How high do you think gas prices will go?

[RedAngie]

I thought it was $3.21....

That was for the line where Costco was 23 cents cheaper than its competitors.

But saving $1.04 every other week means 5 extra triple soy lattes at Starbucks every year or almost an extra $30 trip to Chick-Fil-A.

 

[MillauFr]

I actually found some of the votes.

I wonder what the votes would be if you put Musk up against government bureaucrats? I mean like the ones who run around and enforce useless laws like New Jersey ban on self service gas stations or the laws that restrict car manufacturers from selling direct to consumers? No doubt Musk is intolerable at times but I love when he takes on the government bureaucrats. It was awesome when New Mexico regulators said he couldn't open Tesla stores in the state and he said fine, I'll just open one on Tribal Land where state regulators have no jurisdiction. I loved it.

 

[dvcgirl67]

It sounds like you're just less sympathetic to those with big huge SUVs who spend money frivolously (and I understand that) but it doesn't make the discussion about higher gas pricing any less valid because it's not just the people who fit the description you're talking about affected by it and that seems rather obvious (respectfully speaking). Loudest voices and all I get it but still. Perhaps the ones who are most financially impacted by it are too busy working to try to get that gas money to get to work to complain about it on social media who knows.

I think this NYT headline and article kind of captures what is happening....and what poster Brett Wyman is picking up on. One study cited, from the 90s, is that "inflation, even at moderate levels, frustrated ordinary citizens so much more than economic theory implied it should". There's real pain for sure, especially, as you're implying for consumers who are more challenged economically. However there's a generalized outsized grumbling throughout the population, even in the higher tiers....where's there's a lot more slack...or give in their household budgets. And I think gas prices are where we see this grumbling more than anywhere in the economy. It's the price that pretty much everyone knows off the top of their heads.


https://www.nytimes.com/2021/11/06/upshot/inflation-psychology-economy.html

 

[Mackenzie Click-Mickelson]

I think this NYT headline and article kind of captures what is happening....and what poster Brett Wyman is picking up on. One study cited, from the 90s, is that "inflation, even at moderate levels, frustrated ordinary citizens so much more than economic theory implied it should". There's real pain for sure, especially, as you're implying for consumers who are more challenged economically. However there's a generalized outsized grumbling throughout the population, even in the higher tiers....where's there's a lot more slack...or give in their household budgets. And I think gas prices are where we see this grumbling more than anywhere in the economy. It's the price that pretty much everyone knows off the top of their heads.


https://www.nytimes.com/2021/11/06/upshot/inflation-psychology-economy.html

Honestly wasn't really going deep on the topic in regards to the PP. Was really just talking about the comment of saying it's only $20 more per tank if at a dollar more (the PP's example). That really adds up for people. That isn't related to this pandemic. And with the PP they were relating it to complaining about the extra money spent whilst going off and spending money elsewhere. It's a common discussion people have so not unheard of to saying "you're complaining but throwing money at..."

I know you've talked a lot about inflation with other posters but my comment was rather simple in the discussion .

 

[mrodgers]

The amount it adds up to just seems disproportional to all the noise that always occurs IMO.

Really? Just a measly $20? $20 per fill. 2 people of the household filling cars. Tank of gas per week you're looking at $160ish a month. Sure that probably isn't significant to the typical demographic here, but it certainly would be significant to most normal income people. That's around 15% extra coming out of the take home pay of an average wage. I consider a 15% increase in costs very significant. Add in kid going to community college every day and it's more.

 

[kdonnel]

(Washington's also been floating a "tax-per-mile-driven" idea.)

As a replacement for the current gas tax system.

Something has to change as more and more cars go electric and don't pay a road use tax like ICE drivers do through gas taxes.

 

[dvcgirl67]

As a replacement for the current gas tax system.

Something has to change as more and more cars go electric and don't pay a road use tax like ICE drivers do through gas taxes.

We’ll need to find jobs for some auto mechanics while we’re at it. EVs need nowhere near the level of maintenance as ICE cars. We have a family member who is a mechanic….will literally talk my husband’s ear off about cars…and my husband isn’t a car guy. We got the Tesla Y….and he literally didn’t say a word to him. It’s like he was offended by it And it’s not the price….DH previously had a macan and the family member wouldn’t stop talking about it.

 

[Kennywood]

Just wait until the batteries need to be replaced in all of these electric cars. People are going to be very surprised by the pricing and availability of replacement batteries.

 

[adkkev]

Well, if Biden gets his way in shutting down Michigan's Line 5 Pipeline (in addition to shutting down the Keystone Pipeline), we haven't begun to see how high gas prices will go. (Washington's also been floating a "tax-per-mile-driven" idea.)

How did we go from a world leading oil producer and exporter, to where we are today?

The United States remains a net exporter of petroleum products and crude oil so far in 2021.
The current Keystone pipeline transports Canadian crude to refineries in the United States. The Keystone XL pipeline is the one that was stopped by the current president.

Oil prices are set by the global market and currently demand outstrips supply. When oil prices dropped dramatically in 2020 many companies stopped production of crude because they were losing $$ on each barrel. It’s going to take a bit of time for things to catch up and balance out.

 

[dvcgirl67]

Just wait until the batteries need to be replaced in all of these electric cars. People are going to be very surprised by the pricing and availability of replacement batteries.

Battery technology is improving rapidly....regarding longevity, range and price. My first EV is a lease, so I'll only have this one for another year, but I am pretty sure we'd be covered up to 100K on the battery if we didn't have a lease. We also got $5,000 from our state.....for a *lease*....the incentives are pretty sweet in a lot of states.

 

[kdonnel]

Just wait until the batteries need to be replaced in all of these electric cars. People are going to be very surprised by the pricing and availability of replacement batteries.

Battery degradation in a properly cooled battery pack is not bad.

Tesla's have been out for long enough that statistical analysis shows a less than 10% degradation after 160,000 miles.

The Chevy bolt shows a similar level of degradation of less than 10% after 150,000 miles.

The majority of the degradation occurs early in the pack life and then slows dramatically.

Compare that to a NIssan Leaf which does not use active cooling. The Nissan Leaf has been shown to lose as much as 50% of battery capacity within 50,000 miles in warm states such as Arizona and Southern California.

As long as you buy an EV with active battery pack temperature management(virtually anything but a Nissan Leaf), you shouldn't see enough degradation to merit a battery pack replacement in the life time of the rest of the components of the car.

 

[dvcgirl67]

Battery degradation in a properly cooled battery pack is not bad.

Tesla's have been out for long enough that statistically analysis shows a less than 10% degradation after 160,000 miles.

The Chevy bolt shows a similar level of degradation of less than 10% after 150,000 miles.

The majority of the degradation occurs early in the pack life and then slows dramatically.

Compare that to a NIssan Leaf which does not use active cooling. The Nissan Leaf has been shown to lose as much as 50% of battery capacity within 50,000 miles in warm states such as Arizona and Southern California.

As long as you buy an EV with active battery pack temperature management(virtually anything but a Nissan Leaf), you shouldn't see enough degradation to merit a battery pack replacement in the life time of the rest of the components of the car.

I was going to say all of that....but didn't know it until I just read what you just wrote .