Why are gasoline prices rising faster than oil prices? Blame it on the ‘crack.’

Gasoline prices are rising faster than crude oil prices because of the widening "crack spread," which is the difference in price between crude oil and the refined gasoline. This gap has increased due to higher costs in processing crude oil into gasoline, driven by supply chain issues, stricter environmental regulations, and increased demand for cleaner fuels. Understanding this dynamic is crucial for consumers and businesses alike, as it explains the disparity and can have broader implications for the economy, particularly in transportation and manufacturing sectors reliant on fuel costs.