I’m asking because I honestly don’t know , or understand how it works…. But how is it that the gas pricing seems to change right along with the charge of an administration, and stays consistent during an administration. If oil companies are capitalizing now, then what we’re they doing during trumps administration?
It's a number of things. With CDC suggesting we do away with masks, I feel like everyone is returning back to work. Demand is now higher. The war is creating instability in the market and supply isn't exactly increasing in America.
It’s strange though. Gas rose quick under Obama, dropped under trump, rises as soon as Biden comes in. I know it’s said they have nothing to do with it, but the rise and falls coincide with new administrations
Wasn’t a theory , really. It’s an observation. Prices were high during Obama, low during trump, and immediately jumped for Biden.
that’s inaccurate. Well, it’s putting things together that have nothing to do with one another. like saying “just an observation but gas prices are high when the Rams win the SB, and low when the Patriots do. “
I dont know about gas prices but the inflation we are seeing, we would have seen if Trump was president. Maybe not as bad, but it would still be pretty bad. Trump dodged a bullet by losing the election. I was pretty vocal saying a crisis was coming by 2024 so if he had won, he would have probably had one of the worst financial crises in history under his term. Instead he lost, now Biden will go down with the ship........
It’s accurate, whether it has anything to do with it or not, that was my question. I’m very curious how the nature of the oil markets change like clockwork for these administrations, but yet it has nothing to do with it. I’m not saying it does, but it’s peculiar.
It's not though. Gas prices originally plummeted when Obama became president. By the time Trump became president, gas prices were already dropping, then steadily rose again during his tenure. And the one dip in prices during Trump's presidency was due to a huge decrease in demand due to covid, not due to any of his policies.
It is not accurate. Its also a flawed lens of the world you live in. They are paying high oil & gas prices in Europe, In Japan, in Australia, they didn't just change presidents, how do we explain this? oh wait we dont. because they have nothing to do with one another
Ok. No need to get upset . … I’m sure you payed more under Obama than you did during trump, and are paying more under Biden than you did under trump. Simply. I asked a question. As Soxxx said, it could just be that Biden fell into something that was already gonna happen. I was just asking.
In reality the President doesn't directly influence inflation. However, that's a bit of an oversimplification. The President does appoint members of the Fed including the Chairman. The Fed currently employs about 10 Democratic economists for every 1 Republican one. There's also the factor that no President wants the markets to fall during his tenure because it's terrible for reelection, so there's a lot of implicit pressuring of the Fed to be dovish with monetary policy. Now, Presidents don't want rampant inflation either because then poor people won't vote for them. Inflation is generally good for markets, which rich people on the other hand like since they have most of their net worth in assets rather than dollars. The President/Fed want to please their rich donors (rich people also vote at higher rates) while not totally alienating poor people (there are a lot more poor people/more potential votes). The President and the Fed absolutely consider the wants of these two main groups when dictating monetary policy and how it will impact their votes come election time. There's also the factor that markets are forward-looking and Republicans are generally more in favor of policies that would result in a higher supply of oil in the immediate future. If oil companies are bullish on the supply of oil they'll have in the future they're more willing to sell at lower prices. If they fear they'll be able to produce less in the future, they're more likely to charge more in the present to ward against lost profits in the future. TL;DR - it's complicated.
Correct: Complicated, confusing, politically motivated, & disingenuous TLDR: Buy Bitcoin and exit the legacy financial system
The way that we now live as a society also likely influences the price of gas. Why would people go to the store for paper towels when they can order it for next day delivery on Prime? Pickup dinner or order in and have it delivered? Wal-mart also uses DoorDash and such to rival Prime. There’s a ton of overhead. My companies prices are going up astronomically on product and a big part of it is how much freight has gone up both domestically and internationally due to the energy price hikes. It’s a lot more expensive for trucks to fuel up than sedans.
