
If you actually want to know, the short of it is that the strait of Hormuz is blocked because of the Iran war. That means a lot of goods are being blocked, like oil and fertilizer. Lower supply but the same demand raises prices. Indiana however has regular prices now because the governor suspended two taxes on gas, so it’s averaging $3.80/gallon
Don’t give him too much credit, it’s great short term but that tax money goes towards roads and other infrastructure upkeep. Plus this is the same guy who wants to bring back conversion therapy, firing squads, and is majorly pushing for more data centers in the state. Luckily though I live in Kentucky near the border so I just mooch off the cheap gas 😂
gas is also a priced speculatively so the gas companies set their prices based on what they think they’ll be paying, and because of the nature of gas as a commodity they set their prices assuming demand will not decrease no matter what so they basically just get to have their pick and everything comes up great for them while the rest of us struggle to survive on a planet they’re killing
Yup. That’s why gas prices decreased a bit like a month or so ago when Trump announced the temporary ceasefire (or maybe it was the first attempt at negotiations?) either way, nothing actually changed in the strait to affect the supply, it was just speculative. Sucks that big oil is so powerful, otherwise we’d have such great public transit. In my city we have fully finished subway tunnels that were never used because of oil lobbying :/ such a waste.