by Calculated Risk on 10/31/2011 10:27:00 PM

The graph below shows gasoline prices have been slowly moving down since peaking in early May.

Unfortunately, according to Bloomberg, Brent Crude is up to $109.12 per barrel, and WTI is up to $92.83.

According to the EIA, WTI is up from $79 per barrel at the end of September, and Brent is up from $105. It appears the gap between WTI and Brent is closing.

Note: This graph show oil prices for WTI; gasoline prices in most of the U.S. are impacted more by Brent prices.

Orange County Historical Gas Price Charts Provided by GasBuddy.com