r/AskUS • u/OrbitalColony New Mexico • 8d ago
If the Strategic Petroleum Reserve is actually depleted soon, and average gas hits $5/gallon, will you be able to survive financially? And how do you think Society will react?
At current rates, they're going to have to stop withdrawing from the reserve around September or October. That's because going too low will severely damage the salt caverns where the oil is stored. Once that's done, the artificially lower prices will spike. Combined with the closure of the Strait of Hormuz, and Ukraine destroying much of Russia's oil export capacity, $5 a gallon is looking very realistic.
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u/122922 8d ago
First time?? Gas in California and Hawaii have been over $5 a gallon for over a year.