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We already have the biggest oil surpluses ever recorded, and it's just going to get bigger: https://oilprice.com/Energy/Crude-Oil/Largest-Oil-Glut-In-History-C

• ars 7y ago
  Oil prices seem to be about half of what they were in Jan - but gas prices don't seem to have fallen as much. Any idea why?
  • 01100011 7y ago
    Gas prices can include significant taxes. I'm guessing it also takes a while for the lower prices to propagate through the system. You also have refinery bottlenecks, so even though we might have lots of crude, we don't have a glut of refined gasoline yet.
    • theandrewbailey 7y ago
      There's costs to refine (requiring lots of energy input) and to transport the gas, too.