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Brent Oil Price is the Main Factor in US Gasoline Prices

Posted by October 30, 2014

U.S. gasoline prices are mostly determined by international oil prices, a report by the Energy Information Administration said on Thursday, a conclusion that downplays concerns by some lawmakers that lifting a 40-year-old crude oil export ban would raise domestic fuel bills.

"Brent crude oil prices are more important than WTI crude oil prices as a determinant of U.S. gasoline prices," the EIA said in a long-awaited report.

(Reporting by Timothy Gardner; Editing by James Dalgleish)

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