Green Car Congress
APRIL 20, 2022
US gasoline and diesel consumption continue to remain below their 2019 averages. EIA expects higher fuel prices this summer as a result of higher crude oil prices. Crude oil prices have generally risen since the start of the year partly as a result of geopolitical developments, particularly Russia’s war against Ukraine.
Green Car Congress
JANUARY 11, 2023
Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oil prices as a result of Russia’s invasion of Ukraine. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.
Green Car Congress
MAY 24, 2022
Prices of distillate fuels change with the price of crude oil and with developments specific to distillate product markets. In 2022, both low global distillate fuel inventories and high crude oil prices have been contributing to higher global distillate prices.
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