Energy prices tracked by the S&P Goldman Sachs Commodity Index finished the year 59 percent higher than they did to start 2021, much higher than other commodities measured by the index. AdvertisementThe index gauges the performance of global markets and uses a weighted average of commodity prices. And since the price of oil is connected to the price of gasoline, it helps explain why prices at the pump skyrocketed last year. For all of 2021, the S&P Goldman Sachs Commodity Index reported wholesale gasoline prices (known as RBOB in the fuels industry) increased 67 percent. The index reported natural gas prices rose 38 percent in 2021, the year after the COVID-19 outbreak slowed down the global economy.

Source: Forbes January 04, 2022 11:44 UTC