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| Economy |
| The Federal Morons Have Fixed It So Gasoline Won't Come Down Until The Economy Does |
| 2022-05-24 |
| [Hayride] That’s not our opinion, it’s that of Oilprice.com... U.S. gasoline and diesel prices are soaring to record highs nearly every day these days, as crude oil prices hold above $110 a barrel, the Russian invasion of Ukraine upends global crude and refined product trade flows, and refinery capacity globally is now lower than before the pandemic after some refineries—including in the United States—closed permanently after COVID crippled fuel demand in early 2020. There isn’t a quick fix for all-time high fuel prices in America— or elsewhere — analysts say. The quickest fix is actually not one American consumers would want — a recession that would lead to job losses. Despite the Biden Administration’s months-long efforts to lower gasoline prices — including massive releases of crude from the Strategic Petroleum Reserve (SPR) and blaming oil companies for price gouging — U.S. refineries cannot catch up with demand. Not that demand has soared so much. It’s the capacity for supply, globally and in the U.S, that is now a few million barrels per day lower than it was before the pandemic. |
| Posted by:Besoeker |
| #6 Ave price in CA now over $6/gal; average price in NY and IL likely to his $5/gal soon. Trying to slow down people seeking to escape? |
| Posted by: Procopius2k 2022-05-24 12:51 |
| #5 ...Interestingly, prices slipped about 10-20 cents a gallon here yesterday - most places now down to 4.19, some as low as 4.09. Mike |
| Posted by: MikeKozlowski 2022-05-24 11:50 |
| #4 Paid $4.799 for mid-grade this morning on the Space Coast. |
| Posted by: M. Murcek 2022-05-24 10:28 |
| #3 good place to watch gasoline prices by State is the AAA site https://gasprices.aaa.com/ Ave price in CA now over $6/gal; average price in NY and IL likely to his $5/gal soon. |
| Posted by: Lord Garth 2022-05-24 10:25 |
| #2 Environmentalists cheer. They want gas up to $20/gallon. Because fuck the little people. |
| Posted by: Bertie Lumumba1577 2022-05-24 09:27 |
| #1 For the love of God, the economy will not recover unitil the price of energy goes down. Asshats! |
| Posted by: 49 Pan 2022-05-24 07:53 |