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it does not affect it much, but it still does affect it. Every Wednesday a report comes out from the Energy Information Agency (eia.doe.gov) reporting on current inflow, stock and consumption of oil and its refined goods. Every Wednesday the price of oil reacts to that information. If we have an unexpected rise in gasoline stocks, the price goes down. Everybody refines their own oil into seperate products, gasoline here is a different price then gasoline in europe partially because of this. I follow future prices every day on over 30 markets (interest rates, equity indexes, currencies, grains, metals) and can tell you supply and demand are some of the major influencing factors on the price of these goods.
In regards to most things in the US, consumption is our issue…until we curb our consumption of foreign and domestic goods, things will not change drastically. But if we did change our habits, things would change. Not you or I, but everyone. Yeah I realize its not going to happen…