Latest / Energy Economics with Fexingo: Oil Prices, Renewables, and the Cost of Power
Why WTI Dropped Below 70 on Iran Strikes But Gas Prices Stayed Sticky
WTI crude briefly dipped below $70 a barrel after the US struck Iranian targets in response to a tanker hit in the Strait of Hormuz. But retail gasoline only fell from $4.05 to $3.91 per gallon. In this episode, Lucas and Luna unpack the refining and inventory mechanics that decouple crude prices from pump prices, referencing the latest CPI and PCE data to show why the Fed still sees sticky inflation. They also look at how natural gas quietly rallied 4.2% this week as a substitute fuel. A focused, number-driven look at why oil shocks don't always translate to cheaper gas.
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The skinny
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