Gas Prices - climbing to Record Highs

[Jay Bee]

There's a thread on: Gas Prices hit new Record Lows, thought I'd start a polar opposite.

Today some stations in my area are selling it for $1.439CAD/liter.
Using an on-line calculator that equates to $4.29USD/US gallon.

The morning news said it might hit $1.60/liter ($4.77USD/US gal.) before it gets any better.

[Dakota]

87 octane (10% ethanol) was $3.65/gal (US) yesterday, and $3.86/gal for 90 Octane (no ethanol) "recreational fuel" that I put in the Challenger. 

[cuda hunter]

Here in central Colorado in the mountains we are paying 3.77 per gallon of regular gasoline. 
This is absolutely ridiculous.  Less than a year ago I was paying 1.86 for gasoline per gallon.
I'll throw in the typical, Thanks Joe for screwing us.   Let's go back to our energy independence instead of relying on OPEC.  I guess the majority of people want to ask OPEC ( many of our enemies) for their approved amounts and prices of oil from those arab nations.    Non political and the truth. 
  RIDICULOUS !! 

[Filthy Filbert]

"save the environment" and all that jazz.   Driving the cost of oil/fuel up in order to motivate us towards electric cars.

...so that when they want to control us further, they just shut off the power grid, and nobody can go anywhere or do anything because the cars all have dead batteries. 

Remember when folks couldn't evacuate from approaching forest fires because they went all electric with their vehicles, and the power grids were shut down "to prevent the further spread of fires from high winds knocking down power lines"?       It wasn't a significant amount of people, but it was enough to get mentioned in the news

[HP2]

sigh... gas prices are much more complicated than simply who is president and what technology is present.  Gasoline is a GLOBAL commodity.  Global demand, or lack of, and refinery capability, or lack of, product availability, or lack of, and geo-politics impacts prices much more often and to a greater degree than who is the US president. 

Adjusted for inflation, gas prices have actually been decreasing for decades through numerous administrations.

But since we are talking about presidents, lets look at some time lines. In non-adjusted pricing, gas reached a record high in 2008 (under a Republican president) before a global recession killed demand and drove prices down.  As economies everywhere recovered, demand resumed and prices rose again to another record high in 2012. It was about this time that US law was changed to allow US oil companies to export and the US became a net exporter (under a Democrat), that prices began to drop again. It was in 2016 that pricing reversed and again began to rise as the low oil price caused many American oil producers to close operations, thus cutting production, and many of the foreign oil producers voluntarily cut production to help with  increase pricing. Prices have continued to rise (under a Republican) until a global pandemic killed demand and prices plummeted to an unnatural low point. Those of us who drove through this pandemic were treated to prices not seen since the '80s. You couldn't have really believed this would last.  As countries are recovering from this, as travel began to increase, as more and more people got out and began to resume a normal life, demand has sky-rocketed ahead of production. Simple supply and demand. Yea, whether we like it or not, prices are going to follow.

Rest assured that this increase in price will motivate more American companies to resume production and exploration to help bring prices back down. Since this doesn't happen overnight, it likely will not be until the next president or later that it will occur, and then the political blame machine can resume the ill-informed, ill-logic of how some future current president fixed gas prices. 

[JH27N0B]

If you think gasoline prices are bad, wait until you see natural gas prices this winter when you are paying your heating bills! 
Fact is everything is mess now inflation wise, and I'm pretty discouraged about it as I started my first paycheck job in the late 70s as a stock boy at a grocery store and feel like I've seen this before.  I remember doing price changes in the aisles, putting new higher price stickers on cans and boxes on a weekly basis while customers glared at me.
It was really a bad time, but as a part time kid starting my career it didn't affect me.  I was getting nice raises regularly and living rent free at my parents house.
In college I took Economics 101 which it would appear not many take, especially politicians.  Too much money chasing too few goods=higher prices is a big takeaway from taking a basic economics class. Starting in spring 2020 when the government started paying people stimulus checks whether they were affected or not, while locking us up not able to go out and spend seemed absurd to me, then paying people supplemental unemployment that in many cases added up to more than the unemployed made working was equally absurd.
Now way too much money chasing too few goods multiplied by Covid shutdown related supply shortages and you have a perfect storm.  Whodathunk?  Apparently only me from my background taking an Economics class at a community college while working at a grocery store when I was 19?
Remember nothing is free when you think you are getting "free sheet".
It didn't affect me then, but as one who saved and invested starting in those grocery store days and was well set for a comfortable early retirement, it affects me now with my dollars losing value by the minute with the politicians throwing fuel in the fire by continuing to blow out spending. I've been buying things I've wanted this year while my money still has value, and so far this is proving to have been a wise strategy!

[HITTER23]

What do you really think would happen when the first thing Dementia Joe did when he got into office was shut down pipelines?

[Shane Kelley]

What do you really think would happen when the first thing Dementia Joe did when he got into office was shut down pipelines?

And shut down drilling on government land.

[tparker]

I don't know about record highs. Back in 2008 or so I sold my srt4 when gas hit well over $5 a gallon. I bought a motorcycle and have been on it since. Gas is up to $4.50 or so here in central California. It might not be long till we get to that $5 mark again though.

[7212Mopar]

Here in SF Bay Area, 91 octane is over $5/gallons a few weeks ago. I just filled up my 73 last Saturday.

[BIGSHCLUNK]

The difference between states always makes me go hmmmmm . I was just in Missouri - (this is for regular/ethanol) under 2.89 , but Illinois $3.39 but here @2.99  go figure.........

[JH27N0B]

$3.39?  Whereat?  All the stations seemed to be up to $3.59 yesterday.
I'm working from home 3 of the 5 days a week now so at least I'm burning up far less gas nowadays.
I used to put close to 20,000 miles a year on my cars this year it will be well under 10,000.

[Filthy Filbert]

The difference between states always makes me go hmmmmm . I was just in Missouri - (this is for regular/ethanol) under 2.89 , but Illinois $3.39 but here @2.99  go figure.........

Each state adds their own tax onto gas, which is why it varies so much from state to state. 

[JS29]

The difference between states always makes me go hmmmmm . I was just in Missouri - (this is for regular/ethanol) under 2.89 , but Illinois $3.39 but here @2.99  go figure.........

Each state adds their own tax onto gas, which is why it varies so much from state to state.

And that is why we New York citations will NEVER see gas under $2.00 Dollars per gallon again!!!!! 

[1Burgfish]

  In 2008 gas prices went up to almost $4.50 in Texas under this rearranged administration so we shouldn't be surprised that this was going to happen, back then their Green New Deal didn't work out to well (except for the ones in the know on which green companies to sink money into) everyone else had to take public transportation to get to work and struggle just to get bye. The big giveaway was when the Pipeline was shut down instead of being slowed down but kept online so when we got through the pandemic the valve could be turned up and we wouldn't have to beg OPEC to ramp up production to help us out. Anyone with Common Sense could have seen that so now we only have to ask one Question.... How do you like your Joe???