CME Group
Encyclopedia
The CME Group bases prices for US gasoline on Brent Crude (a European pricing index) rather than West Texas Intermediate Crude (a US-based gauge of supply and demand), which many believe is responsible for artificially high gas prices for US consumers. Neither the US government, nor the Comodities Futures Trade Commission have jurisdiction to alter this practice, and so it is believed to enrich oil and gas companies at consumers' considerable expense.