Originally Posted by GrouseChaser
Originally Posted by Crow hunter
Originally Posted by GrouseChaser
What I don't understand is how prices could be 25% up in the last year. Weren't they supposed to go down with our President? I mean he has opened more areas to drilling, reduced regulations, even supported starting oil exports from the U.S. so much is being produced.

Why the heck are prices going so high. Is he letting the big oil companies and refiners screw us? Did I vote for the wrong guy?


That’s what happens when people actually have jobs and have to drive to work, can take vacations, and buy goods that require transportation to market. It doesn’t take much gas to sit around your trailer waiting for your welfare check.


But you kinda miss my point... U.S. crude oil inventories are well within the 5 year average, but gasoline prices are the highest in 5 years.
See https://powerhousetl.com/eia-data/

I thought abundant oil would at least keep prices steady. Somebody is putting the screws to us consumers....


You misunderstand free market economics. Prices are set by what the market will bear, not by the cost of supplies. A King Ranch edition F350 probably costs $10K more to make than a bare bones F150 but sells for three times the price. It's because someone will pay it, not the cost of production.