Doug MacIntyre
Doug MacIntyre
begin gas lose markets normally percent prices tight
We've got a lot more down now than normally would be. If gas markets are already tight to begin with and you lose 5 percent of the supply, prices are going to increase.
affecting factor gas playing
It's playing a role, but it's not the only thing affecting gas prices, and it's probably not the most significant factor right now.
abundant demand gasoline prices reason seemingly supplies time usual
The prices are going up because of the usual seasonal build-up in demand this time of year. The reason we still have prices going up when inventories are seemingly abundant is that there's a lot of uncertainty about gasoline supplies in the future.
crude demand fall gasoline impact labor ok question
We probably are OK (with gasoline supplies) to get to Labor Day, but the question is how much is demand going to fall off (after the holiday) and what's crude going to do and how does that impact the gasoline price.
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.
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.
along anywhere capacity felt katrina market spare tight
Even before Katrina we felt the market was on edge, a very tight market, with very little spare (refining) capacity anywhere along the chain.
crude loss
There's still crude out there that can make up for any loss in production.
bottom higher low prices time
We don't see prices going as low as $2.50 any time this summer. They could bottom out much higher than that.
expect lower saying
I would expect (demand) to be lower ... than what we were saying before.
continue few likely rise weeks
We think they're going to likely continue to rise for a few more weeks at least.
demand depends summer unfolds
Then it really depends on how the summer unfolds with demand and summer vacations.
gives indication price sort
That sort of gives an indication of the price impact. It's a big decline.
crude difficult envision looking
It's difficult for me to envision (the OPEC offer) having too much of an impact. Crude inventories here in the U.S. are looking pretty good.