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Page added on July 30, 2006

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It’s not all about oil

U.S. oil companies blame the global oil market for high gasoline prices, but a close analysis of pricing suggests it’s not so simple: The run-up at the pump also comes from domestic refining, which is largely controlled by Big Oil.
The Associated Press examined pricing trends since 1999, which was the starting bell for the modern era of pricier gasoline, and asked several economists to analyze the results. It found evidence that:

The portion of gas prices tied to refining has ballooned on its own, apart from oil.

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