Get ready for prices at the gas pump to go up, up, up

[Elderberry]

Just the News by Joseph Curl 1/26/2021

Under President Trump, the United States became the largest producer of oil in the world.

In 2019, the U.S. produced 12,248,000 barrels per day (bpd), topping Saudi Arabia, which produced 12,000,000 bpd, according to the U.S. Energy Information Administration. Russia produced 10,800,000 bpd, while other nations in the Organization of the Petroleum Exporting Countries (OPEC) were far behind: Iraq at 4,451,516, Iran at 3,990,956 and Kuwait at 2,923,825.

But things might be changing under President Biden.

At the end of December, Saudi Arabia announced it would cut production by one million barrels per day, which will drop global supply for February by about 1%. The move is intended to reduce supply with diminished demand, which has dropped due to the COVID-19 pandemic.

Already, drivers are starting to see the effects of reduced supply. The average U.S. price of regular-grade gasoline jumped 10 cents a gallon over the past two weeks to $2.45, according to The Associated Press — and 13 cents since the beginning of the year.

Industry analyst Trilby Lundberg of the Lundberg Survey said Sunday that a rise in crude oil prices since November caused the increase. Meanwhile, OPEC's oil supply in January is expected to decrease by approximately 400,000 barrels per day, tanker tracker Petro-Logistics said on Monday.

More: https://justthenews.com/politics-policy/transportation/get-ready-prices-gas-pump-go-maybe-lot

[libertybele]

I'm expecting everything to go up, up up; gas, taxes, food, loan rates, clothing, services, etc.  The only thing that won't go up is our standard of living.

[SZonian]

Already happening here in CA...about 15-17 cents in the past few days.

[GtHawk]

Already happening here in CA...about 15-17 cents in the past few days.

And the democrats are in pig heaven since it means both state and federal tax dollars increase as a unintended of course by product of Captain Dementias EO's.

[mountaineer]

Already happening here in CA...about 15-17 cents in the past few days.

We went up 20 cents a gallon immediately after inauguration day.

[libertybele]

We went up 20 cents a gallon immediately after inauguration day.

Same here. I'm seeing $2.39 up from $2.15.  Joy!

[goatprairie]

The express purpose of Obama's admin was to keep gas/fuel prices at high levels to discourage Americans from using gas-powered autos to "fight global warming."
Fracking helped make America not dependent of foreign oil.  Gas prices went down.
We'll see how happy Americans will be if gas prices go to stratospheric levels again. Especially if Biden bans fracking. He says he won't, but Dems can't be trusted on anything.

[Wingnut]

Same here. I'm seeing $2.39 up from $2.15.  Joy!

Up same here in the LA part
of FL

[libertybele]

The express purpose of Obama's admin was to keep gas/fuel prices at high levels to discourage Americans from using gas-powered autos to "fight global warming."
Fracking helped make America not dependent of foreign oil.  Gas prices went down.
We'll see how happy Americans will be if gas prices go to stratospheric levels again. Especially if Biden bans fracking. He says he won't, but Dems can't be trusted on anything.

The liberal mental midget bat crap crazies will insist on electric vehicles instead of paying higher prices at the pump -- and no you just can't make stupid smart.

[jafo2010]

Where is this person been?  They have gone up 40-50 cents already.  I see $5-6 gallon gas before year's end.

Wrecking Ball Joe will destroy everything good that has happened in the USA under Trump.  He is insane and mentally incompetent.  By year's end if not before, the Dems will want to implement the 25th Amendment.  Count on it.

[jafo2010]

Soon only the elite will have cars.  The rest of us will be in the Soylent Green Zone!!!