Tom Kloza, global head of energy analysis at OPIS, expects prices to ease as the use of winter-grade gasoline, which is cheaper to make, rises. Andy Lipow of Lipow Oil Associates supported this view, claiming, “In the next five days I expect gasoline prices to tick on up a few cents, but afterwards consumers east of the Rockies will benefit from the lower priced winter-grade gasoline and we should see about a $0.10 per gallon decline in those markets.”

Still, Lipow warned that Californian gas prices may be the exception, given that winter-grade gasoline does not enter the distribution system until November 1. Currently, California’s gas price is hovering around $5.52 per gallon.

The post Experts Believe Gas Prices for 2023 are Peaking appeared first on theprimarymarket.com.

There are several factors driving the price of gasoline up again, with the most significant being the recent decision by OPEC+, an intergovernmental organization of oil-producing countries, to decrease their oil production. This will further limit the oil supply on the international market, resulting in higher prices.

Reportedly, the U.S. government is already looking into ways to keep the gasoline market in the nation under control and stop the expected surge in prices. One of them might be a ban on gasoline export, although this decision is considered controversial and viewed as a last resort.

Back in June, gasoline prices in the U.S. surpassed $5 per gallon on average for the first time in the country’s history. The price of gas was even higher in some states, with drivers in California paying well above $6 per gallon on average.

The prices started coming back on Earth in July as a result of weaker demand and the government’s decision to tap into their oil reserves in attempt to stabilize the market.

The post U.S. Gasoline Prices Are on the Rise Again appeared first on theprimarymarket.com.

Tom Kloza, global head of energy analysis at OPIS, expects prices to ease as the use of winter-grade gasoline, which is cheaper to make, rises. Andy Lipow of Lipow Oil Associates supported this view, claiming, “In the next five days I expect gasoline prices to tick on up a few cents, but afterwards consumers east of the Rockies will benefit from the lower priced winter-grade gasoline and we should see about a $0.10 per gallon decline in those markets.”

Still, Lipow warned that Californian gas prices may be the exception, given that winter-grade gasoline does not enter the distribution system until November 1. Currently, California’s gas price is hovering around $5.52 per gallon.

The post Experts Believe Gas Prices for 2023 are Peaking appeared first on theprimarymarket.com.

There are several factors driving the price of gasoline up again, with the most significant being the recent decision by OPEC+, an intergovernmental organization of oil-producing countries, to decrease their oil production. This will further limit the oil supply on the international market, resulting in higher prices.

Reportedly, the U.S. government is already looking into ways to keep the gasoline market in the nation under control and stop the expected surge in prices. One of them might be a ban on gasoline export, although this decision is considered controversial and viewed as a last resort.

Back in June, gasoline prices in the U.S. surpassed $5 per gallon on average for the first time in the country’s history. The price of gas was even higher in some states, with drivers in California paying well above $6 per gallon on average.

The prices started coming back on Earth in July as a result of weaker demand and the government’s decision to tap into their oil reserves in attempt to stabilize the market.

The post U.S. Gasoline Prices Are on the Rise Again appeared first on theprimarymarket.com.