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Commodities Briefing - Categorized | Market Moves, Oil more

If supplies of oil are up, why is gas still pricey?

Posted on 21 June 2013

Supplies of oil have been surging this year, and U.S. drivers, who have been switching to more fuel-efficient cars, are using less gasoline. That would seem to be the right economic combination to push down prices at the pump, but gasoline prices have remained stubbornly high this summer.
Even some people in the industry are wondering whether the law of supply and demand somehow has been repealed. “I’m actually quite dumbfounded,” says Azam Zakaria, vice president of Lone Star Petroleum, a family owned company that owns and operates 15 gas stations in the Houston area………………………………………..Full Article: Source

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VRS - who has written 38538 posts on Opalesque Commodities Briefing.


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