Why Aren’t Gasoline and Diesel Prices Following Crude Oil? | Presented by CME Group

Following the outbreak of conflict in the Middle East in February, countries around the world tapped strategic crude oil reserves to ease supply pressures. But gasoline and diesel are harder to stockpile for long periods, leaving less backup supply available. In addition, damage to Russian refineries has further constrained fuel exports, even as the country’s crude exports have held up. The result? Refined products and crude oil are following very different price paths.