Doug MacIntyre
Doug MacIntyre
above barrel crude falling gasoline oil prices summer year
That's what will keep crude oil prices above $60 a barrel for this year and keep gasoline prices from falling to $2 a gallon. We are forecasting prices to go back up this summer ... above $2.50.
coming felt increases likely price starting
That's just starting to be felt at the pump. We know there's likely to be more price increases before they start coming down.
against benefits economic pressure produce prudent weigh
You've got to weigh the economic benefits and the pressure to produce against what's prudent and safe.
average certain country nearly parts
There may be certain parts of the country that see that, but for the U.S. average I don't think we have anything nearly that low.
average bigger coverage daily demand drive fleet growth higher levels percentage represent strong supply tends
Demand growth has become so strong that these higher supply levels don't represent the same daily demand coverage they used to. SUVs are making up a bigger percentage of the fleet and the average American tends to drive more miles.
august barrels decline expect normally people september stop taking
Normally we'd expect to see a decline of about 400,000 barrels a day from August to September just for seasonal reasons, as people stop taking vacations.
above chance expect iranian stay unless
I think there's a chance of getting above $3 this summer. I don't think we would expect it to stay up there unless there's a long-term Iranian embargo, or a long-term refinery outage.
demand growth high impact lower normally people prices saying
Just as we were saying high prices were lessening the demand growth we would normally see, but not as much as some people would think, the lower prices are having some impact on making demand higher.
averaged barrels close four gasoline high imports last million per
Our imports of gasoline averaged close to 1.0 million barrels per day in the last four weeks, which is very high for February.
citing demand followed prices reasons supply
Just like we were citing supply and demand as the reasons why prices went up, it's the same reason they're going down. It's pretty much followed with what we would be expecting.
week
We may see another week or two of increases.
couple fall further increases next prices retail ruling several spot
Retail prices may stabilize more than fall in the next couple of weeks. We're not ruling out further price increases should spot prices increase, but the retail price should be stabilizing over the next several weeks.
area close competition factors helpful include
Being close to a refinery is more helpful than not being close to one. But other factors would include how much competition is in that area and also the demographics.
looks start
If you haven't already (hit $2), it looks like you never will. This is probably just the start of the seasonal rise.