Doug MacIntyre
Doug MacIntyre
demand depends summer unfolds
Then it really depends on how the summer unfolds with demand and summer vacations.
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.
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.
expect lower saying
I would expect (demand) to be lower ... than what we were saying before.
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.
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.
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.
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.
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.
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.