Gas Prices

[podex101]

Because I am not understanding the following.....

Why are gas prices going down a day before Thanksgiving?

My MBA is NOT enough to understand WTF is happening to the oil market.

Gratias Tibi Ago.......

[Meadowoak]

1. The midterms are over.

[niyad]

2. Gas prices going down here since Halloween.

[MichMan]

3. Global economic slowdown

[Better Days Ahoy]

4. Yeah, I have an MBA, too. The degree means little unless

You apply it and continue to learn.
We didn't learn much about global economic anomalies and the impacts of war and thinly veiled corporate intentions on the supply chain.
This economy is unlike any other.
Studies and books are being written as we speak to try to understand it.

[Alexander Of Assyria]

5. I propose a 20% federal tax on all campaign media spending, dedicated to election admin.,

including paying election staff double.

[getagrip_already]

6. there is no sanity to even local pricing...

In my area, prices at the pump vary by as much as $0.50/gallon for regular unleaded.

Really, there is no market explanation for this. These are stations within a short drive of each other, though each has it's own "location" advantage.

But there is no way two stations, with the same tax burden, regulatory requirements, and distance to distribution hubs, should be that far apart.

The only explanation is greed.

The same goes for national pricing. The refiners own the supply from well-head to delivery truck to the pump. Their costs don't vary wildly with market pricing because they don't pay spot prices. They merely use spot prices as a rough guide to set their pump prices.

[MichMan]

8. Why would anyone pay 50 cents more a gallon than a nearby station?

Retail gas stations are very seldom owned by oil refiners.

[getagrip_already]

9. tell that to mobil, exxxon, or any of the other chain stations out there.....

Why would someone pay more? Convenience for one. If it is on your way to/from work and you don't have to swing far out of your way, you may opt for the more expensive stations. Or maybe it's in an easy on/off location for the highway.

For me, where I work prices are all over $4/gallon. every station in a highly built up area with a lot of shopping. Where I live, it's cheaper, and the cheapest is club warehouse outlet ($3.53 yesterday). there is a station close to it which is a few cents more, and another that is 40 cents more.

They are all selling gas.

It makes no sense.

[DetroitLegalBeagle]

13. There prices will depend on how much they paid for the gas they currently have in the ground

For gas stations, the profit margins on gas is only a few cents per gallon. If their most recent supply was priced high, then they are stuck selling it higher until its gone and they get their next lower priced one. Or, they sell the remaining at a loss and hope they can make it up with instore sales or by charging a few cents more then usual on their next supply.

[SalamanderSleeps]

7. Corporations hide bad behavior in election seasons.

Our now, never ending, election seasons allow corporations to do bad behavior, especially price gouging.

Neither a challenger or an incumbent want to anger corporate interests, lest those corporate interests decide not to contribute to them, or worse contribute to their competitor.

Corporations are free to do as they like as long as politicians are dependent on them.


Thank you Citizens United.

Thank you "Roberts" Supreme Court.


Only in the United States are corporations considered to be people. Mitt Said so.

These corporate super-citizens, and the folks that run them, are laughing their asses off.


It's time to correct Mitch McConnell's manipulations and blunt the effects of the Federalist Society mafia by expanding the Supreme Court.


Fair should be fair. We've had 9 justices since 1869 when our population was just under 39 million. In 2022 we have about 333 million people.

Maybe, the Supreme Court is merely overworked and not hopelessly corrupt? Maybe they just need some more honest help?


Regardless, 13 justices would be a good place to start reforms.

[louis-t]

10. I still think the oil companies did it to screw Dems before election.

They were not happy that Dems wanted to tax their massive windfall profits. And they are not happy with competition from alternative fuels which Dems promote. That being said, up to 70% of the price of a barrel of oil is controlled by speculators in the commodities market.

[Warpy]

11. The oil market is nuts, we'd worry about you if you understood it

I'm making my money that way (yeah, I know) and I barely understand what's going on.

Mostly, it's a function of Biden releasing millions of gallons of the stuff onto the world market from the Strategic Reserve, which is exactly how and why Jimmy Carter set that up for us. That is causing prices to fall even after OPEC decided they liked the high prices and cut production. Joke's on you bastards, ha ha ha.

Gas prices have been coming down for a long time, and the signs usually get changed on Wednesday, although if it's really volatile, they can get changed on other days, as well.

Count your blessings, the prices usually get jacked up on big travel holidays.

[bucolic_frolic]

12. Oil companies lowered prices for the holiday so people don't curse them all weekend

It would be bad for business.