The cycle continues. Prices are now dropping as companies have pushed as much as they could.

[alarmguy]

This… is why I say that we are the frogs. National average price was $2.11/gallon in November 2020. My local price was $1.69 that same month. Three months after that I was already paying over $4/gallon. Fast forward 3.5 years and our minds lead us to believe that $3/gallon is “cheap”.

Take into account inflation from the 1970s three dollars is cheap today and keep in mind much of that higher cost is additional taxes that have been put on gasoline in the last 50 years not the actual product itself.

So $1.69 for gasoline was ridiculously depression low for the market as in the 1970s it was a dollar or more
I can’t think of any product from back then to today priced is low as gasoline

I’ll go out on a limb and say that the cost of life sustaining drinking water percentage, wise or any food item for that matter has gone up much more than gasoline in the last 50 years
We must remember all the additional taxes that got thrown on to the cost of gasoline over the past 50 years and it’s not just the tax at the pump. It’s the taxes on refineries distribution right down the line.

 

[PWMDMD]

Take into account inflation from the 1970s three dollars is cheap today and keep in mind much of that higher cost is additional taxes that have been put on gasoline in the last 50 years not the actual product itself.

So $1.69 for gasoline was ridiculously depression low for the market as in the 1970s it was a dollar or more
I can’t think of any product from back then to today priced is low as gasoline

I’ll go out on a limb and say that the cost of life sustaining drinking water has gone up much more than gasoline in the last 50 years

Not to mention when gas was $1.69 the price of oil was so low that it put about half of the small oil drilllers out of business.

 

[doitmyself]

This… is why I say that we are the frogs. National average price was $2.11/gallon in November 2020. My local price was $1.69 that same month. Three months after that I was already paying over $4/gallon. Fast forward 3.5 years and our minds lead us to believe that $3/gallon is “cheap”.

The average price of gas in 1980 was about $1.19/gallon. $1.19 in today's dollars is about $4.54. So yes, gasoline at $3 per gallon today is relatively cheap.

And, why compare anything to Covid gasoline prices, which were an anomoly? Finally, why are we frogs?

 

[nickaluch]

Let’s don’t pretend all companies made out like bandits …
Some had very rough periods - some are gone …

I had a small office refreshment / coffee company in NYC. 3 trucks running small warehouse in Brooklyn. After 30 years of dealing with Manhattan I sold before covid was offered a great deal and took it. The company that bought me is a shell of what it was I totally lucked out.

 

[wwillson]

The law of supply and demand is a big factor too-a limited supply due to COVID, and too much stimulus/spending driving up demand. Until the excess cash dries up & the customers are tapped out…

Inflation = Too much money chasing too few resources.

 

[IveBeenRued]

The average price of gas in 1980 was about $1.19/gallon. $1.19 in today's dollars is about $4.54. So yes, gasoline at $3 per gallon today is relatively cheap.

And, why compare anything to Covid gasoline prices, which were an anomoly? Finally, why are we frogs?

Enjoy the warm water.

 

[bullwinkle]

The average price of gas in 1980 was about $1.19/gallon. $1.19 in today's dollars is about $4.54. So yes, gasoline at $3 per gallon today is relatively cheap.

And, why compare anything to Covid gasoline prices, which were an anomoly? Finally, why are we frogs?

Getting cooked (boiled) so slowly we don’t realize it…

 

[wwillson]

Enjoy the warm water.

Come on, if you are going to make a statement, say something to back it up.

 

[bullwinkle]

I had a small office refreshment / coffee company in NYC. 3 trucks running small warehouse in Brooklyn. After 30 years of dealing with Manhattan I sold before covid was offered a great deal and took it. The company that bought me is a shell of what it was I totally lucked out.

Timing is everything! My company has been buying everyone in sight-I’m trying to figure out where all the money is coming from.

 

[Chris142]

Gasoline is dirt cheap right now and has been all year and more. $2.89

tell me about this cheap gas?

 

[tbm5690]

tell me about this cheap gas?

View attachment 226952

CA will always be an anomaly.

 

[alarmguy]

tell me about this cheap gas?

tell me about this cheap gas?

View attachment 226952

CA will always be an anomaly.

Yes and when people post prices they are posting prices with state, local and federal taxes included. You dont do that with any other product. Just because your state goes nuts taxing gasoline and gasoline refineries is not price inflation of the product.
ITs what the people vote for, not the price of gasoline. Which is right in line with inflation in many ways.

 

[Rmay635703]

What's special about that? They've had a dollar menu for years,

$1 $2 $3 Dollar Menu Items | McDonald’s

Check out $1 $2 $3 Dollar Menu items from McDonald’s to satisfy your cravings for your McDonald’s favorites at a great value!

www.mcdonalds.com

Try to find anything on the dollar menu.

The 99cent burgers are now $3.15 here and we are a lower priced market.

Everything McD pushes requires you to buy multiples to get a slight discount.

 

[Pablo]

Who the heck eats that crud anyway?

Have some respect for your body.

 

[Ranger83]

Friend was complaining that he paid $17.50 for a small bottle of propane at Yellowstone.

Looked it up and the best price locally is $10. Seem to recall these being less than $5 last time I bought one.

 

[Fitter30]

This… is why I say that we are the frogs. National average price was $2.11/gallon in November 2020. My local price was $1.69 that same month. Three months after that I was already paying over $4/gallon. Fast forward 3.5 years and our minds lead us to believe that $3/gallon is “cheap”.

Guess you don't remember covid. Crude oil prices april 2020 $21.40, nov 2020 $42.30, may 2024 $81.44
ycharts.com/indicators/average_crude_oil_spot_price
In 2022 when gas and diesel was $5+ and companies tacked on fuel surcharge didn't here anything about inflation. Companies that made multible stops a day made a killing.

 

[IndyIan]

Take into account inflation from the 1970s three dollars is cheap today and keep in mind much of that higher cost is additional taxes that have been put on gasoline in the last 50 years not the actual product itself.

So $1.69 for gasoline was ridiculously depression low for the market as in the 1970s it was a dollar or more
I can’t think of any product from back then to today priced is low as gasoline

I’ll go out on a limb and say that the cost of life sustaining drinking water percentage, wise or any food item for that matter has gone up much more than gasoline in the last 50 years
We must remember all the additional taxes that got thrown on to the cost of gasoline over the past 50 years and it’s not just the tax at the pump. It’s the taxes on refineries distribution right down the line.

Factory farm cheap meat is also much less than inflation https://www.statista.com/statistics/236827/retail-price-of-pork-chops-in-the-united-states/
I don't know who would pay $4-5US/lb for factory farm pork chops at a grocery store? Here they seem to be on permanent sale at $2-3CAD/lb at the right grocery store.

 

[jeepman3071]

Inflation is one thing, but the prices have almost exactly doubled from 3 years ago on a lot of consumer items. Anyone who doesn't see it is out of touch with reality. I mean I posted in the lawn and garden section about replacing the engine on my grandfather's zero turn mower. I had price quotes from the year before because he had just started to think about replacing it back then. The price from the same company I ordered from (still the cheapest) had almost exactly doubled, and the shipping had almost tripled.

 

[alarmguy]

Factory farm cheap meat is also much less than inflation https://www.statista.com/statistics/236827/retail-price-of-pork-chops-in-the-united-states/
I don't know who would pay $4-5US/lb for factory farm pork chops at a grocery store? Here they seem to be on permanent sale at $2-3CAD/lb at the right grocery store.

China owns 1/3rd of all the pigs/pork sold in the USA might explain it China owns Smithfield foods which was the largest Chinese corporate buyout of an American company back it 2013 @ almost 5 billion, they also own the farms producing the grain to feed the pigs.

 

[UncleDave]

Id love to lower my prices, but not a single supplier, insurance company, or employees wants less.

How can I do that when my costs on everything have skyrocketed?