RE: Gas Prices On The Rise
Gas Prices fell because Biden released from the Strategic Petroleum Reserve which was primarily established to reduce the impact of disruptions in supplies of petroleum product.
Now that it is 37% of its capacity, it has to be filled up again. That means for the next few months, we don’t expect any supply from the SPR.
Actually, what really should be done is to ENCOURAGE supply from the many private drilling companies in the United States instead of regulating and red taping them to death.
Gas prices also fell because consumption is down a bit.