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PeakOil is You

THE Gasoline Price Thread Pt. 5

General discussions of the systemic, societal and civilisational effects of depletion.

Re: THE Gasoline Price Thread Pt. 5

Unread postby Tanada » Sat 29 Dec 2018, 17:41:21

$1.74/gallon at Costco in Toledo today!
I should be able to change a diaper, plan an invasion, butcher a hog, design a building, write, balance accounts, build a wall, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, pitch manure, program a computer, cook, fight efficiently, die gallantly. Specialization is for insects.
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Re: THE Gasoline Price Thread Pt. 5

Unread postby Outcast_Searcher » Sat 29 Dec 2018, 19:07:30

ROCKMAN wrote:Outcast - I consider the national average rather meaningless. There are very big differences between local retail markets, sources of crude oil and individual refinery dynamics. Averaging all those factors makes comparing it to local prices rather pointless IMHO.

The national average is what it is. You're right that it is rather pointless for comparing things locally.

OTOH, it's far from meaningless. It's an overall indication of the cost to consumers across the country, and the cheaper it is, the less strain on peoples' budgets. So comparing the national average cost over time is a meaningful factor for the US economy. It also weeds out local noise due to things like local/state tax changes, regional distribution changes, local transportation issues, etc. so, IMO, it's a more useful number for looking at the overall economy.

It also has a very high correlation to the WTI price over time. A nice thing about a major average is many local minor factors (both bullish and bearish) tend to cancel out, making the overall signal less noisy.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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