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That's the price of oil, not the price of gasoline. While increasing oil prices will cause gasoline prices to rise, the effect in question - that gasoline pric
by briancooley 18y ago
That's the price of oil, not the price of gasoline. While increasing oil prices will cause gasoline prices to rise, the effect in question - that gasoline prices in the US historically go up in the spring and summer - is related to the gasoline supply tightening up because of the switch from winter to summer gasoline specifications and increasing demand because of summer vacations, not because of a reduction in the crude oil supply. OPEC production increased about 3% from January to August this year.
I'm getting too far off topic, I guess.