Quote:
Originally Posted by MrFlorida
And who do we have to thank for that?
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Putin for starting the war, futures traders for running the price up, and gas stations for taking advantage of the situation.
- While there is a slight increase in demand due to nicer weather in the south, that can't account for the tremendous increase in price.
- People point to the import of Russian oil but that has not been cut off for the US or, I believe for Europe - there is no less supply of oil.
- Some want to blame the Keystone XL but that hasn't changed the supply or demand in the last week.
The only thing that has changed is Putin started a war and the market decided that means there will be an oil and gas shortage and so the price should go up.
Two days ago we bought gas at $3.59, yesterday it was $3.79, and today $3.99. Did the stations sell so much fuel that they refilled their tanks twice already with more expensive product? Or, are they still selling the same fuel today but at $0.40 per gallon more than they were selling it for two days ago?