Why are gasoline prices soaring?
The price of gasoline is up in the US by as much as 5%, according to new data.
But not everyone is feeling that windfall, and some analysts are questioning why gasoline prices are soaring.
The cost of gasoline in the United States has soared by more than 20% in the past year, according to AAA.
Some analysts believe that gasoline prices could be going up faster than they do because of an increase in refinery capacity.
The US Bureau of Labor Statistics also said that gasoline is expected to be the country’s cheapest fuel next year.
That makes the US the world’s biggest exporter of the fuel, accounting for more than two-thirds of all domestic consumption, according a report from Bloomberg.
However, gasoline prices have been on a long, steady slide for the past several years.
In fact, since 2007, they have declined by about 30% annually.
That’s because of a number of factors.
The rise in refinery capacities has caused a drop in the amount of fuel used for cars, trucks and other heavy equipment, according the AAA report.
That, in turn, has led to a decline in fuel-efficient vehicles and vehicles that have less room to roll.
A lot of those vehicles are cars, truck and SUVs, as they can’t go anywhere.
That means they have to be driven more slowly.
The oil industry also played a part in the price of gas.
Oil companies in the U.S. have to pay to get access to the US market for crude, which helps keep prices down.
The price that oil companies pay to have their products imported into the US also helps keep them from losing money on oil sales.
The lower prices have made the U and UK more competitive in terms of exporting oil.