Gasoline has never cost this much in September, while diesel prices touched a new record on Wednesday as crude oil topped $100 a barrel.
"Gasoline prices in the USA are the highest ever for this time of year," Andy Lipow of Lipow Oil ***** ociates said.
While Brent crude (BZ=F) has edged past $100 for the first time in two months, the pain at the pump is even greater. Energy bottlenecks tied to the US-Iran conflict, and refining constraints have pushed crack spreads — the gap between crude and refined fuel prices — to new highs.
Consumers are effectively paying the equivalent of $177 a barrel for gasoline and $250 a barrel for diesel, according to Lipow's ***** ysis.
"Those high prices are starting to impact demand," he said.
#Diesel
"Gasoline prices in the USA are the highest ever for this time of year," Andy Lipow of Lipow Oil ***** ociates said.
While Brent crude (BZ=F) has edged past $100 for the first time in two months, the pain at the pump is even greater. Energy bottlenecks tied to the US-Iran conflict, and refining constraints have pushed crack spreads — the gap between crude and refined fuel prices — to new highs.
Consumers are effectively paying the equivalent of $177 a barrel for gasoline and $250 a barrel for diesel, according to Lipow's ***** ysis.
"Those high prices are starting to impact demand," he said.
#Diesel
3 days ago
