Quote:
Originally Posted by tophcfa
Inflation decline???? , and filled up the oil tank. Inflation appears to be accelerating, not declining. .
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Perception, confirmation bias, media frenzy all play a role in what you think is happening vs what is really happening. I chose to show you oil prices as it is cut and dry. This is the straight forward chart of crude oil price per barrel for West Texas Intermediate. Note that the present day, Nov 7 it is at 80.85
That is the same as in Nov 2021, the same as Nov 2014. Now in Nov 2014 it was a huge drop from a high of over 120 in 2011.
If you are interested in more facts
, US oil production in the most recent week was the highest ever. You read that right. The US in producing more oil now than at any previous time.
I also show you the chart of Florida gasoline prices. The price per gallon is in Oct 2023 a whopping 10 cents higher than Oct 2021. It will be lower once the November data is released. Yet somehow many people believe fuel prices are racing upward.