Chuck
07-02-2007, 10:35 PM
More refineries coming on-line (http://www.msnbc.msn.com/id/19568608/)
http://www.cleanmpg.com/photos/data/501/Gas_Pumps.jpgJohn W. Schoen - MSNBC - July 2, 2007
If all goes well, pump prices may have peaked for the summer. But with gasoline supplies tighter this month than they’ve been in years, traders and analysts say it won’t take much to send pump prices higher again.
The latest weekly report from the Department of Energy (http://en.wikipedia.org/wiki/Department_of_energy) shows gasoline prices continuing to drop. On Monday, the nationwide average price of a gallon of regular unleaded fell another 2.3 cents a gallon to $2.959, after peaking at $3.218 a gallon during the week of May 21. Pump prices are about 2.5 cents higher than this time last year and remain well above $3 a gallon in many parts of the country.
Traders in the futures markets are also betting on a gradual easing of prices in coming weeks. Gasoline futures for August are down more than 15 cents from peak levels in May.
This spring’s pump price spike drew widespread ire from American drivers. A survey conducted earlier this year, as the price of gasoline broke through $3 a gallon, found that more consumers were concerned about high gas prices than they were about terrorism or the state of overall economy...http://www.msnbc.msn.com/id/19568608/
http://www.cleanmpg.com/photos/data/501/Gas_Pumps.jpgJohn W. Schoen - MSNBC - July 2, 2007
If all goes well, pump prices may have peaked for the summer. But with gasoline supplies tighter this month than they’ve been in years, traders and analysts say it won’t take much to send pump prices higher again.
The latest weekly report from the Department of Energy (http://en.wikipedia.org/wiki/Department_of_energy) shows gasoline prices continuing to drop. On Monday, the nationwide average price of a gallon of regular unleaded fell another 2.3 cents a gallon to $2.959, after peaking at $3.218 a gallon during the week of May 21. Pump prices are about 2.5 cents higher than this time last year and remain well above $3 a gallon in many parts of the country.
Traders in the futures markets are also betting on a gradual easing of prices in coming weeks. Gasoline futures for August are down more than 15 cents from peak levels in May.
This spring’s pump price spike drew widespread ire from American drivers. A survey conducted earlier this year, as the price of gasoline broke through $3 a gallon, found that more consumers were concerned about high gas prices than they were about terrorism or the state of overall economy...http://www.msnbc.msn.com/id/19568608/