[mordymoop]

Interestingly, in inflation-adjusted terms, oil is currently at a price level lower than the price level that was maintained from 2006-2014.

[_diyar]

Which inflation measure are you referring to? Because of course petrolium products directly (gas, heating) and indirectly (cost of shipping) contribute to the effective price of most consumer baskets.

In other words, this might be true because the “inflation-rate“ was high, but it was high because the cost of oil went up.

[jollyllama]

> In other words, this might be true because the “inflation-rate“ was high, but it was high because the cost of oil went up.

No way. Housing and food have gone way up from Obama-era levels, but gas has yet to even come close to the cost at the time.

Edit: If anything, it's really the opposite. Cheap gas has been holding down inflation estimates.

[_diyar]

Do you believe the price of housing and food is unrelated to the cost of oil?

[jollyllama]

For the time period in question, practically, yes, because the price of housing and food went up while the price of oil stayed flat.

[KaiserPro]

This is true, but its not necessarily the price, its the doubling over night.

[rootusrootus]

I think we are likely to see really low oil prices in the future, for a while. Electrification of transportation is proceeding so quickly in some regions that demand is falling for oil.

[tokai]

The global market a a good deal bigger, so it is much more money over all being demanded of the market buyers.