Here. I hope you are doing great. We’re going to talk about oil and gas prices going up. People are starting to freak out. You know, just the fact of the matter is, if you clicked on this video because there’s no fancy thumbnail involved, it means you’re not a drooling idiot that needs stimulation to actually get your attention. It means you’re intelligent. If you like economic news with a little bit of sarcasm thrown in the mix and you want to get ready for the next economic collapse, then hit the subscribe button.
All right, here we go. This is out of fox Business. This is actually trending on Google. Why are gas prices going up? People are freaking out. They should be because the Federal Reserve and the government are drunken sailors spending your tax dollars into oblivion while the rich get richer and you get poorer and there’s a crash coming. Get ready for it. And prices are going to go higher in oil and gas.
First we’re going to talk about seasonality and then a couple of other crazy things. So out of fox business gas and oil prices are on the rise as warm weather brings more demand, it says with warmer weather on the horizon, gas prices have started their usual trend upward. Prices rose to $3. 15 last week, AA reported. Now I used to be from California, you know, where everything’s crazy except for 90% of the people.
I know it sounds crazy, but 90% of the Californians, they’re not crazy, just the other 10%. And they’re running this state into the ground and gas prices are absolutely astronomical. As a matter of fact, diesel prices are even higher than gas prices. Derivative of gasoline should not be higher. But whatever. Let me know down in your state where it is, how much diesel right now in my state is $3.
56, says this week’s prices were $0. 08 higher than this time last month, but than last year it feels like being in a car with a cold battery cranking away and yet slow to turn over, AAA spokesperson Andrew Gross said. But gas prices will likely start increasing around Valentine’s Day. Higher prices are largely due to an increase in demand as spring inches closer. It’s also a different mix.
Gas demand increased from 8. 14% to 8. 81 million barrels per day, data from the Energy Information Administration showed. A lower oil supply is also contributing to the slow rise in price. According to AAA, oil prices are also up from last week to 73. Eightyrel the EIA reported. You may not be able to control gas prices, but you can control other car related expenses, lowering your auto insurance premiums oh, that’s right.
AA came up with know auto insurance is exploding and we are in quite a. Actually, it gets a little old reporting over this stuff and things are going to get worse because the government’s now having a hard time borrowing money. Bond auctions, people are not even showing up to these things anymore and it’s going to get a little bit nuttier. But you have to understand that prices do always trend up higher.
We all know that. But travel and leisure is taking a hit. Why? The lower end of the spectrum when it comes to spenders on travel and leisure, the people that have less money are actually walking away from travel. They’re tending to stay closer at home. And this is evident by spirit Airlines having so much trouble getting people to buy their cheap fares while they shove them into the cockpit or the airplane like tuna says.
Gas prices fluctuated across the country with certain states seeing larger price hikes than others. Here are the states that saw the highest changes in price last week. Real quick, sound out and let me know if you’re from any of these states. Missouri went up $0. 22. Wisconsin went up $0. 16. Kentucky $0. 15. Utah $0. 13. Illinois $0. 10. Florida went down ten cents. New Mexico went down $0.
07. Ohio went up $0. 06. Michigan up $0. 05. Arizona up. Just the beginning. I mean, we’ve got Houthis attacking ships across the world. We have countries abandoning the US dollar for trade settlement when it comes to oil and any other trade for that matter of fact. But the point being is that we have a lot of tension coming. Oh, yeah. And 43 countries are going into an election cycle.
So nothing to see here, point being is that things are going to get worse. And so as people get, the consumers get strained, they’re going to spend less money in other aspects and other parts of the economy, which are going to lead to companies laying people off like Google and Cisco. And this is getting nutty. It’s going to get worse. That’s the good news. Okay, so you need to mean this is what I’m doing.
I’m just sitting back, I’m saving money, I’ve got a cash position and I’m taking advantage of the fact that a lot of people aren’t paying attention to this. I’m going to go buy up all their stuff. That’s just it. All right. Hey, with that being said, I got to get going. I got to get on the road because gas prices are too expensive here. So I’m leaving the state.
All right, the economic ninja is out. .