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Monday, July 31, 2023

Gasoline Prices At 8-Month High -- Ms Granholm -- You Had One Job -- The High Price Of Gasoline? Refinery Outages Due To Hot Weather -- July 31, 2023

Locator: 45260GASOLINEDEMAND.

Link here and if it's Charles Kennedy, you know it's gonna be good.

Looks like the high price of gasoline is affecting a lot of travel; a lot of summer vacations have morphed into stay-cations. Thank you Ms Granholm and Mr Biden. 

By the way, we reported it on the bog last week!

As I've said a gazillion times, the high price of gasoline has nothing to do with release of oil from the SPR.

It's all about refineries and their capacity. 

“Gas prices suddenly soared over the last week due to heat-related refinery outages that impacted some of the largest refineries in the country, at a time when summer gasoline demand peaks and as gasoline inventories slid to their lowest July level since 2015,” ....

That same source said the release of oil from the SPR had come to an end and that also contributed to high gasoline prices, but of course, that makes no sense, and why I don't follow that analyst on twitter any more, either.

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