Tuesday, August 09, 2022

Why Are Gas Prices Falling?

Article looks into the possible reasons why gas prices have started to fall over recent weeks.  While I agree with the idea that prices are falling because of a drop in demand (people are driving less) - I have major issues with much of the reasoning.

First off - the article never addresses why gas prices have doubled since July of 2020. To truly understand why prices are falling you must first understand why prices doubled in the first place.

Second the example of a family renting an RV for vacation is pure ivory tower BS. In the real world higher gas prices coupled with across the board inflation (the word inflation does not appear anywhere in the article) mean people's budgets are stretched thin and people are driving less. Yes many people are doing "staycations" instead of vacations but many families are also forced to take second jobs to make ends meet with no vacations at all. 

At least the BS excuse of higher gas prices are somehow Vladimir Putin's fault seems to have been dropped by all involved. If Putin was to blame for higher prices - shouldn't Russia - not Joe Biden get credit for the dropping prices now?

HT Instapundit

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