Can Anything Bring Gasoline Prices Down?

Recession fears took hold of oil markets this week, with both WTI and Brent briefly slipping below $100. Since then, Brent has rebounded above the three-digit threshold while WTI has yet to recover. This has given rise to hopes that gasoline prices could also slip further after the national average inched down from an all-time high of more than $5 per gallon. It appears, however, that there is little hope for a significant decline at the pump. A tweet by President Biden from the July 4 weekend became viral for calling on fuel station owners to…