Demand is in a bit of a post-holiday slump, but it looks like suppliers either can’t, or won’t, keep up.
Daniel James Graeber
An ongoing rally in crude oil prices is spilling down to the consumer level.
Federal data showed a decline in demand for petroleum products, but the global energy market is not limited to the U.S. economy.
There could be a bit of a post-holiday lull that could bring prices lower, but it remains to be seen if it will last.
This week marks the sixth week in a row for a decline in retail gasoline prices.
Demand for refined petroleum products remains at or near pre-pandemic levels.
Even with a bit of a dip lower, prices remain at levels not seen since late 2014.
Analysts told Zenger that market players are looking for economic clues elsewhere.