Gas Prices Are Set To Drop Below $3

[Coexist]

https://jalopnik.com/gas-prices-are-set-to-drop-below-3-1851682974

According to data from GasBuddy, gas prices have been trending downward for two weeks. It’s sitting at $3.07 right now, which is a drop of nearly 40 cents from this time last year. Yet, GasBuddy warns against blaming the drop on domestic politics. Instead, it’s foreign policy that’s dictating prices:

“The national average price of gasoline has continued its decline over the last week, as expected, as oil prices have sunk due to Israel avoiding attacks on Iran’s oil infrastructure, and seasonal decreases in demand are pushing gasoline lower, as is normal for this time of year. In addition to gasoline prices falling to their lowest level since January, the average price of diesel has now fallen to its lowest level in over three years,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “While many Americans may incorrectly credit the upcoming election for the declines, politicians have little influence over the strong seasonal forces that drive prices lower in autumn. With winter gasoline soon to reach the rest of California, and demand continuing to decline as Americans grapple with colder weather, the drop in demand is pushing gas prices down — not politicians on either side, as much as they might like to think they do. I expect the decline in gas prices will continue into and even beyond the upcoming election.”

[Drum]

1. Kingston NY area: in the $2.80s

[Lochloosa]

2. Jacksonville, FL 289 or so

[newdeal2]

3. Thanks Biden?!

I’m sure fox will call this election interference.

[Maeve]

4. I've seen $2.86 in central Ohio this past week

[PeaceWave]

5. $3.89 here in the Bay Area.

[Quixote1818]

6. They have been below $3.00 in many places in NM for a couple of months now. As low ast $2.50 in some places

https://www.gasbuddy.com/gasprices/new-mexico

[Historic NY]

7. I just found out using my amazon credit card (Chase)

I can save another 10 cents per gallon. We are limited to gas stations but BP is one. . Next tank I go there ,

[ArkansasDemocrat1]

8. Paid $2.50 9/10 yesterday for E-15

[royable]

9. **sputter** **fume** "Itza demmokrat plot tuh STEEL th'lecshun!!!"

[Ferrets are Cool]

10. That's great, but I haven't paid more than 2.59 for months now. I paid 2.52 this morning.

[doc03]

11. I saw $2.69 at one location in Ohio Friday, still $2.89 here.

[niyad]

12. $2.74/ gal at the shell station down the road. Has been under $3 for the

last month.

[JCMach1]

13. $2.43 in North DFW burbs

[Tree Lady]

14. $3.15 southern oregon costco

[LowerManhattanite]

15. $2.87 a gallon...

…here in East Flatbush, Brooklyn.

[Brenda]

16. I did that!!!

$2.59 in my area.

[mucholderthandirt]

17. It's been under $3 here for weeks. Central Piedmont area of NC (includes pretty much all large cities).

[CONN]

18. Here's the crazy facts... that 25 cents a gallon in 1950 would be $3.25 today

For reference https://www.amortization.org/inflation/amount.php?year=1950&amount=.25&to=2024

So most of the country is paying less than $3.25 a gallon.

Another consideration is that the average MPG for vehicles in 1950 was 12.8 MPG (reference: https://www.eia.gov/totalenergy/data/annual/showtext.php?t=pTB0208). It is considerably higher today -- 26.4 MPG (https://www.lendingtree.com/auto/fuel-efficiency-study/).

So in real terms the average driver's cost has never been lower.

Biden actually did a great job managing gas prices after Russia invaded Ukraine and linger issues due to the impact of COVID. Other countries has bigger increases at that time (eg the UK). It is unusual for a President to have this king of impact. Biden did this through his use of the Strategic Oil Reserve.

Last Wednesday on NPR, I heard (random? - how do they decide which to air?) interview of early voter in Georgia. The 3rd, a gentleman said he voted for Trump because of gas prices!!!!!! On BBC America on Saturday the opinion expressed was if Harris loses it will be due to prices.

I for my part have submitted my detailed price analysis (it's more than gas prices) to different Dem running in the upcoming election hoping for better messaging.

IMO, DNC and Dems could do better!