U.S. inflation jumps again and hits 6.4% rate, the Fed's favorite price gauge shows

[mahina]

14. Rats, I just spent 10 minutes replying to your post

And the page refresh kicked me out and I don’t have patience to start all over again.

Obviously world events and many factors way on the cost of oil per barrel. I’m curious about the difference between the crude oil prices and prices at the pump.

I realize that when oil was trading for $50 a barrel or even briefly $0 a barrel in the height of the pandemic, gas prices would be expected to go down.

They didn’t go down nearly as much proportional to the decrease in crude and they have gone up proportionally much higher. Yesterday gas was over five dollars a gallon at Costco! Brent crude closed at 112/barrel.

Do you think that it makes sense for gasoline to be five dollars plus a barrel at Costco when oil is in the 100-112 range? Or could President Biden, Robert Reich, Bernie Sanders and others be right that this is excessive profit taking?

It’s a double win for them.

Are you able to find a good graph that contains data for the price per barrel and gas prices over time? I realize gas prices vary across the country and across the street but there has to be a way to see those data relationships and I’m out of morning.

Thanks. Stay positive. 🤙🏼