Carol Thorp
Carol Thorp
balanced continue demand expected filtered gasoline higher kept local markets next normally oil prices relationship relatively several stable supply trend
The relationship between supply and demand is relatively balanced in California, so normally we should see stable prices. However, speculators in oil and gasoline markets have kept prices high, and that has filtered down to local gas pumps. The trend for higher gas prices is expected to continue for the next several weeks.
across couple demand driving gas last past percent reduced southern time
Southern Californians have reduced their driving significantly in the past couple of months. Additionally across the nation, demand for gas is down 2 percent from this time last year.
compared country demand filters formulas gasoline last lifted market prices production regions spot sufficient supplies supply trouble
Nationally, production is down and demand is up compared to last year. In addition, many regions of the country are having trouble getting sufficient supplies of ethanol, which is used in new formulas for gas. Uncertainty about supply has lifted gasoline to near-record prices on the spot market and that filters down to the neighborhood gas pump.
buy companies demand fuel gas line million oil produce save sources state
Californians use 2 million gallons more of fuel every day than we produce in the state. Oil companies have to buy gas from other sources just to keep even with demand. If every motorist were to save two gallons every week, that would put our demand more in line with our state production.
coming crude demand dropped gas holiday increased level oil pace prices prior room slightly slower
Gas prices dropped at a slightly slower pace than the prior week, which can be attributed to level crude oil prices and the increased demand over the holiday weekend. However, analysts tell us there is still some room for prices to drop in the coming weeks.
affect coming iran labor market oil price pushing worried
The speculators on the market are pushing the price up - they're worried about oil coming from Iraq, they're worried about what Iran could do to affect the price, they're worried about labor unrest in Nigeria.
california continue few gas increases likely next pace past prices rapid seen southern throughout
Prices went up throughout Southern California this past week, but not at as rapid a pace as we've seen during other gas price spikes. It's likely that increases will continue for at least the next few weeks.
avoid cents prices rose san today unusual
Prices rose 4 cents today (in San Diego), and that is not unusual lately. There is profit-taking; no one can avoid that conclusion.
add area averaged beach cents dealer decline gallon gas hope memorial past peak per prices profit remain rise taxes wholesale
Prices remain on the rise but there is hope that we may be nearing a peak. Wholesale gas prices have averaged about $2.60 per gallon for the past week. Taxes add about 60 cents to that, transportation and dealer profit is another 5-10 cents. Prices in the L.A./Long Beach area could peak at $3.25-$3.30 by mid-May then they could decline after Memorial Day.
annual begin blend completed conduct cut expect fallen highs percent prices process producing production record rising since summer
Prices have fallen 25 percent since their record highs in September. After the New Year, motorists can expect prices to begin rising as refineries cut back production to conduct their annual maintenance and begin the process of producing the summer blend of gas, which must be completed by the end of February.
begin believe cents continue few gallon increase investors level likely next per plateau prices primarily rising week
Prices are rising primarily on speculation of investors who believe that prices will continue rising over the next few weeks. It's likely that prices could increase another 7-10 cents per gallon in the next week before they begin to level off, but even that plateau likely will be temporary.
across again although averages coast country decline dropped expect expensive few fuel gasoline heading higher industry inventory last led market oil overall prices pump slight start starts time west wholesale
Wholesale gasoline prices have dropped across the country and West Coast gasoline inventory is strong. That actually led to a slight decline in pump prices in the last few days, although overall averages are still higher than at this time last week. However, oil industry analysts expect wholesale prices to start heading up again once the more expensive summer-grade fuel starts going on the market at the end of February.
agencies aware california drinking drivers extra highway hope law likely patrol using
We hope drivers are aware that the California Highway Patrol and law enforcement agencies are likely to be using extra patrols to look for drinking drivers during holidays.
equal gradual increase month prices seen since until
Since then we have seen a gradual increase until prices are now equal to a month ago.