Colin Eaton
speaker
191 appearances
3 recordings
1 series
first heard Jul 2021
last heard Apr 2022
Colin Eaton’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · Why Gas Prices Aren't Falling Along With Global Oil Prices · 13 Apr 2022
podcast
Most gas stations in the U.S.
are operated independently, and those companies have to make up for margins that they lost when oil prices rose initially.
And so they do keep prices elevated over time.
Thank you.
So gasoline prices have followed the trajectory of oil prices over the past year.
There's been this steady increase in prices since last year as demand has essentially outpaced supply.
It's been a tighter market for both oil and for fuel.
And then prices recently, last month, began shooting up higher following Russia's invasion of Ukraine.
which created a lot of uncertainty about how many Russian barrels would be basically pushed out of the market by companies in the Western hemisphere.
The refineries and traders have stopped taking a lot of Russian barrels.
And the question is whether these barrels find their way to other markets in Asia and how large the impact is going to be in terms of oil flows globally.
So that's hanging over fuel prices.
But recently, there have been signs that demand could take a hit because of lockdowns in China due to COVID-19, which could reverberate around the global economy.
So gasoline is made out of oil, essentially, by refineries, dozens of refineries around the country.
But it's part of this system that turns oil into gas.
It is not controlled by any one company.
There are thousands of companies that drill for oil.
There are dozens that refine it into fuel.
And then that gasoline is sold at wholesale prices.
to gasoline stations, and then consumers buy it at the pump.
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