NEW YORK, Feb 23 (Reuters) – Total U.S. four-week average demand for refined products fell to the lowest level since April 1997, data from the U.S. Energy information Administration showed on Thursday.
The four-week average demand for refined products like gasoline and distillates fell to 18.05 million barrels-per-day (bpd), 6.7 percent lower than a year ago.
Meanwhile, crude inventories were at the highest level since September 2011, rising 1.63 million barrels to 340.71 million barrels, EIA said. Midwest refinery utilization rose 3 percentage points to 96 percent of capacity.
Gas prices are surging, and quickly headed toward $4 a gallon, as growing tensions over Iran sparks a run-up in oil prices.
The national average price for a gallon of gasoline jumped 3.3 cents overnight, to $3.612, according to the motorist group AAA. That’s the 16th consecutive increase.
In other words, 2+2=7.
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Ya’ know Walker, I wasn’t much of a conspiracy theorist before I happened across your site.
Well, VL, I suppose it is a conspiracy but it isn’t that dark, criminal type. This conspiracy is legal and right out in the open. America’s weak dollar policy is no secret.
Hmmmm..I find my sarcasim does not always translate well in print.
So true about being legal and in the open. But I don’t understand there not being a more of an outcry from the general public about getting mugged every time they pull up to the pump. I think it is dark and criminal actually.
No, I understood you. I just wanted to make that comment.