“Given the situation that the prices of regular gasoline did not drop and in the face of the imminent recession in the United States, they used the financial markets. Returning tangible to the uncertainty of the recession, releasing the bull to see what happened. When issuing the letter to the market, fuel prices dropped a few cents, but not enough to be able to help the consumer, and the proposal to remove taxes did not observe any variation in market prices, because it depends on the decisions and votes of the houses of representatives”, he said.
For this reason, he indicated that the US financial market “rocked the cradle” to lower barrel prices, and that it cut prices down to where it wanted them to be.
However, the fall is contained. “The downward revision would have been larger had it not been for the stronger rebound in developing and emerging economies led by China,” said Craig Erlam, an analyst at Oanda.
There are other elements that will prevent the fall from going too far, such as the consequences of the war in Ukraine. “Right now what weighs in recent days is the expectation of lower demand due to an economic slowdown,” said Saldaña.