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One of the main issues is that recent gasoline prices are not following historic trends against crude oil prices. A barrel of oil right now is close to 2014 pri
by clysm 4y ago
One of the main issues is that recent gasoline prices are not following historic trends against crude oil prices. A barrel of oil right now is close to 2014 prices, but a gallon of gas is not. The difference is being seen as profiteering off of global fear and not due to natural market forces.
https://www.macrotrends.net/2501/crude-oil-vs-gasoline-prices-chart https://www.macrotrends.net/2501/crude-oil-vs-gasoline-price...
- leereeves 4y agoPerhaps because U.S. oil refining capacity has fallen 5.4% since 2019. https://www.reuters.com/business/energy/us-oil-refining-capacity-drops-2021-2d-straight-year-eia-2022-06-21/ https://www.reuters.com/business/energy/us-oil-refining-capa...