A good time to own an EV - Gas Prices about to go nuts [LOCKED DUE TO POLITICS]

[beatle]

It is easy to understand. His position is that anyone who couldn't afford or just doesn't drive an EV is just dragging us all down. Since that is not universally true, using such a blanket statement to describe everyone else is smug and condescending.

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[hammick]

Diesel is through the roof which is going to raise the prices of everything.

 

[UnsungZero_OldTimeAdMan]

wrong. he, like The Count, is out tractoring.

And because the effects of climate change now impact him personally, his position about the environment has evolved. Said just as much himself. Some just don’t know it hurts to be punched in the face until it happens to them.

 

[Gigabit]

I just hope this causes the AI bubble to pop. Not calling for a recession but adding the spike in oil price to my stack of recession indicators cards. Right now this completes my set.

 

[Jonger1150]

Highest prices for regular gas in last 10 years was June 2022. Just under $5/gal. Oil prices at the time were $122/barrel.

Current AAA reg avg is $3.32. We have a ways to go.

$109 now.

 

[Ralph]

I don't want to wildly speculate or get too political, but just saw this while doomscrolling. Does anyone think this sort of thing - if it happens - could negatively affect our friends over at Lucid?

Tbh, I really just hate to see any EV company fail or suffer in this economy - when we should be buying more of them, not fewer.

If the Saudis would divest broadly as suggested, it might hit Rivian as well, since they hold about a 10% stake in the company.

But the Saudi's are sophisticated long term investors who have sought to diversify. So who knows.

I agree with others who say that anything said by anyone connected to the situation is political and manipulative at this point.

Keep your fingers crossed.

 

[DuoRivians]

WTI crude up 25% to $115 lol

 

[mkhuffman]

Cries in California. We've been at low to mid $5s forever now haha.

Anyone care to explain why this is the case?

Is this something CA residents think is OK?

 

[Gen(R3)Xer]

It's short term effect. Both oil and gas prices will drop before the summer driving season.

I always thought the gas prices dropped in the winter because they’re using a less refined, dirtier crude to make Winter blend. Summer blend is more refined and as a result more expensive to produce. Also fuel companies like to jack up the prices during Summer travel season.

 

[Cycliste]

Anyone care to explain why this is the case?

Is this something CA residents think is OK?

California state gas tax is $0.7092 per gallon and it is set high to discourage driving with internal combustion engines, so we have less smog among other reasons

 

[Thedude]

Anyone care to explain why this is the case?

Is this something CA residents think is OK?

I’d imagine at least 50% of them do or else different politicians would be in office and not approving tax hikes.

 

[Time2Roll]

Anyone care to explain why this is the case?

Is this something CA residents think is OK?

California has 23% domestic oil supply, 16% from AK, and 61% foreign $$$$ imported.

Special formulations to reduce smog due to the topography that traps smog from just drifting away. Big mountain range the entire length of California.

California also supplies 88% of the gasoline to Nevada and 33% of Arizona's gasoline. Might help if these could be connected to Cushing instead.

Yes the taxes are high. So are the road costs that need to be expanded including many areas with earthquake risk and expansive (moving) soil.

Many locals call the high gas prices the sunshine tax.

 

[Thedude]

California state gas tax is $0.7092 per gallon and it is set high to discourage driving with internal combustion engines, so we have less smog among other reasons

I’m not sure that line of reasoning holds up. If I read the EIA data correctly CA gasoline sales have been pretty consistent at right around 40,000,000 gallons per day since the 1980s. Quick reference to other metrics (population up 65%, CAFE standards up from 20mpg to 43.5mpg and stricter EPA rules) suggest the taxes aren’t really changing how many miles people drive with ICE vehicles and the reduction in smog isn’t a result of a fuel tax.

 

[Time2Roll]

I’m not sure that line of reasoning holds up. If I read the EIA data correctly CA gasoline sales have been pretty consistent at right around 40,000,000 gallons per day since the 1980s. Quick reference to other metrics (population up 65%, CAFE standards up from 20mpg to 43.5mpg and stricter EPA rules) suggest the taxes aren’t really changing how many miles people drive with ICE vehicles and the reduction in smog isn’t a result of a fuel tax.

If the fuel economy is doubled and the same fuel is burned that would be 2X the miles driven.... more roads to build & maintain.

 

[SANZC02]

California state gas tax is $0.7092 per gallon and it is set high to discourage driving with internal combustion engines, so we have less smog among other reasons

It is a little more complicated than that. Most of the fees are percentages based on price so are variable. For instance below example is based on a price of 4.18 and taxes and fees are around 1.04. Like anything government it is not really straight forward as some percentage include excise taxes, some do not. But the higher the price is the larger the governments share.

Triple A has California average on 3/8/2026 at 5.159 so fees on that would be around 1.24 give or take.

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