- December 6th, 2011
- Aurielle Destiche
Gas Prices Down 14 Cents in One Month, Oil Prices Up 30%
Since the beginning of October, crude oil prices have increased substantially while retail gasoline prices have decreased. Crude prices have increased from $75.67 per barrel on October 4 to $100.99 yesterday. During this same period, gasoline prices have decreased 14 cents per gallon.
This seemingly counterintuitive price movement is primarily due to historically weak demand for gasoline counteracting the upward price pressure traditionally expected with higher crude prices.