Oil price today dropped. Brent and WTI retreated on Friday after a double-digit weekly rally above $100. Headlines read: oil prices fall Friday, but post sharp weekly gains as tensions in the Middle East rise. Oil prices slip after recent surge amid supply risks. Oil prices fall to $104 and world shares are mixed following Wall Street losses. The market moved. The pump did not.
That is the problem drivers feel in their wallets every week.
💡 Frequently Asked Questions (FAQ)
- Q: Why did oil price today fall to $104?
- A: Brent and WTI retreated on Friday after a double-digit weekly rally above $100, with easing risk sentiment from Middle East tensions and mixed world shares following Wall Street losses.
- Q: If oil price today dropped, why hasn’t the gas station price moved?
- A: Retail pump prices lag crude moves due to refining crack spreads, existing inventory costs, distribution markups and station pricing strategies, so the pump often stays flat even when crude falls.
- Q: What three price spreads are drivers being charged through?
- A: The crude-to-wholesale crack spread, the wholesale-to-retail distribution and station markup, and regional taxes and fees, which together keep pump prices high despite a lower oil price today.