- With production up and demand down, the basics of supply and demand indicate that oil prices should be falling. Americans should be paying less at the pump.
- What gives?
- Two main forces are driving fuel prices upward in the United States: high global oil prices and the state of the US oil transportation and refining industry.
- The system’s disconnectedness means that refiners in different regions are forced to pay whatever the price may be for the crude oil they can access – and those prices differ significantly.
- As for high oil prices in general, the biggest question there is Iran.
Al Fin: "Cowboy Commentary", aka "Eat your veggies" The Flag banner is posted in order to defy those who would make patriotic symbols illegal or disreputable.
Monday, April 9, 2012
The Story Behind US Gas Price Pain
mining.com h/t Instapundit
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