Midweek fluctuations in crude oil prices and lower processing at refineries are keeping retail gasoline prices from falling dramatically, analysts said. Motor club AAA reports a national average retail price for a gallon of regular unleaded gasoline at $2.21 per gallon, a minor decline from the previous day, but about 0.8 percent higher than last week. Tuesday marks the fourth straight day of declines in the national average price for gasoline, although that follows six straight days of an increase. Avery Ash, a spokesman for AAA, said in a November report on retail gasoline prices that mid-month increases are possible because refinery maintenance has been heavier than normal.
Oil futures rose Tuesday, taking back some of the ground lost the previous session and finding support on signs that Iran crude exports are falling ahead of reimposed sanctions.
Market participants also kept watch as Hurricane Michael headed for the Gulf of Mexico.
Iran exported only 1.1 million barrels a day of crude in the first week of October, Reuters reported, versus 1.6 million barrels a day in September and 2.5 million barrels a day in the spring.
more detail at source: https://www.marketwatch.com/story/oil-boosted-by-signs-iran-crude-exports-falling-hurricane-michael-threat-2018-10-09