While oil prices are tumbling, prices at the pump are not, and it may take several quarters for the divergence to balance out, energy analyst Neal Dingmann said Monday.
U.S. crude has fallen for seven weeks in a row, settling down 1.5 percent at $41.87 a barrel on Monday. Gasoline prices, on the other hand, have increased for six straight days, ending a 27-day streak of daily declines, according to AAA. Gas prices are now up to $2.67 from $2.59 one week ago, it said.
The problem is due, in large part, to the shutdown of a BP refinery in the Midwest. The company's largest crude distillation unit was damaged in a malfunction last week. BP has said it will take at least a month to make the repairs.