How come we haven't talked about gas prices? [Admin Warning: NO POLITICS]

[Bronclahoma]

Gas prices are the most obvious and arguably painful purchase for consumers in this inflationary period. They especially bother my wife, she thinks we should cancel any road trips for this year. Maybe my explanation to her will help others feel a little better about this politically induced gas hike that has rippled through our economy.

I pointed out that we drive our BS about 15,000 miles per year. If we get 24 mpg, we buy 625 gallons annually. At a buck a gallon higher, that is only $625. Most people have this much slack in their annual budget. I grocery shop, so I'm acutely aware that everything we buy is costing more and that compounds the situation. But, at least it made the wife feel better. I'm old enough to remember the similar economy of Jimmy Carter. Not only were gas prices high, but there was no gas to buy. The thing that bugs me most about high energy prices is that this is so unnecessary and raises the cost of everything else we buy.

So we booked a beach house on the Texas Coast at the peak of the neotropical bird migration and invited our grandson in Houston to come down.

Currently paying $3.77 in Norman OK. Your thoughts?

Sponsored

 

[SC21]

not much to say, ride it out. Currently at $4.59 / gal. It will probably impact out travel plans some with our F350 duallie V10 / truck camper at 6-8 mpg.

 

[Bronclahoma]

not much to say, ride it out. Currently at $4.59 / gal. It will probably impact out travel plans some with our F350 duallie V10 / truck camper at 6-8 mpg.

Ouch! Is that about a buck more than you were paying last year?

 

[Major Kong]

How come we haven't talked about gas prices?

Handwriting is on the wall
Not hard to see where this is leading to

• Hard push for EV's
• Saudi's yeet petrodollar for yuan
• current inflation rate
• projected inflation rate

 

[SC21]

Ouch! Is that about a buck more than you were paying last year?

IIRC, over a buck more. I'm thinking < $3.40, but I usually don't take notice.

 

[Bronclahoma]

I'm thinking the high gas prices may influence some folks to buy a BS rather than a Bronco.

 

[Ponyrider]

Everything cycles around. Always changing. As someone else said, just ride it out.

 

[thekingprawn]

There's already signs it's coming down.
(1) Patrick De Haan ? on Twitter: "Oil collapsing again this morning: WTI $94, down $8 RBOB down 22c/gal It’s only time before we sink back under $4/gal average as long as these levels hold." / Twitter

 

[Major Kong]

I'm thinking the high gas prices may influence some folks to buy a BS rather than a Bronco.

I started out with a Bronco order not realizing the ongoing production delays.
The order is still in place.
Dealer price lock was not going to hold after 2022.

Factors
Inflation
No delivery date in site

Decided to cut the cord and make a move for a sport model prior to the inflation factor taking control of a delayed purchase. The longer one holds out for a promised delivery you also take on the risk of inflationary associated costs. By waiting there was a chance of being priced right out of the market for not only a new Bronco but used cars are skyrocketing as well.

So here I am today on the Eve of St Bronco's Day.
Picking up new BS tomorrow afternoon.

 

[thekingprawn]

So here I am today on the Eve of St Bronco's Day.
Picking up new BS tomorrow afternoon.

As my last name is Patrick maybe the scheduling gods at Ford will bless me with a build week and VIN soon...lolz.

 

[Major Kong]

There's already signs it's coming down.
(1) Patrick De Haan ? on Twitter: "Oil collapsing again this morning: WTI $94, down $8 RBOB down 22c/gal It’s only time before we sink back under $4/gal average as long as these levels hold." / Twitter

Temporary measures

 

[thekingprawn]

Temporary measures

I doubt the releases do much more than ease minds rather than easing markets, but that is sometimes enough.

 

[thekingprawn]

 

[Major Kong]

Drop co-insides with reserve release calming jittery market
We'll have to wait and see how it plays out
As mentioned earlier the Yuan for oil could be real inflation booster
when reserve USD's becomes the global pariah

 

[Bronclahoma]

You are thinking real short term here. Don't be brainwashed into thinking anything under $100 crude is cheap or even acceptable. The richest man in OK is Harold Hamm, owner of Continental Resources. This past year oil companies have quit investing in new infrastruture and drillling. Just sitting there selling what they are pumping and his net worth has doubled. CEO of Devon Energy says their 5-year growth projection is 0-5%. OIl companies don't have confidence that the huge investments to produce more oil will pay off. All due restrictions, not lack of confidence in their abilities. Without more U.S. production gas prices won't ever be down where they were a year ago.