{"id":1433767,"date":"2023-10-21T16:50:00","date_gmt":"2023-10-21T20:50:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1433767"},"modified":"2023-10-21T16:50:00","modified_gmt":"2023-10-21T20:50:00","slug":"gasoline-prices-have-been-insulated-from-oils-surge-until-now","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/gasoline-prices-have-been-insulated-from-oils-surge-until-now\/1433767\/","title":{"rendered":"Gasoline Prices Have Been Insulated From Oil’s Surge Until Now"},"content":{"rendered":"

Gasoline Prices Have Been Insulated From Oil’s Surge Until Now<\/span><\/p>\n

\n

By Chunzi Xu, Bloomberg Markets Live reporter and strategist<\/em><\/p>\n

US gasoline prices have been insulated from oil\u2019s surge so far amid soft demand and relatively high inventories. But if oil persists at $90\/barrel, pump prices are poised to climb.<\/p>\n

<\/a><\/p>\n

WTI has rallied about 8% in the past two weeks, with gasoline futures not far behind. Yet pump prices have declined more than 4% in the same period.<\/strong> The physical spot market has been stable or lower in New York and Houston.<\/p>\n

<\/a><\/p>\n

This is because implied gasoline demand in the US is about 3% below what it was this time last year and 6% below the five-year average. Meanwhile, inventories have accumulated above seasonal norms. This trend of weak consumption and growing supply is likely to persist into the winter as US refiners emerge from maintenance next month.<\/p>\n

But gasoline prices will eventually catch up to the futures market, which is sensitive to oil\u2019s volatility, especially given escalating tensions in the Middle East. And it doesn\u2019t take much for any impact at the pump to reach consumers \u2014 average gasoline prices currently stand at $3.558 a gallon, that\u2019s below this time last year but far above than any other year in the last decade.<\/p>\n

\u00a0<\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nSat, 10\/21\/2023 – 12:50<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/gasoline-prices-have-been-insulated-oils-surge-until-now<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Gasoline Prices Have Been Insulated From Oil’s Surge Until Now By Chunzi Xu, Bloomberg Markets Live reporter and strategist US gasoline prices have been insulated…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1433767","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-60Zh","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1433767","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1433767"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1433767\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1433767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1433767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1433767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}