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Both a flat $1 increase. The large differences in nationwide gas prices don’t really apply to the increase we are feeling from the Iran war. The price is basically increasing flat across the board because the other differences are remaining constant but the cost of a barrel is still increasing by the same amount everywhere.
My 2 cents though. Someone feel free to tell me I’m wrong.
It’s useful to show the impact is felt harder by proportion in red states. But, yes, it’s definitely using an existing price difference that exists already. The impact is worse in red states because of the pre-existing price difference. The map implies that the red states are somehow being targeted in some way that is different than in blue states. There are likely some impacts on a per state basis that are not making it as simple as my $1 increase example. But, oil is a global commodity. The price spike is going to be felt relatively the same everywhere when none of the oil we get in the US is even really coming from the Strait of Hormuz. We’re just feeling the global price increase mostly. And not really having to deal with supply issues like East Asia is.
$2 a gallon. 50% increase means $3 a gallon.
$4 a gallon 25% increase means $5 a gallon.
Both a flat $1 increase. The large differences in nationwide gas prices don’t really apply to the increase we are feeling from the Iran war. The price is basically increasing flat across the board because the other differences are remaining constant but the cost of a barrel is still increasing by the same amount everywhere.
My 2 cents though. Someone feel free to tell me I’m wrong.
You nailed it. Percent increase is a terrible metric when the starting values are dissimilar but subjected to similar forces.
It’s useful to show the impact is felt harder by proportion in red states. But, yes, it’s definitely using an existing price difference that exists already. The impact is worse in red states because of the pre-existing price difference. The map implies that the red states are somehow being targeted in some way that is different than in blue states. There are likely some impacts on a per state basis that are not making it as simple as my $1 increase example. But, oil is a global commodity. The price spike is going to be felt relatively the same everywhere when none of the oil we get in the US is even really coming from the Strait of Hormuz. We’re just feeling the global price increase mostly. And not really having to deal with supply issues like East Asia is.