Gasoline: The Price Rally That Nobody Saw Coming

Gasoline prices have gained around 20% year-to-date. This week, gasoline topped $2.90 per gallon and may yet reach $3. In the United States, gasoline inventories are lower than the five-year average both because of the gap between demand and production rates but also because of unplanned refinery outages. The direction of oil prices is top news material. Everyone follows oil prices. Many also follow the prices of the most traded oil derivatives, and some may

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