A Certain Buffoon Warned The...

[ProfessorGAC]

...petroleum industry to not raise gas prices.
I went to the pharmacy in another town for one of my wife's meds. I go every month.
The last time I went I used my loyalty card at the Circle K & paid $2.889.
Today, I paid $3.259.
A 12% increase. In one month.
Somehow I think the fuel industry didn't concern themselves over the "threat". Neither did the oil marketeers.

[Captain Zero]

1. Bananas are up. Coffee is up.

Authoritarianism is ALL he going to "deliver" on.

We have every right.

[ProfessorGAC]

2. I Get You, But...

...he CAUSED the banana & coffee increases.
He was on TV a month or so ago saying gas prices were under $2. Now they go up 12% in a month.
And, it was a really stupid lie, because even his most blindly loyal followers know how much they're paying for gas.
That lie cannot fool anyone.

[kimbutgar]

3. Businesses always have a certain profit margin and when the price of goods and services rise they pass it onto

The consumer. economics 101. And these tariffs are going to cost consumers more.

magaloons will be screaming that the price of their maga hats, beer and food are going up and they can’t blame Democrats. 😝

[ProfessorGAC]

4. Agreed

I worked in big business.
Margins are sacrosanct.
Your description is why oil refiners never cared about crude prices. 15% of $90 per barrel oil is better than 15% of $70 crude.
It is complete fantasy that the consumer providers are going to eat those increases. Remember, he warned WalMart & Target too.
Just like the oil industry, they will ignore him.

[BlueSpot]

6. I haven't looked at the new tariff numbers but

I'm sure you know that the US imports a whole lot of crude. Heavy, sour crude. We produce a lot of crude now but it is mostly light, sweet crude. Several of the refineries in Texas have been reconfigured to deal with the light, sweet because Texas is a major producer due to fracking. Go further east to Louisiana and up into the Midwest and the refineries there rely on imported crude. They get it from Saudi Arabia and Canada and, I'm sure, other sources (don't feel like looking it up). eia.gov if you do.

So we've presumably got new tariffs on these imports and not enough refining capacity to utilize the crude we produce to supply our domestic gasoline demand. Prices are going to go up. I guess the good news, such as it is, is that the refineries will be switching over to the winter formulations in the next few months. Those typically result in lower prices which could help offset some of the tariff effects.

Next May, however, well, fill your tanks before May. The summer blend is more expensive.

We also export a lot of our light, sweet crude. Wonder how that will work when nobody wants to trade with us.

[Wounded Bear]

5. Tariffs are a cost of doing business. Such costs are paid for by the consumers..nt