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[PseudoKirby]

I was looking at old gas receipts and was amazed to see in Nov 2008 I was paying 1.99/gal for 91, then

Spoiler

Obama got elected

and a just year later it was over $4.

Well in July 2008 you forgot that gas was basically $5 a gallon.. it was dropped because of the election, Republicans wanted re-election.

 

[Bubble Metropolis]

Well in July 2008 you forgot that gas was basically $5 a gallon.. it was dropped because of the election, Republicans wanted re-election.

Absolutely. Gas was at its all-time highest in the United States the summer before that election.

Chart

The sudden, huge jump in the March of 2008 and the nosedive after the November elections of that year are pretty interesting.

 

[Bam Bam Baklava]

Well in July 2008 you forgot that gas was basically $5 a gallon.. it was dropped because of the election, Republicans wanted re-election.

Absolutely. Gas was at its all-time highest in the United States the summer before that election.

Chart

The sudden, huge jump in the March of 2008 and the nosedive after the November elections of that year are pretty interesting.

Wow talk about not having a clue at all.

 

[MidnightScott]

Good but the companies will find a way to raise it. It was under 3.00 for over 2 months but on Christmas day it went to about 3.10

It certainly helps being lower only paying $32 for a tank is a bargain compared to the almost $50 I was paying the past few years.

 

[Colonel Mustard]

This is what I saw about a week ago. It's now back up about 50¢/gal. It was nice while it lasted...

 

[beast786]

Price of gas comparison country

http://www.nationmaster.com/graph/ene_gas_pri-energy-gasoline-prices

 

[Something Wicked]

Absolutely. Gas was at its all-time highest in the United States the summer before that election.

Chart

The sudden, huge jump in the March of 2008 and the nosedive after the November elections of that year are pretty interesting.

The drop in gas/oil prices in 2008 was due to investment banks and hedge funds selling their oil shares, in order to make profit or mitigate losses for the year after realizing how large the losses from Mortgage Backed Securities and other housing related investments would be. Basically, the housing bubble popping and the subsequent sharp recession caused gas prices to free-fall.

 

[killer rin]

So gaf, with gas prices the way they are, how long before people either start revolting or start buying electric cars

 

[painey]

considering how cheap it is in the USA, a long time.

 

[Wthermans]

So gaf, with gas prices the way they are, how long before people either start revolting or start buying electric cars

Hopefully soon more people will switch to Hybrids and Electrics. I recently bought a Prius and it's the best car I've ever owned. I'd take a fully loaded Prius Trim Four/Five over my 2005 STi any day.

 

[Skel1ingt0n]

Still boggles my mind how people don't see this pattern over and over again.

Summer time? Gas goes up.
Winter time? Gas stagnates.
Christmas season? People need money for gifts and the economy; gas goes down.
Election coming up? Gas goes down heavily, as the incumbent wants re-election.
New year? Holiday shopping season is over, gas begins to crawl back upward.

My ex hated that I believed this - she, like many others, believed it was all based on futures, supply/demand, that BS "summer blend" line, etc. Sure, that all certainly has a large stake in gas prices; but I refuse to believe a small group of people don't pull strings to get gas prices exactly where they need to be for that particular time period. So, anyhoo, two years ago, I made 10 predictions with her of when gas would go up, and when it would go down - this holiday were my last two. I said they would go down drastically leading the election and then following into the Christmas holiday, and then they would very slowly turn around at the turn of the year and work their way up. If they do go up for the next couple weeks, I was right 10/10 times. /brag

 

[Bubble Metropolis]

Still boggles my mind how people don't see this pattern over and over again.

Summer time? Gas goes up.

Not that everything you said isn't generally true, as I believe those are pretty good rules, but gas tanked here in June and July, to about $3.25/gallon (I remember this number specifically due to my amazement).

It appears that was a common trend throughout the country this summer.

I couldn't understand what precipitated that decline. As I recall, it was in the middle of the talk of Iran clamping down on the Strait of Hormuz, but I would think talk like that would have a contrary effect.

The drop in gas/oil prices in 2008 was due to investment banks and hedge funds selling their oil shares, in order to make profit or mitigate losses for the year after realizing how large the losses from Mortgage Backed Securities and other housing related investments would be. Basically, the housing bubble popping and the subsequent sharp recession caused gas prices to free-fall.

Thanks for breaking that down. I didn't pay attention to this sort of thing back then.

 

[Zaraki_Kenpachi]

Price of gas comparison country

http://www.nationmaster.com/graph/ene_gas_pri-energy-gasoline-prices

Is this post supposed to have a point?

 

[Skel1ingt0n]

Not that everything you said isn't generally true, as I believe those are pretty good rules, but gas tanked here in June and July, to about $3.25/gallon (I remember this number specifically due to my amazement).

Oh yeah, I agree - they're not 100% on the money all the time; but as a general guide, they're safe bets. I think when the economy is doing well, gas goes up during Memorial and 4th of July - as they want to cash in on all that travel gas money. But when the economy isn't so hot, like as of recent, gas goes down to get people to travel at all. Just my thoughts - and again, seems like a somewhat regular occurrence.

 

[Bam Bam Baklava]

Oh yeah, I agree - they're not 100% on the money all the time; but as a general guide, they're safe bets. I think when the economy is doing well, gas goes up during Memorial and 4th of July - as they want to cash in on all that travel gas money. But when the economy isn't so hot, like as of recent, gas goes down to get people to travel at all. Just my thoughts - and again, seems like a somewhat regular occurrence.

All you're doing is explaining how the market works. What do you think the speculators do?

It's like you're describing how the sun seems to come up at the same time every day and goes down at the same time every day. It might be a revelation to you but it's been well documented.

 

[The Power Of Snap]

So gaf, with gas prices the way they are, how long before people either start revolting or start buying electric cars

How about never?

We pay twice the price here and people are still driving huge trucks.

 

[Skel1ingt0n]

All you're doing is explaining how the market works. What do you think the speculators do?

It's like you're describing how the sun seems to come up at the same time every day and goes down at the same time every day. It might be a revelation to you but it's been well documented.

Then you admit it's bullshit - gas shouldn't artificially lower in price because it's "travel season" or because "people need to buy gifts" or because "there's an election coming up." On the flip side, gas shouldn't be more expensive other times for just as arbitrary reasons - especially when the increase can be as much as nearly 100%. And ultimately, that's my argument - not that a pattern is there, but that a pattern *shouldn't* be there.

 

[Bam Bam Baklava]

Then you admit it's bullshit - gas shouldn't artificially lower in price because it's "travel season" or because "people need to buy gifts" or because "there's an election coming up." And ultimately, that's my argument - not that a pattern is there, but that a pattern *shouldn't* be there.

Yeah it's bullshit but all speculative markets are bullshit. They're trying to predict something before it happens to make money. The election factor isn't true but travel season and stuff like that is true.