Skip to content
Do you have adblock enabled?
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Slate)   Today's Slatesplanation: Why gas prices are (finally) plummeting. TL;DR: Americans are actually starting to change their driving habits to something that resembles responsible, but if lower prices push them back to their old ways, we're all hosed   (slate.com) divider line
    More: Murica, Peak oil, Petroleum, Inflation, 1973 oil crisis, Gas prices, Consumer price index, Fuel prices, Internal combustion engine  
•       •       •

1329 clicks; posted to Main » and Politics » on 05 Aug 2022 at 1:35 PM (2 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



123 Comments     (+0 »)
View Voting Results: Smartest and Funniest


Oldest | « | 1 | 2 | 3 | » | Newest | Show all

 
2022-08-05 9:46:26 AM  
1) This has been a recurring pattern since pretty much forever

B) We're all already hosed
 
2022-08-05 11:15:31 AM  
Keep em jack up.
It's a lot quieter without the testosterone speedway within earshot.
 
2022-08-05 1:37:29 PM  
Oh somebody actially wrote a story on falling gas prices?
 
2022-08-05 1:37:38 PM  
Looks like it's time to sell the Prius and buy an Escalade.  Dang!  I just traded in the Escalade for a Prius 3 months ago.
 
2022-08-05 1:38:07 PM  
Never thought I'd be happy to pay $3.75 for gas.

Meanwhile gas companies are reporting higher than expected profits this quarter...I wonder why...
 
2022-08-05 1:38:24 PM  
Gas prices are falling?
 
2022-08-05 1:38:35 PM  
Gas prices are inversely correlational to Dark Brandon memes. Prove me wrong.
 
2022-08-05 1:38:41 PM  
Every electric car sold is a bit less demand for gasoline. Only question is if the refinery capacity is aging out faster than the electric car stock is growing (oil companies know what direction the demand curve is going and aren't going to piss money away on a 50-year asset they know only has at most a 20-year market to sell to).

Doesn't matter how low gas prices go, I'm still plugging in my plug-in hybrid and doing 90% of my miles on electric.
 
2022-08-05 1:38:53 PM  
Yeah. It's driving habits and no other reasons...

Fark user imageView Full Size


None whatsoever.
 
2022-08-05 1:39:40 PM  
c.tenor.comView Full Size
 
2022-08-05 1:39:55 PM  
Fark user imageView Full Size
 
2022-08-05 1:40:22 PM  
Did we meaningfully reduce the percentage of large trucks and SUVs used to carry one person? No, then nothing meaningful has changed and demand will go back up. If folks stop buying large ICE vehicles and instead buy EVs then we've made some amount of progress, but our 5% EV penetration rate doesn't seem to indicate that's likely.
 
2022-08-05 1:40:45 PM  
Of course they will.
 
2022-08-05 1:41:47 PM  
Good Republican truism: Until gas is free, no Real American is free.
 
2022-08-05 1:41:57 PM  
I don't think most people were choosing to drive more than they had to in the first place.
 
2022-08-05 1:42:44 PM  

Meatsim1: Gas prices are falling?


Fark user imageView Full Size
 
2022-08-05 1:43:51 PM  
It's because the leaver has been pulled again!
Fark user imageView Full Size
 
2022-08-05 1:44:48 PM  
 
2022-08-05 1:47:11 PM  
Speculators move gas prices.  They get a lot of ire when they bid up the price, but no love when they short.  They're primarily shorting now.  See, short-sellers aren't so bad.

Today's RBOB number is down a $1.30 from the peak in early June.  It's actually plummeted $0.30 this week.  Futures are showing a soft fall all the way into April of 2023.

Unless Putin does something even stupider.
 
2022-08-05 1:47:34 PM  

Surpheon: Every electric car sold is a bit less demand for gasoline. Only question is if the refinery capacity is aging out faster than the electric car stock is growing (oil companies know what direction the demand curve is going and aren't going to piss money away on a 50-year asset they know only has at most a 20-year market to sell to).

Doesn't matter how low gas prices go, I'm still plugging in my plug-in hybrid and doing 90% of my miles on electric.


Someday I want a hybrid or EV. Prices I know are coming down but they're still out of my range.

/My Nissan does get good gas mileage
//But still when one of the Big Car Manufacturers make a cheap and useful EV then they'll make bank
 
2022-08-05 1:47:40 PM  

Gin Buddy: [Fark user image 760x574]


Canyonero!
 
2022-08-05 1:48:18 PM  

Alphax: I don't think most people were choosing to drive more than they had to in the first place.


I drove to Florida in late June.  I've never seen I-75 so packed.  It was nuts.  A normal 5.5 hour drive ended up being almost 8.
 
2022-08-05 1:48:24 PM  
But if the oil executives can't sell gas for $5/gal what will happen to the families of those who scrub the decks of their yachts?
 
2022-08-05 1:48:28 PM  

Dusk-You-n-Me: Meatsim1: Gas prices are falling?

[Link][Fark user image image 680x310]


charts.gasbuddy.comView Full Size


charts.gasbuddy.comView Full Size
 
2022-08-05 1:48:38 PM  
Those patriot convoy people finally got arrested.
 
2022-08-05 1:49:13 PM  
I assume soon we'll have RWNJ's going around gas stations scraping off those stickers they've been plastering everywhere, and/or claiming that liberals put them there to give Biden credit for something he had no control over.
 
2022-08-05 1:49:19 PM  

robodog: Dusk-You-n-Me: Meatsim1: Gas prices are falling?

[Link][Fark user image image 680x310]

[charts.gasbuddy.com image 670x325]

[charts.gasbuddy.com image 670x325]


Thanks for reiterating that gas prices are falling.
 
2022-08-05 1:50:15 PM  

Gin Buddy: [Fark user image image 760x574]


Oldest brother bought a Dodge pickup earlier this year.  He was biatching up a storm about Joe Biden and gas prices with how he "shouldn't have to be paying that much for fuel when he wants to go driving around on the weekend".  I didn't say a word about why I prefer small, sporty cars.  It will be fun when I finally get an EV.
 
2022-08-05 1:50:31 PM  

Dusk-You-n-Me: robodog: Dusk-You-n-Me: Meatsim1: Gas prices are falling?

[Link][Fark user image image 680x310]

[charts.gasbuddy.com image 670x325]

[charts.gasbuddy.com image 670x325]

Thanks for reiterating that gas prices are falling.


From a local unprecedented mixima, still very high by historical standards.
 
2022-08-05 1:51:12 PM  

Chief Superintendent Lookout: he wants to go driving around on the weekend".


Wait.  This is an activity?  Just driving around?
 
2022-08-05 1:51:14 PM  

robodog: Dusk-You-n-Me: robodog: Dusk-You-n-Me: Meatsim1: Gas prices are falling?

[Link][Fark user image image 680x310]

[charts.gasbuddy.com image 670x325]

[charts.gasbuddy.com image 670x325]

Thanks for reiterating that gas prices are falling.

From a local unprecedented mixima, still very high by historical standards.


Correct. But that wasn't his question!
 
2022-08-05 1:51:15 PM  
Gas is a global commodity. American driving habits do have a small effect on its total consumption, but they're a relatively small piece of the pie. If all developed countries changed their driving habits along with their eating and product buying habits, then we would be talking.
 
2022-08-05 1:52:37 PM  
While HV/PHEV/EVs will help the real key is changing the way cities and towns are developed and ending a 80 year policy of building infrastructure strictly for the automobile. More walkable towns/city centers, better/efficient/cheaper public transportation, more bike lanes, etc.
 
2022-08-05 1:53:09 PM  
Fark user imageView Full Size


robodog: Did we meaningfully reduce the percentage of large trucks and SUVs used to carry one person? No, then nothing meaningful has changed and demand will go back up. If folks stop buying large ICE vehicles and instead buy EVs then we've made some amount of progress, but our 5% EV penetration rate doesn't seem to indicate that's likely.


Well, maybe if people were paid more adequate wages, they'd be inclined to buy EVs. Or, what if we taxed the wealthiest individuals and big businesses and used some of that money to actually produce accessible and envionmentally-sustainable public transit systems.
 
2022-08-05 1:53:30 PM  

robodog: Did we meaningfully reduce the percentage of large trucks and SUVs used to carry one person? No, then nothing meaningful has changed and demand will go back up. If folks stop buying large ICE vehicles and instead buy EVs then we've made some amount of progress, but our 5% EV penetration rate doesn't seem to indicate that's likely.


I've been in the market for a pickup. But right now prices are ridiculous. Looking at EV pickups the otd price is even worse. I've pushed back my purchase for 12-18 months but there are still no affordable practical EV trucks on the market. Maybe the Ford 150 lightning if it ever sells for sticker.
 
2022-08-05 1:54:09 PM  

Lillya: Oh somebody actially wrote a story on falling gas prices?


Yeah, but only with the warning that they will go right back up if we drive further than a couple of blocks in Biden's America.
 
2022-08-05 1:54:57 PM  

Rapmaster2000: Alphax: I don't think most people were choosing to drive more than they had to in the first place.

I drove to Florida in late June.  I've never seen I-75 so packed.  It was nuts.  A normal 5.5 hour drive ended up being almost 8.


Same here...North Jersey...I see no evidence that anyone is cutting back on driving.  The roads are even more packed than they were pre-COVID.
 
TWX
2022-08-05 1:56:32 PM  
It's funny.  I've grown up through the minivan era, and around here at least. very few tradesmen used minivans, or compact pickups, or even cabover trucks like from Izuzu and Mitsubishi.  Most used full-sized pickups and vans even when smaller vehicles well-suited to their trades were available.  It was almost notable when companies would choose more fuel-efficient vehicles for their fleets, like Truly Nolen and their mouse-themed cars over the yars.

Lately this has changed.  I'm seeing a lot more use of things like the Ford Transit Connect.  Those in the trades often have to travel great distances depending on the jobs they've been awarded, I guess that companies and individual workers are getting tired of paying more and more for fuel when the big vehicle doesn't really offer them anything over what a smaller one does in many cases.
 
2022-08-05 1:57:05 PM  

Fissile: Rapmaster2000: Alphax: I don't think most people were choosing to drive more than they had to in the first place.

I drove to Florida in late June.  I've never seen I-75 so packed.  It was nuts.  A normal 5.5 hour drive ended up being almost 8.

Same here...North Jersey...I see no evidence that anyone is cutting back on driving.  The roads are even more packed than they were pre-COVID.


Same in northwest. I-5 packed, any roads leading to 101 and 101 are packed on weekends.
 
TWX
2022-08-05 1:57:19 PM  

Target Builder: I assume soon we'll have RWNJ's going around gas stations scraping off those stickers they've been plastering everywhere, and/or claiming that liberals put them there to give Biden credit for something he had no control over.


That requires a lot more introspection than they've demonstrated.
 
2022-08-05 1:58:41 PM  
Funny how prices started falling as soon as quarterly earnings were coming out, like, everyone is seeing how much these guys are raking in huge profits, but you won't hear them credit the current administration for falling prices, as they shouldn't. Prices in my area are down more than a dollar a gallon in only 3 weeks.
 
2022-08-05 1:58:53 PM  

ElwoodCuse: Gin Buddy: [Fark user image 760x574]

Canyonero!


You'll be back in an Adobe Car next gas spike.
external-content.duckduckgo.comView Full Size
 
2022-08-05 1:59:19 PM  

Red Shirt Blues: robodog: Did we meaningfully reduce the percentage of large trucks and SUVs used to carry one person? No, then nothing meaningful has changed and demand will go back up. If folks stop buying large ICE vehicles and instead buy EVs then we've made some amount of progress, but our 5% EV penetration rate doesn't seem to indicate that's likely.

I've been in the market for a pickup. But right now prices are ridiculous. Looking at EV pickups the otd price is even worse. I've pushed back my purchase for 12-18 months but there are still no affordable practical EV trucks on the market. Maybe the Ford 150 lightning if it ever sells for sticker.


See if you can find a fleet buyer and join onto their order, dealerships fark around with them a lot less than individual consumers and if the low range version meets your need they're significantly cheaper than any of the retail models.
 
2022-08-05 1:59:19 PM  

TWX: It's funny.  I've grown up through the minivan era, and around here at least. very few tradesmen used minivans, or compact pickups, or even cabover trucks like from Izuzu and Mitsubishi.  Most used full-sized pickups and vans even when smaller vehicles well-suited to their trades were available.  It was almost notable when companies would choose more fuel-efficient vehicles for their fleets, like Truly Nolen and their mouse-themed cars over the yars.

Lately this has changed.  I'm seeing a lot more use of things like the Ford Transit Connect.  Those in the trades often have to travel great distances depending on the jobs they've been awarded, I guess that companies and individual workers are getting tired of paying more and more for fuel when the big vehicle doesn't really offer them anything over what a smaller one does in many cases.


My favorite trucks are the useless extended cab trucks that have a tiny bed.

Barely can fit anything back there that you couldn't fit in a van.  It's performative consumption, not based on any real need.
 
2022-08-05 1:59:49 PM  
That's a lot of words to say "supply and demand."
 
2022-08-05 2:00:32 PM  

TWX: Target Builder: I assume soon we'll have RWNJ's going around gas stations scraping off those stickers they've been plastering everywhere, and/or claiming that liberals put them there to give Biden credit for something he had no control over.

That requires a lot more introspection than they've demonstrated.


That also involves cleaning things up.  Based on the faded RON PAUL bumper stickers I still see stuck to light poles and traffic boxes, that's not a thing they do.
 
kab
2022-08-05 2:00:59 PM  
Let's see:

even though gas prices are still at least 31 percent higher than they were at this time last year.

Only good tidbit in the entire first paragraph.  Even this time last year they were higher than they should have been.   The consumer adapts to fleecing pretty quickly.

According to AAA, there continues to be a reduction in work commutes, and families are also slowing down their retail shopping and restaurant dining habits.

Well, yeah.. when gas goes up, people react by spending less elsewhere, which is exactly as it should be.   The driving habits overall though?  As of May 2022, we're driving just as many miles as we were at the peak of pre-pandemic.

The Energy Information Administration stated Wednesday that aviation fuel consumption has dropped by nearly 20 percent over the past week, perhaps due to the recent spate of flight cancellations and airline troubles.

Or perhaps people are bailing on flights because of ... you know, inflation nixing their vacation plans?

Some analysts caution that the gas-price comedown may be temporary at best.

Well of course.  Any excuse to boost prices will be executed on.  After all, once you get people used to a 30% price hike, a 10% reduction feels like a favor.
 
2022-08-05 2:01:56 PM  
I ride the bus to work and, on average, fill my car up once a month.

/I'm doing my part
 
2022-08-05 2:02:31 PM  
Plummeting?  Where's that?
 
2022-08-05 2:02:47 PM  

robodog: Dusk-You-n-Me: robodog: Dusk-You-n-Me: Meatsim1: Gas prices are falling?

[Link][Fark user image image 680x310]

[charts.gasbuddy.com image 670x325]

[charts.gasbuddy.com image 670x325]

Thanks for reiterating that gas prices are falling.

From a local unprecedented mixima, still very high by historical standards.


static01.nyt.comView Full Size
 
Displayed 50 of 123 comments


Oldest | « | 1 | 2 | 3 | » | Newest | Show all


View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking




On Twitter


X
  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.