Hate To Be “That Guy”

This week, the price of WTI crude briefly fell below $90 for the first time since February. In the US, a steady decline in oil prices has been accompanied by an increase in refinery activity, seemingly in response to President Biden’s June call to boost production. Combined with weaker- than- expected demand from drivers this summer, this is leading to a sharp drop in gasoline prices. South of the border, prices at the pump have now fallen for nine straight weeks, and according to AAA, gas prices are just 9% above pre-Ukraine war levels.