Usual Factors No Longer Apply For Prices At The Pump - The Westside Gazette thewestsidegazette.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thewestsidegazette.com Daily Mail and Mail on Sunday newspapers.
No Break In Sight For U.S. Gasoline Prices
No Break In Sight For U.S. Gasoline Prices
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While retail gasoline prices in the United States are holding relatively steady, it could be a matter of months before consumers see sticker shock at filling stations, analysts said Tuesday.
Crude oil prices are closely linked to retail gasoline prices in the United States, but the relation has been uneven during the pandemic. West Texas Intermediate, the U.S. benchmark for the price of oil, is up a staggering 49% since Nov. 1, when vaccine developments to inoculate the public against COVID-19 first emerged. By contrast, the retail price for a gallon of regular unleaded gasoline is up only about 10% since early November.