As I type this West Texas Intermediate (WTI) is down to $47.52 a barrel – over 22% less than the $61.05 it closed at on June 23rd. And it has been in the $47.50 – $50 range for weeks.
But gasoline prices have barely dropped at all.
This stinks to high heaven.
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UPDATE: It is now 6:12PM. WTI oil closed at $47.39. And, in late trading, it is down even further, to $47.03.
Outraged yet?
