Oil Prices Are Dropping — Will Gas Prices Go Down, Too?

G

gemini104104

Verified User
I realize there continues to be this conspiracy of escalating oil prices to make President Biden look bad, which is basically the fault of external and internal enemies and their war mongering ways. Yet, the following details that might reflect on the relevancy of this campaign of possibly more of that sewer type and tRump orange streak sewer type propaganda, in particular, information at playing the escalating oil price game:

Oil Prices Are Dropping — Will Gas Prices Go Down, Too?

Americans could start to see some relief at the gas pump as elevated oil prices are starting to show signs of decline.

Gas prices have soared to its highest level in more than a decade since the Russian invasion of Ukraine began on February 24, which has thrown global markets into a tailspin as Russia is one of the world's largest oil producers.

In the United States, a majority of the costs imposed at the pump is derived from the price of crude oil. West Texas Intermediate, which serves as the U.S. reference point for oil prices, hit above $130 per barrel earlier this month, but dipped below $100 during trading on Monday, March 14."
https://www.newsweek.com/oil-prices-...wn-too-1687910
 
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Jack said:
Glancing at my Magic Eight Ball ... the answer is; 'No'. :(
Click to expand...

Great satire, not and nothing of relevance to expand on it either. Yet, that's what trolls do when they have nothing to add in terms of facts. Now refer to your so-called magic eight ball for a fool to get the real following answers, as in a great possibility:

The top three producing countries in 2020—the U.S., Saudi Arabia and Russia—accounted for 43% of the world’s petroleum liquids production. The top five producers also including Canada and China accounted for 54% of the global output.

KEY TAKEAWAYS
Despite continuing growth in renewable energy, oil production continues to play a key role in the global economy.
According to the most recent data, the top five oil-producing nations are the U.S., Saudi Arabia, Russia, Canada, and China.
The United States became the world's top petroleum liquids producer in 2013 and the world's top crude producer in 2018.
Russia's production has been held back by Western sanctions but its clout in the global oil market increased after it formed the OPEC+ alliance with Saudi Arabia and other key exporters.
China's production meets just over a third of its oil consumption. leaving it the world's largest petroleum importer.

https://www.investopedia.com/invest... to the most recent,Russia, Canada, and China.
 
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gemini104104 said:
Great satire, not and nothing of relevance to expand on it either. Yet, that's what trolls do when they have nothing to add in terms of facts. Now refer to your so-called magic eight ball for a fool to get the real following answers, as in a great possibility:

The top three producing countries in 2020—the U.S., Saudi Arabia and Russia—accounted for 43% of the world’s petroleum liquids production. The top five producers also including Canada and China accounted for 54% of the global output.

KEY TAKEAWAYS
Despite continuing growth in renewable energy, oil production continues to play a key role in the global economy.
According to the most recent data, the top five oil-producing nations are the U.S., Saudi Arabia, Russia, Canada, and China.
The United States became the world's top petroleum liquids producer in 2013 and the world's top crude producer in 2018.
Russia's production has been held back by Western sanctions but its clout in the global oil market increased after it formed the OPEC+ alliance with Saudi Arabia and other key exporters.
China's production meets just over a third of its oil consumption. leaving it the world's largest petroleum importer.

https://www.investopedia.com/invest... to the most recent,Russia, Canada, and China.
Click to expand...

Capitalists like to make money. It's all about the Money. Prices go UP quickly, ... but will come down slowly.
 
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