Gasoline prices can feel disconnected from oil prices, global events, and the daily news. That is because the price at the pump reflects much more than the cost of crude oil.
In this episode of TechMobility Topics, I trace the complex petroleum supply chain—from exploration and drilling to refining, transportation, and retail delivery—and explain the industry measure known as the “crack spread.” As the gap between crude-oil costs and wholesale refined-gasoline prices widens, motorists can pay more even when crude prices appear relatively stable.
