eli5: why the current price of gas is much higher than in 2008 when the price of brent barrel was quite higher?

Question

eli5: why the current price of gas is much higher than in 2008 when the price of brent barrel was quite higher?

In: 226

Answer 1

Inflation means many other costs in fuel production are higher now than in 2008. So the total cost to the pump is going to be net higher even if the oil per barrel cost is lower.

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Also greed.