Wednesday, September 28, 2022

Gasoline

The government has removed 200 million barrels of oil from the strategic oil reserve and is taking out 10 million barrels a week. This has lowered the reserve to the lowest point since 1984. The purpose is to bring down the price of gasoline and it is working as the price is now down over a dollar per gallon. This will continue until the election after which time it will stop and hopefully the production will catch up with demand and the price will stabilize. If the world's economies slow down this will reduce demand and that will help keep the price down.

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