US gasoline refiners are shipping excess product overseas

in order to maintain high prices at the pump here in the US.  To back this up, here are two charts:


The above chart shows monthly gasoline deliveries to retailers; this is essentially equivalent to actual consumption.  The next chart shows US exports of gasoline; note that the units are different but the trend is comparable.

The point is that US gasoline consumption has fallen drastically; rather than reduce prices to incentivize more consumption in the US refiners are shipping the excess of their production overseas.


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