JDs Couch
Banned
Well-known member
Let's talk reality.
Diesel is in many ways more crucial than gasoline, because trucking runs on diesel. So the price of diesel drives up prices on everything.
Here's a chart of the 5Y Diesel price.
Now, we see the price was low until a sudden spike in early 2022. What happened in Feb 2022?
Putin invaded Ukraine. Sudden supply shock and price increase. That's bad, but not exactly Biden’s fault, unless your logic is quite the pretzel. Average US diesel prices peaked at $5.72/gallon in June 2022.
So, as we see, the price was pretty much back down to normal by mid 2023. While I don't blame Biden for the price jump, I also don't give him credit for bringing it back down. Market forces played the major role.
Now, let's look at the current price spike. Current US average diesel is $5.37. Only 40c below the all time record.
It's difficult to make an argument that this price spike is due to anything other than Donald Trump's sole decision to start a war with Iran. No outside global forces to shift the blame to.
And, all signs point to the price only increasing more from here. Major oil infrastructure in the Gulf has been destroyed, and will take years to rebuild. So this price increase will almost certainly last much longer than the previous Russia-caused spike.
Diesel is in many ways more crucial than gasoline, because trucking runs on diesel. So the price of diesel drives up prices on everything.
Here's a chart of the 5Y Diesel price.
Now, we see the price was low until a sudden spike in early 2022. What happened in Feb 2022?
Putin invaded Ukraine. Sudden supply shock and price increase. That's bad, but not exactly Biden’s fault, unless your logic is quite the pretzel. Average US diesel prices peaked at $5.72/gallon in June 2022.
So, as we see, the price was pretty much back down to normal by mid 2023. While I don't blame Biden for the price jump, I also don't give him credit for bringing it back down. Market forces played the major role.
Now, let's look at the current price spike. Current US average diesel is $5.37. Only 40c below the all time record.
It's difficult to make an argument that this price spike is due to anything other than Donald Trump's sole decision to start a war with Iran. No outside global forces to shift the blame to.
And, all signs point to the price only increasing more from here. Major oil infrastructure in the Gulf has been destroyed, and will take years to rebuild. So this price increase will almost certainly last much longer than the previous Russia-caused spike.
