What is the root cause of the continuous decline in gasoline and diesel prices?
Influenced by the international situation, shale gas has been discovered in the United States, and it is on the rock surface, which is easy to collect. The amount of oil that can be collected is huge and cheap. Moreover, all countries in the world have begun to explore shale gas, and the supply has greatly increased. There is only one way to reduce production. However, the major oil producers of the Organization of Petroleum Exporting Countries, such as Saudi Arabia, are unwilling to cut production because of its easy collection and low price, for fear of taking market share. Russian industry mainly depends on oil exports, and the United States is unwilling to cut production in order to crack down on Russia. The economic growth of countries around the world, including China and Europe, has led to a serious oversupply, and some hedge funds have made waves, so the price of crude oil has fallen sharply. Gasoline and diesel oil are refined from crude oil (crude oil), so they have also fallen sharply.