Oil is nearing prewar prices. Why hasn’t gasoline followed suit?

AI Summary

Oil prices are nearing prewar levels following a memorandum of understanding between the U.S. and Iran to end conflict, but gasoline prices at the pump remain high. Analysts attribute the slow price reduction to gas station owners, despite accusations of price gouging by political figures.

Oil is nearing its prewar price after the U.S. and Iran agreed to a memorandum of understanding (MOU) intended to end the conflict, but gasoline prices remain significantly elevated.  While President Trump has blamed Big Oil for price “gouging,” analysts say it’s individual gas station owners that are slow to lower fuel prices. “The public…