Grok tells me that 8-10% of oil for the us comes from middle east
The 8–10% share of total U.S. oil imports coming from the Middle East/Persian Gulf is already the volume that predominantly relies on this chokepoint Strait of Hormusz. In other words: Of that 8–10%, nearly 100% transits the Strait of Hormuz under normal conditions. This equates to roughly 2% or less of overall U.S. petroleum liquids consumption (or about 7–8% of total U.S. crude imports), reflecting America's high domestic production and heavy reliance on closer sources like Canada and Mexico.
Why did my Gas go up ...except to make a trump look bad?
nailed it to make Trump look bad.............
actually force majeure has been invoked and the much of the middle east oil contracts invalidated. oil not shipping means states will negotiate with anyone selling, thus prices go up. once supply returns then normal contracts will return.
Wrong,Markets/Commodities are all forward looking,regardless of local it's all Global and it works both ways,when the strait opens and is no longer a threat the backlog of Tankers will Flood the Markets, Contracts will be filled and the Prices will drop like a Ton of GOLD.
It's the same for any Commodity, let's look at Bumper Crops vs Early Spring time Freezes, ex, Orange Juice Futures if they have a hard early spring freeze your OJ is going to be a little higher than normal or if it is really bad the shortage will reflect the price and you'll probably drink something more affordable,if it's a Bumper Crop the prices will come tumbling down.
Its all speculation of commodities. If there's a fire in the heartland, like Nebraska, they drive up prices of corn based on speculation that the price will go up. So a paper trader on Wall Street or in London goes "i will buy 5m contracts of corn at 50 cents each and then only sell the ownership paper for $1 each" and the price goes up. Thats the long (buying in spring based on expectation of fall harvests). The short is the opposite, you buy the spring expectations, then a month later the fires start and you short sell at $1.25 to people who think the price will be $2 per contract.
For something like gas and diesel where you dont have to wait for harvest, that immediately reflects the price because now speculators won't sell their ownership for less than the paper price of $2, which becomes the physical delivery cost per contract. So your local gas station has to sell at $2.50 per contract instead of the previous of $1 (in this just....terrible example). These are the simplified basics, and there's a lot more tricks and backstabbing and price setting involved.
So immediately wall street went "WAR?!?!?!?! Buy gasohols!" and our pricing jumped immediately. Then the media went "because of warrrrrrrr".
Like when the Ukraine war started and bread jump to $3/loaf for the cheapie loaves. Media bobble heads were like "the Ukraine is the breadbasket of europe!" - speculation on wheat futures everywhere in the world, damn the realities on the ground.
^^^^^this, so much this!!!
World oil prices. Something I think Trump wants to change. The risk premium should not affect our prices. Also fuels move with the spot price, even though the major consumers lock in their costs several months in advance.
Look up your specific state's taxes, carbon offsets and biodiesel production...the devil is in those details. WA state has a state tax of $0.59 per gallon, refineries are shifting production to more biofuels, therefore limiting output of diesel and gas.
All them dipshits got left is blame Trump and let’s make Trump look bad. MAGA Motherfuckers
It is very expensive. I have never filled my car with $55 or more. This is bad. Like you said these companies are increasing the gas prices to give a hard time to president Trump
Logic does not apply.
$5.99/gal for on road diesel today...
Costs $190+ to fill the 3/4 Ton...
Gas truck is in the shop...
u/#wtf
Corruption
110% dead on. To vilify Trump and get the retards riled up.