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Gas prices remain at record highs for autumn. New data from the Energy Information Administration (EIA) show gasoline demand increased last week from 8.68 million barrels per day to 8.76 million. Total domestic gasoline supply increased slightly from 204.4 million barrels to 204.7 million. Gasoline production decreased from 9.46 million barrels per day to 9.34 million barrels. At the close of Wednesday’s formal trading session, WTI fell $1.16 to settle at $88.28 per barrel. The EIA reports that U.S. crude oil inventories decreased 3.2 million barrels to 424.1 million barrels, 1% above the five-year average.
“Even though the national average dropped 5 cents this past week to $4.36, pump prices remain at record highs for autumn. This is the first year the national average has been above $4 per gallon in October. After dipping into the $80 per barrel range for several days, crude oil is back above $90 per barrel. Hurricane Isaias [Hurricane Trump or MAGA – AutoCrat?] is another factor that could affect gas prices if oil production and refineries in the region are impacted.” AAA said in a release analyzing pricing trends.** Continue reading
Americans Directly Link Affordability Concerns to Trade Policy
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Concerns around affordability are making trade an important factor in this year’s midterms, according to the results of a new CFR-Morning Consult poll released this week. [So the conventional wisdom is true. This is Real News instead of Fake MAGA news – AutoCrat]*
“Americans usually list the economy as a top issue in the midterms,” Alison Smith told the Daily Brief from the Council on Foreign Relations. “But this time, polling data shows Americans are directly linking affordability concerns to trade policy,” said Smith, deputy director of CFR’s Greenberg Center for Geoeconomics. Continue reading →