Gas & Oil News

We have Crude Oil now at $60.98 for today's high and settling at $60.54 a barrel. When it comes to Crude Oil, supply and demand are at equilibrium and that's a problem when you try to make since out of the price increases. Supply & Demand at Equilibrium, should cause Price to be stable. Not with Crude Oil. Crude Oil is so important in making everything else work, that the Keepers of the World's Crude Oil Inventories will buy what they need to satisfy their Demand no matter the cost. They carefully watch the Supply Chain and try to foresee potential disruption possibilities. Any negative news or rumors from; the geopolitical arena, certain regional weather conditions, oil fields, global refineries, the chain of distribution, will cause oil to sell at a higher price, because of the fear of a disruption!
The National Average for Regular Unleaded Gasoline has, is, and will keep going up. The AAA Motor Club posted $2.203 a gallon for Regular Unleaded Gasoline today. That's only 7.3 cents off the all time high of $2.273 set on April 11, 2005. And if Crude Oil stays near or at $60 a barrel, the price of gas will shoot up to about $2.30 a gallon in the next Two weeks!

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Davitte’ Lanier
Petroleum Industry Analyst