Refinery outages pumping up fuel prices more than cost of crude oil
· dallasfed.org
Even after the Iran conflict ends and the flow of crude oil through the Strait of Hormuz normalizes, U.S. fuel prices will likely remain unusually elevated relative to crude prices, owing to diminished refining operations. As a result, headline inflation measures could remain above where oil price trends would normally indicate for as long as a significant portion of global refining capacity stays offline.
Refinery outages pumping up fuel prices more than cost of crude oil
Jesse Thompson and Garrett Golding
Global refinery capacity has declined by as much as 10 ...