Will the price of gas in the US ever go back down to January 2020 levels?

[Ms.Minnie]

Gas here in Western MD is 'down' to 4.79 a gallon as of this morning..it was up to $4.99 a couple of weeks ago. Sounds ridiculous that we get excited when it comes down just a little~

Just back from gassing up. Paid $5.79 a gallon, the lowest it was been in 2 months. Feel like I won the lottery.

LOL that's what I said when we paid $4.89 per gallon the other day, now I see at the local Wawa it's $4.77 per gallon. Not sure why the price is down but I'm going to fill up and be happy! I agree, it really strikes me as funny to get excited about these prices when not too long ago the price was just of $2 per gallon.

 

[DCLMP]

One thing people forget to mention is that crude oil is a globally priced commodity. That fact seems to be lost in this discussion.

 

[DCLMP]

Good question. There should be a "pause" button on reading this thread...

OK, I'm ready.

For those who are saying it's because of US leadership, then why are gas prices going up around the world?

Just look at what we’ve done in Ukraine you’ll find your answer.

 

[DCLMP]

No, the price of gas will never go down to those levels again. Why? Probably money, probably some part conspiracy, probably the same reason that every economist knew the Fed printing money without end and then covering their eyes and ears the past year would lead us to a recession, yet they continued full steam ahead and here we are. Short answer- they want it this way. Here's a better question- what has any government in any part of the world done in the past two years that can be looked at objectively and determined to be sane and rational and in the best interest of the people?

The fed issues debt through one door and buys it back through the other… just to keep things chugging along. Over the last several decades our government is to blame for deficit spending. You can’t it put all on central banks…although some will say central banks run the world…
If and when they run out of magic tricks and the debt bubble implodes it’s going to be very bad for all of us. The rapid spike in the ten year followed by the sell off last week….and the “emergency measures” by the ECB were concerning, but things seem to have stabilized for the time being.

 

[goofyernmost]

You're just spouting the main street media's narrative and then telling us not to read the internet.

I have lived though many price increases. When I first started driving gas was 29 cents per gal. So take your opinions elsewhere. There are two things on the internet and they are the truth or a conspiracy theory. I lean toward the truth and have experienced a whole lot of it first hand. So stick with your conspiracies and I will stick with truth.

 

[goofyernmost]

Just look at what we’ve done in Ukraine you’ll find your answer.

Had very little to do with it. Some yes, but not the degree you are thinking. Nice aluminum foil hat you have there though.

 

[goofyernmost]

8-10% profit margin. That is what these companies make.
What do you think is a "fair" profit margin, should it be much lower than that? Do you think all industries should be the same? If so maybe you should look into what industries make the most- it isn't oil companies.

Rising gas prices are not just tied to one thing and if you think they aren't political then you have your head in the sand.

10% gross or net profit?

 

[starry_solo]

OK, I need to go look for my record books for gas in CA (Southern CA) for early 2020, but late 2020 (November), we were paying $2.819/gallon.
By March 2021, we were paying $3.619/gallon
June 2021, we were paying $4.019/gallon
December 2021, we were paying $4.369/gallon

 

[sam_gordon]

OK, I need to go look for my record books for gas in CA (Southern CA) for early 2020, but late 2020 (November), we were paying $2.819/gallon.
By March 2021, we were paying $3.619/gallon
June 2021, we were paying $4.019/gallon
December 2021, we were paying $4.369/gallon

Personally, I don't think 2020 can be used as a comparison tool for almost any commodity. It was so out of the range of "normal", it should be thrown out of the history books.

 

[Southernmiss]

Personally, I don't think 2020 can be used as a comparison tool for almost any commodity. It was so out of the range of "normal", it should be thrown out of the history books.

Exactly.

The world shut down. No one knew how to handle the pandemic then.

It's so frustrating to see people pine for gas prices of 2020.

No one was going anywhere.

I don't want to go back to lockdown so we can have low gas prices.

And from the looks of everything- highways, airport's, businesses, tourist places- no one else does either.

Demand is up. Prices are up.

 

[kymom99]

Exactly.

The world shut down. No one knew how to handle the pandemic then.

It's so frustrating to see people pine for gas prices of 2020.

No one was going anywhere.

I don't want to go back to lockdown so we can have low gas prices.

And from the looks of everything- highways, airport's, businesses, tourist places- no one else does either.

Demand is up. Prices are up.

I’m no finance expert, but this is my way of looking at the EV thing. No one is forcing anyone to drive one. They are an option. And if some people decide they fit their lifestyle, then those people don’t need to buy gas. That leads to a decrease in demand, which lowers gas prices. Everybody wins.

 

[kymom99]

Good question. There should be a "pause" button on reading this thread...

OK, I'm ready.

For those who are saying it's because of US leadership, then why are gas prices going up around the world?

I’m thinking the mods are on vacation.

 

[DCLMP]

I have lived though many price increases. When I first started driving gas was 29 cents per gal. So take your opinions elsewhere. There are two things on the internet and they are the truth or a conspiracy theory. I lean toward the truth and have experienced a whole lot of it first hand. So stick with your conspiracies and I will stick with truth.

What's the truth and what's conspiracy? Are you saying the MSM is truth and the internet is false? I seem to have ruffled your feathers for some reason. There's no reason to be rude.

 

[lowlight]

I’m thinking the mods are on vacation.

It looks like everyone in this thread is being pretty civil, what do you need a mod for?

 

[DCLMP]

I’m thinking the mods are on vacation.

Is discussing the economy not allowed. It seems like it's been a pretty civil discussion.

 

[DCLMP]

I’m no finance expert, but this is my way of looking at the EV thing. No one is forcing anyone to drive one. They are an option. And if some people decide they fit their lifestyle, then those people don’t need to buy gas. That leads to a decrease in demand, which lowers gas prices. Everybody wins.

The price of gas is mostly determined by crude oil prices and is dictated by international supply and demand. It's bought and sold on the global commodities market. The sanctions on Russia put a squeeze on global supply driving up the prices If we go into a recession that may decrease demand. Will it be enough to not need to import oil? I don't know, but I do know the majority of Americans cannot afford electric cars.

 

[kymom99]

Is discussing the economy not allowed. It seems like it's been a pretty civil discussion.

Not supposed to bring politics into it but…..

 

[kymom99]

It looks like everyone in this thread is being pretty civil, what do you need a mod for?

I don’t, I’m just surprised