Quote:
Originally Posted by darcane
1) This is just temporary. Fuel prices will go back up.
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As they say, "the cure for low prices is low prices."
Oil Bulls Plunge Into Market as U.S. Gasoline Demand Hits Record
Quote:
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American gasoline consumption rose to 9.25 million barrels a day in March, an all-time high for the month, the American Petroleum Institute said April 21.
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Oil Bulls Plunge Into Market as U.S. Gasoline Demand Hits Record - Bloomberg
Source:
https://www.eia.gov/petroleum/weekly/gasoline.cfm
The graph for active US oil rigs is still pointing straight down, and US production has also been falling. It's down something like 7% from its peak last year.
(Canadian numbers aren't as readily available, but I suspect the picture here is even more dire because of higher production cost & pipeline bottlenecks.)
In the past couple of months, US gas prices have climbed to a 6 month high:
And predictably, activity in the forum was up last month.