Wednesday, March 16, 2022

G_Prices

 President Biden has been price-shaming oil companies because

gas prices are not going down as much as one would think reasonable given

lower crude oil prices. This might be shrewd politics, but it is poor

economics.

https://www.cnn.com/2022/03/16/business/gas-prices-biden/index.html


Daily price changes are a result of wolesale crude, wholesale refined and

production costs. Crude oil is largely traded on a futures market,   and

various brands have contracts for refined crude ie gasoline. See the explanation

from ShellOil Canada, below. Heck, it might just be nicer weather is stoking

demand...

https://www.shell.ca/en_ca/motorists/my-fuels/understanding-fuel-pricing.html

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