U.S. Gas Prices Nearing $5 per Gallon Avg.

[Webster]

(The Guardian) US average gas price nearing $5 a gallon
In a sign of the ongoing inflation threat, the average price of a gallon of gasoline is closing to surpassing $5 a gallon in the United States, an all-time high that poses implications for the wider economy and may worsen Biden’s low approval.

According to the American Automobile Association (AAA), the average price of a gallon of regular gas is today at $4.97, though GasBuddy’s Patrick De Haan say it has already passed the symbolic threshold. “People are still fueling up, despite these high prices,” AAA spokesman Andrew Gross said earlier this week. “At some point, drivers may change their daily driving habits or lifestyle due to these high prices, but we are not there yet.”

The gas price spike is attributable to the US economy’s overall recovery from the pandemic downturn in 2020 as people returned to driving and traveling nationwide, but it grew markedly worse earlier this year when Russia invaded Ukraine and western nations imposed sanctions that roiled global oil markets.

Rightly or wrongly, many Americans see gas prices as a proxy for the wider economy’s health, and as they hit new heights, Biden is increasingly being blamed for the spike.

 

[MrDawn]

It's getting ridiculous. It's almost 5 dollars here where I live. I told my girlfriend that if it gets as high as 10 dollars. I'm probably just gonna start walking to work lol.

 

[steel bat]

Our fuel in the UK is getting pretty pricey too. Larger cars are costing near £100 to fill up.
Diesel is expensive too - pushes the costs of deliveries up which pushes the prices in shops up.

 

[Moonface]

Last I checked by my house it was sitting at $4.79, but I know near my work it has already passed the $5 mark. For me, $5 a gallon is 1/3 of my hourly wages, which is already rather rough but even worse since my job has drastically cut hours for the summer due to slow business, so I'm down to only 15 hours a week and if next week isn't an error I've only got 10 hours for that. I have a 15 mile drive to work, so roughly 30-35 miles of usage per shift, of which I have three a week so every week just for work I use roughly 100 miles, with is 1/3 of my tank capacity. Fortunately that means only $50 is going into my tank every three weeks, but with the cost of everything else also going up and my wages going down it doesn't leave me much room for any savings.

 

[Nebulous]

$6.50 a gallon over here in California.

 

[WHO IS SERAFIN]

The worldwide leftists wanted the stupid idea of shutting down a global economy backed by hating our energy that comes from the ground and here we are! This is no surprise we are being led by weak men and women which equals suffering.

 

[Nebulous]

I wonder how much higher its going to go!

 

[WHO IS SERAFIN]

I wonder how much higher its going to go!

I think we will see 10 dollars a gallon and the world is going to go into a depression. Fake genders and grooming children in our schools is going to be the least of American problems. Those mean tweets are looking like sweet poems with all this suffering.

 

[Webster]

The worldwide leftists wanted the stupid idea of shutting down a global economy backed by hating our energy that comes from the ground and here we are! This is no surprise we are being led by weak men and women which equals suffering.

I think we will see 10 dollars a gallon and the world is going to go into a depression. Fake genders and grooming children in our schools is going to be the least of American problems. Those mean tweets are looking like sweet poems with all this suffering.

 

[Nebulous]

I think we will see 10 dollars a gallon and the world is going to go into a depression.

One of my co workers said the exact same thing today.

 

[Sariki]

I think we will see 10 dollars a gallon and the world is going to go into a depression. Fake genders and grooming children in our schools is going to be the least of American problems. Those mean tweets are looking like sweet poems with all this suffering.

Wait where is the relevance here? How does grooming children affect the gas price in the world? How does any of what you said contribute to this conversation effectively?

Also just so we are clear the US president doesn't set gas prices in America or the world for that matter..

https://www.newsweek.com/who-controls-oil-gas-prices-united-states-1710982


For a little clarification for ya in case, you wanted to learn how Gas and Oil pricing works

 

[WHO IS SERAFIN]

Wait where is the relevance here? How does grooming children affect the gas price in the world? How does any of what you said contribute to this conversation effectively?

Also just so we are clear the US president doesn't set gas prices in America or the world for that matter..

https://www.newsweek.com/who-controls-oil-gas-prices-united-states-1710982


For a little clarification for ya in case, you wanted to learn how Gas and Oil pricing works and not just what Fox News told ya.

Seems I touched a nerve and it matters to me and that is really all that counts.

I don’t watch Fox News, so assumption wrong.

When you shut down pipelines it raises prices.

When you shutdown the means for exploration it raises prices.

When you make the permits out of this world expensive it raises prices.

When you OPENLY say how much you hate the energy that comes from the ground it makes energy producers and the global market for energy raise prices.

When you try and regulate the shit out of energy producers it raises the prices.

So to be clear President’s very much affect energy costs.

 

[Sariki]

Seems I touched a nerve and it matters to me and that is really all that counts.

I don’t watch Fox News, so assumption wrong.

When you shut down pipelines it raises prices.

When you shutdown the means for exploration it raises prices.

When you make the permits out of this world expensive it raises prices.

When you OPENLY say how much you hate the energy that comes from the ground it makes energy producers and the global market for energy raise prices.

When you try and regulate the shit out of energy producers it raises the prices.

So to be clear President’s very much affect energy costs.

I reckon that is only about half true.
Yes in America Directly the president's anti-oil rhetoric plays a small part in gas prices.

However, That also being said the pandemic screwed smaller oil producers and they went out of business. Bigger companies also stockpiled drilling permits ahead of Biden's inauguration in fear he would ban oil altogether. Which he would never do.

The following quote is from an article I am providing the link to at the end of this :

Since then, demand has recovered to pre-pandemic levels. Oil production, however, has only partially recovered. The most recent data available from the Energy Information Administration (EIA) shows current U.S. oil production at ~11.6 million BPD — still 1.4 million BPD short of pre-pandemic production. This shortfall is a major factor that led to the run-up of oil and gasoline prices over the past year.


When the pandemic crushed oil demand in 2020, some oil companies went out of business. Some small stripper wells — which accounts for a respectable amount of U.S. oil production — were permanently capped given the bleak outlook. Some workers left the oil industry.

Also this:

Thus, we have oil production that can’t bounce back quickly because some has been shut in, and new production that can’t proceed as quickly due to manpower and material shortages (e.g., fracking sand). It’s not simply that oil companies are sitting on permits. They are working through them. The number of rigs drilling for oil and gas has risen by 60% over the past year. But it can take years for a permit to translate into oil production (if the location even yields oil).

I left the oilfield because of the downturn btw. I used to be a frack hand but we started shutting down during the pandemic due to low demand.

Article I was speaking about:

https://www.forbes.com/sites/rrapie...lding-back-us-oil-production/?sh=5afdcbee6b6f

EIA website on OIL production in the US is a good resource for a short-term look at Energy production:

Short-Term Energy Outlook - U.S. Energy Information Administration (EIA)

www.eia.gov

 

[WHO IS SERAFIN]

I reckon that is only about half true.
Yes in America Directly the president's anti-oil rhetoric plays a small part in gas prices.

However, That also being said the pandemic screwed smaller oil producers and they went out of business. Bigger companies also stockpiled drilling permits ahead of Biden's inauguration in fear he would ban oil altogether. Which he would never do.

The following quote is from an article I am providing the link to at the end of this :


Also this:


I left the oilfield because of the downturn btw. I used to be a frack hand but we started shutting down during the pandemic due to low demand.

Article I was speaking about:

https://www.forbes.com/sites/rrapie...lding-back-us-oil-production/?sh=5afdcbee6b6f

EIA website on OIL production in the US is a good resource for a short-term look at Energy production:

Short-Term Energy Outlook - U.S. Energy Information Administration (EIA)

www.eia.gov

Actually it’s completely true, they make or break what our gas prices are going to be. If our government left the energy industry alone to do what they need to do we would have 1.50 gas right now. Hell we haven’t even built a refinery in the states in 40 years because of regulations making it nearly impossible. Government and only government is causing our current issues.

 

[Sariki]

I think we should agree to disagree good sir. Great talking to you.

 

[WHO IS SERAFIN]

 

[WHO IS SERAFIN]

 

[MrDawn]

$6.50 a gallon over here in California.

4.55 at some gas stations and 4.89 at others where I live. It's almost 5 bucks a gallon.

 

[steel bat]

In our part of the UK it's not quite £2.00 a litre wich works out at roughly $9.00 per (US) Gallon


but then fuel always has been a higher price in Britain, the bifggest part of which of which is tax

 

[Nebulous]

4.55 at some gas stations and 4.89 at others where I live. It's almost 5 bucks a gallon.

I would love to see those prices again! count yourself lucky.

In our part of the UK it's not quite £2.00 a litre wich works out at roughly $9.00 per (US) Gallon


but then fuel always has been a higher price in Britain, the bifggest part of which of which is tax

Yikes!!!!