Up 10% in a month.

So how high does it go?

Will Biden completely drain the SPR to mitigate the rise, which is at a 40 year low already?



eta, for reference:

my local station:

$5.29 for premium today

GAS PRICES

https://oilprice.com/Latest-Energy-News/World-News/US-Aims-to-Restock-Strategic-Oil-Reserves-by-Year-End.html

The Biden Administration aims to have crude in the Strategic Petroleum Reserve (SPR) back up to the levels before the massive sales of 180 million barrels in the past two years, U.S. Energy Secretary Jennifer Granholm said at the CERAWeek energy conference in Houston.
...
The U.S. Department of Energy expects only 40 million barrels to be refilled by the end of this year, but the other 140 million barrels of crude will stay in the SPR after a cancellation of congressionally mandated sales from 2022, according to Reuters.
...
The Administration continues to target purchases of crude for the strategic reserve at a price of $79 per barrel or below.

Early on Tuesday, the price of the U.S. benchmark, WTI Crude, was over $82 per barrel, at $82.70.

With gas prices rising, no way they refill.

Usually summer blend is more expensive so that could be part of the price increase as we transition. Not saying it is the only reason but it is certainly a factor

I mean, oil prices have increased about 10% or so the last month as well.

Prices will continue to jump significantly. And Biden won't be able to get the Middle East to produce more. He'll likely beg Venezuela to produce more of their dirty oil like last time. Such a terrible president!

zag213004 said:

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Usually summer blend is more expensive so that could be part of the price increase as we transition. Not saying it is the only reason but it is certainly a factor

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Prices go up in the summer because people drive more during the summer than any other time. Demand is higher, prices are higer.

It's hovering around $4 fo diesel right now, which is an absolute crime.

We're awash in energy, you rubes! Stop complaining!

Quote:

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Look, here's where we are. We have the fastest growing economy in the world, the world, the world.....Joe Biden

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money is just another social construct, just swipe your plastic and don't think

LMCane said:

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my local station:

$5.29 for premium today

GAS PRICES

---

Well, you do live in one of the wealthiest places so I'm sure you can handle it.

Break out the "I did that" stickers...

LMCane said:

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my local station:

$5.29 for premium today

GAS PRICES

---

How much of that is Maryland taxes? I bet it's cheaper a few miles away in VA. Or you're getting gas at the most expensive station in your area.

$3.37 @ the HEB in Burleson; up 50 cents over the last 2 weeks

Ukraine targeting Russian refining is another reason that gas has gone up in price - it's not just the summer blend switch-over. Last I heard, they'd knocked out 20% of Russian capacity. I think that they're going after distillation units primarily, which would end up being a bottleneck.

The "congress mandated" sale in 2022 is another lie by the WH spread by MSM.

There are Congress mandated orders in place, but the 2022 action of dumping 190 million barrels (7,980,000,000 gallons - ~8 billion gallons) of oil falls direct under Biden's "Emergency Sales".

https://crsreports.congress.gov/product/pdf/IN/IN11916

But it's going up just a little at a time….

I'm all for throwing the current administration under the bus for anything and everything, but really this has more to do with the increased demand due to spring break and the transition from winter blend to summer blend gasoline.

justnobody79 said:

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I'm all for throwing the current administration under the bus for anything and everything, but really this has more to do with the increased demand due to spring break and the transition from winter blend to summer blend gasoline.

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There are seasonal changes, yes. but....

Notice the average under Trump (to do that you must estimate a horizontal line through the trend). Then notice the average under Biden:

It has everything to do with the numbskull in office:

Trump supporters should be hoping for $5 gas in early November.

This is neither difficult nor new.

Gas prices have to go up early in a presidential election year so gas prices can be brought down closer to the election in order to favor the incumbent.

Quote:

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...
The Administration continues to target purchases of crude for the strategic reserve at a price of $79 per barrel or below.

Early on Tuesday, the price of the U.S. benchmark, WTI Crude, was over $82 per barrel, at $82.70.

---

So the Floor Price is $79. Never going below that as long as Brandon is in charge.

DrEvazanPhD said:

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I mean, oil prices have increased about 10% or so the last month as well.

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blaming the us president for the price of a global commodity is an american tradition older than just about anyone here

tehmackdaddy said:

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This is neither difficult nor new.

Gas prices have to go up early in a presidential election year so gas prices can be brought down closer to the election in order to favor the incumbent.

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it happens every year, presidential election or not

justnobody79 said:

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I'm all for throwing the current administration under the bus for anything and everything, but really this has more to do with the increased demand due to spring break and the transition from winter blend to summer blend gasoline.

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Well refusing to allow permit auctions until forced to by courts, then putting up for auction areas that are known to have little oil does not help supply. Also, passing hundreds of regulations that are designed to slow and hinder production and transportation do not help. This Admin is very anti Oil & Gas and admits it and promises more regs and restrictions against producing.

justnobody79 said:

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I'm all for throwing the current administration under the bus for anything and everything, but really this has more to do with the increased demand due to spring break and the transition from winter blend to summer blend gasoline.

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You may think that's the root cause. But, it's not. And yes, I know what I'm talking about.

The idea that the president impacts every single swing of gas prices is reductive and nave. The idea that presidential policies cannot impact gas/oil prices is inherently stupid.

Fenrir said:

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The idea that the president impacts every single swing of gas prices is reductive and nave. The idea that presidential policies cannot impact gas/oil prices is inherently stupid.

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You are correct, sir! (I really need to learn how to insert .gifs and memes, because this would be much better with a Phil Hartman SNL clip)

redcrayon said:

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LMCane said:

---

my local station:

$5.29 for premium today

GAS PRICES

---

How much of that is Maryland taxes? I bet it's cheaper a few miles away in VA. Or you're getting gas at the most expensive station in your area.

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unfortunately it's not just a "few miles away" in Virginia as there is the Potomac River and the only crossing is the I-495 Beltway which has been under construction the last 5 months.

or Point of Rocks 35 miles away. or Harpers Ferry 50 miles away.

LMCane said:

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my local station:

$5.29 for premium today

GAS PRICES

---

That's because you live in a liberal sh_t hole.

normalhorn said:

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justnobody79 said:

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I'm all for throwing the current administration under the bus for anything and everything, but really this has more to do with the increased demand due to spring break and the transition from winter blend to summer blend gasoline.

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You may think that's the root cause. But, it's not. And yes, I know what I'm talking about.

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the OP led with "up 10% in a month". if you don't think that is due to increased demand and transition to summer blend then you don't know what you are talking about

LMCane said:

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my local station:

$5.29 for premium today

GAS PRICES

---

You should move. I filled up for $2.99 in Magnolia.