Part of it. Refinery capacity is at its lowest since ~2014

May 19, 2022
8:17:17am

HuskerFan2 Verified ✔️

Equipment and ramp-up times are slow and now even more expensive. Biden's SPR release as well as his ruling about ethanol did absolutely nothing.

Business Insider

Here's why gas is more expensive than ever even though oil prices are down

Crude oil supply has rebounded, but Americans aren't feeling it at the pump. That's because refiners are charging record prices to turn oil into gas.

https://www.businessinsider.com/why-gas-prices-so-high-crude-oil-market-crack-spreads-2022-5?op=1

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HuskerFan2

Bio page: HuskerFan2
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Last login: May 1, 2024
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Messages

Author

Time

Why is the price of oil per barrel lower than it has been historically yet gas

stenso

5/19/22 8:03am

They realized that people are willing to $5 a gallon so why lower it?

IBC

5/19/22 8:05am

Willing? No. Captive? Yes

Turnpike Lane

5/19/22 8:10am

Because they can blame it on Russia and make a lot of money

Cougz19

5/19/22 8:07am

Yes that makes perfect sense if you don't believe in basic economic theory.

Baron

5/19/22 8:09am

TNT knew Russians were trouble when he watched For Your Eyes Only

TNT

5/19/22 8:09am

Legit question

Turnpike Lane

5/19/22 8:09am

Supply chain issues? Also, are you comparing real prices to real prices?

Baron

5/19/22 8:09am

Part of it. Refinery capacity is at its lowest since ~2014

HuskerFan2

5/19/22 8:17am

At least some of the spr oil is going to Europe

dex13

5/19/22 1:23pm

Transport costs are higher due to high fuel costs.

dYrtbYkerYder

5/19/22 8:10am

which fuel costs which increases transport costs which increases fuel costs

Pro Logic

5/19/22 8:14am

Inflation in the other associated costs & gas taxes.

RdF3

5/19/22 8:11am

Wonder how much taxes have changed over time

Dr T-bone

5/19/22 8:11am

Everything else is higher. The land the gas station sit on is

cougarfann888

5/19/22 8:11am

Time has a factor here

Cosmokid

5/19/22 8:14am

A guess: the oil for sale now is not the oil that has been refined and is now

Socrates Johnson

5/19/22 8:15am

It's still a supply and demand thing. Less oil supply is driving up the crude

JuicyJam

5/19/22 8:20am

Tax hikes, lower refining capacity and myriad other things

2FarGone

5/19/22 8:21am

Gas supply is very low now. Not all oil is used to make gas.

Dangerous

5/19/22 8:31am

The article above says supply isn’t an issue

kotacoug

5/19/22 8:38am

EIA data shows gas stocks are 8% below 5 year average

dex13

5/19/22 1:01pm

Obviously it is Putin's fault.

RexIdaCoug

5/19/22 8:35am

Myriad of reasons. Cost of labor, uptick in other costs associated with

homegrown

5/19/22 8:47am

Paying off politicians that want to ruin your business model isnt cheap.

panacablue

5/19/22 8:58am

ESG impact on oil company capital investments, esp refineries also plays a part

NavyCougar

5/19/22 10:58am

No doubt. It's not a growing industry. Big capital investments are harder and

Here's why gas is more expensive than ever even though oil prices are down

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