Yes it would IF we were at capacity but we’re not even close. Currently there are over 825 fully functional oil refineries in the world right now. They have the capacity to refine about 102m barrels per day. With the Middle East disrupted, we are only delivering 85-90m tops.
So no, it’s not currently effecting prices at all.
@LauraLynn1960@lsferguson@timburchett The cost of oil is the MAIN factor. The original question is “why is gas more expensive now than in 2008 with oil prices being the same”.
Refinery capacity has nothing at all to do with this. We are not refining at 100%.
Yeah, gas prices are at record highs in EVERY SINGLE NATION IN THE WORLD because there’s a global conspiracy to screw Trump. Lunatic…
Gas prices are higher because global supply has been disrupted in the Middle East (maybe you heard?) and refining costs. Inflation has impacted labor, transport, and station operating costs. Shipping costs alone have quadrupled since 2/28.
But no, the whole entire world is in on a conspiracy against Trump. Wow 🤦🏻
No. Currently there are over 825 fully functional oil refineries in the world right now. They have the capacity to refine about 102m barrels per day. With the Middle East disrupted, we are only delivering 85-90m tops.
So no… it has nothing at all to do with the refinery capacity.
Well, Catturd… Unless you’re putting crude oil directly into your gas tank, maybe you don’t understand that there’s a refining process.
It’s not 2008 anymore, dipshit. Gas prices are higher because refining costs have gone up since then. Inflation has impacted labor, transport, and station operating costs. Shipping costs alone have quadrupled since 2/28. State taxes have gone way up since 2008, they are added to the price per gallon.
So yes, it’s high oil prices plus refining costs equal gas prices. Tell me you’re dumb without telling me.