Price of GAS

Sadly it was a news blurb on CBS in the 7am hour. I have been unable to locate a reference.
Fuzzy posted much better data which I see you have already seen.

This is pretty much spot-on for us as well. For the public as a whole? Apparently not.

I absolutely agree! People are complaining more, and politicians are trying to make hay out of it.
But while people complain about it, and do indeed have less disposable income as a result, they don't seem to be taking measures to decrease the amount of gas they buy.

This is, of course, as a whole. Some individuals are, but apparently not enough to make an impact.

 

For many who can control their travel the gas price increase can be coped with. Retirees, individuals who live close to work, individuals who have disposable income can manage or afford the increase.

People who are commuting to work and on the razor edge of providing for their families are the ones who are having the tough times. Truck drivers at the lower end of pay scale trying to make a living will be suffering mightily. Individuals living in the suburbs who have found a dream job long way from their home in an upscale area, a person in the inner city who must travel a long way to get to work in a new factory with no public transportation available for the trip will all be going through tough times right now

I think it is a little like rising taxes. The wealthy and those of means have accountants and have anticipated new tax laws and higher taxes proactively exempting themselves from these laws full effects before the laws are even enacted. People on the lower end of the financial spectrum without the knowledge, ability or means to hire accounts and CPA's to plan ahead and anticipate changes are the ones who suffer the most under rising taxes.

 

a simple tax credit based on income would solve it. i don't feel bad for gig workers putting a hundred k on their car every year

 

Absolutely! Climate change disasters, food shortages, local pollution also disproportionately impact the poor.
But in this case, the population as a whole, don’t seem to be taking what steps can be taken to lower their fuel costs.

The biggest question would be if, as someone else already asked, are people driving more efficient vehicles.
To test that, we could take a look at gasoline retail sales data??

 

'exxon stock hits all time high'

 

Didn't I see them in another thread?

Hmmmmmm......I'm sure I did......

Oh.
Yeah, that's right!!!!

S&P 500 ESG (Environmental, Social, and Governance) Index | PriusChat

 

snake oil salesmen

 

in other news:

40218747

maybe they'll actually go about it the 'right' way

 

"You say we're on the brink of destruction and you're right. But it's only on the brink that people find the will to change. Only at the precipice do we evolve." - The Day the Earth Stood Still (2008)

Unfortunately we have to go through it for things to get better. We get mass fuel efficient car sales due to fuel crisses. The minute fuel prices drop, everybody buys a TANK. At least the lower income households tend to benefit from more fuel efficient cars being available, and also tend to stay in fuel efficient cars since they know how badly gas price volatility can impact them.

 

Brilliant!
Stop maintaining roads!!!
.....because it's SOOO much more "efficient" to wait until repairs are necessary, perhaps?

That's everything you need to know about government problem solving....

The relatively well-to-do trying to speak for or to "the lower income households" is like watching someone trying to complete a complex project reading transliterated assembly instructions. I'm not sure what "more efficient" cars are actually available in today's market, because the last time I looked there were not very many cars available AT ALL....efficient, affordable, or otherwise.
The "poor" people in my town are all driving the "tanks" that everybody traded out when gas went north of $2 a gallon.

Poor people have poor options, but that does not always mean that they have poor intelligence, and fortunately we still let them vote in this country.
What 'those' people in the "lower income households" that I talk to see is that EVERYBODY gets stuff delivered.....either to their house in individually boxed Amazon packages, Door-dash meals, and Target merch - or it gets delivered to stores (by truck) and that high gas prices lead to high everything else prices.
We're not using less fuel (according to "experts") probably because the attending inflation-stagflation hasn't kicked in yet, but this period of super high gas prices WILL be followed by lower gas prices.

One way or another, they usually are!

 

Rising gas prices: $8.05 for a gallon at an L.A. station - Los Angeles Times

Are you sure?

Based on the traffic this morning, the number of single occupants in lumbering SUV (including yours truly, at least it's a hybrid ) an open HOV lane, and the haze in the horizon, I don't think $8.35 will cut it. Maybe $10?

 

no, i'm not sure anything can stop ignorant, lazy humans from killing themselves and others. or governments ability to save them from themselves.
only time will tell

 

I'm not speaking for anybody, or trying to, I am stating the reality that there are more fuel efficeint used cars as a result. Lower income people have more options available today and in the future. There was a large shift from V8's and Amercian landyachts to used Honda Accord and Civics in lower income areas, and there will be another shift to used hybrids that we will see now, and another shift to used EVs in the future.

 

all income levels can afford to buy a fuel efficient car when gas prices are low, but guess what?

 

That's because exxon is lousy stock performer worse than Chevron who hit highs months ago, thanks in part to Warren Buffet buying up Chevron (and Oxy)

 

i don't think that's the reason. first of all, exxon is a great dividend stock, secondly, it hit an all time high because wall street sees high profitability for the company in the current environment.

 

So what I bought:

• 2019 - Tesla Model 3 Std Rng Plus, my car
• 2017 - Toyota Prius Prime later traded in for Tesla
• 2016 - BMW i3-REx my SO's car

Bob Wilson

 

So what I bought:

• 2019 - Tesla Model 3 Std Rng Plus, my car
• 2017 - Toyota Prius Prime later traded in for Tesla
• 2016 - BMW i3-REx my SO's car

Bob Wilson

 

honda fit

 

I wanted to visualize our automobile miles driven and gasoline usage for our household over the years. I have been keeping detailed driving records and fuel usage over the last ten years since my first purchase of a hybrid vehicle (used 2008 Honda Civic Hybrid). It was not hard to compile the data from two cars and tally the miles driven and total gallons of gas used for both cars each year.

I used an estimate for the year 2022 based on the usage so far. It is clear that our milage has come down dramatically after the pandemic restriction. And gasoline usage has been reduced even more. Note that we always had two vehicles, one fuel-efficient sedan (HCH, Gen3 Prius, or PP), and another larger people/cargo hauler (Sienna minivan or Pathfinder Hybrid SUV) except for the entire year of 2018 when we only had a PP to cover all our driving needs.

Based on the projection for the year 2022, even if the gas prices go up to $6/gal compared to the ~$3/gal average historical gas price for the last ten years. I will be spending less on the gasoline for an entire year for our household of two cars (projection for annual gas consumption of 144 gal or $866 at $6/gal) than I did for the pre-pandemic period (average annual gas consumption of 431 gal or $1295 at $3/gal).

Yeah, this number does not include electricity usage for my PP, but as far as the gas price goes, I think we are doing OK with the current gas price hike.