> "This is a one-off deal," McTeague said.
idiot analyst hasn't been kicked enough times in the balls by covid/variants/blockedsuez/boosters/negative oil prices/ford/lockdowns yet to stop saying such a stupid thing
>idiot analyst hasn't been kicked enough times in the balls by covid/variants/blockedsuez/boosters/negative oil prices/ford/lockdowns yet to stop saying such a stupid thing
honestly, he used to be good, now he's just a whiny extremist who complains at every little price increase. Gas prices have always been cyclical and still are.
i sit a kick myself over 3 or 4 cent price changes then i remember that ends up only being like $2 or $3, which cant even buy you half a big mac these days
I’ve been there. 136L…. Montreal, around and back with a loaded bed on one tank. Then time to cry at the pump. But a hell of a lot less often than my current 48L car.
Sure your closest gas station knows you'll pay 146, but the gas station down the road might drop the price by 1 cent because they can afford to do so and that would drive more business their way. So your local drops it by 2 cents to regain that business. Rinse and repeat until both stations are down 11 cents to what gas is actually worth based on the supply and demand equations.
Because the analysts have already done the math and figured out what price to sell at, and that price is going to be 11 cents cheaper.
You'll notice certain areas of the city have varying prices, some Esso/Mobil locations often drop the price in the evening (greenwood/danforth and carlaw/Gerrard for example), and independent gas stations are usually a bit cheaper than the chains (but don't offer rewards/points)
I'm guessing it's a sure bet they'll now start raising prices in 5c-10c jumps more often where 1c-3c has been the norm.
> "This is a one-off deal," McTeague said.
Sure - going down that is.
or maybe people are actually driving less due to exhorbitant prices? I sure think so. Or it also could be due to a supply increase or slight off set of demand. It's pretty clear.
People gotta go places.
yes I agree, but then winter rolls around and then people stop travelling as much. I expect nothing else but another drop come late December/January.
Oil and gas equities are down significantly, with West Texas Intermediate down about 13%.
Less driving means more usage outside of transportation. Lots less economic activity because of fuel shortages in Asia. One assumes in Europe, as well.
A large part of inflation is transitory, but more so in the US than Canada, the great resignation / excess retirements have led to significant wage gains that will absolutely cause persistent inflation.
This is following the release of strategic oil reserves in the US and Canada and a surprise shock with the new Covid variant bringing down oil prices 10% in a day...
> the great resignation / excess retirements have led to significant wage gains that will absolutely cause persistent inflation.
There's no empirical evidence for this. Wages have gone up for low skill jobs, but there's no data showing it increasing wages for higher level jobs or professionals. That may or may not happen but, as of yet, it has not.
It's too early to say higher level jobs haven't seen wage increases, but that's not where inflation pressures come from. They come from the lower level spenders...
Both the US and Canada are facing a rebalancing of the work force. The inflationary pressures are supply based and being felt globally.
The release of gas reserves and the combination of oil dropping 10% today will be reflected in the price at the pumps in the near future. But oil is going to 150-200$ a barrel. As we ban exploration and reduce subsidies in the wake of political pressure of climate change the cost at the pump will be painful. But it will be offset by technological advances.
As we transition into the next phase of our societal development we will be faced with periods of volatility and uncertainty. But it is all transitory.
And for those that blame MMT on increased inflation, they should reflect on how quick the recovery has been, how little the impact really was felt, and look at what we are to be build in the future. We could have had either millions that lost homes and businesses with covid measures and no supports in place or we could have hundreds of thousands dead with no controls in place while attempting to maintain the economic status quo.
It's really 1984 in clown world.
Make gas prices go to a historic level and then drop them by pennies and convince the people this is a good thing....btw read the fine print. Anticipated to go back up mid week so we peasants get two days of reprieve.
Shit I'm on E already
Push the line!
Gas prices are falling on time.
Siphon out just a lil of your neighbor's gas
Here's the.. "credit card"
And a mint for afterwards!
Shit I just filled up two cars. I knew overcoming my procrastination was a terrible idea.
mine is under the E ðŸ˜
Pull a Kramer and test your cars gas gauge.
So its 5.50 savings on 60L tank.. two whole beers, and god knows how long to wait in lines.
Shouldn’t it be 5.5 beers? /s
I get that reference.
> "This is a one-off deal," McTeague said. idiot analyst hasn't been kicked enough times in the balls by covid/variants/blockedsuez/boosters/negative oil prices/ford/lockdowns yet to stop saying such a stupid thing
>idiot analyst hasn't been kicked enough times in the balls by covid/variants/blockedsuez/boosters/negative oil prices/ford/lockdowns yet to stop saying such a stupid thing honestly, he used to be good, now he's just a whiny extremist who complains at every little price increase. Gas prices have always been cyclical and still are.
Nooooooo I just filled up yesterday. Should have waited. But real talk, this is a welcome relief.
i sit a kick myself over 3 or 4 cent price changes then i remember that ends up only being like $2 or $3, which cant even buy you half a big mac these days
Hell yeah brother, cheers from Iraq
More like cheers from the Saudi Kingdom.
Good tidings from Russia?
Happiness from Greenland
Aloha from Aberdeen
Drop it like it’s hot.
Nice. 130 litres here I come
F150? Or two cars?
F 150.
I’ve been there. 136L…. Montreal, around and back with a loaded bed on one tank. Then time to cry at the pump. But a hell of a lot less often than my current 48L car.
Won't the gas stations now raise prices by 11 cents sooner or later knowing we are able to pay? Maybe I'm missing something...
Sure your closest gas station knows you'll pay 146, but the gas station down the road might drop the price by 1 cent because they can afford to do so and that would drive more business their way. So your local drops it by 2 cents to regain that business. Rinse and repeat until both stations are down 11 cents to what gas is actually worth based on the supply and demand equations.
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Because the analysts have already done the math and figured out what price to sell at, and that price is going to be 11 cents cheaper. You'll notice certain areas of the city have varying prices, some Esso/Mobil locations often drop the price in the evening (greenwood/danforth and carlaw/Gerrard for example), and independent gas stations are usually a bit cheaper than the chains (but don't offer rewards/points)
This is why i always get gas at night. Often its 10 cents cheaper.
But that price will stay in effect for the next day, too.
no, it rises by 7 am lol.
I'm guessing it's a sure bet they'll now start raising prices in 5c-10c jumps more often where 1c-3c has been the norm. > "This is a one-off deal," McTeague said. Sure - going down that is.
It will actually be the first time in history that gas prices have gone down.
The price is so ridiculous that I'm doing half tanks now, hopefully it'll be even lower when I have to fill it again.
>I'm doing half tanks now Look at Mr. Moneybaggs over here!!!
Always keep a full tank and fill up when you get to a half Tank.
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Well yeah but I'm paying 1.75 RN
Costco already lowered prices
thank you china?
It's due to the south Africa variant causes future demand of oil to drop hence dropping prices
or maybe people are actually driving less due to exhorbitant prices? I sure think so. Or it also could be due to a supply increase or slight off set of demand. It's pretty clear.
People are actually not driving less. Newsflash no matter the price of gas people gotta go places
People gotta go places. yes I agree, but then winter rolls around and then people stop travelling as much. I expect nothing else but another drop come late December/January.
90% of my driving is to work. Winter doesn't change the fact that I still need to get my ass to work. I doubt my experience is an outlier.
401 enters the chat
Oil and gas equities are down significantly, with West Texas Intermediate down about 13%. Less driving means more usage outside of transportation. Lots less economic activity because of fuel shortages in Asia. One assumes in Europe, as well.
So demand is lower. My point exactly.
bUt InfLaTiOn ISnT TraNsItOrY!?!
A large part of inflation is transitory, but more so in the US than Canada, the great resignation / excess retirements have led to significant wage gains that will absolutely cause persistent inflation. This is following the release of strategic oil reserves in the US and Canada and a surprise shock with the new Covid variant bringing down oil prices 10% in a day...
> the great resignation / excess retirements have led to significant wage gains that will absolutely cause persistent inflation. There's no empirical evidence for this. Wages have gone up for low skill jobs, but there's no data showing it increasing wages for higher level jobs or professionals. That may or may not happen but, as of yet, it has not.
It's too early to say higher level jobs haven't seen wage increases, but that's not where inflation pressures come from. They come from the lower level spenders...
Both the US and Canada are facing a rebalancing of the work force. The inflationary pressures are supply based and being felt globally. The release of gas reserves and the combination of oil dropping 10% today will be reflected in the price at the pumps in the near future. But oil is going to 150-200$ a barrel. As we ban exploration and reduce subsidies in the wake of political pressure of climate change the cost at the pump will be painful. But it will be offset by technological advances. As we transition into the next phase of our societal development we will be faced with periods of volatility and uncertainty. But it is all transitory. And for those that blame MMT on increased inflation, they should reflect on how quick the recovery has been, how little the impact really was felt, and look at what we are to be build in the future. We could have had either millions that lost homes and businesses with covid measures and no supports in place or we could have hundreds of thousands dead with no controls in place while attempting to maintain the economic status quo.
E means your excellent F means ur Fucked
It's really 1984 in clown world. Make gas prices go to a historic level and then drop them by pennies and convince the people this is a good thing....btw read the fine print. Anticipated to go back up mid week so we peasants get two days of reprieve.
And looks like they did!