Recession
Demand destruction.
Mid-terms.
Diesel prices are going up, up, up -- and consumers are paying for that at the grocery store.
because the dems think it will help come november.
Stagnating economies aren’t good for oil prices... which are still nearly double.
Black Market oil found its way into the supply chain.
check any chart
the line zigs and zags while it trends up or down
think gas is trending down?
Ours are $3.19 at Wal-Mart today for regular and $3.29 at BP. Midterms coming up so prices are going down. While I’m glad they are down, I won’t celebrate until they are under $2 like they were with President Trump.
Wake me when they reach $1.99 - $2.09 again...
Then I can stop cussing when I fill the car (20 gallons) or the van (30 gallons) or the bass boat (24 gallons)...
The price is going down (now $3.85 around here) ONLY because the communists need the bragging points for the 2022 election...
IMHO, it will be back, higher than ever, after the elections no matter the outcome...
Sell-off of more than half of Strategic Petroleum Reserves (SPR).
Gasoline Prices to Rise to $5 by Year End; SPR Releases End Just Before Election
https://www.instituteforenergyresearch.org/fossil-fuels/gas-and-oil/gasoline-prices-to-rise-to-5-by-year-end-spr-releases-end-just-before-election
By the end of Dec. look for $5+ gal. of gas.
This is purely for the elections. All the bad policies are still in place driving up prices.
There may have been less demand due to higher gas prices for a while but as prices come down the demand would go up signalling higher prices. The short version is it’s being manipulated.
Just basic supply-and-demand economics.
Demand is dropping as the economy drops. Thus, prices adjust downward to create more demand. But consumers are not buying it due to higher prices on other goods.
When will oil prices go back up? When OPEC+ decides prices are too low for their purposes, they’ll decrease supply and up go prices.
$3.44 on average here in SE Virginia.
Oil prices are dropping
https://www.bloomberg.com/energy
There’s an election coming up!
End of summer driving season and summer blends.
Soon they will be shifting over to winter blends. Goes back up then.