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U.S. pipeline operator says normal operations have resumed

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Gas shortages, which spread from the South, all but emptying stations in Washington, D.C., have been improving since a peak on Thursday night.

People are panic buying gas. This is just like at the beginning of the pandemic when everyone went out and bought 52 rolls of paper towels. If everyone would just calm down, and buy gas only when they need it, there would most likely be enough for everyone and stations would not run out. The gas is going to start moving again in the next couple of days - there is no need to panic.

6 ( +6 / -0 )

The price of gas was already up 20-30% prior to this. Wonder how long this can be used as an “excuse” for gas prices.

-7 ( +1 / -8 )

The price of gas is set by the market based on supply and demand and not by state or federal governments. Gas prices go down and gas prices go up.

Current price $2.94/gallon.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m

6 ( +6 / -0 )

Price when Trump left- $1.89

you say prices go up and down. I’ve seen the up part, where is the down?

consumer prices highest since 2008. With food and gas excluded even.

-8 ( +0 / -8 )

Well, they’re not going down in California and more people continue to leave that state.

https://gasprices.aaa.com/state-gas-price-averages/

People, leave that mismanaged state for your own safety and sanity.

Price when Trump left- $1.89

Give up, that will never go down to that level as long as we have a Democrat President.

-5 ( +0 / -5 )

You say supply and demand and that fed government not responsible.

wouldn’t the federal government shutting down the Keystone XL pipeline have a negative impact on supply? Which would cause demand (and price) to rise?

-8 ( +0 / -8 )

Give up, that will never go down to that level as long as we have a Democrat President.

It will also never go down to that level because it's an invented number.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=emm_epm0_pte_nus_dpg&f=m

Last time gas was under 1.90 is 1.872 in february 2016 (under Obama). And it was at 2.420 went Trump left last january. Numbers are always very favourable to your argument when you invent them.

4 ( +5 / -1 )

Might want to do some reading

https://www.cnet.com/roadshow/news/gas-prices-average-drop-kentucky-station-us/

Lowest gas prices in the US falls to just 89 cents a gallon.

On March 18, De Haan counted 16 states where the lowest gas price recorded was already $1.50 per gallon.

-7 ( +0 / -7 )

Presidents have zero impact on gas prices. Everyone, give it up.

4 ( +5 / -1 )

Blacklabel

Price when Trump left- $1.89

> you say prices go up and down. I’ve seen the up part, where is the down?

Then visit the link. Last year it hit a low they couldn't give the oil away.

4 ( +4 / -0 )

who was President “last year” when it hit the low?

-6 ( +0 / -6 )

Interestingly enough, when gas only costs $.89 a gallon, it is no longer possible for US producers to profitably extract oil. These record low prices actually drove a lot of US oil companies bankrupt.

https://www.nsenergybusiness.com/features/oil-gas-bankruptcy-2020-north-america/#:~:text=North%20America%20hit%20record%20bankruptcy%20debt%20across%20oil%20and%20gas%20sectors%20in%202020&text=In%20what%20was%20%E2%80%9Carguably%20the,analysis%20by%20consultancy%20Rystad%20Energy.

Though consumers generally prefer lower gas prices, it isn't as black and white saying low prices are good and high prices are bad.

2 ( +2 / -0 )

https://www.marketwatch.com/story/why-a-biden-presidency-may-lead-to-higher-gasoline-prices-11603992805

“Traditionally, presidents had limited ability to move the needle at the gas pump, but in recent years that has changed,” said Patrick De Haan, head of petroleum analysis at GasBuddy, in a recent statement. He also said Biden openly stated that “he would end drilling, curbing U.S. oil production and end fracking, which could potentially send oil prices and thus gas prices higher.”

-5 ( +0 / -5 )

On March 18, De Haan counted 16 states where the lowest gas price recorded was already $1.50 per gallon.

Oh wait so now you don't want to talk about national gas prices in general, but the lowest possible gas price in a state at some pumps at one point in time? Then you have nothing to complain about, because gas in Louisiana is at 2.72$ right now, which is much lower than last may under Trump (2.94$). See, you can really make the numbers say anything when you completely use them out of context.

4 ( +4 / -0 )

Blacklabel

you are obsessed with who was president when the oil market goes up or down but a fake connection since there are none. Nothing better to offer like what are the gas prices here?

3 ( +4 / -1 )

wouldn’t the federal government shutting down the Keystone XL pipeline have a negative impact on supply?

The pipeline was never completed and never shipped any product so how could it affect current gas prices? The government didn't shut down a working pipeline.

1 ( +1 / -0 )

Because that pipeline was going to increase supply. You know, supply and demand?

when you are told supply is not increasing for something you need to live your daily life, doesn’t that make your demand go up?

-7 ( +0 / -7 )

Anyway Dems know that gas prices are a critical election issue, that’s why they are so concerned.

even Biden voters at some point will stop voting against their own self interests if it gets too bad.

If $4 gas and all consumer prices higher vs. some mean tweets that’s a tougher choice than it was before.

-7 ( +0 / -7 )

Here are average gasoline pump prices for the US from 1994 through 2021. As you can see from the charts current prices are far from all time highs. Prices were higher in June 2008 and a couple of times in the 2011-2012 time frame. You can see immediately before Covid hit prices were $2.94 a gallon.

https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPM0_PTE_NUS_DPG&f=M

2 ( +2 / -0 )

even Biden voters at some point will stop voting against their own self interests

And that's exactly why they will never vote for a republican who insists on cutting taxes for very rich people and corporations.

If $4 gas and all consumer prices higher

And if Trump had wheels it would be a fat bicycle. It's all meaningless conjectures.

2 ( +2 / -0 )

Readers, former President Trump is not relevant to this discussion. Please stay on topic.

when you are told supply is not increasing for something you need to live your daily life, doesn’t that make your demand go up?

No. Supply would have to decrease for price to rise. Supply has not decreased. Demand for gas declined during the pandemic leading to lower prices all across the US. Now that people are vaccinated travel is picking up and so is demand. The Colonial Pipeline disruption was temporary and created a spot shortage for a limited region. In the middle of last year there was such a glut of oil on the market drillers were running out of tankers to store it on. Do you remember just a year ago when oil futures were in negative numbers, meaning oil drillers were effectively paying people to take their oil. Now the market is returning to a more normal condition. Keystone XL has nothing to do with any of this because it has never carried product.

2 ( +2 / -0 )

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