Brent benchmark

On August 13, 2026, oil reached $90.28 per barrel using the Brent benchmark, which was lower than the previous day's price but higher than a year ago. The article notes that crude oil accounts for over half of the cost per gallon at the pump and explains that declines often translate into delayed drops in gas prices due to the "rockets and feathers" effect. Furthermore, it outlines the roles of benchmarks like Brent and WTI, and the U.S. Strategic Petroleum Reserve as an emergency safety net.

On August 6, 2026, oil was priced at $83.64 per barrel using the Brent benchmark, fluctuating based on supply and demand dynamics influenced by global concerns such as war or recession. The article explains that crude oil accounts for more than half of gas pump costs, meaning declines in oil often lead to slower price drops at the pump. Key mechanisms discussed include the U.S. Strategic Petroleum Reserve acting as an emergency safety net, and the historical tracking provided by benchmarks like Brent and WTI.