Oil In April 2000

April 6 - A good news for consumers is that the price of natural gas is expected to drop this summer. But the bad news is that recession will be delayed. With the increase in international petroleum production, the Department of Energy has greatly adjusted the forecast of summer gasoline prices. According to government agencies, prices will peak in the second half of the month and will begin to fall in May. Average 1.46 dollars per gallon during the summer. Even cheap fall prices have better news: According to agencies, gasoline prices may continue to fall.

April 2014: Prices rose in April 2014 as domestic oil prices rose to $ 101 a barrel. Domestic crude oil prices are based on the reference grade West Texas Intermediate. The rise in crude oil prices is due to the new pipeline from Oklahoma's Cushing Storage Center, which reduced inventories to the lowest level since November 2009. Also, imported crude oil prices (Brent Brent crude oil grade) rose to 110 dollars per barrel. This is due to political instability in Ukraine, Nigeria and Iraq. The EIA predicts that the national average price will stay at $ 3.60 per gallon by May

After the collapse of the Soviet Union, economic production declined for several consecutive years, but recovered in the mid 2000s. Belarus has very little crude oil reserves and imports crude oil and natural gas from Russia. These will subsidize the amount below the market price. Belarus is getting export revenue by refining crude oil in Russia and selling it at market price. Russia and Belarus have big differences in Russian energy prices and quantities. From the beginning of 2016, Russia claimed that Belarus started accumulating debt and reached $ 740 million in April 2017. In April 2017, Belarus agreed to repay the natural gas debt and Russia resumed oil flow

Rising crude oil prices - As I mentioned in this article on April 19, crude oil prices have risen to the highest level since 2014. Given that crude oil is the main raw material for refining, a drastic rise in crude oil price will inevitably lead to a rise in pump price. In the last article, I explained in detail the reasons for the current rise in crude oil price. Summer Mixed Gasoline Requirements - Under the regulations of the Environmental Protection Agency (EPA) aimed at managing and reducing atmospheric ozone, refineries need to manufacture gasoline "winter mixture" and "summer mixture". The transition from winter mixing to summer mixing occurs every spring, and the fact is that summer mixed production is more expensive than winter mixing production.