Tag: American Automobile Association

U.S. Gasoline Prices Continue To Climb

Tina Marie (Ms. Cat)

U.S. Gasoline Prices Continue To Climb

“Macroeconomic factors have continued to weigh on oil and refined products, as strong demand in China hasn’t been slowed much by a surge in new Covid cases. In addition, releases of crude oil from the Strategic Petroleum Reserve have wrapped up. Concerns are increasing that without additional oil, supply will tighten in the weeks ahead, especially as the nation starts to move away from softer demand in the height of winter. Moving forward, it doesn’t look good for motorists, with prices likely to continue accelerating,” DeHaan added.

U.S. Strategic Petroleum Reserve Falls To 35-Year Low as American crude heads overseas at a record pace

Tina Marie (Ms. Cat)

U.S. Strategic Petroleum Reserve Falls To 35-Year Low

According to the Institute of Energy Research, the SPR is expected to shrink to a 40-year low by the end of October, with inventories then at 358 million barrels, compared to 621 million barrels a year ago.

Related:

US oil exports to China and India jump as American crude heads overseas at a record pace

The only thing that climbed as high as gas prices earlier this year was the disapproval of US President Joe Biden 😂

Biden was wrongly blamed for rising gas prices. But he doesn’t deserve much credit for the drop