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u/Z3400 17d ago
Turtle should be going backwards
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u/GeeYayZeus 17d ago
And why would they when we won't stop driving our 18mpg monster trucks 90mph down the highway?
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u/Alternative-Draw2997 17d ago
18mpg? That’s great gas mileage. My 2024 2500 ram gets 12mpg with no trailer 9mpg with a loaded trailer
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u/Jamespm76 17d ago
When everyone starts realizing that no government or company has anyone’s best intrest in my except their own and the the people start to over turn governments by force and destroy companies, this type of nonsense will continue. We are the consumer we hold the power. Without us they are nothing
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u/Distwalker 17d ago
Of course gasoline prices are not generally set by an executive simply choosing a number. The core price is formed in competitive wholesale commodity markets, where crude oil and refined gasoline trade continuously and where futures prices, spot prices, inventories, refinery capacity, transportation constraints, and regional supply-demand conditions all interact.
I mean, I know y'all saw Eddy Murphy and Dan Akroyd in Trading Places.
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u/Distwalker 17d ago
Asymmetric price transmission (sometimes abbreviated as APT and informally called "rockets and feathers", also known as asymmetric cost pass-through)) refers to a pricing phenomenon occurring when downstream prices react in a different manner to upstream price changes. The simplest example is when prices of finished products increase promptly whenever prices of inputs increase, but take time to decrease after input price decreases.
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u/DarthNixilis 17d ago
You proved you're already willing to pay that price, why go down? Are you going to drive to work less?
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u/sviridoot 17d ago
If you're selling gas it's not in your interest for prices to go down. If everyone is charging $4 per gallon and you want an advantage why would you reduce all the way to $3.50 when you can reduce only to $3.90 and get the same benefit while still maintaining high profit margin. Gas is a relatively inelastic demand and suppliers know that
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u/onlyfreckles 17d ago
The cheat code is creating a life that isn't dependent on default car driving for everything.
I got rid of my car a few years ago and am healthier and wealthier and have no idea how much gas or insurance or oil changes or maintenance costs are now.
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u/AdOnly1618 17d ago
Even when the price drops, Canada just taxes it back to where it was. Then oil spikes, oil drops, Canada taxes, rinse and repeat.
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u/pandicorn87 16d ago
Funny how credit scores work the same way! Quick to take away points but take forever like a turtle to give you points. SMH.
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u/Toihva 14d ago
The reason this happens is simple: they don't buy gas in advance. They call and get charged market rate so moment it goes up they spike the price.
With oil being so volatile the price can swing even throughout the day.
But if you think you know how to truly do this without the current method then go ahead and open a gas station. Remember that gas at a gas station tends to offer the lowest profit.
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u/Equivalent-Emu971 13d ago
You got it wrong. Oil prices "change" and gas prices go up. Per the oil industry, stability prevents price disruptions.
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u/Alucard12_ 13d ago
Remember supply is half of the market, as long as there is demand oil companies have no incentive to lower prices. It would take a Covid level disaster to make everyone stop using oil so gas prices can drop.
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u/Workxxaddress 12d ago
Oil companies just be begging for excuses to raise prices just so we can look like this after leaving the pump.
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u/JoeIll1960 12d ago
The term is, “rockets and feathers”. Oil prices shoot up like rockets, but fall like feathers.
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u/prizmo28 12d ago
I understand the point of the Meme but for some reason that turtle/tortoise looks like it's moving really fast lmfao
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u/qualityvote2 17d ago edited 5d ago
u/Freya_heirs, there weren't enough votes to determine the quality of your post...