* **U.S. West Coast, Midwest low on fuel amid refinery outages, work**
* **Physical gasoline market is diverging from bearish futures**
The **US is running low on gasoline on the West Coast and in the Midwest, where prices are surging on the street, defying falling futures markets.**
**Wholesale fuel prices in Los Angeles, San Francisco and Portland have all reached record highs this week as a spate of unplanned refinery shutdowns compounded scheduled maintenance, at a time when seasonal stockpiles are already at their lowest level in 14 years.**
**A similar dynamic is playing out in the Midwest, where a deadly refinery fire sent Chicago wholesale gasoline surging, matching its most expensive level ever relative to futures**. Meanwhile, pump prices are rising again in many states, as is the national average, according to auto club AAA.
​
https://preview.redd.it/yg69kaa1wxp91.png?width=1200&format=png&auto=webp&s=bbe6a7700de93b5e895152b1062b9cc57c7d3b20
**Soaring fuel prices on the ground are in sharp contrast to what’s playing out in the futures markets for both oil and gasoline, where traders are focused on a worsening global economic outlook. The signs of a slowing economy — from weak fuel demand to collapsing freight markets — are hard to ignore, not to mention the spate of additional interest rate hikes this week designed to rein in inflation that will no doubt also stunt growth**. For the consumer already weighed down by historic costs, rising pump prices are another burden they must bear.
**Prices are likely to remain high without easy resupply options**. **California is geographically isolated from supply hubs in the country, and receives imports from places like Asia and Europe that often take weeks to arrive.** The Nord Harmony is due to offload fuel in Los Angeles in the next few days, but a dearth of fresh loadings mean imports will remain scarce, vessel tracking data show.
Source: [https://www.bloomberg.com/news/articles/2022-09-23/gasoline-prices-in-us-soar-as-supply-cracks-trump-weak-demand](https://www.bloomberg.com/news/articles/2022-09-23/gasoline-prices-in-us-soar-as-supply-cracks-trump-weak-demand?srnd=economics-vp)
***Are gas prices higher where you live than they were a week ago?*** ***Where do you see gas prices headed in Q4 and 2023? Many factors to consider:***
* Short-term supply issues in West/MidWest should be addressed
* OPEC has already discussed cutting supply
* Slowing global economy/Recessions in the US, EU and beyond
* Russia oil no longer flowing to the West
* US SPR (reserve) will need restocking
View Reddit by marketGOATS – View Source
LEARN ABOUT: Investing During Inflation
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
They’ve run out of room to keep the illusion going. Used to be a few years ago, the difference between diesel and unleaded was about 30 cents. Gradually it increased to 40cents, then 50…now it’s almost $1.80+!!!. The game is, lower unleaded and raise diesel, nobody will ever notice! Effing smoke & mirrors parlor tricks. They still turn a huge ass profit, plus some other games played, as well. The sooner the games stop the better off we’ll be – until then, CPI to the moon…
Hooker prices going up too
Puts on my wallet
Went up 10% in LV in last 2 days. About 10%
A big refinery in Washington is down for scheduled maintenance
RIP next CPI report
Half a nut per gallon.
After elections prices will go high