Thread: fuel prices
View Single Post
Old 06-27-2022, 07:39 PM   #81
John Mercier
Senior Member
 
Join Date: Jun 2021
Posts: 2,983
Thanks: 2
Thanked 529 Times in 435 Posts
Default

It won't go down.
The refiners are pushing 95% capacity utilization. There is a much better chance now that something bad will happen to one or several of them causing an even higher surge.

For the week of June 10th, the US had net exports of 1.3M bbl/d.
The US refiners just can't handle any more.

The US lost about 1M bbl/d of refining capacity in 2019/2220, and it isn't likely to see those refiners come back online for years... if ever.
John Mercier is offline   Reply With Quote