By Bob van der Valk This year’s Cinco de Mayo Mexican holiday may go down in US oil trading history as the day the oil prices spun down into their biggest free fall. Oil traders have already started calling it: “Jueves de Carniceria”, which loosely translates to “Killer Thursday”. However, motorists looking for lower pump prices were disappointed when the average price for unleaded regular gasoline dropped a mere penny from $3.99 to $3.98 a gallon. The gasoline spot market prices are quick to react to any changes in the price of crude oil but there are a couple of steps in…
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