Oil prices still primary driver for gasoline price, FTC says

09/12/2011
While a broad range of factors influence gasoline prices, worldwide crude oil prices continue to be the main driver, the US Federal Trade Commission's Bureau of Economics concluded in a new report. "Our report spells out the factors that determine what consumers pay at the pump, and why [gasoline] prices seem to 'rocket up' but 'feather down'," FTC Chairman Jon Leibowitz said on Sept. 1. He said it also looks at how quickly retail gasoline prices adjust to wholesale gasoline and crude oil price changes; refining margins; the possible impact of futures speculation; and the effect of the Organization of Petroleum Exporting Countries. The latest report builds on previous FTC staff ...
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