What do you think about oil companies lowering the price of gas just before a Pr

Jump to Last Post 1-7 of 7 discussions (14 posts)
  1. flacoinohio profile image83
    flacoinohioposted 6 years ago

    What do you think about oil companies lowering the price of gas just before a Presidential election?

    There was a small statement made by Mitt Romney about the price of gasoline being $4.00 a gallon during the second Presidential debate last evening.  The price of gas in our area dropped 20 cents overnight, prompting my wife to send me a text message to buy fuel for the cars and mowers.  Every four years the oil companies lower the price of gas for two to three weeks prior to the election, they have done so for the past four Presidential elections.  Could oil companies be lowering prices to cause voters to forget about oil companies when going to the voting booth?

  2. everythingdazzles profile image81
    everythingdazzlesposted 6 years ago

    Typical, this happens every election. Not really surprised.

  3. AJReissig profile image73
    AJReissigposted 6 years ago

    I've not noticed a drop in prices in my area.  Nor have I ever seen I drop right before any other Presidential election...of course, this may just be my area.

  4. Rock_nj profile image92
    Rock_njposted 6 years ago

    Actually, retail gasoline prices are way higher than their historical difference from the wholesale futures prices.  Right now, gasoline is wholesaling for about $2.80 per gallon, but selling for about $1.00 to $1.20 more on average around the U.S. or $3.80 to $4.00 per gallong.  Usually, the difference is closer to 60 cents, so there is room for gasoline to fall as competition amongst suppliers drives the price closer to its normal price difference between wholesale and retail prices.

    1. flacoinohio profile image83
      flacoinohioposted 6 years agoin reply to this

      So you are saying that every four years for a few weeks before election day competition between wholesale and retail gas suppliers suddenly decreases until about a week after election day?  That is a wonderful coincidence.

    2. Rock_nj profile image92
      Rock_njposted 6 years agoin reply to this

      I didn't say anything of the sort.  I said that at the moment the spread between wholesale and retail gasoline prices is unusually wide.  I have never seen it so wide before, election year or not.  They have room to drop quickly for whatever reason.

    3. flacoinohio profile image83
      flacoinohioposted 6 years agoin reply to this

      The gas prices have dropped three to four weeks and stayed low until the Presidential election is over. This has happened for every Presidential  election since gas went over two dollars a gallon in 2003 and this is because the price gap has widened?

    4. Rock_nj profile image92
      Rock_njposted 6 years agoin reply to this

      The spread between wholesale and retail gasoline prices is abnormally wide right now.  Don't take my word for it.  Look it up.

    5. flacoinohio profile image83
      flacoinohioposted 6 years agoin reply to this

      Where can I find the specific information you are citing?

    6. Rock_nj profile image92
      Rock_njposted 6 years agoin reply to this

      Look at gasoline futures charts and compare them to retail gasoline charts.  There are also some recent articles on the Internet that cover this topic.  It appears to be due to short supply of gasoline due to regional blends and refiner maintenance.

  5. profile image0
    traviswademillerposted 6 years ago

    Yes, they drop, and then they shoot right back up again!

  6. lone77star profile image84
    lone77starposted 6 years ago

    It doesn't surprise me.

    One big happy family in the Corporate Party (Demopublicans and Republicrats).

    Their agenda is not America -- it's New World Order elite over enslaved humanity. Alas! It's Germany 80 years ago all over again, only they're running Hitler 2.0 -- the slicker, more sinister tyranny social software.

    1. profile image0
      Larry Wallposted 6 years agoin reply to this

      Antitrust laws prohibit gasoline companies from coming to decisions on prices. As a former employee of an oil and gas trade association, I have seem people scramble out of rooms, if someone mentioned prices or how much fuel was available.

  7. profile image0
    Larry Wallposted 6 years ago

    Oil prices and therefore, gasoline prices are impacted by supply and demand and by what is happening in the world, which causes the speculators to react.

    So we have a presidential election coming. That means change, even if the incumbent wins. That means more emphasis on bio fuels, regardless of who wins and that probably means more environmental controls regardless of who wins.

    Next the election is very close to Thanksgiving, the start of the holiday driving season, where gasoline prices always go up because of demand.

    Then there are localized and seasonal aspects to consider. Gasoline prices in my City have been at the $3.50 to $3.55 on average for about a month. There is always one or two stations that are much higher and a few that are much lower. Do not assume the stations you pass on your way to work reflect average prices.

    The President does not control gasoline prices. The market controls the price. The government impacts the price with state and federal taxes per gallon. Some local communities can add taxes and in some cases there are special taxes added on top of other taxes. If you are in California, you are paying higher prices because that state uses a special blend that is made in no other state, and therefore, the supply can be affected if a refinery goes down for maintenance, which they must do.

    The only thing constant about gasoline prices is that they are going to constantly be changing.

 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)