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alwaysinasnit

(5,066 posts)
18. Thank you Professor. To continue the info you provided, I found this article interesting.
Sat Sep 24, 2022, 07:37 PM
Sep 2022
https://www.npr.org/2022/06/26/1107265390/refinery-shortage-high-gas-prices-russia

snip...

Refining capacity in the U.S. is about a million barrels a day below what it was prior to the pandemic. That's left the country unable to meet its fuel needs as more people are commuting, traveling and driving as they emerge from the throes of the pandemic.

So, where did all the refineries go?

Some refineries shuttered during the pandemic-induced recession in 2020, when demand for gasoline took a nosedive. Not all of those refineries have come back online. The U.S. had five fewer refineries at the beginning of this year that at the beginning of 2020.

When the pandemic hit and demand for oil evaporated during the recession, refineries took a big financial hit when the price of gasoline plummeted. Some refiners threw in the towel. They said the numbers just didn't work, and closed up shop.

"When you're losing money on doing it, what do you do? You stop making it. And that's when you shut down refineries," says Denton Cinquegrana, chief oil analyst at Oil Price Information Service.
Yup, up here in South East MN. a kennedy Sep 2022 #1
Up about 70 cents a gallon in the last month in the Phoenix area. former9thward Sep 2022 #2
I paid 3.55 on Labor Day near Metro Center AZSkiffyGeek Sep 2022 #5
I am on the Tempe/Mesa border and it got down to 3.49 maybe 3 or 4 weeks ago. former9thward Sep 2022 #9
They did go down for a brief period ChazII Sep 2022 #26
It's never been high enough to keep people from using a LOT of it... Ron Green Sep 2022 #3
Until public transportation is plentiful in ALL areas, you will see driving jimfields33 Sep 2022 #11
it was still $6.10 when I was on the North Coast a couple weeks ago mike_c Sep 2022 #4
I wonder how many refineries are down for "maintenance?" alwaysinasnit Sep 2022 #6
None Here ProfessorGAC Sep 2022 #14
Thank you Professor. To continue the info you provided, I found this article interesting. alwaysinasnit Sep 2022 #18
Article Is Slightly Misleading ProfessorGAC Sep 2022 #27
Thanks for the insights Professor! alwaysinasnit Sep 2022 #30
We're all getting hosed in CA. Oil dropped below $80 a barrel this week. Gas taxes don't account.. kysrsoze Sep 2022 #7
It kind of never really went down Sympthsical Sep 2022 #8
Gas should come down again with the almost 5% drop in crude oil yesterday wishstar Sep 2022 #10
ge that's higher than honolulu, here 5.00 to 5.40 xcpt costco 4.59 nt msongs Sep 2022 #12
Trump's oil buddies have to come through. GreenWave Sep 2022 #13
Went Down In Illinois ProfessorGAC Sep 2022 #15
As of yesterday BeerBarrelPolka Sep 2022 #16
Not Here ProfessorGAC Sep 2022 #24
Cool BeerBarrelPolka Sep 2022 #25
Hmmm...those Fed rate hikes don't seem to be working. Yavin4 Sep 2022 #17
Hmm, almost like they want people pissed off enough to vote against the Democrats? bluestarone Sep 2022 #19
Just paid 2.98 here In Austin. TX Texasgal Sep 2022 #20
dropped twelve cents here in southern CT in the last 48 hours... First Speaker Sep 2022 #21
Up $1.50 a gallon in one month in San Diego. maveric Sep 2022 #22
I paid $2.89 just south of Hartford,CT yesterday. madinmaryland Sep 2022 #23
What does OPEC have to do with it? Crude oil prices are dropping. brooklynite Sep 2022 #28
$3.80 today in metro Detroit. roamer65 Sep 2022 #29
Latest Discussions»General Discussion»California gas prices hea...»Reply #18