[Puffer Fish]

The price of fuel has been going down. (July 2022)

This is probably the explanation why. As I predicted, China and India have decided to buy Russian oil. This frees up oil coming from other places on the world market.

After Russian oil was cut off from Western countries due to sanctions, it took a little bit of time for the established supply chains to adjust.

In fact, India and China are have been buying so much Russian oil that it looks like India has outbid China and Chinese refineries won't be getting any.


Asia's biggest oil refiner has cut its purchases of Russian crude as it's unwilling to pay the higher prices that customers in India and elsewhere are offering
- China's biggest oil refiner has cut its purchases of Russian crude, according to Reuters.
- India among other buyers outbid China as countries compete for cheap Russian energy.
- "Sinopec may only lift a very small amount as their bids were too low for the Russians," sources told Reuters.

Asia's biggest oil refiner has cut its purchases of Russian crude as it's unwilling to pay the higher prices that customers in India and elsewhere are offering | Business Insider India, Zahra Tayeb


For those of you who are still a little too mentally slow to get it, I'll try to explain it to you. China and India are both big countries that consume large amounts of oil. When Russian oil was cut off due to sanctions imposed by Western countries, that reduced the supply on the world market and led to price increases. But when China and India switch to buying Russian oil, then the total amount of supply and demand in the world market are back to where they were before. It is just that the supply routes of that trade have been reorganised. The markets in China and Japan are both easily big enough to buy all the Russian oil.

[Puffer Fish]

This was posted in another forum in response to an opinion titled "Gas Prices Are Plummeting - but Republicans Haven't Noticed"
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Something that Democrats won't talk about and don't want to touch with a 10 foot poll or even put two brain cells together to figure out why it matters -- When is the Biden Administration going to start refilling those strategic oil reserves that they previously emptied to add more oil to the market to help keep prices down?

Democrats at the time were telling us that, rather than it just being a cheap dirty political trick selling out America's future security for short term political gain, that, no, Biden was an economic genius because he was only going to sell when the prices were high and then immediately rebuy after the prices went back down.
Okay, so when is he going to rebuy and return the levels in the strategic reserve back to normal??

Because everyone knows, just like emptying some of those strategic reserves helped keep prices down, trying to fill back those reserves is going to have the opposite effect and increase prices.

Of course lots of Leftists just want to smash the piggy bank and don't see any point to saving if those savings are not spent. That's just their mentality.
No surprise they would treat the strategic reserve the same way they do as the government budget.
"