Why are gas prices so high (and why do they keep climbing)?

[Chew Toy McCoy]

The “bad news” is that inflation is still high compared to a year ago. So people are still hurting.

The “good news” is that it isn’t worse than a month ago. So it’s possible to get in under control, and we could very well be spared really bad numbers.

So different outlets can spin it different ways depending on how they present the numbers.

This is a weird economic situation. High inflation, good hiring numbers, but a still-broken supply chain and pent up demand. I don’t think anything like this has really existed in the US at any point since the start of the 20th century.

Don't forget housing cost, buying or renting. That's severely cutting back on disposable income and for whatever reason politicians don't think that's relevant to the economy despite being the bulk of most people's monthly expenses. Everything gets the "inflation" label except housing. That's referred to as a "boom" as if trying to attempt to cover up that it's also inflation and at a much higher rate than everything else that is rising.

 

[Edd]

Don't forget housing cost, buying or renting. That's severely cutting back on disposable income and for whatever reason politicians don't think that's relevant to the economy despite being the bulk of most people's monthly expenses. Everything gets the "inflation" label except housing. That's referred to as a "boom" as if trying to attempt to cover up that it's also inflation and at a much higher rate than everything else that is rising.

Politicians seem generally unconcerned with housing costs. Democrats, I think, have paid lip service. Republicans do-not-give-a-fuck.

If someone can correct me about this, I’m curious to hear about it.

 

[Deleted member 215]

The national average is currently slightly less than it was a month ago. Yet here in California, prices are back to being as high as they were in June, if not higher. More than $2 higher than the national average.

So there's Ukraine and a hurricane in the Gulf so that means gas prices have to go up expoentially...only in California. It's such incredible BS.

 

[Apple fanboy]

Although oil price has dropped the £ is so weak against the $ it’s going to go up again. And yes being an EV driver it doesn’t effect me as badly as others, but does effect the cost of everything else.

 

[Herdfan]

but does effect the cost of everything else.

Yes it does. I can buy diesel at Kroger or a local c-store for $4.49-4.59. All the truck stops are still at $5.25. Not sure why other than they can. But that difference will be priced into everything you buy that comes by truck.

 

[Chew Toy McCoy]

My usual gas station is down for next month for maintenance and upgrades. So I went by another gas station and it was up about $0.75. I thought it might just be that gas station, said fuck that, and left. Was going to go to a station by work but the price was also high. So I researched and that's just the way it is. Gas is up about $1 from a month ago in CA, climbing towards $7.

Pile this on with the Fed's psychotic interest rate hikes to crush the working class and it's not people saving and spending more wisely. It's people spending what little money they have just to pay for the basics and mounting interest. Thanks capitalism!

 

[Citysnaps]

In Menlo Park, California I saw a sign for $8 (and something)/gallon for premium. Around $7.70 for regular. All self-serve. No one was buying gas when I drove by. Shocked.

 

[DT]

Our gas has been trickling down, like 87 is around $3.20, I think the E0 I just bought was like $3.80

 

[fischersd]

Vancouver area has the highest prices for gas in Canada. (or so we think) - I know it's way cheaper in Onterrible.
We're paying about $2.40 per litre (that's $1.76 US)
1 US gallon = 3.78541 litres
So, that's $6.66 per gallon (kinda poetic, isn't it?)

Edit: Yep, we are paying the most: https://www.gasbuddy.com/can

 

[Deleted member 215]

In Menlo Park, California I saw a sign for $8 (and something)/gallon for premium. Around $7.70 for regular. All self-serve. No one was buying gas when I drove by. Shocked.

I live in Menlo Park. Where was that?

The Shell at El Camino & Middle had 7.07 for Premium. That's more like what I'm seeing at other places.

 

[DT]

Oh yeah, GasBuddy showing < $3

 

[Yoused]

I think we are paying something under 4.20 at the low-end (I almost always go to Safeway, though Fred's is about the same).

 

[Citysnaps]

I live in Menlo Park. Where was that?

The Shell at El Camino & Middle had 7.07 for Premium. That's more like what I'm seeing at other places.

That was the Chevron station on the corner of Alameda de las Plugas and Avy Ave. Guessing Sharon Heights folk don't mind. There's no competition in that area.

 

[Herdfan]

Paid $4.23 for diesel at a WalMart Neighborhood Market in Sevierville, TN. Happy for the discount over most, but was paying under $3 a year ago.

 

[shadow puppet]

It's well over $6/gallon in my area of L.A.
Last night the news showed some price gauging near Chinatown area charging over $8/gallon.

 

[Herdfan]

It's well over $6/gallon in my area of L.A.
Last night the news showed some price gauging near Chinatown area charging over $8/gallon.

Yeah, offspring is freaking about that. She is moving to Santa Clarita at the end of this month and then gas will no longer be on daddy. She recently made a trip to GA and had to fill her tank 3 times on her dime.

 

[Macky-Mac]

It's well over $6/gallon in my area of L.A.
Last night the news showed some price gauging near Chinatown area charging over $8/gallon.

I saw mid $7 range yesterday in Beverly Hills

 

[Macky-Mac]

Yeah, offspring is freaking about that. She is moving to Santa Clarita at the end of this month and then gas will no longer be on daddy. She recently made a trip to GA and had to fill her tank 3 times on her dime.

the end of childhood often comes with a shock

 

[Chew Toy McCoy]

'Their Greed Knows No Bounds': Analysis Shows Ongoing Price Gouging by Oil Giants

"Big Oil is boasting record profits and dragging their feet to pass any lower costs onto consumers in order to keep padding investors' pockets," says Accountable.US in a new analysis.

www.commondreams.org

But I thought it was all because of Putin, stimulus checks, and people getting raises.

 

[fischersd]

The oil companies use all kinds of excuses to rationalize why gas prices haven't been tied to oil prices for what? The last 20 years now?

They're reporting the major bump in pricing in the west is due to two refineries being shut down for month-long maintenance - one in Alberta and one in Washington state. Usually doesn't cause a problem as demand ebbs in September...but it didn't this year - demand continues to be high, but supply is constrained.

But, once that maintenance is done, I'm sure they'll have another red herring that they can point at to explain their ridiculous gouging of us.