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Saturday, November 26, 2022

#57 THE REAL REASON GAS PRICES ARE FALLING.

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“But the simple truth is that gas prices are up due to Vladimir Putin’s (9:00-10:30)

Prices are on a trajectory to keep falling at least the next few weeks. Global fuel demand has been declining because of the high prices and the strong U.S. dollar making oil more expensive elsewhere. Supply remains tight, so after that point, it’s uncertain whether prices will continue to fall. – REUTERS.

US Cuts Gasoline-Demand Forecast as High Prices Weigh on Drivers – BLOOMBERG

  • Gasoline consumption has already fallen behind seasonal norms
  • Pump prices are still nearly 50% higher than year-ago levels

The US will consume less gasoline from July through October than previously thought as pump prices remain historically high.

The country’s gasoline demand is now expected to reach 9.07 million barrels per day in July, down 2.2% from the June forecast and 4.8% from the amount consumed in July 2019, before the pandemic, according to the latest Short-Term Energy Outlook from the Energy Information Administration. The forecast shows the extent to which high prices are changing Americans’ driving habits.

Paul Curtman is a veteran of the U. S. Marine Corps, an author, conference speaker, and statesman. For nearly 20 years, Paul has helped lead and develop leaders in the United States military, public service sectors, and business. Paul is a strong advocate for personal and economic freedom as well as the strength and integrity of the free market system. He is a Fellow at Club for Growth in Washington D.C. and currently lives in Missouri with his wife, Ruth, and their four children.

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