Falling Pump Prices Blunt Trump's Inflation Attacks on Harris
Source: Bloomberg
September 7, 2024 at 8:00 AM EDT
Steadily falling gasoline prices are providing a tailwind for US Vice President Kamala Harris campaign for the nations highest office as Donald Trump seeks to rile inflation-weary consumers by attacking her record on energy.
Retail gasoline prices have fallen to a six-month low in the US and are only expected to fall further amid weaker-than-expected demand and a slumping outlook for the crude oil used to manufacture motor fuels. Regular unleaded was averaging $3.296 a gallon as of Thursday, down more than 10% from this years peak in April, according to data from auto club AAA.
The drop may provide Harris with a bump among voters who arent shy about blaming the White House for high gasoline prices, a key signal of how inflation is eating into their wallets, said Bob McNally, president of Rapidan Energy Group and an adviser in the George W. Bush administration.
A recent Bloomberg News/Morning Consult poll showed that roughly three in 10 voters in battleground states consider fuel prices the most crucial economic issue for them. In a portent of what may be in store for retail pump prices, benchmark New York gasoline futures have slumped to a 3 1/2-year low. Harris is getting very lucky, McNally said in an interview. The most visible price in life is falling.
Read more: https://www.bloomberg.com/news/articles/2024-09-07/falling-pump-prices-dampen-trump-s-inflation-attacks-on-harris?srnd=homepage-americas
No paywall (gift)
BOSSHOG
(38,838 posts)I buy the most expensive gas available and it has gone down .20 cents a gallon in two months.
I tend to look at a candidates criminal record in deciding who to vote for.
GB_RN
(2,898 posts)Think that the White House has control over gas. Theyre ignorant (or just plain stupid) of the fact that the price of gasoline isnt even really set by the oil companies, much less the White House. No clue that the prices are based on the global trade markets.
One more sign that our educational system has failed.
onenote
(43,882 posts)It's a lot easier than understanding the complex economics of the global energy markets.
For example: https://www.democraticunderground.com/100219002542
LeftInTX
(28,996 posts)The general public does look at gas prices. I remember them soaring before the 2008 election and thought: "This should be good for Obama".
BOSSHOG
(38,838 posts)My vote wouldnt change. Voting for trump will not lower gas prices, reduce immigration or neuter inflation. I need gas ergo I buy gas.
LeftInTX
(28,996 posts)It won't affect my vote either and I'm also 0.000000625%, so together we make up 0.00000125% of the vote!
GB_RN
(2,898 posts)Prices here went up about the same time as the university students returned for the Fall semester. Prices then began to drop and weve gone from around $3.50 a month ago, to $2.79-$2.89, depending on the gas station (chain).
Not a fan of paying higher prices for gasoline, but I also recognize that lower prices - with attendant increases in driving - arent exactly good for the Earths climate. Damned if we do, and royally screwed if we dont.
Marigold
(61 posts)Remember those guys standing at the pumps with Joe Biden pointing to gas prices saying, "I did that!" ?
cstanleytech
(26,801 posts)After all if he did win there's a chance he could open up more land for oil drilling which would actually cause the price to go for the down further. So this time they actually want and need a Democrat who would say no to such a thing because it'll help them as they will rake in the money and then they will shift the blame to the person in office for the high price of gas.
JoseBalow
(4,383 posts)jvill
(313 posts)if you compare it to the cost of bacon in 1978
LeftInTX
(28,996 posts)Saffron Road Butter Chicken/Chicken Masala etc: $4.38 with coupon: $2:38.
I'm stocking up..LOL
BumRushDaShow
(137,634 posts)I usually make my own by hand (thanks to having a billion Penzeys spices).
LeftInTX
(28,996 posts)BumRushDaShow
(137,634 posts)I recently discovered Amazon's "Aplenty" Orange Chicken (which is a frozen brand that yields me a bunch of dinner servings) and that turned out great so got another box recently (I normally made my own as I had a great easy recipe for it). I'm still doing home PT for a cervical strain so definitely understand (what a PITA ).
LeftInTX
(28,996 posts)BumRushDaShow
(137,634 posts)ahead of the delivery window, and deliver in a foil-insulated paper bag.