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Economy

In reply to the discussion: Gas Prices [View all]

Warpy

(113,131 posts)
11. The oil market is nuts, we'd worry about you if you understood it
Wed Nov 23, 2022, 01:13 PM
Nov 2022

I'm making my money that way (yeah, I know) and I barely understand what's going on.

Mostly, it's a function of Biden releasing millions of gallons of the stuff onto the world market from the Strategic Reserve, which is exactly how and why Jimmy Carter set that up for us. That is causing prices to fall even after OPEC decided they liked the high prices and cut production. Joke's on you bastards, ha ha ha.

Gas prices have been coming down for a long time, and the signs usually get changed on Wednesday, although if it's really volatile, they can get changed on other days, as well.

Count your blessings, the prices usually get jacked up on big travel holidays.

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