GAS PRICES MAY TAKE SOME TIME TO COME DOWN:

That’s because the wholesale price of oil jumped as refiners tried to stock up on their supply. They paid high prices for this crude oil and those prices will be passed along to customers, even if future oil shipments are lower.

Source: Wall Street Journal

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HumanEarth · F

I've been waiting for 50 years for 48 cents a gallon

whowasthatmaskedman · 70-79, M

If anything I say this statement is wildly optimistic. If the covid supply chain dramas taught us anything is it that a shortage represents a profit opportunity for the big corporations. I predict that when prices do return to "normal", it will be higher than normal was before..😷

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PoohSmasher

Such BS. The US are stealing Venezuela oil for free right now.

JSul3 · 70-79

@PoohSmasher Are you aware that US consumers do not use the oil from Venezuela?

PoohSmasher

@JSul3 Did you see the notice that Chevron is now processing it? You telling me Chevron in USA is not using their own gas? Highly doubt that.

JSul3 · 70-79

@PoohSmasher

"It's far too early for any measurable impact on what consumers are paying at the pump — whether prices go up or down — as it would likely take years to see a meaningful increase in oil output there," wrote Patrick De Haan, head of petroleum analysis at GasBuddy, in their weekly price update.

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