Posted on 06/15/2022 3:40:42 AM PDT by RomanSoldier19
With US gasoline prices hovering near record $5 per gallon nationwide, analysts have said demand destruction has already set in.
"One could argue that demand destruction for gasoline has already started ... Since the start of March, U.S. gasoline consumption is 6% lower than the corresponding period in 2019," Peter McNally, analyst at Third Bridge, told Yahoo Finance.
Ukraine War Since the start of the Ukraine war, the US gasoline prices have been spiking. However, the price spiral had set in even earlier, and analysts have pointed out that prices have nearly doubled from the day President Joe Biden took office. According to the Washington Times, the average price of a gallon of gasoline was $2.40 on Jan. 20, 2021, the day when Biden took office.
(Excerpt) Read more at ibtimes.sg ...
So do you think Biden will negotiate some sanction removal to get them back?
Obozo laughs.
In 2017 the vehicle miles traveled for “to/from” work and “work related business” were 33% of the total.
The other 2/3 of miles traveled were for shopping, other family/personal errands, school/church, social and recreational, and other.
I’d think that most of the latter categories are fairly sensitive to changes in the price of gas.
https://www.bts.gov/content/average-annual-pmt-vmt-person-trips-and-trip-length-trip-purpose
“So do you think Biden will negotiate some sanction removal to get them back?”
Seriously, considering the 1000 or so Americans left behind in Afghanistan.
The people running Biden are perfectly happy to have American mercenaries do their dirty work in Ukraine, but they assign zero value to those people as Americans. Maybe if some are dual-nationals, they might have a country that cares about them, but not if only American.
demand destruction for gasoline has already started
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As it has for food, fertilizer, and other energy and interest rate governed commodities.
The more abundant cheap energy you have, the the less things cost, the lower the interest rates, the more things you can make. The Trump Approach. Creates widespread wealth.
Conversely, the more scarce and expensive energy, the more things cost and the higher the interest rates, the few things you can make. The 0bama/Biden Approach. Creates poverty and Depression.
I’m sure; I was talking about young people who won’t have children if they believe it will prevent them from owning a vehicle (even one 15 years old).
There can be if a mass transit or carpool option presents itself; my wife works with people who routinely drive up more than an hour and a half (one way) from south Jersey a job in north Jersey - and when they asked for more money to combat gas prices, they were told to “take a bus” (despite the fact that no bus routes are nearby to use).
Rural parts of NJ would just require those people to drive a shorter distance to the closest mass transit hub; I don’t even know they’d save money at that point (and if time = money, then they wouldn’t save anything).
I heard: Stop expecting blacks to grow up into responsible citizens (which leads to what you heard).
This should.be no surprise to anyone who wasn’t asleep in their Econ 101 class. It’s the basic law of demand…higher prices mean less demand. The premise that these high prices will push the market to embrace the even higher price alternative of EVs is idiocy. Consumers might look for cheaper alternatives like trading in their gas guzzler for a used vehicle with better gas mileage but Biden inflation has made even used cars unaffordable for many and often unavailable. Consumers will simply drive less.
I have a 25 foot tow behind camper. I usually don’t travel more that 2 tanks full one way. It used to cost me about $100 in fuel one way. Now it costs $280.
So it is parked while I work on upgrades on it.
Bet RV parks businesses are hurting also.
The plan is working. People are driving less. Mobility is freedom, and the left HATES it.
We had these plans since last fall so we sucked it up and cut out extras to make up for the fuel cost, but even with that fuel went over what I had predicted. We travel south Florida in off season, so this time a year availability usually isn’t an issue here but I have noticed this trip we’ve had no issue finding a site during the 3 day drive down (MS and FL panhandle) when compared to last year when we had a tough time finding a place to stop for the night b/c there was nothing available. Also don’t seem to see as many RV’s on the road as in the past.
we also have an older RV and truck - diesel - filling up is a real shock to the wallet!
restaurants around here are EMPTY. no more lines outside fast food joints.
eating out is a luxury, and its the first thing common sense tells you to cut.....I feel so sorry for the people who will be losing their livelihood and life savings.
Yep, we have an older (pre DEF) diesel motorhome and get 9mpg; I think they need to put smelling salts next to the pumps. We cook in, and the only groceries we buy while here are perishables. We normally would visit Sanibel beaches a few times, but b/c it’s $5 toll to cross the bridge and $5 an hour to park, we’re sticking to the state and county parks. Yet the construction we see down here is mind blowing. Southwest FL recovered from 2008 nicely but Eventually the economic nightmare will trickle down.
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