Labor cost increases, supply chain delay, less supply due to less investment in fuel infrastructure. Biden basically said “I will end fossil fuels” during this campaign, I highly doubt any of them are investing any improvements to their infrastructure at this point.
Up in Canada here, when Saudi and Russia flooded the market with oil a few years ago and dropped the price per barrel from $100-$110 to $30(?)-$50 per barrel. The companies up here were like "the economy is gonna crash with oil being so cheap, so we're gonna 'stabilize' the market by raising gas prices by ~CAN$0.20/L." Of course, they increased their profits tremendously, and now that oil is back to where it was before the flood, they refuse to remove their "stabilization increase."
So there's that to add to the price in Canada. Where we average over $8/Gal.
In 2008 oil hit 180 a barrel and pump prices were much lower than they are now with oil at about 120 a barrel. Why is that?
Labor cost increases, supply chain delay, less supply due to less investment in fuel infrastructure. Biden basically said “I will end fossil fuels” during this campaign, I highly doubt any of them are investing any improvements to their infrastructure at this point.
The dollar was worth more (a LOT more) in 2008 than it is today. I suspect that is a large part of its current pricing.
My message to Old Joe is this: Stop collecting taxes on gasoline now! DO IT TODAY! Ya' f*#King moron.
Up in Canada here, when Saudi and Russia flooded the market with oil a few years ago and dropped the price per barrel from $100-$110 to $30(?)-$50 per barrel. The companies up here were like "the economy is gonna crash with oil being so cheap, so we're gonna 'stabilize' the market by raising gas prices by ~CAN$0.20/L." Of course, they increased their profits tremendously, and now that oil is back to where it was before the flood, they refuse to remove their "stabilization increase."
So there's that to add to the price in Canada. Where we average over $8/Gal.