Posted on 09/27/2018 7:05:17 AM PDT by xzins
2009 = $2.35
2010 = $2.78
2011 = $3.52
2012 = $3.62
2013 = $3.51
2014 = $3.36
2015 = $2.43
2016 = $2.14
Avg. = $2.96
https://www.statista.com/statistics/204740/retail-price-of-gasoline-in-the-united-states-since-1990/
Gas prices hit highest Average ever in 2012
https://money.cnn.com/2012/12/31/news/economy/gas-prices/index.html
Many are suggesting that Trump has higher gasoline prices than Obama. Not so. Not even close
This is a good start at referential comparison. However, for any true comparison, taxes must be stripped from the price as they tend to fluctuate and can give an artificiality to the sampling.
Only if you’re looking at base gasoline price. The prices state by state might change if they change their tax rates on gasoline over those years, but the price out of the consumer’s pocket would be more and not less for most states. Seldom do states lower taxes. So that would also be in Trump’s favor.
Obama’s actions had some impact on gas prices, as do some of Trump’s actions today, but oil is a global commondity with global markets and dozens of non-U.S. actions impacting retail available supply and demand, so at no time was Obama nor is Trump the only factors in retail gas prices.
Just look at this chart and compare 2017-2018 gasoline price increase in selected countries. No “Trump affect” there, in fact the U.S. consumer is seeing prices up more than are consumers in Japan (they have no oil), Germany, France, the U.K. and others. Our increased domestic supply is either not being used domestically, or our increased production is costlier to produce than what the Saudis and others can do, or our oil companies are taking advantage of us. Which is it?
https://www.statista.com/statistics/262745/change-of-gasoline-price-in-selected-countries/
And just look at this chart for Germany back to 2010. It is not all that different than the chart for the U.S. since 2008. If that similarity tells you nothing about the huge impact that global supply demand factors have on the retail price of oil, then nothing will and you will continue to believe the myth that American presidential actions are 100% of how U.S. domestic gas markets behave.
I listened to T Boone Pickens interviewed back about the time of the election, and it was fascinating. He clearly stated that Saudi was dramatically lowering prices in order to run Ameeican frackers out of business. It was a classic monopoly move. Undersell your opponents until they are destroyed and then raise your prices later to regain any losses. Saudi relented about a year ago and prices started rising again.
So, those low prices had been Saudi created and not because of Obama. They had been against frackers who Obama wanted to kill with the EPA, so he didn’t fight for American producers.
Saudi largely failed because efficiencies were found and they found ways to make money at lower prices. That should take prices back to about the $3 mark they were at before Saudi’s failed attack on the frackers.
I disagree with nothing you said.
It - oil - is a global commodity with huge global markets and many players and factors that are out of range of whatever actions American presidents may take. That is not saying some of those actions cannot be bad or wrong. It is only saying those actions, and even good ones, can be outweighed by other factors in the global oil market.
When gas was $4/gallon, many American families struggled mightily. Price is better now, of course, but still puts a strain on family budgets when so much involves car travel—work, school, children’s sports & activities, visiting relatives out of town, etc.
The price affects not just a few thousand but millions of people in this country. President Trump is right... the price of gas needs to come down.
“The price affects not just a few thousand but millions of people in this country. President Trump is right... the price of gas needs to come down.”
https://taxfoundation.org/state-gasoline-tax-rates-2017/
But all the high ones were Bush fault. /s
Yes, gas is taxed. All the more reason families need the price to come down.
Frackers from America brought the price of gasoline during Obama’s time down from $4 a gallon to $3 a gallon and less. Saudi decided to run them out of business at that point because they were hoping to get the price up well above $4 a gallon. They were furious.
Saudi then drove the price down to $2 agallon because they knew frackers needed about $3 a gallon to be profitable.
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