Nobody voted for the fuel prices. Oil companies are in control regarding prices.I agree fuel prices are going crazy, but congratulations to some of you who voted for it. You guys must be pretty happy.
Seriously though, I feel bad for those who were barely making it and now are paying the inflation tax and paying escalating fuel prices.
Until Congress authorized export of oil several years ago, exporting oil was illegal. The oil companies lobbied for this.
In my state there are several new natural gas power plants being constructed or they are converting obsolete coal plants to gas.
It still needs to be refined, and the last refinery that was built in the US was probably about 3 or 4 decades ago. Everyone keeps saying "not in my state", but it has to be refined somewhere, just like electrical energy has to come from someplace, but the people want it to magically appear and not see where it comes from.
en.wikipedia.org
I buy all my fuel on the other side of the Mason-Dixon line, the tax accounts for the difference in price. Interestingly, the stations on both sides have business, people just don't care about the waste of money.
Yes, they have been increasing worldwide all year as the oil companies have had to ramp up after losing big bucks during 2020 due to Covid. Thanks to the law enacted by Congress US oil is now exported and is priced on the world market.
This will probably be the beginning. Prices will increase everywhere, as it costs more to get items to places.
