Gas prices drop 75 cents a gallon the day before the election

Someone make me understand how gas can drop to $3.18 a gallon when it has been pushing $4 a gallon for the last 3 years?

Normally when there is a disaster in the US gas prices increase. Hurricane last week...now prices drop to the lowest I have seen them in a Long time.

I do not understand. I really want to.

Anyone want to tackle this and 'splain it to me?

Happened last election too. Go back to sleep.

reply to post by k21968


Rather strange isn't it?

I noticed an eight cent drop in less than a week.

It just goes to show that supply and demand are not what is driving the price of gasoline.

I have no answer to your question though. It is a riddle.

Why are we still on gas?

If you find the explanation for my question you'll solve your question.

Need a hint? Control.

Fill up while the prices are cheap, because after the election, gas will shoot back up. Rest assured, the media will be complicit and there will be some B.S. excuse as to why they have to suddenly raise the prices so high.

Right now, gas prices are below where oil companies can make their typical profit. I suspect they were told that, if they would keep the prices down until after the election, they could really gouge the public after everybody's voted tomorrow.

Watch and see. It's all smoke and mirrors, and total nonsense. It is done to give us the feeling that the economy is "back on track", and everything is hunky-dory.

My husband day-trades commodities, and his family has been in oil since 1947. We watch the price of crude on a daily basis, and this bargain price for gasoline is just to lull y'all into a sense of security. We cannot have the voters pissed off about the price at the pump, now can we? After the votes are cast, we can be ripped off to high heaven, and people may complain, but there is nothing that can be done except pay the cost.

reply to post by k21968


A whole bunch of factors contribute to this.
Declining oil demand is one of them.
Increase in US production of oil.

We aren't in the summer anymore. Usually that's the time when gas prices are high.

investorplace.com...

We are almost as close to producing as much oil as saudi arabia per day.

autos.aol.com...

1. Saudi Arabia 11.6 million barrels per day
2. United States 10.9 million barrels per day
3. Russia 10.3 million
4. Iran 4.2 million (estimated)
5. China 4 million

What about free gas before the election? You didn't hear they were giving away free gas over here in New York City. No big deal.

Why would gas prices in Canada fall as they have? We have nothing to do with your coin flip!

reply to post by minkmouse


www.abovetopsecret.com...
read my response.

Gas prices fluctuate all of the time at any point in a given year, but during the past 12 years they've risen drastically. see chart
They actually surpassed 4 dollars(as a national average, for a particular day) at one point under Bush. It's a manipulated statistic to say prices were only 2 dollars under Bush. They were only that low for a very short time because there was an economic crash in progress.

In fact, the average for 2011 was only a few cents above the peak average under Bush.


Plus your statistic is wrong...gas prices didn't drop "75 cents a gallon the day before the election"
They've been dropping steadily over the past few weeks, and they haven't dropped 75 cents.
You keep saying things as if the price of gas was 4 dollars a gallon. It was not that high. It was only like 3.75 at a max, at least in my area. It's still a significant drop, but it happens and it has always happened with gas prices...just look at the chart and see how often the price changes.

reply to post by Ghost375


I live in rural KY, and I guarentee you they dropped from $3.939 to $3.199 a gallon from Sunday to Monday morning. So I am wrong it was 74 cents..lol

I watch the gas prices closely because I drive 100 miles round trip a day for my job. I am very choosey about where I purchase gasoline. Every cent off helps.

reply to post by k21968


Not surprised, here in france the price of diesel (most popular fuel for vehicles) went down just after the last election to lull everyone into a false sense of appreciation.

Don't worry, it goes back up real quick and then some.

reply to post by grey580


I did...I'm just saying that elections in the US have nothing to do with the price of gas.

reply to post by minkmouse


You cannot be serious! I believe it has everything to do with the election. Any other time there is a natural catostrophe in the US our gas prices go up. This time...they went down....if it is not the election then please tell me what it is.

reply to post by k21968


But I'm not in the US and prices are on the decline

Aw c'mon guys we all know how the tail wags the dog-of-a world-economy we now have. Speculators and derivatives dealers push the markets completely, supply and demand has little to do with it anymore, it's a mere side-effect of the big money moving things. And most of those guys are heavily invested in government & politics - it's there way of influencing things, next week it'll increase 10-20% and stay there or travel upwards until the next call on pertroleum option contracts, probably December or January - inauguration is Jan 20 I think, so look for those futures prices to depend on who gets elected and how the big money guys react to that. Good luck predicting that one.

ganjoa