Simple supply/demand concept and that's why gas prices are down in some areas

[theking]

 :

Gas Prices Are Falling Nationwide, Except in These States

Analysts say that recent nationwide declines in gas prices come from lower demand at the pump and a drop in crude oil prices, The Wall Street Journal reports. According to data from AAA, the average price for a regular gallon of gas fell 12 cents to $4.72 on July 8 versus the prices paid on July 1. However, not every state is seeing big price drops.

Hawaii and North Dakota were the only two states with gas price increases from July 6 to July 7 — rising .1 and .7 cents per gallon, respectively, Forbes reports. Alaska, Idaho, Colorado and Montana were the only states to not to see any significant change in gas prices. Hawaii is the only state where gas prices have increased over the span of the last week. Idaho, Wyoming and Utah are the only states to have prices fall by less than two cents per gallon during the same period.

Over the past month, Forbes noted that — broadly speaking — prices are down more than 16 cents per gallon, but also that a dozen states had prices go up during that period: Wyoming (28.4 cents per gallon), Utah (27.4 cents), Idaho (26.1 cents), Montana (22 cents), Colorado (15.6 cents), Hawaii (13.4 cents), Alaska (11.9 cents), South Dakota (10.6 cents), Nebraska (5.6 cents), Kansas (2.2 cents), North Dakota (1.2 cents) and West Virginia (1.1 cents).

Forbes added that Washington, D.C., enjoyed the biggest price drop (5.5 cents) between July 6 and July 7 — while the most significant gas price drop over the last week took place in Illinois (15.9 cents). Wisconsinites took advantage of the greatest gas price drop over the past month (33.8 cents).

The WSJ reported that prices may continue to fall if the trend continues; however, “July is typically the heaviest month for demand as more Americans hit the road, so this trend of easing prices could be short-lived,” AAA spokesman Andrew Gross said in a statement.

https://www.gobankingrates.com/money/economy/gas-prices-falling-nationwide-except-in-these-states/?utm_campaign=1173532&utm_source=yahoo.com&utm_content=13&utm_medium=rss

[hmgROCK]

..but not going to happen any time soon based on what I've seen recently from my travels. People are still pumping at a good rate:

Here are the photos I took recently at the world's largest gas station chain during a trip and yep, still plenty of customers pumping:

Lol

Didn’t this dude tell us demand was still high
Pumping at a good rate

 

Too funny man



HE HAS ZERO IDEA

[theking]

I ALREADY STOP CLICKUON THEM

THEREFORE:

yeah i just make that stuff up

Just lied, dude

BECAUSE:

I HATE MYSELF

[theking]

There's that "d" word again  :

U.S. oil prices settle with a more than 3% loss as weak gasoline demand allows fuel inventories to rise

Oil futures fell sharply on Thursday, with U.S. prices logged their lowest finish in a week, with a counter-seasonal rise in U.S. gasoline inventories reflecting falling demand.

https://www.marketwatch.com/story/oil-down-sharply-as-falling-gasoline-demand-allows-fuel-inventories-to-rise-11658403585

[theking]

Gas prices aren’t the biggest inflation concern

You might have heard recently that gasoline prices are way too high. In fact, that might be all you’ve heard about.

As gas prices topped $4 per gallon in March, then $5 per gallon in June, media coverage of exasperated drivers exploded and politicians hoping to tar their opponents cast blame every which way. President Biden’s chief of staff, Ron Klain, reportedly checks gas prices every morning, while a team of White House economists plots strategies to address the problem.

Consumers, however, have bigger financial concerns, according to a new Yahoo Finance / Morning Consult poll on Americans’ inflation worries. In the poll, 63% of respondents said they are very or somewhat confident they can afford gas. Only 29% said they were not confident they could afford gas. Those numbers do reflect the strain high gas prices are causing consumers, but gas prices cause a lot less concern than other things the poll asked about. (The survey of 4,420 adult Americans took place July 16 and 17. Click here for the complete set of poll results.)

The survey asked about 13 different things a typical family needs money for. Gas prices were only the 9th biggest concern. Respondents had the lowest levels of confidence for contributing to retirement and saving money in general. Among expenditures, child care was the biggest concern, with 42% saying they can afford it and 28% saying they can’t. Fewer people need child care than need gasoline, yet the portion saying they can’t afford each was nearly the same.

[theking]

The AAA says high gas prices are destroying demand, with 64% of Americans altering their lifestyle as fuel costs surge

The surge in US gas prices has caused demand destruction, a new survey by the American Automobile Association shows.

The AAA found that 64% of people surveyed last month had altered their lifestyles, with many driving less.

But that demand destruction is in turn contributing to a fall in oil and gas prices, which are down sharply from June highs.

High gas prices are triggering so-called demand destruction, according to an American Automobile Association survey, which showed Americans are changing their lifestyles to consume less fuel.

The AAA surveyed more than 1,000 Americans last month, with 64% saying they had made changes to their lifestyle in response to the jump in gas prices.

[theking]

Makes sense, basic simple supply/demand factor...:

Why Gasoline Prices Could Fall Further

Crude oil prices are not likely to see large gains because of the contraction in the economy....

"In the United States, a slowdown in the economy, coupled with reduced demand after the summer vacation driving season, should keep crude oil prices in check," he said. "The current economic doldrums in China, previously the world's largest importer of crude oil, will also damped the demand for crude oil."

[hmgROCK]

These low gas price prediction that i say will happen
Is hurting his PRIDEand EGO


 

[theking]

Speaking of "hurting", THAT GUY is still "hurting" so badly for being wrong that he still couldn't abide by his own words...

I ALREADY STOP CLICKUON THEM

THEREFORE:

yeah i just make that stuff up

Just lied, dude

BECAUSE:

I HATE MYSELF

Per the "legit" quotes above, HIS WORDS, NOT MINE...