Oil just crashed 7% in a single day — Brent fell 7.6% to $104.77 a barrel and WTI fell 7.4% to $96.46 on November 2 — yet the national average for regular gas only slipped from $4.17 to $3.94. In this video we break down why 7% off crude is only about 16 cents off your gallon, why the station sells fuel it bought at the old price so the drop takes two to three weeks to reach you, and why you are still paying about $418 a year more than last November. Plus three things you can actually do about it before Thanksgiving, including why the national average could reach about $3.75.
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Educational content, not financial advice.
