Oil consumption has fallen, demand from U.S. motorists for gasoline
is flat at best and refiners that turn crude into fuel are operating
well below capacity. Yet oil prices keep marching toward $90 a barrel,
pushing gasoline toward $3 a gallon in many markets, and prompting
American drivers to ask, "What gives?"
Blame it on the same folks who brought you $140 oil and $4 gasoline in 2008: Wall Street speculators.
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