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Why U.S. Gasoline Prices Can Rise Even When America Produces More Oil Than It Uses
Key Takeaways
- The U.S. can be a net oil exporter while still importing large volumes of crude for refining.
- Many refineries are configured for heavier imported crude rather than lighter domestic output.
- Oil prices are set in an interconnected global market, not only by domestic production.
- Geopolitical crises and chokepoints like the Strait of Hormuz can lift gasoline prices nationwide.
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DT Editorial Team··via jalopnik.com