One reason for the difference is lag time; the other is the sloppy gasoline market, awash with [image-nocss] supply and deprived of healthy demand. The glut has gotten deeper. Refiners and retailers each lost margin during the period (3.65 cents and 2.48 cents per gallon, respectively).
When the crude-to-gasoline lag is played out over the next few days, we may see a few more cents at the pump if the oil price holds or margins are regained. But crude could easily slip back some, canceling most or all of gasoline's rise.
One thing appears surepersistent underemployment is keeping a lid on gasoline demand and exerting a drag on its price.
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