TechCleanTechnicaabout 2 hours ago
Double Oil Shock May Shift Auto Purchasing
1 min read
Two oil shocks in the 1970s dramatically reduced oil consumption for years. A similar pattern is emerging: Russia's invasion of Ukraine and the US bombing Iran, which closed the Strait of Hormuz. Gasoline prices hit $4.56 per gallon on May 21 and now average $3.943. A prolonged war could accelerate the shift away from gasoline.
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