Current vicissitudes loom large, of course, but many other influences' weighting fluctuate dynamically surrounding the likelihoods of those future events coming to pass, without waiting for an actual event itself to come to pass before it shows an affect on the current price.
Yep, but the totally-incapable-of-foreseeing-even-the-most-glaringly-obvious-of-consequences liberals tried to make the case that being able to move crude oil from Canadian oil sands to US refineries wasn’t worth the effort.
Airlines, truckers, commuters used to be dependent on volatile pricing due to volatile supply. But now so many have contracts that lock in a price that it doesn’t fluctuate like it used to.
Currently we have 43+ EPA and DOT approved blends of gasoline. But some are only approved for certain time periods or certain locations.
If we let the consumers, the marketplace, decide what they want to buy rather than the slow bureaucracy, we would have cheaper prices.