Prices at the pump now top $4 in every U.S. state, with costs driven up by a drop in capacity. gasprices alabamanewsnetwork
Gas now tops at least $4 per gallon in every U.S. state, with the biggest jump in fuel prices this week in Michigan, New Jersey, Connecticut, Kentucky and Indiana, according to AAA. The priciest states for gas are in the West: California , Hawaii , Alaska , Nevada and Oregon .
The price of crude oil — by far the biggest factor affecting the price of gas — has moved up and down this week. Brent crude, the international standard, rose Thursday to $107.85 per barrel, according to FactSet. West Texas Intermediate, the U.S. benchmark, climbed to $106.70. A drop in oil refinery capacity is also pushing up prices. Refineries turn crude oil into gas and other products; since 2019, refinery capacity in the U.S. has shrunk by about 1 million barrels per day.
"Why can oil move down but wholesale gas prices move up? Because they're different. They may be similar, but refining is the kink in the hose, and we're down 1 [million barrels per day] refining capacity vs early 2019," Patrick DeHaan, head of petroleum analysis for GasBuddy, said on Twitter this week.
Why can oil move down but wholesale gas prices move up? Because they're different. They may be similar, but refining is the kink in the hose, and we're down 1mbpd refining capacity vs early 2019
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
U.S. Ammonia Prices Rise in Response to Higher International Natural Gas PricesAmmonia prices: The U.S. price of ammonia, the primary source of nitrogen fertilizer, has risen by a factor of six in the past two years
Leer más »
Biden admin cancels massive oil and gas lease sale amid record-high gas pricesThe Biden administration canceled one of the most high-profile oil and gas lease sales pending before the Department of the Interior Wednesday, as Americans face record-high prices at the pump, according to AAA.
Leer más »
Environmental groups file official protests to block $4.7B Turnpike extension wideningA petition filed by environmental groups calls on NJDOT and the Turnpike Authority to stop a $4.7B N.J. Turnpike widening because, they claim, it doesn't meet Murphy's climate change policies.
Leer más »
Environmental groups file protests to block $4.7B NJ Turnpike extension wideningThey want alternatives considered in addition to expansion, such as public transportation, repair projects, safe street projects, bikeways and walkways.
Leer más »
Residents from Biden's home state sound off on gas prices as inflation rages onResidents of Wilmington, Delaware said they are budgeting more, traveling less, and using mobile apps to combat high gas prices.
Leer más »
Gas prices reach record high despite Biden efforts to blunt costIn a speech Tuesday aimed at soothing voters’ frustration with rising prices, Mr. Biden blamed a 'Putin price hike,' corporate greed, the pandemic and policies of uncooperative “ultra-MAGA Republicans.' gasprices
Leer más »