That has made about a 15 to 30 cent reduction at the pump
Posted on: September 13, 2022 at 14:57:09 CT
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Oil prices are falling mostly because production is rising in response to higher prices. US production continues to climb and will most likely be at pre-pandemic levels in a few months. We approached 12 millions barrels per day of production in the US in June 2022. The highest monthly average in pre-covid times was 13 million and that was only sustained for a single month.