Author Topic: Well, well well. What a surprise. Gas prices suddenly dropped before election (Read 481 times)

Conan The Librarian · « **on:** October 23, 2012, 05:31:52 PM »

What a surprise! Just like before the 2008 election. Gas prices dropped to the lowest price in years today, dropping about 50 cents per gallon in one day. Aint that a coinikidink! Amazing how the free market works.

bobg · « **Reply #1 on:** October 23, 2012, 11:11:12 PM »

Didn't drop that much here. $4.11 Sunday afternoon to $4.09 Monday morning.

cwlongshot · « **Reply #2 on:** October 23, 2012, 11:34:50 PM »

Same here, MAYBE a 5-6c drop..... NOT impressed...

CW

Tommyt · « **Reply #3 on:** October 24, 2012, 01:04:11 AM »

3.79 a month ago
yesterday 3.49

He wants/needs Florida

guzzijohn · « **Reply #4 on:** October 24, 2012, 02:59:59 AM »

Must need Kansas even more. Dropped from $3.79 to $3.32 to $3.39 depending on location.
GuzziJohn

Conan The Librarian · « **Reply #5 on:** October 24, 2012, 03:08:39 AM »

Lo and behold! The price of diesel is unchanged, so there's about a dollar difference in price per gallon between gas and diesel.

Old Fart · « **Reply #6 on:** October 24, 2012, 03:22:34 AM »

Our Gas here is dropping pretty good, but diesel has only dropped about .10

Anna · « **Reply #7 on:** October 24, 2012, 03:23:07 AM »

The only amazing thing about this is , that they think we are so stupid that we can't see this for what
it really is.

RevJim · « **Reply #8 on:** October 24, 2012, 03:25:10 AM »

Speculators are the driving force behind oil prices. Back in '08 there was a lot of surge for "Drill Here, Drill Now". Now that Romney is saying we will do the same, the Specualtors have to take into account the possibility of him winning. If he does win, and if he can curtail the EPA's draconian regs, convince investors its OK to drill again, and get that Keystone pipeline OKd, you'll see much lower prices. We have the resources and we can get it w/o poisoning ourselves in the process. Point is....Romney has to win for this to happen.
If Obama gets another shot, I believe we will get the next part of Jimmy Carter; 20% prime rates, and gas rationing. I was there, I lived through it. Hopefully we will not go through that again. Hopefully

oldandslow · « **Reply #9 on:** October 24, 2012, 04:23:37 AM »

Gas prices dropping? Not in my part of the world. Regular has been $3.79.9 for months and it still is. Diesel is where the drop occurred. A whopping 10 cents a gallon.

powderman · « **Reply #10 on:** October 24, 2012, 04:30:32 AM »

I wonder what kind of deals he made with his arab brothers to cut the prices?? They will surge rt after the election. POWDERMAN.

Conan The Librarian · « **Reply #11 on:** October 24, 2012, 04:35:24 AM »

I really would like to know the mechanics thinking of how this happens. I am not saying it's related to repubs or dems, but this has happened at least during the last couple of elections. Remember 2008 when in August the gas prices were as much as 4.39 in the midwest, then dropped to 1.80 just before the election and then went right back up to about 3.75 and hovered around there ever since? Is it actually a manipulation or is it related to a speculative response in the futures market that has a side effect?

Old Fart · « **Reply #12 on:** October 24, 2012, 07:49:00 AM »

Heard something yesterday on the news.
I didn't pay it much mind.
But they said something about it being seasonal blend making it drop.

Conan The Librarian · « **Reply #13 on:** October 24, 2012, 09:12:17 AM »

http://www.usatoday.com/story/news/nation/2012/10/20/gasoline-prices/1641935/

This news story says it's supply and demand, but it still seems a little fishy that supply would increase and demand would decrease enough to affect prices that sharply. Usually price changes are more gradual. This looks more like one of the price increases we see near major holiday weekends: Somebody decides that it's time to make more (or in this case less) money, and they adjust the price dramatically.

One notion I have about this is that sudden lowering of gas prices makes the big oil companies a slightly smaller target during major elections. Maybe it's a "fly under the radar" tactic.

D Fischer · « **Reply #14 on:** October 24, 2012, 09:59:56 AM »

Quote from: Anna on October 24, 2012, 03:23:07 AM

The only amazing thing about this is , that they think we are so stupid that we can't see this for what
it really is.

Sweet lady, would you be shocked to see that a whole bunch of Americans are that stupid?

Anna · « **Reply #15 on:** October 24, 2012, 12:59:10 PM »

Not really , but I do try to put my best foot forward .

Brett · « **Reply #16 on:** October 25, 2012, 07:26:15 AM »

Does this mean that the economy is slipping back into the toilet? Not that it ever really climbed out.

During one of the debates Romney mentioned that gas was a lot cheaper just prior to Obama getting into office and Obama's response was essentially gas was cheap because we were in a recession and if we want cheap gas go back to Bush's economic policies. So now that gas prices are declining it must mean that Obama's recovery has stalled right? No, I'm sure there must be another explanation.

guzzijohn · « **Reply #17 on:** October 25, 2012, 08:50:02 AM »

Republican or democrat I cannot see how a president can manipulate gas prices. Yes, maybe some policies set by the president can effect prices to some extent OVER THE LONG RUN, but not quickly changing prices in the short term. If someone here can explain how a president can manipulate short term pricing, please tell us how with documentation of course.
GuzziJohn

yellowtail3 · « **Reply #18 on:** October 25, 2012, 08:54:03 AM »

Quote from: guzzijohn on October 25, 2012, 08:50:02 AM

If someone here can explain how a president can manipulate short term pricing, please tell us how with documentation of course.
GuzziJohn

Sure he can; President Obama just calls up his bosom-buddies in the OIL & TRANSPORTATION industries, who he's been so tight with, and tells them 'since we're such great pals, do me a favor...' or something like that.

wait - you want documentation?!? That's no fun!

Conan The Librarian · « **Reply #19 on:** October 25, 2012, 09:07:36 AM »

I think it's a combination of things. There is documentation, supply and demand. The papers said so. Nevermind the highly improbable one day change that doesn't look like any other supply and demand type effect that ever occurs.