With unemployment as high as it really is, non of those are driving to work. More people on the government dole, sitting on their couch collecting checks. Who among them need to drive? Retailers purchasing less inventory, less trucks on the road. Gas prices going $4.00 plus per gallon, people drive less. Inflation hitting food prices, while paychecks stay the same.....just some thoughts.
Yes, but if consumption is down, then supply should be up. And if supply is up, then price should be dropping.
Hmmmmm.....
O’Reilly says the supply is constricted because refined gasoline is being shipped to China.
So, we hypothesize that the world demand and or supply is down while a US localized supply went up due to less consumption.