Prices at the pump continued their downward slide in the US Midwest, following large drops in the differential price for Chicago RBOB, which reached a low of NYMEX November RBOB minus 15.25 cents/gal Monday. According to Platts data, the differential for Chicago RBOB this time last year was futures plus 5 cents/gal. The last time the differential was assessed this low was December 27, 2018, when the differential was assessed at futures minus 15.75 cents/gal. According to pricing data from the US auto club AAA, the pump price of regular-grade gasoline in Chicago, for example, was down as much as 17.80 cents on the year to $2.62 cents/gal. Market sources were unsure as to why the differential had fallen so low, with most saying that they suspected that falling consumer demand was the driver of this decline. Winter weather has traditionally lowered downstream consumer demand, as fewer […]