U.S. gasoline prices are now lower than they were at this time last year, and the national average could drop to below $3 per gallon by Christmas. Higher-than-usual refinery utilization rates are key contributors to the drop in gasoline prices as refiners have operated at near capacity since the September-October maintenance season. Refiners, which were blamed this summer and autumn by the Biden Administration for failing to “pass on savings to the pump”, “war profiteering,” and “market gauging”,…
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