Doug MacIntyre
Doug MacIntyre
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.
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.
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.
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.
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.
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.
continue few likely rise weeks
We think they're going to likely continue to rise for a few more weeks at least.
chain draw globally katrina limits market oil perceived picture potential situation stretched supply tight vulnerable
What I draw from that is it confirms how tight the market actually is right now. To us, the big picture is we are in a situation globally and here in the U.S. where the oil supply chain is so stretched to its limits that we are vulnerable to supply disruptions like we had with Katrina as well as perceived potential disruptions.
week
We may see another week or two of increases.
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.
expect lower saying
I would expect (demand) to be lower ... than what we were saying before.
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 loss
There's still crude out there that can make up for any loss in production.
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.