I posted the other day about gas by me going

[kacekwl]

from 4.85 to 5.50 per gallon overnight. Now about a week later just went up this afternoon to 5.89 per gallon. That's 1.00 dollars a gallon in a couple of weeks. Now have we gone to war somewhere I don't know about ? Have all the refineries in America shut down ? What the ever loving fuck is going on ? How can they get away with this ? Is anyone going to stop this outright gouging ?

[FoxNewsSucks]

1. THere's only a handful of oil companies

What are we gonna do, go to the station across the street? They're just as high.

They do it because they can.

[Dave says]

12. Monopoly capital extracting their rents

Time to break up some of these companies. Well past time to end their opulent tax breaks. Now!

[bucolic_frolic]

2. Maybe your state AG will look into it /nt

[Novara]

3. Oil companies are purely price-gouging. And all republicans voted against a bill ...

... that would have made them stop gouging the public.

Blame the greedy oil companies and the republicans who've been bought by the greedy oil companies.

I am kicking myself for not filling up Monday, when it was less than it is now.

[inthewind21]

4. What exactly

do you suggest? No, all the refineries have not shut down. No we have not gone to war anywhere. What is going on, capitalism run amok. Isn't it glorious! Know how to lower the price of gas? Stop using it. Supply and demand.

[kairos12]

6. Nope. Won't work.

Petro companies would claim a refinery "emergency" and tighten the supplies. Or a broken pipeline. Or martians landed. Whatever.

Petro thieves.

[Bayard]

5. And yet, we continue to subsidize these poor companies

"The US government has subsidized coal, oil, and gas for decades, despite the fact that a majority of voters want to end fossil fuel subsidies. Currently, experts estimate that direct subsidies to the fossil fuel industry total around $20 billion every year, $15 billion of that from the federal government. Indirect subsidies — policies that aren’t targeted at fossil fuel corporations specifically but still benefit them — total a whopping $649 billion per year in the US alone."

https://www.greenpeace.org/usa/fighting-climate-chaos/everything-you-need-to-know-about-fossil-fuel-subsidies/

[Beachnutt]

7. Buy an EV

and flip off the oil companies...

[Meadowoak]

19. If you have good credit, you can make payments on an EV with

The money you would have spent on gas. And don't forget the tax credit for buying an EV.

[ripcord]

8. I heard some people talking at Costco

The lady said the government should know all about price gouging since we are paying $1.18 cents a gallon in taxes.

[maxsolomon]

9. She doesn't like paved roads?

Gas Taxes subsidize driving.

[TheRealNorth]

15. It wouldn't make a difference

In a market where the price point is being driven by scarcity, the price is going to be the whatever price point that the supply vs demand curve meets.

Cutting the gas tax will only increase the oil companies' profits.

[PXR-5]

10. TFG and I think even Biden

approved drilling permits, so why aren't they Drill Baby Drilling?

Hey at least the oil company stocks are surging!

[maxsolomon]

11. RBOB is a traded commodity.

reformulated gasoline before oxygenate blending. It is trading at $4.04/gallon today.

Old article, but here is the crux:

RBOB is the only gasoline commodity that has markets for both futures and options contracts. Because this is a physically-settled contract there is usually a strong relationship between the RBOB futures price and the spot market price.

Over the past several years, the realized U.S. regular gasoline retail price (the pump price) averaged about 70 cents per gallon higher than the RBOB futures contract price.

https://www.eurasiareview.com/12052011-relationship-between-retail-gas-prices-and-nymex-rbob-futures-analysis/#:~:text=Because%20this%20is%20a%20physically,the%20RBOB%20futures%20contract%20price.

[in2herbs]

13. This afternoon I watched a poli-ad by Mark Kelly who is proud of his work to reduce/suspend the

federal gas tax by $0.18/gallon. This made me mad! That reduction means the income of the fed govt will go down but not the income of the corporations -- the one's who are gouging us at the pumps.

The burden of making up the deficit will fall to the middle and lower class to make up for the deficit caused by the reduction/suspension in federal gas taxes.

[beaglelover]

14. It's pretty common to see gas for over $7 a gallon here in Los Angeles.

Glad I got a Tesla in 2020. But I do feel very badly for those who are living paycheck to paycheck trying to survive in today's economy.

[Just A Box Of Rain]

18. A war somewhere you don't know about?

I'd really suggest you become more informed as we are facing the greatest challenge to world order since WWII and we need to help defeat Putin.

There are people making much greater sacrifices than we are.

[kacekwl]

21. I suggest you go back and actually

read my post. If you still want to reply the way you did then fine. What you said has absolutely nothing to do with the original post.

[Just A Box Of Rain]

22. You wrote: Now have we gone to war somewhere I don't know about ?

And then never acknowledged the role of Vladimir Putin's genocidal war on Ukraine, which is where the blame lies.

Instead you pass rising gas prices off as an example of price gouging.

This is on Putin. We should be clear about that.