• Home
  • News
    • Politics / Govt
    • Legislature
    • Crime / Courts
    • Health / Medicine
    • Archives
  • Sports
    • Badgers
    • Packers
      • Titletown Report
    • Brewers
  • Contact Us
    • Reporters
  • Affiliates
    • Affiliate Support

Wisconsin Radio Network

Wisconsin News and Sports

You are here: Home / News / Wall Street driving gas prices

Wall Street driving gas prices

April 16, 2008 By WRN Contributor

What keeps driving up the price at the pump? One analyst who tracks gas prices around the nation says it's certainly not gasoline retailers, many of whom are looking to get out of the business. Ben Brockwell, Director of the Oil Price Information Service , addressed the annual Wisconsin Petroleum Marketers meeting in Middleton, and says two of the traditional power players in the energy game — Big Oil and OPEC — are no longer calling the shots when it comes to setting the price of refined product. "Wall Street now determines what you pay for a gallon of gasoline at the pump, or the price of diesel fuel," says Brockwell.

Brockwell says hedge funds are betting on oil prices going even higher. In fact, he expects the market to hit $120 a barrel very quickly, meaning still higher average prices to consumers. Brockwell blames lawmakers in Washington for runaway prices: he says they "don't have the guts" to regulate speculation.

AUDIO: Bob Hague reports (:60 MP3)

Share this:

  • Facebook
  • Twitter

Filed Under: News



Featured Stories

Packers season comes to an end in NFC Championship

Legendary Hank Aaron passes away

Ted Thompson passed away at age 68 (AUDIO)

Big Ten suspends Wisconsin’s Ahcan

Bucks lose tight battle with Nets

TwitterFacebook

Listen Now | More from Titletown ยป

Sports Headlines

Packers season comes to an end in NFC Championship

Legendary Hank Aaron passes away

Bucks drop second straight, fall at home to Lakers

Hockey Badgers grab series opener at Penn State

Wisconsin’s Mark Johnson named WCHA 1970’s Player of the Decade

More Sports

Tweets by @WRN

Get our news delivered to your inbox:

Enter your email address:

Delivered by FeedBurner

Copyright © 2021 · Learfield News & Ag, LLC