- The US gasoline retail prices average has exceeded $4 per gallon. This is equivalent to $168 per barrel, as there are 42 gallons in a barrel of oil.
- In 2014, EIA provided analysis that considered the impact of rising domestic light crude oil production (US shale oil) on the price that US consumers pay.
- EIA analysis focused on the interrelationship of US and worldwide gasoline prices and the extent to which global gasoline prices were important in determining US gasoline prices.
- WTI crude oil price lost much of its power to explain changes in US gasoline prices after 2010, when its differential to Brent crude became wider and more volatile.
- Brent crude oil price lost very little of its power to explain changes in US gasoline prices in the post-2010 period.
For further details see:
Are U.S. Gasoline Retail Prices Linked To Brent Or WTI?