Prices of crude, gasoline shattering suspicious myth

08/16/2004
Another gasoline myth, shattered.It goes like this: When the price of crude oil rises, the price of gasoline leaps immediately.But when the crude price turns downward, the gasoline response takes longer to materialize.According to the myth, the gasoline price moves in step with crude on upturns but not downturns because of an evil urge of gasoline sellers to take advantage of their customers.This reasoning gushes from those fretful energy experts television reporters interview at gasoline pumps when prices jump.If the myth were true, gasoline prices should now be leaping because crude prices are setting records. They're not. In fact, US gasoline prices are falling. In fact, gasoline p...
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