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Posted
6 hours ago, glutes said:

 

When Gas Prices Rise, They’re Hard to Bring Down. Here’s Why.

Despite the cease-fire in the Middle East, prices at the pump are still rising

https://www.wsj.com/finance/commodities-futures/when-gas-prices-rise-theyre-hard-to-bring-down-heres-why-23e23bc1?st=kdY239&reflink=desktopwebshare_permalink

Here in Canada we’re about to have the switch from winter to summer grade gasoline which results in increases in prices. So even if oil comes down a little prices at the pump are headed higher. Sigh.

Posted
27 minutes ago, Whoisyourdaddy said:

I've only noticed a slight increase. Before the war, I paid $20 to fill up my tank. Now, I pay $25. 

I walk a significant amount, so my extra monthly gas costs about the same as one restaurant meal.

I think we’re seeing the in-between phase. There’s upward pressure from the conflict and Hormuz, but it’s being softened by reserves and people cutting back on driving. If things continue to escalate or drag out, it probably won’t stay that mild. If more people start pulling back, that’s when it becomes a broader GDP issue, not just gas prices. 

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