Looking back a week, crude really only declined $0.15/bbl even though it dropped $3 from yesterday. Gasoline dropped 8.46 cents/gallon from yesterday's close and 5.36 cents compared to a week ago. Distillate also decreased 7.72 cents one day and 2.24 cents one week.
10.2 % unemployment and even more discussion of further refinery shutdowns will likely lead to further falls in futures pricing despite all the talk of an improving economy.
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