Gas Prices Just Keep Going Higher And Higher
An ongoing rally in crude oil prices is spilling down to the consumer level.
An ongoing rally in crude oil prices is spilling down to the consumer level.
Federal data showed a decline in demand for petroleum products, but the global energy market is not limited to the U.S. economy.
There could be a bit of a post-holiday lull that could bring prices lower, but it remains to be seen if it will last.
Analysts say modest relief at the pump will be fleeting.
Demand for refined petroleum products remains at or near pre-pandemic levels.
Even with a bit of a dip lower, prices remain at levels not seen since late 2014.
Analysts told Zenger that market players are looking for economic clues elsewhere.
And that’s precisely why the price at the pump continues to hold at multiyear highs.
But while commodity prices are plummeting, it may take a bit for consumers to notice because of supply chain issues.