Gas & Oil News Daily

> A Chronology of Rita By The Associated Press

There is a widening movement and growing discontent toward an un-responsive government in Nigeria. Among a long list of issues (at the top is) the distribution of the countries oil revenues. This Trouble in Nigeria will add a little up side pressure to Crude Oil, but don't forget about the bottleneck I spoke of last week!

Light Crude Oil settled today at $65.82 up $1.63 a barrel from Friday.

Gasoline on the other hand will be somewhat of a problem in the weeks to come! According to AAA Motor Club, The National Average Price for Regular Unleaded Gasoline has jumped 5.2 cents from Friday selling for $2.80 a gallon. How high and how long, this next up-serge in Pump Prices goes, depends on the Petroleum Industries ability to adequately supply gasoline to filling stations, and that is that! To fully rebound back to pre-storm production levels may take months. Mean while expect to pay high prices at the pump through years end!

Davitte’ Lanier
Petroleum Industry Analyst

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Thanks,
Davitte'