What makes fuel at the pump so high priced? Just a couple of quick comments regarding the price of refined fuels in the U.S. There is not a simple answer, but I would put forth this analysis.
Crude oil imports are down 3% versus last year. Gasoline imports are down over 20% versus last year. Distillate imports are down over 30% versus last year.
On the flip side, we have seen distillate exports increase over the past 4 years. Gasoline exports have more than doubled over the past couple of years.
Excerpts of data pulled from the U.S Energy Information Administration. Check out their website at www.eia.gov. Other excerpts derived from sources deemed reliable.
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