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Tag: cushing

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Oil Is Down. Gasoline Isn’t. What’s Up?

A little more than a year ago, oil prices reached above $100 a barrel. Gasoline averaged in the $3.50 range nationally. In late spring, oil appeared $60ish and the national average for gas remained around $2.70. The price of a barrel of oil has since plunged to $40 and below—yet, prices at the pump remain just slightly less than they were when oil was almost double what it is today.