Today’s graphic from the American Petroleum Institute reminds us that fuel prices are determined by the market forces of supply & demand, not individual companies, and the price of crude oil is the primary determinant of the price we pay at the pump. Indeed…. Stay safe and have a Happy Friday!!!
“Oil prices are at a seven-year high amid a persistent global supply crunch, workforce constraints, increasing geopolitical instability in Eastern Europe, the economic rebound following the initial stages of the pandemic, and policy uncertainty from Washington.”
Hat tip to the American Petroleum Institute.
