"The same oil we rely on can be moved anywhere in the world, and we're seeing exports at record levels. This is capitalism. When you put your house on the market, you're not like 'Yay, I'm going to take the cheapest bid.'"
"The supply and geopolitical pressures could keep prices elevated for months, though there's still significant uncertainty. There's a huge range of potential summer gasoline prices, with a national average of anywhere from $3.50 to $5.50 a gallon."
Gas prices have been rising since late February, with the national average reaching over $4 per gallon by March 31. California has seen prices exceed $6, while states like Oklahoma and Kansas have lower averages. Factors contributing to the increase include geopolitical tensions in the Strait of Hormuz, a switch to a more expensive summer fuel blend, and refinery outages in the Midwest. Analysts predict prices may remain high for months, with potential national averages ranging from $3.50 to $5.50 per gallon.
Read at www.businessinsider.com
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