Fuel supply restrictions resulting from hurricanes and other natural disasters, often lead to price increases as the market reacts to rebalance supply and demand. To protect consumers, many states have enacted price gouging laws that limit a merchant’s ability to raise prices during an emergency.
Hurricane Irma passed through Florida and into the Southeast over the weekend, and our thoughts and prayers are with the state and its residents as they begin to recover from this devastating storm.
As we head into the Memorial Day weekend, a lot of attention is being paid to the price of gasoline. This is no surprise since over 36 million travelers are expected to hit the roads across the country this weekend - at a time when prices for the crude oil used to make fuels are climbing.
The biofuel lobby has made a number of claims to muddy the waters around the Renewable Fuel Standard (RFS) and halt progress on better aligning vehicle and transportation fuel policies.
As Hurricane Florence approached the East Coast this week, nearly two million residents throughout the Carolinas, Maryland and Virginia were placed under evacuation watch.
A nationwide 95 RON octane standard for vehicles can deliver major carbon reductions in the nation’s light-duty auto fleet faster and at a lower cost than any other proposal being considered by policymakers right now, especially policies seeking to force nationwide vehicle electrification.
The cost of Renewable Fuel Standard (RFS) compliance credits, specifically D6 renewable identification numbers (RINs), is out of control. Sales of D6 RINs for conventional ethanol recently registered above $1.90 (the highest trades in history).
Refineries are not the story when it comes to retail gasoline prices. Raw materials (in this case crude oil) account for the biggest share of the final price consumers pay.
Right now, members of Congress are debating a series of taxes as part of the multi-trillion-dollar reconciliation package that could make the crude oil that runs through U.S. refineries more expensive.
