Oil storage Gasoline prices in the U.S. did not get swept up by the 10-percent rally in crude yesterday following OPEC’s decision to cut production, with the average price per gallon of unleaded essentially unmoved at US$2.16 on Thursday. The AAA reports that this was slightly up from last Wednesday’s US$2.15, and down from the average of US$2.21 a month earlier. On November 30 2015, the average price for regular unleaded was US$2.04 a gallon. The stability of gas prices in the U.S., however, has more to do with internal factors than one-time international events such as OPEC’s meeting. The EIA reported yesterday that the daily production rate of refineries was 10 million barrels of gasoline (all blends), with inventories of the most popular fuel up 2.1 million barrels in the week to November 25 from the previous week. What’s more, prices should fall further, below the US$2 mark, […]