Remember when gas pumps had only enough digits to calculate a maximum of 99.9 cents per gallon No one back then [when the pumps were installed] ever envisioned prices of more than a dollar
Summer. Refineries have to root around in their recipe boxes to switch to the summer blend - which is spendier. Many of them also do shutdown maintenance work then. Supply and demand. Be thankful that you drive a Prius.
According to this article, until now glut of winter blend gas has pushed price down artificially. Now, it's gone, the pricier summer blend is flowing in the pipeline. Gasoline prices rise as winter fuel glut ends | Local News | qctimes.com
There is a huge regualtory change coming to reality, the ocean vessels have to swtich to low sulfur diesel (or scrubbing) starting later this year instead of using high sulfur bunker fuels. Industry has been preparing for this probably well over 10 years now. So that change forced some maintenance into the spring, and is probably going to make gaso and diesel in greater demand. Also some unplanned refinery outages at the moment. USA was never too big on bunker fuels, because we always cracked bunkers down for more gaso. So to some extent, most of those bunker fuels were purchased from overseas refineries. I am not clear on US impact, but probably there is an impact. And not to mention, February is almost always the low price point of the year. Missed my $1 prediction yet again.
Not necessarily here. I still have to look at posted prices to stay under the CA average of $3.35. Numerous stations here are in the $3.4x - 3.5x range, with one nearby station even at 3.79.
Several refineries have had major fires in the last week, the was a major fire a a local refinery near me In Wisconsin last year. That refinery has been shut down for repairs ever since. It’s not expected to be back online till late 2020. Also crude oil was at a high of $76.20 per barrel back in mid October. 10 weeks later it bottomed out at $42.00. Over the last 10 weeks it’s been on a steady trend increase and is now just below $60.00. Crude prices have a direct effect on refined gasoline prices. Spring maintenance and other unexpected accidents play negatively on Supply side of the equation too. iPhone X ?
