Diesel Spikes to $5.25, Gasoline to $4.32, in Historic Leaps. But Wait a Minute… Futures of Crude Oil & Gasoline Plunge | Wolf Street

Crude oil WTI futures plunged 24% in one week, from over $130 last Monday to $97.96 at the moment, which put it back where it had been on March 1, when it had punched through the $100-mark for the first time since 2014, in white-knuckle volatility that seems to be afflicting everything these days (chart via Investing.com):

At the tourist gas station in my neighborhood in San Francisco, regular gasoline hit $5.99 a few days ago, and the two higher grades punched through the sound barrier of $6, even as gasoline futures were already plunging, and for now, prices at the pump, which were so record-quick to skyrocket, have turned out to be sticky at these record sky-high levels (photo by Wolf Richter):

Diesel Spikes to $5.25, Gasoline to $4.32, in Historic Leaps. But Wait a Minute… Futures of Crude Oil & Gasoline Plunge | Wolf Street