Colin Eaton

speaker

191 appearances 3 recordings 1 series first heard Jul 2021 last heard Apr 2022

Colin Eaton’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Why Gas Prices Aren't Falling Along With Global Oil Prices · 13 Apr 2022 podcast

Demand is pretty robust, and supply has struggled to keep up.

There are some private companies that are looking to grow oil production this year, incentivized by high prices.

ExxonMobil as well is looking to increase oil production in the Permian Basin, the largest U.S.

oil field in West Texas and New Mexico.

by 25%.

But for the most part, public independent oil producers in the United States are constrained by a number of factors, including Wall Street doesn't want oil producers to spend too much money trying to raise production.

And investors are looking at kind of a

billions during the shale boom when companies were growing oil production rapidly that was too costly these companies ran up billions in dollars of debt and they've now changed their business model and so they have not been very open to changing that course and driving production higher

Ethanol is blended into gasoline, and it's a renewable fuel that comes from corn and other plants, essentially.

So the idea is that if corn and ethanol prices are lower than gasoline prices, that blending in more of it could...

potentially bring down gasoline prices.

But the pricing impact is not clear because corn prices have also risen following Russia's invasion of Ukraine, which are big exporters of a lot of corn.

Thanks, JR.

WSJ Your Money Briefing · Why Gas Prices Aren't Falling Along With Global Oil Prices · 13 Apr 2022 podcast

Most gas stations in the U.S.

are operated independently, and those companies have to make up for margins that they lost when oil prices rose initially.

And so they do keep prices elevated over time.

Thank you.

So gasoline prices have followed the trajectory of oil prices over the past year.

There's been this steady increase in prices since last year as demand has essentially outpaced supply.

It's been a tighter market for both oil and for fuel.

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