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Started By
Message
Get ready for $5-a-gallon gasoline
Posted on 4/9/24 at 8:28 am
Posted on 4/9/24 at 8:28 am
LINK
quote:
The oil-price gains are the products of four forces:
Middle East tensions. Iran and others are threatening a number of retaliatory measures, possibly shutting down the Strait of Hormuz in the Persian Gulf to tankers heading out out to Europe and elsewhere. Iran's interest is retaliation against Israel and the U.S. after an Israeli attack on Iran's embassy in Damascus, Syria, killed two Iranian generals.
Global supply disruptions. Russian oil refineries have been hit by Ukrainian drone attacks. Houthi attacks on ships moving in and out of the Red Sea have slowed shipping generally and oil shipments in particular to Europe and Asia. In some cases, shipping companies have routed their vessels all the way around Africa.
OPEC and friends want higher prices. Members of the Organization of Petroleum Exporting Countries and the OPEC+ countries are trimming output to push prices higher. They will probably leave production cuts in place when the cartel meets in June.
More demand for gasoline and other products. Increased demand reflects continued economic growth in the Americas and more demand in both Europe and China, says Tom Kloza, global head of energy analysis at Oil Price Information Service.
Blocking the Strait of Hormuz: 'A show stopper'
Closing down the Strait of Hormuz would cause crude oil prices to jump by $40 a barrel, Robert McNally, founder of Rapidan Energy Group, has said in multiple interviews in the last week. "It would be a show stopper," he told Bloomberg.
That's show stopper as in recession. How severe is anyone's guess.
The big question is whether Iran and Hezbollah, the Iran-backed group, really want to do something that would hurt not just Israel and the U.S. but everyone in the Persian Gulf region.
Posted on 4/9/24 at 8:37 am to LSUDVM1999
Inflation will only get worse while the potato is in office.
Posted on 4/9/24 at 8:40 am to theunknownknight
Its already 5 in Ca
Its 4.18 for premium in FL
Its 4.18 for premium in FL
Posted on 4/9/24 at 8:41 am to LSUDVM1999
Need to get some more Biden stickers for the pumps!
Posted on 4/9/24 at 8:41 am to Achilles Hill
quote:
Muh oil stocks……$$$$
Punch these sellouts in the face.
Posted on 4/9/24 at 8:59 am to RogerTheShrubber
Sell outs?
The owners of the companies that make your current lifestyle possible.
If you don’t like it maybe you can hop on your horse and get along.
The owners of the companies that make your current lifestyle possible.
If you don’t like it maybe you can hop on your horse and get along.
Posted on 4/9/24 at 9:16 am to LSUDVM1999
The article doesn't appear to mention the current US administration's energy policies and their contribution to rising gas prices.
Almost like they dont want you to remember or something.
Almost like they dont want you to remember or something.
Posted on 4/9/24 at 9:56 am to Herschal
The libs like to point out how others complain about high prices even though there’s equal production of fossil fuels. They do not calculate processes involved, consumption or even storage. It’s not just energy they don’t understand, they can’t rationalize anything but feelings and not to great at that either
Posted on 4/9/24 at 9:57 am to momentoftruth87
quote:
Inflation will only get worse while the potato is in office.
Greedflation.
Posted on 4/9/24 at 9:59 am to LSUDVM1999
We are already there in Washington. Highest gas prices in the country.
Jay Inslee's climate bullshite made gas go up $0.70/gallon the second it was signed.
The ONLY thing preventing a mass exodus right now is the fact that there is no state income tax.
Jay Inslee's climate bullshite made gas go up $0.70/gallon the second it was signed.
The ONLY thing preventing a mass exodus right now is the fact that there is no state income tax.
This post was edited on 4/9/24 at 10:00 am
Posted on 4/9/24 at 10:05 am to SDVTiger
quote:
Its 4.18 for premium in FL
$3.69 for low grade this morning in Bradenton
Posted on 4/9/24 at 10:15 am to LSUDVM1999
It is going up...I paid $2.85 at my local gas station yesterday...up about $0.16 in the last 2 weeks.
Posted on 4/9/24 at 10:17 am to madmaxvol
I paid $4 (87 octane) yesterday. It hasnt changed here in a few years.
Posted on 4/9/24 at 10:18 am to LSUDVM1999
The problem at this point is that Americans are so fricking stupid economically that nearly half of them believe the shite caused by Democrats is just businesses being greedy. So they demand MORE of the cause!!!
Posted on 4/9/24 at 10:28 am to LSUDVM1999
quote:
OPEC and friends want higher prices. Members of the Organization of Petroleum Exporting Countries and the OPEC+ countries are trimming output to push prices higher. They will probably leave production cuts in place when the cartel meets in June.
This is the primary driver - OPEC curtailments, which were first implemented to get the price up from the low $70s.
Posted on 4/9/24 at 10:39 am to cwill
you actually think, $70 per barrel is low?
Posted on 4/9/24 at 10:45 am to LSUDVM1999
$5.49 for regular unleaded in California on the way to work.
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