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2025-01-24 Economy

Oil prices start to fall after Trump's statements in Davos

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Posted by badanov 2025-01-24 00:00|| || Front Page|| [11135 views ] Top

#1

Currently, GA/SC Gas costs us about $2.79 a gallon.
Another 67 cent drop, and we'll be at Trump's 2018 of $2.12 prices. That were seen around here in GA/SC.

Either way, we are DOWN from Biden's GA/SC high of $3.97 that were seen around here in GA/SC.

GAS Prices under the last 4 Presidents... notice the price cycles?

Posted by NN2N1 2025-01-24 06:50|| 2025-01-24 06:50|| Front Page Top

#2 From a daily standpoint oil might be down but for the last 12 months it's pretty stable. Was lower at times the last 12 .

Posted by The Walking Unvaxed 2025-01-24 07:24|| 2025-01-24 07:24|| Front Page Top

#3 One percent may be down mathematically speaking, but until there is a trend, it is just noise in the data.

It is enough to inspire feats of journalism, however.

Posted by SteveS 2025-01-24 10:20|| 2025-01-24 10:20|| Front Page Top

#4 March futures on oil took a tumble about 10am EST.

But as noted by others, this is a short term item.

FWIW, every $1 per barrel drop in oil prices should result in about a 2.5 cent/gallon drop in gasoline prices.

So if the WTI goes down to $60/bar (which is feasible IMO given industry capability and government cooperation), it should be about a 45 cent/gal drop in gasoline prices.

Posted by Lord Garth 2025-01-24 10:38|| 2025-01-24 10:38|| Front Page Top

#5 Even in California, Illinois, and New York?

Posted by Bobby 2025-01-24 12:08|| 2025-01-24 12:08|| Front Page Top

#6 Canada will reverse course with regard to energy production as soon as the Libs are out.

Posted by Super Hose 2025-01-24 14:18|| 2025-01-24 14:18|| Front Page Top

22:04 badanov
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