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Trying to explain the dissonance between oil and gas prices
May 18, 2022

Trying to explain the dissonance between oil and gas prices

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The price of crude oil is down about 13% since hitting roughly $130 a barrel in early March, when Russia invaded Ukraine. At the same time, the price of gasoline at the pump keeps rising, reaching new records every day. What's going on? To help explain, we spoke to Javier Blas, a Bloomberg Opinion columnist covering energy and commodities. Plus, the U.S. subsidiary of one of the world’s largest financial services and insurance companies has agreed to pay more than $6 billion in fines and restitution for a fraud scheme that led to the collapse of a group of investment funds. And, in Shanghai, COVID numbers are dropping, but restrictions on residents are still tight.

Segments From this episode

If oil prices are off their peaks, why are gas prices still rising?

"Gasoline prices and diesel prices are going to be very high through the summer, potentially higher than they are today," says Bloomberg's Javier Blas.
Scott Olson/Getty Images

The team

Victoria Craig Host, BBC
Stephen Ryan Producer, BBC
Jonathan Frewin Producer, BBC
Jay Siebold Technical Director
Jesson Duller Media Producer
Erika Soderstrom Producer
Rose Conlon Producer
Alex Schroeder Producer
Redmond Carolipio Digital Producer
Ariana Rosas Producer/Director