Chart: US gasoline prices linked tightly to crude oil
The American retail market for transportation fuels is liberalized, with plenty of different gas stations chains and brands. In general, prices at the pump quickly follow the dynamics in the price of crude oil. In the chart below, we show how changes in West Texas Intermediate (WTI) – the benchmark used throughout the US – affect gasoline rates at the pump. The value of WTI usually differs from Brent, the international benchmark, as oil prices in the US depend on domestic production, mostly from shale formations in recent years, and the ban on crude oil exports.
To see the latest updates please refer to the gasoline prices in the US