Gas Prices Are Set To Drop Below $3

[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!