What factors contribute to gas prices? [OC]Submitted by USAFacts_Official t3_yl8yag in dataisbeautiful
starrdev5 t1_iv17552 wrote
Reply to comment by 40for60 in What factors contribute to gas prices? [OC] by USAFacts_Official
You’re not wrong about your other points but specifically total refining capacity is operating at 1 million barrels of oil a day less than pre-covid.
Here is a list of refineries that shut down since Covid. Some of the shutdowns will cite things other than Covid that did them in like hurricane repairs and equipment maintenance costs, but refineries took big losses in 2020. It’s because of those big operating losses that their balance sheet couldn’t withstand the later operating losses.
40for60 t1_iv18tz6 wrote
Qty is down but not because systems are idle as the first person I responded to insinuated but because Philly is gone and the rebuild of Husky,due in 2023, and others isn't complete.
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