As Summer nears the prices of gas seem to start slowly to climb…..but why is that?
Blame Biden….not accurate….blame the Middle East….some what accurate…..blame the weather….
In other words what does control the price of gas?
Well devotees….I have an answer for you….
Between keyboard warriors and comments sections, you might have noticed conflicting (and sometimes even downright incorrect) information about how, exactly, gas prices work in America today. While some popular opinions involve blaming whatever the current administration is for increases in gas prices, the issue is far more complicated than any singular person or even any singular government. In fact, the Energy Information Administration identifies four major factors that directly correlate to the cost of gas (and none of them are the president). These factors are crude oil prices (which are set by oil-producing countries), refining costs (which are increasingly impacted by natural disasters and climate change), distribution and marketing costs (which depend on the individual retailer you purchase gas from), and taxes (federal, state, and local taxes and fees).
For starters, you’ve probably heard terms like crude oil and petroleum come up in the gas conversation. For anyone who might not know, the gasoline we currently commercially purchase for our cars (or any other vehicle) is essentially a blend of crude oil and other petroleum liquids. Petroleum refineries break down crude oil into various components in order to then reconfigure and blend them into fuel products. This refinery process is extremely important, with this factor comprising 14% of your per-gallon price at the pump. Refinery costs are impacted by demand (with summer usually the highest-demand season) as well as by climate change. Since most United States refineries are located along the Gulf Coast, this generally means hurricanes, a natural disaster that can destabilize the stock market, and by extension, the economy.
Read More: https://www.moneydigest.com/1565960/what-actually-controls-gas-prices-us/
It is probably not Biden’s fault, that is being kind, that prices are rising….so please do not use that lie to determine your vote in the coming election.
You wanted to know….you ask I provide an answer….
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