Higher refining margins affecting prices at pump more than crude -UAE minister ...Middle East

Higher oil refining margins, rather than simply the price of crude, are driving fuel costs for consumers, United Arab Emirates Energy Minister Suhail al-Mazrouei said on Tuesday, adding that figures show the oil market is balanced. "Extreme volatility is not because of supply and demands it's because some don't want to buy certain crudes and it takes time for traders to move from one market to another," he said, alluding to efforts to bypass Russian crude.

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