Tuesday, July 02, 2013

Cheaper Canadian Oil for Refiners in Midwest Not Reflected in Prices at the Pump

Despite a steady influx of cheap Canadian oil, Midwest gasoline prices haven't gone down, casting doubt on claims that Keystone XL will lower American gas prices.

Cheaper Canadian Oil for Refiners in Midwest Not Reflected in Prices at the Pump


U.S. gas prices are no longer just a reflection of the cost of oil. In fact, analysts say the correlation between oil prices and gas prices has become so skewed that it calls into question one of the central benefits touted by supporters of the Keystone XL pipeline: That the project would lower U.S. gas prices by providing Gulf Coast refiners with a steady flow of cheap Canadian oil. Credit: Image via watchdogsblog.com

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