Investment group predicts gas prices won’t rise with WTI

  • Investment group predicts gas prices won’t rise with WTI

    The Bespoke Investment Group issued a statement saying that despite crude prices topping $100 a barrel today, retail fuels prices are not likely to rise in response. That’s because Bespoke says retail fuels prices have been responding much more closely to changes in Brent crude, than with WTI. And Brent crude has not gone up in price.

    “As long as Brent crude continues to underperform WTI crude, rising oil prices will be less of a drag on US consumers than they have typically been in the past,” Bespoke wrote.

    From a fuels price management perspective, this is important because fuel analysts may choose to stop tracking WTI prices, and instead focus on the performance of Brent crude, when anticipating future price moves.

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