Posted on 06/20/2022 3:24:20 PM PDT by ChicagoConservative27
NewsNation) — There’s some good news when it comes to the price of gas, but it may take a while for drivers to see it.
Gasoline futures hit an all-time high on June 8 and have fallen steadily ever since — the price of crude oil has dropped 10 percent since last Monday.
Yet while companies are now paying 28 cents per gallon less, the nationwide average has increased by a penny since actual prices began to fall.
(Excerpt) Read more at newsnationnow.com ...
Don’t get complacent folks.
It’s the bike accident. The markets are sensing that there may be an end to the idiocy.
All these decades “oil went down today but don’t look for relief at the pumps; that gas was refined and transported months ago.”
BUT....”Oil went up today; some gas stations have already raised pump costs to the drivers within four hours this morning according to our on the spot news reporters as you will now hear....”
And still remains close to three times the price as of the beginning of 2021.
Consistently saw $4.999/regular upon arriving in Charleston WV, although it was $4.799 along the way TO Charleston. Filled up at $5/gal!
Drove to Lexington, KY...didn’t need gas (big tank). Left Lexington, and halfway to Johnson City, spotted $4.49/gallon 90 proof, and topped off.
Got to Johnson City...saw $4.389. Unsure of the octane.
Joe Brandon has saved us!
When something hits the news which suggests that gas prices will go down, it is months before the gas prices go down.
Plummeting demand from folks too broke to go anywhere
Here comes the oil price crash and devastation for the economies of Texas, New Mexico, North Dakota, and Alaska.
And there’s always the outside chance it could have knocked
some sense into him.
Smile...
Either that or the lights go completely off.
Omg. Galaxy Quest Joe.
Oil is up a buck at the moment. Futures up too. Look for another bull trap rally this week.
But if Joe fixes the economy, pays down the debt, gets interest rates lowered, completes QT, and reverses inflation this week the markets could see a bottom. Then some QE and happy days are here again!
Demand destruction is not good news.
When the fascists steal dollars from you and then toss back pennies, do not be grateful.
“Plummeting demand from folks too broke to go anywhere”
Exactly right. It is not only gasoline that has gone up in price, but everyday goods that people need to survive on. People are going to cut back on travel as one measure.
Excellent post!
this was on probability of recession. it won’t last because supply is limited.
When it goes to $3.50 a gallon, I hope the American people see it for what it is? A scam to get their votes because they cut gas prices! n/s
Weren’t markets closed today?
A recession will cut down on demand. With the bad numbers last week, forward looking options traders may be thinking fallen, recession demand.
:It’s the bike accident. The markets are sensing that there may be an end to the idiocy.”
As dumb as Biden is, his understudy is even dumber.
It’s a no brainer, when fuel went up to nearly 6.00 bucks a gallon, people started driving less. They’ll do the same with all commodities. I know we have!
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