GREEN

Fuzzy Math Keeps Oil Company Profits High

06/04/2012 12:08 pm ET

With more fuel-efficient cars on the highways, more domestic oil being tapped, and the global price of a barrel at recent low levels, the price of a gallon of gas at the pump should logically be coming down. Right?

The numbers would suggest that’s right-thinking: The price of a barrel of oil is currently experiencing the biggest monthly decline since December 2008, selling for less than $90 and expected to drop below $80 in June—compared to an all-time high of $145 on July 3, 2008.

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