Motley Fool Money · Saturday, September 26, 2026
Tim questions why US petrol prices are affected by global crude oil supply reductions, given that the US is a net oil exporter. The hosts explain that it's a global market, and producers sell to the highest bidder. Additionally, refinery setups and the global demand for specific oil inputs play a role, suggesting that price increases are not necessarily 'price gouging' beyond normal market fluctuations.
“I keep hearing on podcasts, this is Tim, that the US has no need to import oil if they don't want to. In fact, they are net oil exporters. If that's the case, why does the straight off crude closure and reduction of oil supply affect them and the cost of petrol at the pump in the US?”
“Well, look, I'm not going to defend the oil companies. But actually, we see something similar in Australia. I mean, it's a global market. We go, Well, actually, we produce more gas than we could ever possibly consume here at home. And I keep paying more for it because of international prices.”
“So I don't think they're price gouging. More than they normally do.”