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Thread: Gas up 18% since election, could surpass $4 under Biden

  1. #51
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    Gasoline prices were depressed under Covid-19 because demand for gasoline and hence oil dropped, however Middle East Oil producers didn't rein in production. In May 2020, OPEC scaled down production to boost prices. US oil is traded the same as any other oil and those prices are driven by global crude prices. Winter heating increases the demand for oil, however OPEC has not markedly increased production, causing the global price of crude to rise.


    The global price of crude, not demand for gasoline, is driving higher gasoline prices. It has nothing to do with who is President.
    In quoting my post, you affirm and agree that you have not been goaded, provoked, emotionally manipulated or otherwise coerced into responding.



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    Quote Originally Posted by Dr. Who View Post
    Gasoline prices were depressed under Covid-19 because demand for gasoline and hence oil dropped, however Middle East Oil producers didn't rein in production. In May 2020, OPEC scaled down production to boost prices. US oil is traded the same as any other oil and those prices are driven by global crude prices. Winter heating increases the demand for oil, however OPEC has not markedly increased production, causing the global price of crude to rise.


    The global price of crude, not demand for gasoline, is driving higher gasoline prices. It has nothing to do with who is President.
    Democrat states started raising the gas tax for their states before Trump left office. While the Wuhu was raging.
    History does not long Entrust the care of Freedom, to the Weak or Timid!!!!! Dwight D. Eisenhower ~

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    Quote Originally Posted by donttread View Post
    You mean slashing interest rates into the teeth of an out of control housing market was not sound fiscal policy? LOL
    Not what I said.
    ΜOΛΩΝ ΛΑΒΕ


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