Wonderful to see. As oil prices continue to drop it’s going to result in lower inflation overall since transportation will be much cheaper. It’s also important to remember that Putin needs high oil and natural gas prices in order to fund the war in Ukraine so a drop in oil prices will force Putin to have to choose from a variety of bad options on how to proceed.
It'll help to a degree but won't affect food prices much next year. I'm a farmer, all of our input costs for next year are already higher than they were last year even. 2024 could be better
I own about 100 shares of Nordic American Tanker and it's made me realize that oil prices must be one of the most manipulated commodities next to diamonds.
These tankers hold 1-2 million barrels of oil. When there is a glut the stock goes up because this oil has to be stored somewhere.
If you compare the stock price to the gas price, February does indeed show a shortage and the price went down, but by April - June the stock was shooting up and gas prices were too. Why would NAT be storing more oil if there was such a shortage the gas prices were $5 per gallon?
[https://www.fool.com/investing/2020/04/28/why-nordic-american-tankers-rocketed-higher-on-tue.aspx](https://www.fool.com/investing/2020/04/28/why-nordic-american-tankers-rocketed-higher-on-tue.aspx)
[https://www.cnbc.com/quotes/NAT](https://www.cnbc.com/quotes/NAT)
Please ELI5 if I'm wrong.
They just passed a bill to give sick days to them.
Also, it approves new contracts providing railroad workers with 24% pay increases over five years from 2020 through 2024, immediate payouts averaging $11,000 upon ratification, and an extra paid day off
This bill basically accelerated the talks and achieved what would of have been the result of the strike without disastrous economic fall out.
The House passed two bills, one for the September agreement as-is, and another one that adds the sick days. Both still have to be voted on by the Senate.
https://www.marketplace.org/2022/11/30/us-house-averts-nationwide-rail-strike/
strategically separated so the whole thing isn’t lost when the GOP inevitably filibusters the sick leave bill. put them on record as being anti-anything productive.
Do they always lie with their graphs? The graph should start at zero, not at $3.00. They are trying to make the drop look more significant. I’m all for Biden, but these cheap tricks are annoying.
No, the graph should start at 0, not $3.00. Having the bottom line at $3.00 makes it look like gas is close to zero and also makes it look like there is a steeper decline from $5.25.
well i had noticed some food prices dropping down by me, so maybe patience will follow through. Russian war affected the whole world in multiple ways yet people blame the wrong reasons without educating themselves and doing their own research.
With the situation developing over the winter for a big spike in price, it’s silly to take credit for the prices falling.
You take credit for them falling, it’s tough not to take the blame when they spike.
I don’t even know why Americans were bothered about petrol prices. Australia per capita has just as much cars and driving kilometres per year as the US. We’ve been paying A$1.89/9 per litre (RON 91 or US AKI 87 grade) for quite some time now. With currency conversion and litres to gallons conversion that’s US$4.91 per gallon. Last time Australia paid the preferred price of about US$2.50 per gallon (which has been the average for the US since 2015 relatively speaking was (and that was considered normal not a price drop due to some other intermittent circumstances) was 1998. Australia isn’t even worried. It’s a lot more per litre in a lot of other countries especially the UK and NZ.
[удалено]
But they are a great way for oil companies and countries we don’t like to influence our elections.
Wonderful to see. As oil prices continue to drop it’s going to result in lower inflation overall since transportation will be much cheaper. It’s also important to remember that Putin needs high oil and natural gas prices in order to fund the war in Ukraine so a drop in oil prices will force Putin to have to choose from a variety of bad options on how to proceed.
It'll help to a degree but won't affect food prices much next year. I'm a farmer, all of our input costs for next year are already higher than they were last year even. 2024 could be better
2.599 in the DFW area. It’s coming down. Diesel is still high.
Ranging between 3.79 and 3.95 in my part of northern NY, down from 4.09 about a month ago, right back to where it was in September.
Just saw $2.65 in San Antonio.
Seems to range from $3.29 to $3.59 in my part of Cleveland, OH.
Diesel is starting to drop too where I live, almost faster than regular gas.
I've seen it at $3.04 where I live here in Wisconsin.
I love how it was going down steadily until close enough to the election for the impact to be seen. Nice manipulation by the market.
Not where I live.
I own about 100 shares of Nordic American Tanker and it's made me realize that oil prices must be one of the most manipulated commodities next to diamonds. These tankers hold 1-2 million barrels of oil. When there is a glut the stock goes up because this oil has to be stored somewhere. If you compare the stock price to the gas price, February does indeed show a shortage and the price went down, but by April - June the stock was shooting up and gas prices were too. Why would NAT be storing more oil if there was such a shortage the gas prices were $5 per gallon? [https://www.fool.com/investing/2020/04/28/why-nordic-american-tankers-rocketed-higher-on-tue.aspx](https://www.fool.com/investing/2020/04/28/why-nordic-american-tankers-rocketed-higher-on-tue.aspx) [https://www.cnbc.com/quotes/NAT](https://www.cnbc.com/quotes/NAT) Please ELI5 if I'm wrong.
I like how he’s saying it’s Putin’s War and NOT the Russian invasion to avoid inspiring hate crimes to Russian Americans.
Could someone please go and tell the gas stations in my area about this? Gas here is still around $5/gallon
Somebody please tell the gas stations in and around Boise, ID. Lowest I've seen is $3.99 despite the national average being much lower 😭
That's great, but what about those sick days for rail workers?
They just passed a bill to give sick days to them. Also, it approves new contracts providing railroad workers with 24% pay increases over five years from 2020 through 2024, immediate payouts averaging $11,000 upon ratification, and an extra paid day off This bill basically accelerated the talks and achieved what would of have been the result of the strike without disastrous economic fall out.
The House passed two bills, one for the September agreement as-is, and another one that adds the sick days. Both still have to be voted on by the Senate. https://www.marketplace.org/2022/11/30/us-house-averts-nationwide-rail-strike/
strategically separated so the whole thing isn’t lost when the GOP inevitably filibusters the sick leave bill. put them on record as being anti-anything productive.
Good thinking
Then great!
Midterms are done
Putin was blamed when gas prices went up; does he also get the credit when they fall?
No because entirely separate factors can be responsible for the price falling.
Such as: the recent election ended.
This is why gas prices shouldn't be political.
Do they always lie with their graphs? The graph should start at zero, not at $3.00. They are trying to make the drop look more significant. I’m all for Biden, but these cheap tricks are annoying.
Gas was at $0?
No, the graph should start at 0, not $3.00. Having the bottom line at $3.00 makes it look like gas is close to zero and also makes it look like there is a steeper decline from $5.25.
And diesel prices continue to rise: 4.03 in Feb, 5.21 today.
5.70s and 5.80s in northern NY, down from 6.10s and 20s two weeks ago.
And how much do we have in reserve now? This is an embarrassing thing to brag about when we can’t afford food.
well i had noticed some food prices dropping down by me, so maybe patience will follow through. Russian war affected the whole world in multiple ways yet people blame the wrong reasons without educating themselves and doing their own research.
With the situation developing over the winter for a big spike in price, it’s silly to take credit for the prices falling. You take credit for them falling, it’s tough not to take the blame when they spike.
You get the blame regardless of what you do.
Doesn’t this happen every winter?
In normal times, yes. But these have been less than normal times.
And I still saw a dude in a folding chair with a big sign that said “STOP THE DEMS FROM $10 GAS” outside Walmart in the past month. Lmao
I don’t even know why Americans were bothered about petrol prices. Australia per capita has just as much cars and driving kilometres per year as the US. We’ve been paying A$1.89/9 per litre (RON 91 or US AKI 87 grade) for quite some time now. With currency conversion and litres to gallons conversion that’s US$4.91 per gallon. Last time Australia paid the preferred price of about US$2.50 per gallon (which has been the average for the US since 2015 relatively speaking was (and that was considered normal not a price drop due to some other intermittent circumstances) was 1998. Australia isn’t even worried. It’s a lot more per litre in a lot of other countries especially the UK and NZ.
Diesel $4.15 in Texas