Building on last week’s rally, which was spurred by fears of an impending supply crunch, oil prices are quickly approaching a two-month high with $80 Brent well within reach. U.S. retail gasoline prices for Labor Day weekend were the highest in four years at $2.83 per gallon nationally. That is also 43 cents per gallon higher than at this time last year. – Regionally, retail gasoline prices vary quite a bit, due to proximity to refining and pipelines as well as state and local taxes. – The West Coast has seen prices at the pump exceed $3/gallon consistently since the beginning of 2018. The Gulf Coast tends to have the cheapest gasoline, due to its location near so many refineries. Gulf Coast gasoline prices are averaging a little over $2.50 per gallon. Market Movers • The U.S. DOE sold […]