The divergence between oil and gas prices is now historic, and one simple calculation explains everything. That calculation is at a record high, and it’s not even close. What it shows is why gas remains so expensive and is likely to stay that way for some time even though prices have fallen substantially from their wartime peak. Even though demand for oil has plummeted, and I mean plunged in places like China, and it’s not all that great elsewhere.

So why are gasoline and diesel still so expensive?

Eurodollar University's Money & Macro Analysis

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https://eurodollar-university.com/home-page
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https://www.clickorlando.com/video/news/2026/07/10/gas-price-roller-coaster-what-drivers-are-saying-as-pump-prices-spike-again/
https://en.macromicro.me/series/4934/crude-oil-cracking-spread
https://www.eia.gov/todayinenergy/detail.php?id=1630
https://www.eia.gov/finance/markets/products/prices.php
https://www.bloomberg.com/news/videos/2026-07-13/ships-transit-the-strait-of-hormuz-in-secret-video
https://www.bloomberg.com/news/videos/2026-03-05/china-orders-suspension-of-diesel-gasoline-exports-video
https://www.cbsnews.com/detroit/video/diesel-fuel-tops-5-a-gallon/
https://www.reuters.com/business/energy/us-refiner-margins-hit-new-records-fuel-shortage-concerns-grow-2026-07-16/

https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU

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