Gas Prices Are Plummeting—but Republicans Haven’t Noticed

Gas Prices Are Plummeting—but Republicans Haven’t Noticed
Oil prices are crashing, thanks to a number of different factors.
By Molly Taft
Thursday 4:45PM

It’s suddenly a lot less painful for Americans to pay for gas—but don’t tell that to the House’s new GOP leadership, who are determined to keep falsely blaming climate action for high energy prices.

According to the American Automotive Association, the national average for a gallon of gas on Thursday stood at just $3.47—a sharp drop from the highs this summer, when the price for a gallon reached over $5 in June. And average prices have gone down particularly rapidly this week, dropping 19 cents since before Thanksgiving and 7 cents in the past two days alone. Prices are only going to continue to dip lower: GasBuddy, a website that keeps track of gas prices, predicted Monday that prices could fall below $3 a gallon by Christmas.

This is, to say the least, pretty hardcore whiplash from the first half of this year, where already-high oil prices collided with the conflict in Ukraine to create jaw-dropping figures at the pump. But buying a tank of gas now is, price-wise, comparable to buying one at the beginning of the year.

... https://gizmodo.com/gas-prices-are-plummeting-eu-republicans-russia-1849842822​

Thanks, Joe!

Anyone still imagine that Democratic policies were somehow to blame for higher prices earlier in the year? Anyone imagine that (R)adicals in Congress are magically influencing gas prices at present?

 

All the RW ever notices are Inflation, Layoffs, and anything that they can blame on Biden...
That is why they go out of their way to spam the forum 10 times a week with "Lookie Here, Inflation!", "Lookie Here, Layoffs!", " Lookie Here, Biden Bad!" Threads...
Obviously, The RW/GOP/MAGA Crowd won't notice "Good Economic News"...

 

Yawn.

Get back to Americans when they fall under $2/gal like they were under Trump. Oh yea and when Inflation and the cost of living was equal to when Trump was in office.

Amazing what the far left thinks is a "victory".

 

Paid $3.05 on Saturday, although that was with some Fuel Points... Saw $3.29 on the station closest to my house today.

Bottom line, Biden didn't cause the price to go up and really didn't cause the price to go down. But I admired his patience and attempts to do something by releasing some reserves (which was obviously mostly symbolic). I shudder to think how a former POTUS would have handled this minor crisis.... probably would have turned it into a major crisis somehow...

 

The buck stops with our overlords in the central bank. Biden's problem is that he wants to blow another $8 trillion on a boondoggle bill and stick us with the inevitable inflation. The spiral has begun. Neither party has the political will to reverse it and all of their followers would be screaming like stuck pigs when they learn they can't pass all debt on to their grandchildren anymore.

 

Lol… still $2.00 higher than when Trump was in office.

Plummeting, we rate this as fake news.

 

Would you like another pandemic to get us under $2 a gallon?

 

What a bunch of fake news. Of course Biden caused it just like his policies caused inflation. Under Trump, gas would still be a lot lower so there would be no "minor crisis".

Democrats own this mess and their weak kneed foreign policy allowed Putin to once again go after Ukraine. Maybe someone should have sent articles of impeachment or invoked the 25th on demetia Joe when he crapped in his pants and had to cut short his meeting with the Pope and was shaking hands with people who weren't even on stage with him. He isn't fit for office, unlike the last President we had who actually knew 1) How to run an economy and 2) what planet he was currently on. lol

The fake news around this President and the lies people tell is just pure comedy!

"Oh Look", Far leftsists scream, "Inflation is crashing, it's down to 7.75%, already"... lol

 

So if Biden caused gas prices to go up he also caused them to go down then, correct?

Under your logic of course.

And when inflation goes back to 2% that will also be because of Biden, yes?


It’s fascinating to read the posts of trump supporters.

 

Thanks Joe? The left just spent 2 years saying Biden doesn't control gas prices, the free market does. On top of that, how did Biden get Putin to end his tax on gas?

 

Lol... It was already $2 and change before the plandemic.

 

The left should thank Putin. Biden blamed Putin for high gas prices and said he has no control over gas prices. Let's be fair and give credit where it's due. Putin deserves credit.

 

Fake news.

 

Something that Democrats won't talk about and don't want to touch with a 10 foot poll or even put two brain cells together to figure out why it matters -- When is the Biden Administration going to start refilling those strategic oil reserves that they previously emptied to add more oil to the market to help keep prices down?

Democrats at the time were telling us that, rather than it just being a cheap dirty political trick selling out America's future security for short term political gain, that, no, Biden was an economic genius because he was only going to sell when the prices were high and then immediately rebuy after the prices went back down.
Okay, so when is he going to rebuy and return the levels in the strategic reserve back to normal??

Because everyone knows, just like emptying some of those strategic reserves helped keep prices down, trying to fill back those reserves is going to have the opposite effect and increase prices.

Of course lots of Leftists just want to smash the piggy bank and don't see any point to saving if those savings are not spent. That's just their mentality.
No surprise they would treat the strategic reserve the same way they do as the government budget.

 

This is through the end of November. I'm not seeing any plumeting.
https://www.eia.gov/dnav/pet/pet_pri_gnd_dcus_nus_m.htm

 

I have no doubt.

Executive Order on Tackling the Climate Crisis at Home and Abroad | The White House

 

That article cites "lots of factors at play", such as...

"countries including the U.S. releasing oil from their national reserves in recent months"

Not a good thing for the oil reserves and temporary, at best.

"looming global recession" “We’re heading into [a] serious recession in Europe and further economic slowdown in the U.S. as people struggle with high-interest rates and worry about their personal wealth and savings,” “Add it all up and it creates a bleak picture for oil demand."

In other words, the western governments cause the price of oil to go up through anti-fossil energy policies which tanks their economies which causes skyrocketing inflation which causes less demand which causes prices to fall. In the meantime, their citizens are struggling to pay for shelter, put food on the table, buy medicines, etc. (by the way, these consequences are not unintended)

And they consider this a good thing?

Of course, they do. After all, gas is only a dollar and a quarter ABOVE what it was when they started their war on the fossil fuel industry two years ago.

 

I was actually just talking to someone about this. I noticed regular had gone down but holy cow desiel is high. Shipping is up but travel down. Hope the desiel prices don't make food too much more.

 

Production plummeted during T**** and is nearly back but still a ways to go because many of the smaller producers bailed during T****'s final year. The only reason the price got that low was because there were far fewer consumers and at one point it was considered to give away fuel to keep some production going. Consumption is back, production follows.

 

Exactly. It's disingenuous to say gas was $2 under Trump when conveniently ignoring this was the result of a global lockdown.

 

As far as "victory"?
THIS Suited Me Just Fine:

As to the OP: Hopefully, The Price of Gas continues to plummet...
That Said, a few extra bucks at the Pump is a Small Price to Pay to have gotten rid of that Treasonous Orange (Trump) Stain on America...

 

Demand for gas is plummeting because folks are losing their jobs.....Thanks Joe indeed!

 

Rightists logic. Gas is expensive. Damn you Joe! Gas prices drop. Joe didn't do ****!

LOL, I swear we all heard these same arguments during Obamas two terms too.

Two terms, something their beloved Trump couldn't even achieve. LOL

 

Looks like Trump took the amazingly low gas prices that Obama handed him and pushed them up to over 2$ per gallon.

 

Dude, these very people wish that the entire country suffers under any governance but so called Republican "governance". That's as ****ed up as it gets. They cannot be trusted anymore as currently constituted.