Where are Idaho Gas Prices Going?

I noticed a pump price below 2.90 a gallon in Twin Falls.  It was 2.85.9 to be precise. It was early Friday morning as I drove to work.  If you’re like me, you probably can’t place the last time you saw prices that low; you only know it was probably more than four years ago.  For all the talk about the cost of living, fuel prices play a significant role in determining the prices of products on the shelves.  After the Great Recession 16 years ago, I remember that I read a story about low fuel prices keeping us out of a depression.  It was attributed to fracking, which happened despite Barack Obama.

One Crisis Can Bring an End to Low Costs

There are many predictions about pump prices dropping considerably more next year.  But in the words of a former British Prime Minister, “Events, dear boy, events!”  He was responding to a reporter’s question about how quickly the political scene may change.  This is a link to a writer reminding us that the unexpected can derail the best hopes.  These are often called black swan events.  COVID is said to be one of those unforeseen events.  However, I read strong arguments from many that even if it was an accidental release of an engineered virus, there were powerful interests that weaponized the crisis.

The GOP Prays the Trend Continues

If we get to the range of two dollars a gallon by July, the predicted slaughter of Republicans in the midterm election probably won’t happen.  But keep in mind, Americans have been groomed by modern technology to expect instant gratification, and politicians who promise it often pay when they don’t deliver.