Oil settled little changed Tuesday, after swinging between gains and losses, with OPEC+ set to affirm its policy of production cuts amid tensions in the Middle East and Russia.
While Brent crude has shed 10 percent in the past few weeks, retail prices all over the world for products like gasoline and diesel haven't fallen anywhere near as fast - and are often still rising.
Oil fell the most in more than three months as weak trade data from China and fresh doubts about whether the Federal Reserve has finished raising rates clouded the outlook for demand.