Oil Prices Fuel Gasoline Costs

Crude oil is the primary driver of gasoline prices. The relationship between crude oil and gasoline prices is directly proportional, meaning that as crude oil prices rise or fall, so do gasoline prices.

This is because refineries rely on crude oil to produce gasoline, and if crude oil becomes more expensive, it increases the cost of production for refineries. As a result, they pass these increased costs on to consumers in the form of higher gasoline prices.