Quote:
Originally Posted by Rainger99
Just came across two gas receipts-one was from 11/9/20-exactly a year ago. The price was $2.20 The second receipt is from 1/22/21. The price was $2.36. Last week it was $3.25. Up 48% in the past year and 38% since January. Glad I am getting about 50 mpg with the golf cart!!
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The prices a year ago were artificially depressed because of fewer people driving during the pandemic. The prices were so low that a lot of shale oil producers shut up shop because they weren’t making a profit. Then that pipeline was hacked, and there was massive flooding near Houston and in Louisiana that interfered with refineries and with pipelines and trucking, and people began driving again, so prices went up. That’s how petroleum prices work. They have been much higher in the past (see charts), and they will be much higher in the future (see Europe). I drive a Prius, so my monthly cost for gas has only gone from $25 to $35. No big deal.