Yep, as the recession deepens and inflation rocks family spending, this is expected.
OF COURSE...
the communist Obiden administration opened up drilling for VENESUELAN CRUDE.
They wouldnt think of domestic production. They only favor drilling when it benefits his communist dictator buddies.
When does the Strategic Oil drawdown end? Or has it already ended?
NYS, with some of the highest fuel taxes in the country, has gas prices below the national average????
“The gas prices are possibly going to go under $3 on a national average soon, according to GasBuddy. In fact, gas at a couple of Western New York gas stations is $2.95 or less.”
Would be interesting to see the figures on gas consumption.
Has consumption dropped enough to cause a small temporary glut in supply.
I’ve been very careful on unnecessary travel lately. I’ll wait another week to see if I should fill up all my vehicles and 5 gallon cans.
In what direction are numerous economic indicators pointing?
Is there a real estate bubble in the US and China?
Anyone know the last three quarters of China’s GDP?
What exposure to housing do BlackRock, Vanguard, REITs, etc have?
How are Credit Suisse and Deutsche Bank doing?
TSMC cut production by 50%.
Feel free to add more wonderful news.
Paid $3.299 per gallon in NNJ yesterday.
Whoo daddy. It felt like Throwback Thursday.
I’ve got a bunch of “I Didn’t Do That” stickers for sale if anyone’s interested.
Believe it or not FOOD prices in grocery stores are STILL trading in the WRONG direction and getting higher. Gas price is not the only indicator of a Biden induced failed economy. Last report had 100,000 LESS people needing to go to work and use gas because those jobs were LOST.
Nowadays I just kinda glide by the meat aisle like my wife and I used to do when we were out on a Sunday just looking at homes we COULD NOT AFFORD and dreaming of ‘some day.’
big deal...i don’t drive much in this tundra.
Western NY isn’t “NY” and hasn’t been for decades. It tipped over into the Midwest decades ago.
I'm here and I doubt it - unless one of the Indian Reservations 20+ miles from downtown Buffalo is cutting rates. The Indian Reservation I visited last week was at $3.34/gallon.
Average prices at stations at busy intersections is $3.60-$3.75/gallon
Last month, I believe, fuel demand was below that of the lock downs of 2020.
So, huge reduction in demand (i.e. can’t drive as much due to rise in the cost of everything) and huge increase of supply (emptying the Strategic Midterm Election Oil Reserve) equals a drop in price.
It’s artificial and not going to last, but it’ll hang around through March of next year... especially if a deep recession hits next quarter.
Wake me up when diesel prices return to $3.50 a gallon.
Are these year over year numbers? There was no switch to the summer blend that we all love this year.
For true yoy numbers you would have to go pre covid and adjust for true data points.
But… it’s always nice to spend less.
Last week went from TN to nw PA and back. Took a side trip to Seneca casino. Left Tennessee and paid 2.87 to fill up. North of Columbus, oh paid 3.67 for gas. In pa gas was 4.15 per gallon. Drove to Salamanca and gas in New York was still 4.15 per gallon. At the gas stations in Salamanca it was 3.85. lowest price we found in pa was 3.57, in Virginia it was 3.39 and finally back in Tennessee it was and still is 2.77. don’t know where or when the article author bought gas but certainly not last week.
Gas is $4.07 in Central NY
This Wednesday, bought gas in NJ @ $3.65
Demand destruction.
It’s the non-recession recession causing this, due to a drop in demand. JMO.