The spike in gasoline prices over the last year in the United States over the last year contributed to the U.S. CPI rising to 9.1% on an annual basis—the highest CPI in decades. But gasoline prices have started to retreat over the last month. WTI prices, on the other hand, were still up on Wednesday, despite the high inflation numbers and an inventory storage report that showed implied gasoline demand in the United States had fallen by 1.3 million barrels per day. The Energy Information Administration’s report also showed that gasoline…
