Ukraine keeps bombing refineries in Russia, and gas is still cheaper in Russia than it is in Utah
Labor Day is one of those holidays that's a big generator of travel ("Gasoline prices, over $4 per gallon, hit record high for Labor Day," CNBC).
Meanwhile in Russia, according to the Daily Beast article, "Humiliating Truth of Putin’s Homeland Crisis Exposed," the War with Ukraine is being felt at home in Russia as drone attacks hit critical infrastructure, especially oil refining.
Refinery burning in Moscow. Social media footage via the New York Times
While that's true it's ironic that gasoline is about $3.32 per gallon in Russia--granted some of it is no longer produced at the right octane level and damages car engines, it's about $4.35-$4.60 per gallon right now in Utah (and we have five refineries about 8 miles away from our house so theoretically it should be a bit cheaper).
Ironic that the closure of the Strait of Hormuz and Trump's War with Iran is more costly to Americans in terms of gas prices and the subsequent costs pushed out amongst various supply chains than the War in Ukraine is on Russian motor vehicle operators--albeit they have to wait for hours in long lines.
(Early on in the War, Trump chortled about how much it cost Iran every day, about $1 billion. I calculated that the daily cost to consumers for gasoline which went up because of the war as more than the cost to Iran.)
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WRT the War in Ukraine, Phillips's Newsletter (Boring War) is one of the only Substacks I pay for. I think I learned about it from Paul Krugman. It's worth it. He's a professor of military history at the University of Saint Andrews in Scotland.
Labels: car culture and automobility, gasoline, macroeconomics, war





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