near-chaos in Venezuela. It is quite surprising that I still see gas for around $1.30/gallon up here in high-price central... .Yep, they used to bump it up a nickel for a little refinery fire. Now, a major source is shut down and nothing. Guess it just shows how controlled and manipulated the market really is. They price it where they want it.
Richard W.
The former is a "final product" shortage that can't be solved by simply getting the gas from someplace else (US refineries are at essentially 100% capacity and have been for some time). Venezuelian oil can, at least theoretically, be replaced at virtually no cost.
Still, it is another commodities game.