California, 2019, South America discussed on The KFBK Morning News
Florida Yesterday was the third anniversary of the shooting at Marjory Stoneman Douglas High School. Left 17 18 people dead. It was a wreath laying ceremony and other remembrances around Florida yesterday. Are the days of cheap gasoline. A thing of the past. We've had low prices because of the pandemic and a lot of people working from home and a lot of people out of work. So no matter where you are in the country, though, there's not many people on the road these days. So why are gas prices coming up a little bit? As we're speaking with Gordon Deal, Tom closer from the oil price information services, I'm like a lot of commodities. Gas is not demand driven. Proved is a little bubbly. You know, every possible bullish outcome has been priced in crude oil, and, you know, it's not just the U. S. But the man overseas and then South America and whatever is substantially lower as well. So this is not a man driven. Expected by the perception that maybe we'll come out the other side of coded in the spring and return to sort of 2019 driving habits. I doubt it. You mentioned I unemployment and people working from home and I think that's gonna have a lasting impact. So this is the money rush a little bubbly. I do think we'll see a recovery. You know, in the driving season, but don't listen to a lot of the nonsense out there about $3 gas. Yeah, you live in California, Big northwest of polite but not In most parts of the country. Well, $3 gas isn't nonsense. Here in California. I know That's what we're paying right now, in a little more in some places, but pleasant believes the overwhelming number of Americans working from home will have a lasting impact on gas and oil futures. Well, he don't tend to keep the man lower the problem and you know, Refiners realized this the Refiners you're running at about 80% as opposed to, you know, they might normally be in the nineties, so they've ratcheted back on production. I still think they're probably making a little bit too much, And we're gonna have comparisons. The last year were demands gonna be down like about 15 or 16 cents. Now it'll come back, but I don't believe we'll ever see demanded size was in 2000 and In 19 that impact on commuting is gonna last a long time and you know, it'll be a busy driving season. Perhaps if everyone is vaccinated, and they take those vacations, they weren't able to stay clash here so to break it down in a simpler terms, Gas prices are high, even though supply is outweighing demand right now, commodity traders See the higher prices they bid higher and it kind of creates a self fulfilling prophecy, which is a bummer for everyone else. I mean, because even planes aren't flying, so I mean they're using less fuel to exactly But refineries then also dropped their production to match the reduced demand. And so even though oil is coming in, and then oil producers, you know, match that their production You demand So you know, it was a founding. It really is. Okay. Let's get outside and check traffic..