It is important what you are not seeing with prices this time of year. Going into summer, demand for travel fuel should be going up and it is, but it is not driving the price of gasoline up. As OPEC continues production cuts, independent U.S. producers will take their crude market share. Remember, the majors are in bed with OPEC and never had the interests of the American people as a priority. They do not care if you paid $4/gallon for gasoline or diesel fuel, as long as they can turn in record profits.
This would be a good time to raise the federal road tax, say, 12 cents, 6 cents for high speed rail and 6 cents for infrastructure. I would give the 12 cents directly to the states to be spent on any projects of their choosing for high speed rail or infrastructure. I would divide the money according to population calculated as a percentage of each state’s share of the House of Representatives. The states could initiate projects one month after the first month’s motor fuel tax is collected and dispersed. If we wait for the federal government to vote on every project in the country, it won’t happen this year or maybe never, however it is funded. Large population states like California would receive the most money and states like Rhode Island and Alaska would receive the least, as it should be, less people affected.
I include high speed rail because we cannot keep paving the whole country. We could run the trains up on pylons down each side of the Interstate, without having to secure more land or move dirt, the environmental impact would be minimum, plus there would not be trucks or school buses crossing train tracks with trains running over 300 miles per hour, or700 mph if you believe Elon Musk. Think of all of millions of hours wasted each day by people stuck in traffic going to and from work, time on a train they could have been working or reading an electronic paper or texting or anything else.
Gasoline is down by 3.28 cents/gallon. Diesel fuel is down by 2.81 cents/gallon. Crude oil moved up by 22 cents/barrel to $49.59, still below that $50/barrel ceiling. :
By 2025, Germany expects to have giant wind turbines off shore that are economical without government subsidy. They will be taller than the Eiffel Tower.
Gasoline is down by 2.51 cents/gallon. Diesel fuel is down by 2.45 cents/gallon. Crude dropped below $50 to $49.84/barrel. Prices are: