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With the summer driving season proceeding there are counter historical-trend results in fuel prices. Gasoline prices normally peak this time of the year, however drivers are getting a break, or is that brake? Moreover, does the ongoing global economic chaos caused by the Trump Administration tariff decrees signal something much darker – recessions and perhaps impending global depressions?*
“The national average for a gallon of regular is $3.14, down two cents from last week,” the National office of AAA said today. “Pump prices are 36 cents cheaper than last June, thanks to this year’s consistently low crude oil prices. Currently, oil supply in the market is outweighing demand. June gas prices haven’t been this low since 2021. The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 36 cents.** Continue reading
GlobalData – Chinese BYD Hidden Debt Risk
The massive China-based electric vehicle company BYD (1211 HKG)* with more than 968,000 employees and a market capitalization of ~$155.5B is not only caught in the tariff crossfire between Donald Trump and the Chinese Government, but it has its own business structure problems as well.
“BYD posted record 2024 results with revenues of $108.1 billion (CNY777.1 billion) (+29% year-on-year (YoY)) and net profit of $5.6 billion (CNY40.2 billion) (+34% YoY). However, experts warn that the company’s growing reliance on supply chain financing could expose it to serious financial risks if market conditions deteriorate,” said Murthy Grandhi, Company Profiles Analyst at the respected GlobalData consultancy.** Continue reading →