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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?


To: Sdgla who wrote (14154)7/13/2022 3:26:23 PM
From: Kirk ©1 Recommendation

Recommended By
Sdgla

  Read Replies (1) | Respond to of 26388
 
I bought gas this week for my van and it was down under $6 again... down 6% from this time last month.

Biden is running around saying oil prices have fallen but prices at the pump haven't matched. I've posted this on his FB page:
Russia LOVEs the high oil prices! They raised the gas tax in California so that accounts for some of it. Also, there is often a delay in lowering prices until the station sells the more expensive gas and then buys the cheaper gas. If the refineries don't cut prices, the stations are stuck. Want lower prices then increase supply of oil and number of refineries. BTW, WTIC is falling because the embargo against Russian oil isn't working as it is going to India and China thus the sanctions are not hurting the US as much as they could if you got China and India to go along
He'll probably claim credit for falling gas prices even though the failure of his embargo against Russian Oil is what is causing prices to fall as that supply is hitting the market.