Ron Wyden, Democratic Senator from Oregon and Chairman of the Senate Committee on Energy and Natural Resources, grilled oil market experts today on why US consumers are not benefiting from higher US oil production via lower gasoline prices at the pump. Those experts indicated that whether or not they are aware of it, US consumers may be benefiting more than they realize.

Wyden questioned why US consumers continue to pay high prices for gasoline despite a marked increase in US oil production.

“The US economy may be benefiting from declining US oil imports,” but “prices at the pump have remained consistently high”, said Wyden at a committee hearing today. “At the gasoline pump, it’s been pretty much business as usual.”

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