(Drivebycuriosity) - The price of oil is in a free fall again, driven by oversupply and recession fears. But the price of gasoline at US pumps is rising (charts below)! Two weeks ago the price of oil had a big jump, caused by attacks on Saudi Arabia`s oil production, and the gas price followed as usual. Since then oil - represented by futures on financial markets - gave up all these gains and fell even lower, but the gasoline price stays and is creeping even higher. Usually (seasonally ) gas prices are dropping in fall because of sinking demand, but not his time. Fishy!
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source 1 source 2 )
The strange behavior shows that there are some problems with the US gas price. It looks like that gas refineries and distributors behave like a cartel and are setting gas prices as they like. But the US antitrust authorities don´t care. They are obsessed with technology companies like Google, Amazon & Apple and ignore the price manipulation on the national gas market (
driveby).
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