Yesterday I read that the consumption of petroleum products in the United States has fallen to the lowest level since at least the early 1990's. As long as global travel restrictions stay in place, gasoline demand will remain significantly depressed. Refineries act as the connector between oil producers and gasoline consumers. They take in oil and process it into gasoline, diesel and jet fuel, adding any additional components like ethanol. Presently, refineries are not turning as much oil into gas, causing a huge buildup in crude inventories.
In some U.S. locations, a gallon of gas has actually dropped to under one dollar! Unbelievable! Last year at this time the country was paying about $2.60 per gallon, on average.
The lower prices at the pump are great to see, but don't expect the price to get as low as it was in 1931 when you could fill up your car for just 17 cents per gallon!
From Him, Through Him, For Him (Romans 11:36),
Paul J. Staso
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Visit my YouTube channel -- https://www.youtube.com/user/pacetrek
Click on any of the links below to see some of my adventure photos:
- United States in 2006 (3,260 miles solo in 108 days at age 41)
- Montana in 2008 (620 miles solo in 20 days at age 43)
- Alaska in 2009 (500 miles solo in 18 days at age 44)
- Germany in 2010 (500 miles solo in 21 days at age 45)
- The Mojave Desert in 2011 (506 miles solo in 17 days at age 46)
- Various Photos From Mileposts Gone By
- Students Worldwide Who Ran With Me Virtually
- Roadside Sights From My Running Adventures
- Some Cycling Moments From The Past
