Oil Prices Are High, but for Us Consumers, There's Another Problem

Crude oil prices are high, with the spot price of a barrel of west texas intermediate crud rising from 101 dollars and 78 cents in april to 109 dollars and 55 cents in may. However, the average us. Price of a gallon of gasene in may was four dollars 55, or a dollar 94 more. This spread, which reflects refiners margins, retail mark ups and taxes, was the highest in record, and forty one cents higher than a year earlier.