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U.S. gasoline prices at the pump and the drop in price of Nymex crude oil in 2011

08/22/2011

U.S. gasoline prices are determined by the price of crude on world markets. There is a large difference between the lower price of Nymex crude and higher world crude oil prices. This causes the price of gasoline to drop very slowly at the pump with only small gains for motorists. Another factor is that refiners are maintaining higher prices.

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