Escalating prices for gasoline and motor vehicle fuel

What caused gasoline prices to go up?  World governments did.

press release from the U.S. Department of Energy says they are expanding the size of the strategic oil reserve.  It’s current size is 727 million barrels.  A regularly updated inventory of the U.S. Strategic Petroleum Reserve can be seen in this document.  For more facts on the U.S. reserve, go here.

But wait a minute, China has begun constructing and operating a strategic oil reserve according to this article.  Their plans are to have 102 million barrels of strategic reserves.

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Explore posts in the same categories: autos, China, energy, foreign oil, oil

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