• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 16 hours The United States produced more crude oil than any nation, at any time.
  • 6 days e-truck insanity
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 4 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 5 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 6 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 6 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 9 days Bankruptcy in the Industry
Editorial Dept

Editorial Dept

More Info

Premium Content

Rising Gasoline Prices Boost Inflation Concerns


1. Gasoline Becomes an Inflation Scare Again

- Gasoline prices have been experiencing an unexpected surge lately, with New York futures soaring to a nine-month high of $2.9 per gallon, whilst prices in Asia gained 15% in July alone and are currently at $2.53 per US gallon.

- Asia’s gasoline tightness stems mostly from Chinese consumers ramping up demand amidst peak summer driving season, with commercial gasoline inventories in the country falling to the lowest since at least 2019.

- A string of force majeure events at Exxon’s Baton Rouge refinery in the US, Shell’s Pernis refinery in the Netherlands and ENEOS’s Mizushima plant in Japan have cut gasoline supply across all three key continents.

- The average price of gasoline in the US currently stands at $3.71 per gallon, with further growth potentially becoming a key liability for the Biden administration as it seeks to curb inflation, currently at 3%.

2. Rhine Levels Send Inland Shipping Costs Soaring

- The river Rhine, the commercial artery for 80% of Germany’s inland shipping of goods, is experiencing severely low water levels, with the key chokepoint of Kaub recording its lowest readings this year.

- Last year has seen very similar water levels at this time of the year, leading to the lowest volume of goods transported via Germany’s waterways since reunification, a total of 182 million metric tonnes, down 6.4% from 2021.


Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News