ... supposedly SA gonna think about it for a few weeks/months
No way—the price will drop until after the election. In what form will the “October Surprise” be? What can we deduce.
A) It must be really big and be something that will shock the nation. B) It must be so horrible that it brings on an emotional response from Voter blocks. C) It must tarnish the GOP in a big way. D) it must be something New! Like George Floid’s Death- the Video of a man dying under a cop’s knee. So ideas that came to me—you may add your own to the list:
1) The assassination of a prominent Democrat by a Loony Trump follower. (Like Bill Clinton, Harris, Hillary, Biden) Nut shoots Bill Clinton, Hillary rushes to the hospital, the Nation waiting—will he live or die? The Nut Assassin boasts of killing on n Left with a “hit List”. Bill dies, and Hillary gives the speech of her life—blames Trump. All people he endorsed would be defeated.
2) Terrorist capture a Hollywood gala and threaten to kill the stars unless US stops sending arms to Ukraine. Biden manages to free the hostages and vows to never give in to terror. Maybe you have your own scenarios?
I was watching an episode of ‘Rockford’ tv show from 1977 and he stopped at a gas station and the price of gas was 65.9 cents a gallon!!!!
Now it is nearly 10 times more!!
In 2020 the average price was a little over $2.00
2022 January onward 3.413 / 3.611 / 4.322 / 4.213 / 4.545 / 5.032
California price April 30, 2020 / 2.827 !
Prices are now regularly over $6.15 and sometimes over $7.00 !!
Here are 2 links to charts showing historical gas prices.
US prices:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m
California prices:
https://ycharts.com/indicators/california_retail_price_of_gasoline_monthly
It's the Washington Post - they're stenographers for white liberal 'elites'...propaganda pushers, corrupt butt boys for the party.
The switchover to winter blend gas will bring some relief but the demand for home heating oil will negate it IMO. We’re in this cycle for the long haul.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.