The letter from R.W. Calderwood titled “We’re being gouged at the gas pumps” (Aug. 5) perpetuates a common misconception that the price of gasoline is strictly tied to the price of oil.
Gasoline is a separate trading commodity as a refined product. While there is a correlation between the two, they don’t always match.
Right now there is a glut of oil on the world market according to all the reports I’ve read, while there is a shortage of gasoline. Global demand for gasoline is outstripping production.
That is one of the reasons the price at the pump don’t match the news reports.
Peter D. Morris