An IL driver may be delighted to hear gas prices are dropping. However, if the prices get too low, IL can always raise the gas tax rates to make up for lost revenue. This would be yet another example of taxpayer abuse.
Mr Peabody's Boy Sherman
3 years ago
Gas prices are really down when you buy your fuel in Wisconsin or Indiana or Iowa.
debtsor
3 years ago
The worldwide economy is collapsing. That’s why gas prices are lower.
The Strategic Oil Supply is being depleted at record rates. Down from over 600M barrels to approx 387M or getting close to 35-40% reduction. Biden has been tapping the supply for months now. This is our emergency backup supply and it is being dwindled into oblivion. Not much in main steam media about this. Also refinery is at capacity. Any breakdown will cause prices to spike. Nothing to worry about. EV’s will save us from doom. https://ycharts.com/indicators/us_ending_stocks_of_crude_oil_in_the_strategic_petroleum_reserve
Last edited 3 years ago by Freddy
87Saluki
3 years ago
I wonder if people cutting back on driving has anything to do with it? /sarc
Traice
3 years ago
Don’t be fooled by this decrease. It’s still higher than January 2020. Wait until the taxes, that were delayed for the election, hit in January. Then another increase in July.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
An IL driver may be delighted to hear gas prices are dropping. However, if the prices get too low, IL can always raise the gas tax rates to make up for lost revenue. This would be yet another example of taxpayer abuse.
Gas prices are really down when you buy your fuel in Wisconsin or Indiana or Iowa.
The worldwide economy is collapsing. That’s why gas prices are lower.
Yup, demand destruction.
The Strategic Oil Supply is being depleted at record rates. Down from over 600M barrels to approx 387M or getting close to 35-40% reduction. Biden has been tapping the supply for months now. This is our emergency backup supply and it is being dwindled into oblivion. Not much in main steam media about this. Also refinery is at capacity. Any breakdown will cause prices to spike. Nothing to worry about. EV’s will save us from doom.
https://ycharts.com/indicators/us_ending_stocks_of_crude_oil_in_the_strategic_petroleum_reserve
I wonder if people cutting back on driving has anything to do with it? /sarc
Don’t be fooled by this decrease. It’s still higher than January 2020. Wait until the taxes, that were delayed for the election, hit in January. Then another increase in July.