The price of Gas, and the upcoming election

Gas prices seem to always go down before an election.

Denver
Was about $3.70
Down to $2.99 as of yesterday

originally posted by: intrptr
I don't about anyone else but lower gas prices aren't going to make me want to vote more. And vote for who anyway, Exxon?

Sorry OP, done about why prices go up or down.

Shhhhhhh! They'll hear you!

Then they won't do it anymore! hehehehe.

It will never sway my vote, but I certainly don't mind them doing it.

However: it does show that they prices of fuel are way over inflated.

Which means so is food. WAY too much. The main argument about food prices being up is due to fuel costs.

So why when the fuel costs drop down, food never does? It always stays....until the next fuel cost increase, to which they raise it again and again, it stays like that.

a reply to: eriktheawful

Supply and demand. As long as we keep buying at the higher price, they'll never lower it. Basically, it's their turn to gouge the hell out of us consumers. They only lower it when they realize we aren't going to pay that price and find something else.

same thing's been happening here [san antonio, tx]

right around 3.29 a few weeks back.

now it's about 2.88, and i've even seen one place that had gas at 2.65/

keeping mah tank topped off until it starts going back up again around the first week in november.

lol

a reply to: chiefsmom

Hmmm... well our small town and county is usually a little higher than the average in the state. I'll be hitting the pump before I go to work tonight so I hope ours dropped a little bit.

Fingers crossed

originally posted by: Rezlooper
a reply to: eriktheawful

Supply and demand. As long as we keep buying at the higher price, they'll never lower it. Basically, it's their turn to gouge the hell out of us consumers. They only lower it when they realize we aren't going to pay that price and find something else.

You and I certainly have disagreed in the past, but this?

Oh I'm WITH you on this!

Star from me!

a reply to: eriktheawful

So why when the fuel costs drop down, food never does? It always stays….until the next fuel cost increase, to which they raise it again and again, it stays like that.

Because they are 'making up' for the loss before they raised food prices. Playing catch up to what their profit margin used to be. Problem is like you said, price of gas goes up again and again.

I heard somewhere that this is because they are constantly printing more money which reduces its value so they have to charge ever more for goods and services to "make up" for the loss.

Fiat currency, backed by nothing but our belief in it. Or something like that.

a reply to: Rezlooper

They only lower it when they realize we aren't going to pay that price and find something else.

There isn't 'something else', though. When prices are highest( or too high), people drive less and to entice, they drop the price a little bit.

Its this game they play with their margins. They don't see the individual struggle to make needs meet, they see the slight loss over all and they reduce price to bring the cash flow back up.

I forget what they call it, but I'm sure its illegal. Exxon makes hundred of billions a year off gasoline, they can afford to give everyone a bigger break than a few pennies a gallon. Problem is, from their perspective they are used to their enormous profit margins and 'less profit' is a loss. Can't operate at a loss, now can they.

Brevard County, Florida

$3.10 per gallon as of today.

It's at $3.05 here in Atlanta. Unheard of since oh...well hell I can't even remember when it was last this low.

This is pretty easy to explain. Gas prices tend to rise in the summer do to increased driving and drop in the fall. Elections are held in the fall as gas prices naturaly drop. Although in this case we may see continued drops all way into 2015. To much oil being pumped out and no real threats to the major oil producers is good for consumers and so long as that continues prices will be stable or dropping.

originally posted by: intrptr
a reply to: Rezlooper

They only lower it when they realize we aren't going to pay that price and find something else.

There isn't 'something else', though. When prices are highest( or too high), people drive less and to entice, they drop the price a little bit.

Its this game they play with their margins. They don't see the individual struggle to make needs meet, they see the slight loss over all and they reduce price to bring the cash flow back up.

I forget what they call it, but I'm sure its illegal. Exxon makes hundred of billions a year off gasoline, they can afford to give everyone a bigger break than a few pennies a gallon. Problem is, from their perspective they are used to their enormous profit margins and 'less profit' is a loss. Can't operate at a loss, now can they.

I'm simply referring to supply and demand. They won't lower the prices back to where they were prior to oil prices climbing as long as we consumers are going to pay for it. Such as beef right now...its price continues to climb but we continue to pay for it. If the demand is there, they won't drop the price. Take for example the price of grapes, which is also very high...but let's say strawberries were cheap (which they aren't) and everyone decided to pass on the grapes and buy strawberries, then the price would go back down.

originally posted by: MrSpad
This is pretty easy to explain. Gas prices tend to rise in the summer do to increased driving and drop in the fall. Elections are held in the fall as gas prices naturaly drop. Although in this case we may see continued drops all way into 2015. To much oil being pumped out and no real threats to the major oil producers is good for consumers and so long as that continues prices will be stable or dropping.

That's what one would assume and that once was the case...years ago. That's not the case anymore. Gas prices have been in the upper three dollars for at least the past five years and they haven't dropped down in the winter time. This is the first time the national average was down below $3 a gallon in that time and it's because Obama needs all the help he can get to keep dems in control. All the polls are currently predicting that the dems are going to lose the Senate. The big oil executives know this and like I said in an earlier post...they love Obama. He is an oilman's wet dream despite what one would think...republicans are about big oil and democrats are about alternative energy. This is normally the case, but Obama isn't your every day liberal. He's a crook!

a reply to: DonVoigt

In Indianapolis prices went from about 3.70-3.60 to about 3.50-3.17

I have noticed this too. Then right after the next guy is elected 6 months later they'll say how much cheaper it was at the start of Obama's presidency or some #....

They did that with Bush...Made it sound like when Bush left office gas prices were so much cheaper...but I remember them being just as high....seriously...it was around 3.50 when he was in office too.

Was about #.28 a few weeks ago.....today I saw it as $2.89.

Could be the election.

But, we heard that OPEC will shortly decrease production....because the price of crude is dropping too much.
Supposedly, the price you pay today was determined like 2 months ago....something like that......maybe someone can be more accurate than I.

It's an editorial.....but interesting nonetheless.
The Upside of Lower Oil Prices

American oil production is soaring, and lower prices could slow production of shale oil, which is expensive and needs higher prices to be profitable. But lower oil prices mean reduced costs for consumers and businesses and a boost for economies across the industrialized world.

The large increase in American production is, in fact, one reason cited for the drop in prices. The other is a continuing slump in demand in Europe and other developed regions and slower growth in China.

I'm near Modesto, CA and my gas is at $3.15 which is the lowest it's been in YEARS. I was just telling someone last night that if it drops below $3 I might just drop dead from shock.

$2.81 here, the main reason for part of the drop in price is the switch from the summer blend to the winter blend. Happens every year on October first the end of the high emissions season.

Wow that is a good first days results. It's clear that I'm not the only person who notices this trend. And from everybody's posts it seems that we have had an easy $0.25 drop over the last couple of weeks.

Gas prices have normally dropped at the end of summer/beginning of fall even in non-election years. And elections are held when? In Nov, in the fall. Gas prices will then usually go up near the start of summer.

Right now cheapest gas near me is $3.46, unless i go to Costco it's about .10 cents cheaper. This summer it was up over $4.00, mostly around $4.19 - 4.29

Summer, more travel, higher demand. Fall/Winter, less travel, lower demand.

Gas prices have normally dropped at the end of summer/beginning of fall even in non-election years. And elections are held when? In Nov, in the fall. Gas prices will then usually go up near the start of summer.

Right now cheapest gas near me is $3.46, unless i go to Costco it's about .10 cents cheaper. This summer it was up over $4.00, mostly around $4.19 - 4.29

Summer, more travel, higher demand. Fall/Winter, less travel, lower demand.