Econbrowser: F for Fail: \
What drives the price of gasoline (it is not just the currency)"
"US GDP
Rest-of-world GDP
Energy intensity of economic activity
Oil production capacity
Cost of production of marginal producer
Nominal interest rates
Inflation rates
Expected price of oil (itself a function of trends in the above factors)
Speculative activities of non-fundamentalist traders
Numeraire issues"
Rest-of-world GDP
Energy intensity of economic activity
Oil production capacity
Cost of production of marginal producer
Nominal interest rates
Inflation rates
Expected price of oil (itself a function of trends in the above factors)
Speculative activities of non-fundamentalist traders
Numeraire issues"
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