Gas and petroleum demand is pretty inelastic. The oil industry should flex is muscle and keep gas price high regardless of crude oil market. What are people going to do? Stop driving and shutting down industry?
But this won’t happen because of gubmint intervention and the bs anti collusion tyrannical laws.
“The oil industry should flex is muscle and keep gas price high regardless of crude oil market.”
Very un-free market like comment.
The “cheap” gas/diesel now is about the only bright spot is most peoples lives (financially speaking) right now. And it is about the only thing keeping me from going into negative bank account territory since each paycheck is being eaten up by bills every two weeks.
The fact that this doesn't happen outside the US within far more corrupt countries shows supply and demand really work.