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Mon July 7, 2014
Is the Oil Boom Helping Prices at the Pump?
Originally published on Mon July 7, 2014 12:32 pm
There’s a lot more to what you pay when you fill up your car than how much oil is out there. Market speculation can inflate prices. Then there’s how much it costs to move oil around. You can drill for all the crude you want, it’s another thing to bring it to a refinery. Add to that the role played by OPEC in setting prices, and it’s clear that what you’re paying is not dictated by simple supply and demand.