Traded price for gasoline

The traded price of gasoline is ramping. Party’s over folks. Here is a chart of the traded price of bulk gasoline before taxes etc. :)

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2,397
Location
Pennsylvania
While this can be driven by supply/demand issues, it is at least in part indicative of the overall inflationary scenario that is unfolding. Food prices are up, manufactured goods are showing price increases, etc. I noted on here before that this the price we pay for the government printing money to issue checks to people. That is money that is NOT derived from growth in production which is always inflationary. It will get a lot worse.
 
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2,226
Location
Juno Beach FL
The traded commodity prices have gone up and down for more than a few decades. At one point it was in negative pricing territory last year and it was over $100 a barrel about a decade or so ago for a while. Maybe this is this is the inflection point where all is ever does going forward is to go up, up and up. Maybe instead it will continue to go up and down in the future.

Break out your crystal balls, and let the predictions begin!
 
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3,511
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Northern Ontario, Canada
Predictive accuracy in commodities pricing is a fool's errand.
I had direct visibility on a large multi-national corporation's fuel hedging results over a 15 year period.
At least 75% of the years we were in a negative hedge position, where it would have been just better to take the market price and deal with it.
Yes, hedging was used for pricing certainty in next year's budget, but it was hard to see (at least for me) ,the hedging experts not out perform the market.
 
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578
Location
MN
The cheap prices lately have been nice, although I've been using much less gas than normal. But increased demand as things get closer to "the new normal," since people have more places to go, strikes me as better than low prices and no demand for gas. I'd take $2.50 or $3 gas and normalcy over $1 gas and nowhere to go any day of the week. It's hard for me to get excited about cheap gas when it's the symptom of a larger problem (low demand, low optimism, low consumer confidence, and all the rest), IMHO. I paid $2.04 this week, so still pretty reasonable in my book.
 
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2,226
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Juno Beach FL
HA! You ain't seen nothing yet. For the next 4 years gas is going to shoot up like the Space Shuttle. Well, here in the US anyway. The new Gestapo and their henchmen are about to put it to us!
Unless those henchmen get US federal and state taxes increased like the space shuttle, or require some additional expensive treatments included with fuel, future prices will continue to trend generally as the commodity prices trend.
 

BlueOvalFitter

Site Donor 2021
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8,656
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Cajun Country, La.
Unless those henchmen get US federal and state taxes increased like the space shuttle, or require some additional expensive treatments included with fuel, future prices will continue to trend generally as the commodity prices trend.
They have always thought that they have blank checks and can write them out for ANY amount they want. :rolleyes:
 
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10,593
Location
Cincinnati, OH, USA
I wouldn't bet on gas going crazy-all the new electric cars & fracking in the USA & Canada will keep them from getting too high. Remember, the Goldman Sachs pump & dump caused the huge runup last time (2006-2007) and a spectacular collapse followed, some of the lowest wholesale prices ever when adjusted for inflation. Check out the mountain peak at the beginning of this chart (changed to max date range)-
 
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