My memory must be getting worse. This week I'm two days late with my usual gasoline chart:
But wait! This isn't my usual chart. What happened to the orange line representing the inflation-adjusted price?
Here's the deal: inflation figures are always a month or two behind, so I have to estimate recent inflation based on past trends. However, there hasn't been any inflation for the past couple of months—yet another accomplishment of our magnificent president—and when I corrected all my estimates the orange line disappeared. So I just deleted it.
Anyway, this means that whether you correct for inflation or not, gasoline is now $1.32 cheaper than it was at its June peak. No wonder Biden's approval rating is now skyrocketing.
Regular gas is $5.79 nearest to where I live. It has gone up 30 cents in the last couple of weeks. (I live in the San Francisco Bay Area).
Lol, it's 3.19 to 3.39 with more drops coming by October in my part of Ohio.
Still clinging stubbornly to the $4 mark here in upstate NY. Some spots are under $4 with cash discount, though.
Along my usual morning route, the low is staying pegged to $3.38.9 for regular. It's been flat for weeks at that level. (Albuquerque NE Heights)
That's because liberals don't want you to drive
I think it has more to do with greedy oil companies.
It's Biden's age group that has been looking down on his administration -- https://bityl.co/EQKI
He's at 50% approval with adults under-30: https://bityl.co/EQKN
Seems to me that his loan forgiveness and the climate change deal are what's driving his popularity rise, not gas prices. Old folks believe gas should be $0.99 a gallon like they were 22 years ago.
Retirees are anxious about inflation. I would think that they'd be mature enough by now to understand what a president can control and what he can't, though, but apparently not.
Where's Dr. Jack when they need him?
Everyone wants someone to blame....it makes them feel better.
RIP JOHN LENNON'S MONKEY
No inflation? My grocery, water, gas and electric bills disagree.
Month-over-month inflation has been pretty flat recently (ergo, "no inflation"). Year-over-year, however, it's still in the 8% range, which is not good. Gas and electricity prices this winter are going to be ugly.
Nope.
I just wonder if some companies are gouging us
Sam's Club Wilmington NC - $3.35/gal
Sam's Club Jacksonville NC - $3.05/gal
63 miles apart - same gasoline distributor, same state tax rate, and of course same federal tax rate.
I GET the price difference from state to state due to taxes but withing the same state? With such a wide disparity between stations? THAT's what I don't get
Not sure, but I would suspect that Sam's Club managers are given some leeway to charge what their local market will bear. Median household income in Wilmington is roughly 10% higher than in Jacksonville, which would come to about 30 cents in terms of a gallon of gas.
I'd guess they get product from different distributors. And there's more demand in the more populated areas, not to mention tourists during the summer.
There are also regional differences in the blend required--though maybe not in NC:
https://www.gasbuddy.com/go/summer-gas-2022
golack and jte
Considering how WalMart negotiates with its suppliers I highly suspect its due to a supplier issue (and both Sams clubs use the same distributor)
But, for other products there was no price difference. I actually went into the store to check for something that was out of stock at my normal store.
I think BOTH of you are right it's a combination of what the market will bear as they vacation along the beaches of SE North Carolina - and vacationers will spend in order to enjoy themselves.
It's so aggravating
So now we’re not supposed to look at core??
OER????? Dip shit. Core ain't as high as overall, but fall it will. Future inflation expectations are going down. Yry pops coming off means 2% inflation by March. Deflation by June.
Pain points.
Lower gas prices welcome, but still high. But not ridiculous anymore.
Rents high, and ridiculous in some areas.
Food. Chicken wing prices have dropped just in time for football season, so baring another outbreak of bird flu, will be ok. Other prices are still at ridiculous levels--but it's not the family farmer making the money so much.
Back to school prices for clothing, etc., annoyingly high, but tech prices are more reasonable.
A nice gap down will hit soon. 3.25 gas nationally by early October.
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No, this cannot be right! For months, on the evening news, I kept hearing that gas prices are "soaring" and "skyrocketing," but I never heard them say they're "plunging" or "plummeting" -- just that FOOD prices are "soaring" and "skyrocketing."
Dropped about 1.20-1.30 here since June.