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Home›Commodities›Energy›Refining tightness may keep US gas prices high into fa…

Refining tightness may keep US gas prices high into fall

A tight refining market, driven by the Ukraine and Iran wars, is expected to support gasoline prices even if crude stabilizes.

Reported · Written up by our desk · Energy

CNBC World reports that gasoline prices could stay elevated this fall, even if crude oil prices stabilize.

The outlet links the resilience in gas prices to a very tight global refining market, which it attributes to disruptions tied to the Ukraine and Iran wars.

With refining capacity constrained, less room exists for gasoline supply to respond if crude prices ease, helping keep pump prices higher than crude alone would suggest.

The report frames this as a key reason retail fuel costs may not fall in sync with oil during the coming months.

Latest closeWTI crude $78.07 ▲3.8%|Gasoline (RBOB) $2.703 ▼4.8%

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Sources

CNBC WorldGas prices could remain high this fall even if crude prices stabilize. Here's why

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