Gas prices dropping soon?

[Joe B.]

$4.85 for reg in western Chicago 'burbs. How can it be $3.50 in Myrtle? We have a state tax moratorium, so it can't be that. Also plenty of refining capacity AFAIK. Must be another factor. What is the price at top tier name brand?

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[K4fxd]

$4.85 for reg in western Chicago 'burbs. How can it be $3.50 in Myrtle?

The EPA mandates different blends for different places. If I remember correctly St.Louis has 6 different blends for the city. The area you are in might have one of the expensive blends or the refiner is low on that particular blend.

Not to get into politics but complain about the EPA to your congress critter.

 

[sk47]

Not sure why we keep beating the whole EV thing to death in a gas price thread so…….

Finally back under $4.00

Hello; Let me try again, but you will not like that the term "policy" shows up. There is a major fear among true believers in human caused global warming. Rational or not rational the fear itself is for sure real.
Some things have become labeled/cubby holed as bad guys. other things have become labeled/cubby holed as good guys in terms of global warming. A partial problem is some of the labels do not fit based on facts.

Example cows are bad because of the methane gas they produce. At the same time the wild type grass eaters who also produce such gasses are considered part of the natural world and their methane emissions somehow do not count. I recently saw a wildlife documentary about a push to build up the population of such wild grazers, calling it a "good" thing for the environment.

So, some true believers have decided gas/diesel are pretty much all bad while EV batteries are all good. The crux of the dilemma currently is over time some powerful alphabet agencies have been creating policies putting their whole weight on the scales. On top of that a current crop of leaders in positions of power have gotten on board. So, policies are in place currently which promote EV's while damaging oil fuels.

I have linked the Volvo study before and will refer to it again in a slightly different way. Volvo as a company has decided to move away from gas/diesel fuels entirely in a few years. They have spun off their ICE engine manufacture to a separate company and will not be making ICE as Volvo. They are going all electric. Maybe they have read the tea leaves, and this will be a smart move. At least they did a study and know the EV is not all green as per the study.

Back to the point. Gas/diesel prices are not high simply because of organic market place actions such as supply and demand. The spending policies which create inflation play a part. The anti fossil fuels policies play a part. A segment of the population, both in or out of power, want gasoline to cost much more. The idea is if the prices are driven up we will have little choice but to go EV. EV's are players in the scheme.

 

[Bikeman315]

Hello; Let me try again, but you will not like that the term "policy" shows up. There is a major fear among true believers in human caused global warming. Rational or not rational the fear itself is for sure real.
Some things have become labeled/cubby holed as bad guys. other things have become labeled/cubby holed as good guys in terms of global warming. A partial problem is some of the labels do not fit based on facts.

Example cows are bad because of the methane gas they produce. At the same time the wild type grass eaters who also produce such gasses are considered part of the natural world and their methane emissions somehow do not count. I recently saw a wildlife documentary about a push to build up the population of such wild grazers, calling it a "good" thing for the environment.

So, some true believers have decided gas/diesel are pretty much all bad while EV batteries are all good. The crux of the dilemma currently is over time some powerful alphabet agencies have been creating policies putting their whole weight on the scales. On top of that a current crop of leaders in positions of power have gotten on board. So, policies are in place currently which promote EV's while damaging oil fuels.

I have linked the Volvo study before and will refer to it again in a slightly different way. Volvo as a company has decided to move away from gas/diesel fuels entirely in a few years. They have spun off their ICE engine manufacture to a separate company and will not be making ICE as Volvo. They are going all electric. Maybe they have read the tea leaves, and this will be a smart move. At least they did a study and know the EV is not all green as per the study.

Back to the point. Gas/diesel prices are not high simply because of organic market place actions such as supply and demand. The spending policies which create inflation play a part. The anti fossil fuels policies play a part. A segment of the population, both in or out of power, want gasoline to cost much more. The idea is if the prices are driven up we will have little choice but to go EV. EV's are players in the scheme.

Honestly I do not care. I acknowledge what the direction of our current policies are. Like you I've been around for a long time and I know these policies can change like the weather in Florida. Since I have zero ability to change them I really do not want to take the time to overthink them. That said I stand by my opinion that current policy have not had a direct impact on the ramp up of pricing this year. No more so then these same policies are responsible for the recent decrease of these same prices. Now going into the future that's another matter altogether. I guess we will just need to wait and see.

 

[Bikeman315]

$4.85 for reg in western Chicago 'burbs. How can it be $3.50 in Myrtle? We have a state tax moratorium, so it can't be that. Also plenty of refining capacity AFAIK. Must be another factor. What is the price at top tier name brand?

Closest to me....

Shell $4.39
Exxon $4.39
BP $4.42
Mobile $4.39
Sunoco $4.79

Not all Top Their but all the brand names.

The reason for the lower prices? I do not care. Lifes better at the beach!!

 

[sk47]

Honestly I do not care. I acknowledge what the direction of our current policies are. Like you I've been around for a long time and I know these policies can change like the weather in Florida. Since I have zero ability to change them I really do not want to take the time to overthink them. That said I stand by my opinion that current policy have not had a direct impact on the ramp up of pricing this year. No more so then these same policies are responsible for the recent decrease of these same prices. Now going into the future that's another matter altogether. I guess we will just need to wait and see.

Hello; Interesting that you do not care and hold onto the opinion policies do not matter. However your posts become a good foil for explaining another point of view. I do care and do figure it matters to decipher the various aspects of a major life blood (oil) of the global society.

 

[Bikeman315]

Hello; Interesting that you do not care and hold onto the opinion policies do not matter. However your posts become a good foil for explaining another point of view. I do care and do figure it matters to decipher the various aspects of a major life blood (oil) of the global society.

To clarify, I do believe policies matter. My vote goes to the candidates whose morals, ethics and beliefs align with mine. I also take into account their standing on major policies.

But what I do not believe is placing blanket blame on a policy to define a personal belief. That's what you are doing. There is no doubt that the current policies are having an overall effect on the automotive industry. But the massive increase in the EV industry started long before these policies went into effect. The need to reduce the our carbon footprint and reduce the use of fossil fuels started long before the current administration. And last but not least these recent policies have had zero effect on the current gas pricing situation. If they have and are responsible in some way for the major increases we have seen this year than why are prices not dropping? You cannot have it both ways.

 

[Bikeman315]

Funny this just came into my mailbox.

https://www.caranddriver.com/news/a... -- High Minus Dormant and 90 Day Non Openers

 

[K4fxd]

Funny this just came into my mailbox.

Getting close to November.

All I got.

 

[Strokerswild]

Sorry, couldn't resist.

 

[Stage_3]

 

[Mach VII]

Made me look closer, it is OPEC+ that decides output which directly influences prices. They are maximizing profit it would seem... imagine that.

 

[sk47]

To clarify, I do believe policies matter. My vote goes to the candidates whose morals, ethics and beliefs align with mine. I also take into account their standing on major policies.

But what I do not believe is placing blanket blame on a policy to define a personal belief. That's what you are doing. There is no doubt that the current policies are having an overall effect on the automotive industry. But the massive increase in the EV industry started long before these policies went into effect. The need to reduce the our carbon footprint and reduce the use of fossil fuels started long before the current administration. And last but not least these recent policies have had zero effect on the current gas pricing situation. If they have and are responsible in some way for the major increases we have seen this year than why are prices not dropping? You cannot have it both ways.

Hello; Afraid the portion in bold does not make sense to me. I cannot follow what the point may be in terms of having it both ways.

No doubt some have wanted to push EV's and a green agenda for years. Thing was they did not have the backing from influential quarters that have existed within the last going on two years.

Not sure what my "personal belief" you refer to may be. If you cannot or do not further explain I will make a guess later.

 

[sk47]

To clarify, I do believe policies matter. My vote goes to the candidates whose morals, ethics and beliefs align with mine. I also take into account their standing on major policies.

But what I do not believe is placing blanket blame on a policy to define a personal belief. That's what you are doing. There is no doubt that the current policies are having an overall effect on the automotive industry. But the massive increase in the EV industry started long before these policies went into effect. The need to reduce the our carbon footprint and reduce the use of fossil fuels started long before the current administration. And last but not least these recent policies have had zero effect on the current gas pricing situation. If they have and are responsible in some way for the major increases we have seen this year than why are prices not dropping? You cannot have it both ways.

Hello; I waited a few days after asking that you clarify parts of the above comment. You have not but have been active in other threads. Guess there will not be any further clarification so your assumptions will be allowed to stand without explanation yet again.

I do contend that policies enforced by those in positions of power do make a difference in our day to day lives. Not sure such is a "personal belief" in the sense you appear to be implying. I tend to think of it along the lines of actions and consequences. If i do something such as step out into thin air the consequence will be gravity will pull me down. Perhaps cause and effect is also a way to state it.

There are some traditionally accepted understandings being challenged of late. One has been that massive deficit spending leads to inflation. That spending can be for a very good reason or can be spending for something only favored by some in a society. Does not really matter as to the why of the excess spending. Good or bad reason the outcome is the same. That being a reduction in the value of a currency. Also known as inflation.

I hear about something called "modern monetary theory" lately. Afraid i do not follow this and that it does not make sense on the surface of what i hear. Flies in the face of traditional understandings about deficit spending and inflation. Perhaps someone can try to explain this.

Here is a guess on my part. If memory serves you were one who championed student debt loan forgiveness in other posts in other threads. If not you then the example still applies but will not be directly associated with you personally. Those who favor student loan forgiveness will not want excessive government spending tied to inflation. To tie the two together will make it harder to push for that policy.
The concept of loan forgiveness is also flawed the way it is worded. The loans are not forgiven at all just the responsibility to repay them is transferred to other people. Many of those other people never have any benefit from the actual loan but get to pay for some of them.

It is not just spending on loan forgiveness that counts toward inflation. Any state, county, city or nation that spends more than it takes in is in financial trouble. For states, counties, cities and the like the budgets have to be balanced.
For nations who print a currency things can be different for a time. While deficit spending can go on for a long time it can have a side effect which is inflation. We in my country and folks in several other countries are seeing the effects of such spending. Some of the excessive spending was during the ill-fated pandemic lockdowns. Some of that spending in my country was massive spending after the acute pandemic period. Our national debt is now around thirty trillion dollars.

So I do think policies which require massive spending affect inflation. Inflation adds to the cost of everything we have to buy up to and including fuel. Higher fuel costs have a double whammy effect on prices because on top of the regular inflation is added the cost of transportation.

There are other ways policies affect things such as commodities but that may be for another day.

All should feel free to add an explanation of details.

 

[LSchicago]

$4.85 for reg in western Chicago 'burbs. How can it be $3.50 in Myrtle? We have a state tax moratorium, so it can't be that. Also plenty of refining capacity AFAIK. Must be another factor. What is the price at top tier name brand?

I paid $4.33 in Franklin Park yesterday, and another station a couple miles away on Mannheim was $4.11 There are some stations in the Chicago area under $4.00 now. Chicagogasprices.com.

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