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Oil Price Information Service Chief Oil Analyst Tom Kloza on the outlook for gas prices.
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More bad news for drivers triple -- the national average price of gasoline this Labor Day.
To be the highest ever for the holiday top -- -- chief oil analyst at.
Hope this which supplies data to AAA joins us now via phone Tom great to have you back on the show what we think national averages gonna top out -- this weekend.
I think we're very close to -- I think we might get to about 385 and that'll be as bad -- gets further restive 2012.
You know there's a question the last year by the way in November December that those were the most expensive holidays ever for that time we hear about 325 and I -- disagree with mr.
Clinton Era I think that we're gonna see mostly downward pressure on prices in the last hundred days of the year.
Okay that's a -- -- market right differing opinions.
Won't press you there though because I'm more concerned -- where the hot spots are what states are outpacing the national average and seeing upwards of four dollars -- Hotspots are the West Coast Pacific northwest.
Both above four dollars related to the -- Refinery fire earlier this month and the upper midwest Michigan Ohio.
They Indiana and Illinois just -- that refinery issues -- a long way from the hurricane.
Impact.
But they just haven't been able to clear.
It.
-- the product to ever production problems so a lot of -- dollar numbers there and that -- kids in New York that Tony little communities and stuff.
So.
Seasonally this is high time for gases are discussion illustrates here how quickly do you expect prices to fall Wednesday -- this -- -- -- -- -- -- -- -- -- -- -- If it is sin and what what's gonna happen in the remainder of the year is number one that the demand for crude oil goes into -- shoulder period where were used less globally will have a refineries don't and to do it stopped serving and some.
That'll knock off about two million barrels a day of crude demand.
It's also driving seasons over in the winner.
They is several months away so.
-- see a drop in demand both for crude for gasoline.
It's easier to make gasoline after September 15 so we'll get a break whether or not it's not so you're gonna go out by that new bonds or audio I'm not sure.
So the specifications.
-- reading your note for most of the country get relax after September 15 is that what -- referring to.
Absolutely it is much easier to -- the gasoline take -- after September 15 there's a lot cheaper flower available internationally and domestically.
During the ozone season you know and -- -- brown haze over the -- -- can't use certain ingredients that are cheap but after September 15 with the exception of California you can use that cheaper flower.
How vulnerable is the market to another hurricane other topical events.
-- also to start thinking about jet fuel heating oil as winter approaches.
I -- and I think that's where the vulnerability is I think that -- gasoline will be on the decent for most of the rest of the year I'm really worried about high diesel prices and -- jet fuel prices I would not be surprised were about 410 naturally a -- I wouldn't be surprised to -- sub states before just -- And I think got jet fuel were up sixty or 70% since June -- -- -- higher fares in November and December.
And a little inflation from diesel which is the way things get moved around the country.
And a tough economy not great news.
-- close at thanks for announces nonetheless.
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