The straight dope on oil and gas prices

Cecil Adams took on the question How is the market price established for crude oil? in a Straight Dope column that might help you get a better understanding of why gasoline (and diesel) prices go up and down the way they do.

What you see as the price at the pump is only the tip of the iceberg. Its not just supply and demand. There is an impact of anticipation and planning for stability in business, too.  The market for oil and its derivatives like gasoline is a highly varied and quite competitive global market. Cecil provides an answer that will give you some idea of just how complex it can be yet still boil down to a simple price per gallon at the pump.

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