This simple article gives detailed information of how gas prices are determined. False information about the Pipeline and some much needed Executive Orders are circulating, stating now our gas prices are going to go up because of President Biden, or Democrats. Simply not true.
So not true in any fashion. President Biden does not control domestic gas prices. They are traded on the ICES, months and months in advance, as they are a Futures Commodity. The actual price of oil is controlled by many sources, the source of the oil, OPEC OF Saudi Arabia, Government Taxes, State Taxes, City Taxes, Gas Station Company, and Individual Gas Stations based on location and usage, way in advance, months, meaning usually almost a year.
Don’t be spreading political misinformation just to stir the pot. It is simply not true that this is President Biden, Democrats, or the Executive Orders.
Click the link below to read simple detailed article.