Prices.... Going Up!!!

[Mystic]

Wholesale prices of ULSD dropped quite a bit this month.

All of the petro-based liquids are falling fast. As of 6:10pm Paris Time on 25 September 2022:



Diesel price not included @ this index but yeah, the price of ULSD is also falling. Fast.

Oops, I see I grabbed up and included NAT GAS. For what it's worth, it, too, is down.

Might as well have a look at coal:



Also down.

Dang, NRG sector commodities be gettin' burnt (chuckle).

 

[Mystic]

Aside of sorts:

For the last several years, acquaintances in France and Luxembourg have expressed a mix of amusement, concern and superiority/cockiness about the fact that I, an economist, have continued working for a university in the USA, and am thus paid in the lowly USD, while they in their EU-based jobs earned the "superior" Euro thing.

How's that going for them today?

As of 10:46 AM PARIS TIME on 26 September 2022:


And looking out to Q2/2023:


I'll keep my "day job" @ USA Inc.

NB: I also have an appointment @ a university in Luxembourg, so I, too, am being paid in the now lowly -- and falling -- Euro.

 

[YY1]

The price spike also lines up with a huge drop in domestic production.
View attachment 2671769

That's a very interesting chart.

I wonder what caused the massive upturn circa 2010.

It also suggests we're right where we should be if you continue the 80's/90's gentle upward curve.

 

[invaderzim]

That's a very interesting chart.

I wonder what caused the massive upturn circa 2010.

It also suggests we're right where we should be if you continue the 80's/90's gentle upward curve.

Shale drilling in 2012 was behind the increase.
I'm not sure it is beneficial having it go back to lining up with minor growth on historical production levels.
One problem with the drop is it gave pricing power back to OPEC. We had taken much of that away when our production increased so much.

 

[BillyTheKid]

Aldi eggs down to $2.19 dozen.

 

[kryten79]

Federal spending has actually been dropping since 2020, a banner year by most measures.
Deficit spending that year represented 15% of the GDP.
So far, it looks like that number will be under 6% this year.

Hmmnm, What???
from https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287
End of Fiscal Year Debt (in billions, rounded) Debt-to-GDP Ratio Major Events by Presidential Term
2016 $19,573 105% Brexit
2017 $20,245 104% Congress raised the debt ceiling
2018 $21,516 105% Trump tax cuts
2019 $22,719 107% Trade wars
2020 $27,748 129% COVID-19 and 2020 recession
2021 $29,617 124% COVID-19 and American Rescue Plan Act

 

[45rpmspinner]

Hmmnm, What???
from https://www.thebalancemoney.com/national-debt-by-year-compared-to-gdp-and-major-events-3306287
End of Fiscal Year Debt (in billions, rounded) Debt-to-GDP Ratio Major Events by Presidential Term
2016 $19,573 105% Brexit
2017 $20,245 104% Congress raised the debt ceiling
2018 $21,516 105% Trump tax cuts
2019 $22,719 107% Trade wars
2020 $27,748 129% COVID-19 and 2020 recession
2021 $29,617 124% COVID-19 and American Rescue Plan Act

The figures you've posted reflect total debt.

The percentages I posted have to do with yearly deficit spending as compared with yearly GDP.
Thus the different numbers.

However, you do realize that the numbers you posted show a 5% drop in the ratio of total debit to GDP in 2021 as opposed to 2020?
Using that metric, so far, it looks like that number will drop another 10-12% this year.

I'd say that counts as a decrease in government spending since the 2020 high mark.

 

[SolderIron]

Rats! Gas is above $5 again, and stocks are going down again.

 

[BillyTheKid]

Gas at $3.39 around here.

 

[Erik Tracy]

Gas was $5.49 here on Friday.

Too much spending, impeding production, and the FR struggling to decimate demand with int rate increases yet to come. Hooray for us!

 

[OnTheBlitz]

"The new normal"

 

[Erik Tracy]

"The new normal"

Which implies "entrenched inflation" - which was a bad thing, until that gets redefined.

 

[Mystic]

Price of housing still rising ... but more slowly in USA:

The Standard & Poor CoreLogic~Case-Shiller 20-City Home Price Index (US) increased 16.1% year-on-year in July of 2022, the third consecutive month of price deceleration.

The increase is also below market forecasts of a 17% increase.

It is the smallest increase in home cost since April 2021, with all 20 cities reporting price deceleration, as the Fed continues to move interest rates up, making mortgage financing more expensive.

Prices in Tampa (31.8%), Miami (31.7%), and Dallas (24.7%) rose the most, while prices in Minneapolis (9%), Washington (9.4%), and San Francisco (10.8%) rose the least.

The National Composite Index rose by 15.8% in July, following an 18.1% hike in June. The -2.3% difference between those two monthly rates of gain is the largest price deceleration in the history of the index.

According to Craig J. Lazzara, Managing Director of Standard & Poor / DJI: "Given the prospects for a more challenging macroeconomic environment, home prices may well continue to decelerate."

 

[usedto]

At the local grocery store:

 

[parman]

Gas jumped .32 here in eastern NC yesterday to $3.99

 

[OnTheBlitz]

At the local grocery store:

View attachment 2675482

 

[stereofanboy]

Yesterday gas was up six cents from the lowest point of the recent decline.

I keep reminding myself that lowest point is still 1 1/2 times what it was about 20 months ago. I knew the decline was temporary, but I figured it'd hold out for a few more weeks.

 

[Erik Tracy]

Gas just recently spiked in San Diego - now $6.18 for midgrade at my local station. Ouch.

 

[GChief]

We stayed the same here. On the way home from work todsy it was the same as the last 3 days, from $3.01 to $3.19 depending on where your at.

Do have an Exxon that is always high by the house $3.52 for about a week now.

 

[OnTheBlitz]

Enjoy:

Edit: Yes, I'm an ass