re: National Gasoline and Diesel Prices Tumble Week over Week; Saving Americans $$

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I guess Trump never refilled the strategic reserve that Biden siphoned away

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Lowest it has been since 2024....

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For week ending May 15, 9.9 million barrels left the SPR, bringing the new total to 374.2 million barrels-the largest single-week drawdown in history and the lowest level since July 2024 and 351 million barrels shy of maximum capacity.

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It will rebound this time next year though. The loans were to repaid in about a year. Then we will get how the SPR was filled faster than any other time. (Likely refills will get delayed due to logistics)

This is the truly bad part though

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Gasoline inventories saw a draw this week of 5.8 million barrels in the week ending May 15. In the week prior, gasoline inventories grew by 502,000 barrels. As of last week, gasoline inventories were already 5% below the five-year average for this time of year, according to the latest EIA data.

Distillate inventories fell by 1 million barrels, after shedding 319,000 barrels in the week prior. Distillate inventories were already 9% below the five-year average as of the week ending May 8, the latest EIA data shows.

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It’s just the same old same old in the USA.