Gas & Oil News
The US has made it through the storm and is on the road to recovery. The Gulf Region Refineries affected by Katrina's vast destruction are now running at about 70% of pre-storm capacity. It could take several weeks or months, for full production to resume, leaving markets very jittery to say the least.
The National Average Price for Regular Unleaded Gasoline has dropped over this holiday weekend by 1.6 cents, and is selling at the pump for $3.041 a gallon. This indicates the current price spike is leveling off. The current price may retreat a couple cents before finding a new comfort level at about $3 a gallon across the country. With the dent we now have in US refinery capacity, we will be very lucky to see prices of all distillates holding at current levels. Winter heating oil production is going to be in a heated competition (pun intended) for "Refinery Capacity", against Gasoline and Diesel Fuel.
Crude Oil is moving sideways! By this I mean. The US and several other countries have tapped into their "National Strategic Oil Reserves" to insure the flow of Crude Oil to Refineries. World Oil Production is still pumping away at all time breakneck speeds and that is causing a little ripple in supply that looks like a surplus. This little ripple of surplus will vanish as soon as the US and those other countries begin to replenish
their "Strategic Oil Reserves".
For the US, $3 a gallon gasoline, is here to stay!
For the Best Ways to Save Gasoline & Money:
www.BetterGasMileage.com
Davitte’ Lanier
Petroleum Industry Analyst
The National Average Price for Regular Unleaded Gasoline has dropped over this holiday weekend by 1.6 cents, and is selling at the pump for $3.041 a gallon. This indicates the current price spike is leveling off. The current price may retreat a couple cents before finding a new comfort level at about $3 a gallon across the country. With the dent we now have in US refinery capacity, we will be very lucky to see prices of all distillates holding at current levels. Winter heating oil production is going to be in a heated competition (pun intended) for "Refinery Capacity", against Gasoline and Diesel Fuel.
Crude Oil is moving sideways! By this I mean. The US and several other countries have tapped into their "National Strategic Oil Reserves" to insure the flow of Crude Oil to Refineries. World Oil Production is still pumping away at all time breakneck speeds and that is causing a little ripple in supply that looks like a surplus. This little ripple of surplus will vanish as soon as the US and those other countries begin to replenish
their "Strategic Oil Reserves".
For the US, $3 a gallon gasoline, is here to stay!
For the Best Ways to Save Gasoline & Money:
www.BetterGasMileage.com
Davitte’ Lanier
Petroleum Industry Analyst
posted by bettergasmileage @ 4:33 PM
0 Comments:
Post a Comment
<< Home