gasoline prices

Low U.S. Gasoline Demand Is Making Gasoline Less Profitable, Reducing Crack Spreads

Low gasoline demand in combination with the seasonal switch to winter-grade gasoline has made gasoline less profitable to produce, reducing the difference between gasoline blendstock and crude oil prices to multiyear lows in October 2023. The crack spread is the difference between the price of a wholesale petroleum product and the crude oil price, … [continued]

Price Of Oil Headed Back Up, Gasoline Hikes Will Follow

In the world of oil, Saudi Arabia is the tail that wags the dog. For several years, it has stubbornly refused to cut oil production in the face of falling oil prices in order to maintain its dominant share of the oil market. It is also part of a strategy to drive tar sands and fracking producers out of business. Those non-traditional sources of oil are far more costly than pumping from reserves under the Arabian desert.