What're you paying for Gas?

[AKIron]

Average national gas prices were approx $4 in 2022. They surged to over $5. I think they may drop below $2 so that's 50% of what we were paying. It may not, we'll see for sure. This affects a lot more than what you pay at the pump.

[Animl-AW]

Ok. If is a big word.

Prices were high as hell, then they came down 1.5 yrs ago. Prices on products did not, they went up, way up. Gas prices have only dropped again the last 2-3 weeks.the window between and 3 weeks after this, prices still went up snd are not dropping.

In s perfect world of honest people and no greed and no tariffs, I’d agree. But where not there either.

So we had examples of price change both ways and they only climb.

Tariffs are superseding logic, therefore to make a reasonable prediction they must be included in the equation. Not only tariffs causing issues, you have companies using it as an excuse to hit us with 100% markup, instead of 20-50%.

So as long as the demand for their products exist, despite tariffs, they ain’t budging.
Even if tariffs go away, they will try to keep it high unless we stop buying.

[AKIron]

I'm happy to pay half at the pump even if that's the only reduction in price I see. It won't be.

[Meatwad]

Still waiting on the 50-75% of inflation  on food prices to go down

[Animl-AW]

I'm happy to pay half at the pump even if that's the only reduction in price I see. It won't be.

Agreed, but it won’t change my life, unless I was still working and commuting.
The 2017(?) “ Tax Cuts” (scam) made it so I could no longer deduct it. But since I’m not traveling much I don’t and won’t even feel it.

There are always peaks and valleys, but in economics the peaks rately return to the same valley. They just go two steps firward one step back. Once they think you’re used to it the fall doesn’t happen.

Tariffs are a funneling device, you pay, they (politicians) take. Thats like asking them to give themselves a pay cut.

We’ll see, I’d love to be wrong. It may re-rack my view of humans.

[Getback]

Still waiting on the 50-75% of inflation  on food prices to go down

Me too. I have heard as we lose more consumers (I'm putting it nicely) prices will go down for food and housing.

[Animl-AW]

Me too. I have heard as we lose more consumers (I'm putting it nicely) prices will go down for food and housing.

Housing MAY hit a bubble burst of some form.
They aren’t selling (good, not everyone is a fool) and at least here its over-stock.
A record high of sellers are yanking their houses off the market because they aren’t getting highly inflated prices (by the seller) for them.

Example; I was eyeing a house for barely worth 180k, needed about $10k to restore it like new. Bank appraisal was only $175k. That would put me at 15k over bank appraisal. Which means 15k out of pocket.

Looked at it again, no work done at all it was now $240k. Now its $65k over appraisal and that comes out of pocket. Absolutely NOT.

Found out, people fleeing IL not only paid 240k, but slapped down 5k over asking price just to get it.

Stupid enough to pay $70k over appraisal, insane.

The fool market ran dry, now they can’t sell anything with that gouging.
Now, because of unemployment spiking and a crap economy foreclosures are starting to rise.
The last thing people are doing is buying a price gouged house, they are renting at gouging prices.

Real estate people I know were advertising $1m-4m homes are now trying to sell normal houses just to make a living and failing. Or sellers now renting.

It can only flop on its face. A price reset is coming, if not worse.

And all those who bought gouging priced home will take a major loss.

Its a shame it takes a flopping economy to cause a correction.

Very low gas prices can’t save that. Its coming. Bit it would be cheaper to live in a car during winter.

Ya know why prices went up under joe and sold? Because they could barely afford it, niw they can’t even barely afford it