![Domestic Crude Oil Peaked at $145 a Barrel in 2008. It Closed Yesterday at $118.50. So Why Is Gas at the Pump at All-Time Highs? Domestic Crude Oil Peaked at $145 a Barrel in 2008. It Closed Yesterday at $118.50. So Why Is Gas at the Pump at All-Time Highs?](https://wallstreetonparade.com/wp-content/uploads/2022/06/WTI-Crude-Oil-and-Gasoline-Prices-in-2008.jpg)
Domestic Crude Oil Peaked at $145 a Barrel in 2008. It Closed Yesterday at $118.50. So Why Is Gas at the Pump at All-Time Highs?
Crude oil prices increased in 2021 as global crude oil demand outpaced supply - U.S. Energy Information Administration (EIA)
![Domestic Oil Output Steady as Demand Flatlines Around Thanksgiving; OPEC-plus Mulls More Cuts - Natural Gas Intelligence Domestic Oil Output Steady as Demand Flatlines Around Thanksgiving; OPEC-plus Mulls More Cuts - Natural Gas Intelligence](https://www.naturalgasintel.com/wp-content/uploads/2022/11/Daily-2022-YTD-WTI-vs-Brent-Spot-Market-Prices-20221130.png)
Domestic Oil Output Steady as Demand Flatlines Around Thanksgiving; OPEC-plus Mulls More Cuts - Natural Gas Intelligence
![U.S. Crude Inventories Fall Further, Setting 2021 Low as Petroleum Demand Mounts - Natural Gas Intelligence U.S. Crude Inventories Fall Further, Setting 2021 Low as Petroleum Demand Mounts - Natural Gas Intelligence](https://www.naturalgasintel.com/wp-content/uploads/2021/07/Daily-Crude-Oil-and-Petroleum-Product-Spot-Prices-20210708.png)