Even though a historic decline for oil sent prices negative on Monday, don't expect to get paid to fill up your gas tank
Or ever, truth be told.There were some unique conditions driving oil prices below $0 for the first time ever. And more importantly, crude oil prices only have an indirect impact on the retail price for a gallon of gasoline.The huge drop in US gasoline consumption in recent weeks due to stay-at-home orders during the COVID-19 outbreak has pushed down both oil and gasoline prices, since there is excess supply of both.
Instead, wholesale gasoline prices that determine what gas stations will pay for gasoline. And gasoline futures did not have the same wild swing Monday, closing down only a few cents at about 67 cents a gallon. That's actually close to twice the price they were trading at just last week.
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