2 Dec 2022 9:01 am
Sure...everyone knows the ONLY factor impacting the cost to produce a gallon of gasoline is the cost of a barrel of crude oil. Refineries don't incur any expense for labor, benefits, insurance, transportation, maintenance supplies, utilities, fuel, taxes, etc. Those things are provided to the refineries at no cost to the oil company.IkeBana » 02 Dec 2022, 8:43 am » wrote: ↑ So, the national average for a gallon of regular today is $3.45. Some of us pay more, some of us pay less but that's the average from sea to shining sea. I'm not expecting anybody to thank Biden for the drop in prices, since I don't expect anybody to blame him. And I'll tell you why...
Right now the US is producing more than twice as many barrels perday as it produced in 2008. So let's not hear any fossil fuel propaganda about the impact of the shuttering of the Keystone XL pipleline.
The price of crude two months ago was $120/bbl, today it sits at $75/bbl, and again, the average gallon of gas is at $3.45. What was the average cost of a gallon of gas the last time crude was at $75? It was $2.80/gal.
So why isn't gas going for $2.80/gal? Because big oil is ripping us off for obscene profits. Why is inflation so bad? Because big oil and the rest of corporate America is ripping us off for the highest corporate profits in US history, by a country mile.
But right now, in this thread, we're talking about big oil, an heroic American industry according to fossil fuel loving MAGA/Q_ANON alt-right conjobs...ripping us off.
And those retailers don't have any expense related to keeping their locations open and running and can survive on no profit.